NATIONAL SMELTING CO.

Press, Volume LXV, Issue 19715, 4 September 1929, Page 12

NATIONAL SMELTING CO.

NET PROFIT OF £184,212. Financial Interests are to be acquired by th« Flectrolvtic Zinc Co. of Australasia. Ltd., Xortb Broken Hiil. Ltd, Broken Hill *ou:L Ltd and Zinc Corporation. Ltd., in Imperial 8*!,:.. Corporation, Ltd., being formed in London by the National Smelting Co., Ltd.. with a nominal capital of £7.500.000. consequently interest attache, to the accounts of the latter company for the twelve month. ended December B ls * »•% * e 0 .'lS4'>l2 comparing with £1<6.09 J in 1921, :„r'"i,h *59,674 brought in, £243.886 was avaiiabl- Dividend on the ordinary and preference shares « a s maintained at 10 per c-nt.. and a balance of i(B,Bsb wsi curied forward. Comparative figures for the past two years are 9nb J oined: ~ 92 7. 1928. Net profit •• "«•??= ,"*.2?2 Debenture fctoek .. 1-328.0=0 U00.2d0 Deb. redemption fund »».e«0 "J-^ n 3n<x>in.l reserve • ■ 400.409 400.400 Depre 'atfon reserve . . 200.000 250,000 Gen" Purposes reserve 110.000 110.000 Propert'w and plant '.'. lii'l^T .. 17QRSQ Debtor? .. •• i^y.opa InrpEtmontx •• 1,812,712 2,105,177 Investments gj)B Loan. .'. _- 73 > 00 73.000 BROKEN HILL DIVIDEND. North Broken Hill, Ltd., will pay a dividend of 2s and a bonus of Is a snare on September oOui. 'iianat'er boot.* cios.u on August iilit. This payment will require £105,000, and will lift the total distribut.on of the company to £4,82 5, 410. The last quar*teny dividend was 2s bd, to whien it was restored after ha-wng been reduced from 3s to 2s two years ago, when the price of lead began to decline.

HUME PIPE (AUSTRALIA), LTD.

Turnover of Hume Pipe 00. (Australia), Ltd., for the first six months of the financial year ended June 30th last is stated by the directors in their annual report to have been 20 per cent, below the figures for the iike period of 1927-28. In the second sis months sales were the highest on record, and for the full year ther was a fall of only 0.65 per cent. Business is satisfactory at ail the company'! branch offices in Australia and New Zealand. In the last shares in other companies have stood in the balancesheet a. cost. The directors have now decided to show them at what is considered their present value. At June 30th, 1928, these shares were shown at £55,095, which was their original cost. During the year shares held in the American Hume Pipe Co., wh.ch cost tti9o7, were transferred to the Hume Pipe and Concrete Construction Co., Ltd., London, in terms of the agreement. The balance of shares in other companies then stood at £48,188. Value has now been fixed at £124,643, which is considered a conservative figure. Of the appreciation in value £45,000 has been added to plant depreciation reserve, making the account £50,000. The balance of the £124,643, amounting to £31,455, has been added to assets fluctuation reserve. The concrete pipe business has been further developed by licenses under the Hume foreign patents. The business of Hume Steel, Ltd., has progressed For the year to September 30th last net earnings were £29,848, and :i 10 per tent, dividend was paid on the "A" and "B" preference shares. The 165.000 ordinary shares in this company held by Hume Pipe Co. have been revalued. The Associated Singapore Hume Pipe Co.. Ltd., showed for the year to March 31st a net profit of £11,699. A dividend at the rate of 10 per cent., and a bonus at 5 per cent., were paid for the year. Net trading profit of Hume Pipe Co. (Australia), Ltd., for the ver.r ended June 30th. v.-.is £71.496. agawist £69.228 for 1927-28. Transfer to reserve accounts for £20.000, provision for taxation requires £16.500, and interim dividend, paid March 30th. 1929, absorbed £20.000. It Is proposed to pay dividend for the six months ended June 30th, 1929, at 8 per cent, per annum, taking £20,000, and leaving £9261 to carry forward, £14,265 having been brought in. Dividend for the previons year was at the above rate. Balance-sheet items are compared below:— IS2S. 1020. £ t , Liabilities— Capital paid up ... 600,000 500,000 Creditors .. 22,745 30,440 Provision for taxation, ete. 39,024 51,920 Reserve .. 10,000 30,000 Assets fluctuation reserve Plant depreciation reserve Assets— Debtors . . 121,760 98,485 Shares is other companies 55,095 124,643 Cash . . 50,692 59,971 Commonwealth Bond* . . Loan, Hum* Steel. Ltd. TALLOW. (U KITED PRESS ASSOCIATION —BT KJSCTOIC TELEGOAPB COPTRIGHT.) (Received September 3rd, 8 p.m.) LONDON, September ft. Tallow—Stocks 2809 casks, imports 1409 casks, deliveries 942 casks. —Australian Press Association. BEET SUGAR. (Received September 3rd, 8.10 p.m.) LONDON, September 3. Licht's report that the past ten months' beet sugar production was 5,978,769 ton*.— Australian Press Association. TIN. (Received September 3rd, 8.10 p.m.) LONDON, September 2. • Tin Supplies—Visible 25,878 tons, spot 998 tons, afloat 1895 tons, deliveries 1977 tons.—Australian Press Association. BRADFORD MARKET. (Received September 3rd, 8.10 p.m.) LONDON, September 3. At the Bradford sale there was a good attendance end a fair tone. Spinners were extremely hesitant.—Australian Press Association. BANK DIVIDENDS IN NEW ZEALAND. * AVERAGE 14 PEE CENT. The average dividend paid by Banks operating in both Australia and New Zealand is 14 per cent. In no caae is it under 12$ per cent. Dividends rarely fluctuate to any great extent, for the policy of providing strong reserves, apart from helping the Bank in its operations, assists in equalising the dividends paid upon its shares. The need for a new bank in New Zealand, to meet the enormously increased volume of trade, has long been apparent, and shrewd investors will take full advantage of the opportunity to secure shares at par in The Australian and New Zealand Banking Corporation, Ltd., for such an opportunity has not occurred for forty years. The Directors of the new Bank are men of wide and successful business experience, whilst the general management will be in the hands of competent and experienced Bankers. In view of the sound nature of this investment, it is anticipated that the whole of the present issue of shares will be quickly taken up. Intending investors, therefore, should secure a copy of the Prospectus without delay. The Organising Brokers are Dominion Brokers, Ltd., Somerset Buildings, 155 Hereford street, Christchurch. —2