BIG OFFICE BUILDING.

Press, Volume LXVI, Issue 19928, 15 May 1930, Page 12

BIG OFFICE BUILDING.

A DUNEDIN PROJECT. • [THE PRESS Special Service.] DUNEDIN, May 14. Ncill's Building, -known, as. the' Universal .Bond, wjiich. was built in 1866, giving its name to the chief mercantile- street in; Duuedin, Bond street, changed . hands . this ruprning, the option that was obtained some months rigo being osercised : by a syndicate, w!)i( ; h has formed itself into' a company for. the purpoae of erecting on thn site a modern nine-storey building of the office typo, 'that will be second to noTie.in New* Zealand. The'price of this property is . .understood to be about £45,000.. It is a. complete rectangular blocik.. with frontages to' Bond, and Crawford streets of-130 feet, and to Water 'and- Liverpool streets' of 8R feet. : The .position is almost unique in, the Dominion. It is in the heart of the big trade immediately' opposite lhe.-site v of ■ the- new-post office, and has the. advantage of lighting that cannot he obstructed. The intention of the company is to commence razing and building operations about the end of next year, by which time the existing leases will Have expired. The new" building Will surpass anything that lias yet - been attempted in Dunodin, and be the last word in modern offica accommodation. The construction-is to be of reinforced concrete,' .supported .on. a raft foundation. The accommodation on the grojind floor will bo reserved for mercantile firms,- - insurance , companies, and the like; and .tlwse, suites; will have ....their vaults in-the Floors will be set apart for doctors, specialists, and dentists, and-subdivided to suit the -re-' quirements of tha individual tenants into consulting rooms, laboratories, work rooms, waiting rooms, etc Having, four street, frontages, the site lends itself-admirably to-subdivision for office accommodation, with excellent lighting for every corner of the.building. Many special features will be incorporated in the designs for the building, such as vacuum cleaning tubes *in' all 'offices, private lifts to tho vaults in the basement, a battery ot three''passenger lifts, postal boxes on every floor discharging to the; central bos in the- hall,' and other facilities. CANADIAN PACIFIC RAILWAY. DIVIDEND OF 10 PER CENT. Dividends amounting to about £7,100,000 were paid by the Canadian Pacific Railway in respect of Its operations in 1929 on capital totalling over'.£9o,ooo,ooo, of which "the ordinary stock: represents £66,000,000; it recoiled 10 per cent., the rata that has bean paid annually - Bince 1911. ■ Gross ' earnings • from ■ railway operation reached a record of £4M00,000 u IM. last year's result-was £42,00(5,000. the,-de-cline bejne'-'dui "to-a refaction-of-'the grain yield' in. Western Canada and retardation of its movement. Net earnings were £8,500,000, in addition '-to- which 1 tho special,;income-r----from investments,; steamships, .hotels, rente, - telegraphfe.etc.—amounted to Alter payment of-fixed charges and provision for pensions," there na* » balance ct £8,300.000, arid after' payment of "-dividends a surplus for the year ot £1,200,000. In. 1928 . the surplus, after payment • ct £6,600,0(50';' in. /dividend* ■ £3,000,000, tfhd in-1927; when dividends, totalled' - £6,000,000; ,;.tho-- surplus wis £!•,roOftOP.': • ;■/' ' ' ••• PROTfXS: EXCEED A jiILLION. Sir.. Pereival;, Firry. ohairmaix of.'the :l'ord' Motor' Company, England, informed shareholders -»t the first annual, meeting of tho company, /held -in' Xjoodpai in March.- last, that profit# of the ua4«rtaldng i w,ero .£1,013,506. A,lo'.pA cent, dividend on a capital of £7,000,000 >w.as"declared; , Tho Reserve fund was £811,736. . Out .of "this, it was proposed, to write off .£3pC»,OQO. I .for T>aten ts and, licensee £25Q,000 for cogdWill; aud £68i8?4 balance of registration* and preliminary " expense*. Rogarding new. works at, Ragenham.'.it was, ex,pectitfJidif*i«ir tfee tinrrpitt year, to- emmemo manufacturing operations in some- . departmSttti. it will: not be until-IOSI, or pfobably' i 932, .that- everything .is complpteu. Tte Cojttpaioy:owns .approximately..49l: acres of freehold - land, and its, own factories will, in tl"> first instance, occupy approw-. mately 71 acres." with 41 : Tetaihed for immediate , development. Contracts, ha.ye - placed,already.to>he valuo pf. over £1.400,000. Contracts »rre; now being . negotiated to the. vilue of dale in respect-of work done amount to approximately --£390,000. Associated European compaiifas- have Maftf .and considerable com* roittpents "for securing bigger- and more-pro-fitable future business. Wages paid in the StanohesWr shops are 2s 9Jd per hour por man, »t. : Cork'-Ss 3id"per hour on a 40-hour Blr Henry Ford was re-elected' director of the -English company. r -rSHARE VAEUBS. ; JANUARY-MAY COMPARISON. '.A comparison of the ■ prices • paid for shares in January when the Stock Ex'chairgea • reopened -after ' the -Christmas holidays, and the : pjrices paid 'last week, shows that values' have . declined, in soma cases rather "heavily,; remarks thj Wellington ' 'Dominion." The comparison is as under:— - , January. May. . £ s d . £ ,B d Aust. : Bk.- of ;Oom. 1 610 1 3;9 Com.- Bank of Aust. 1 5 3 019 9 Commero. of Sydney 23 15 o.'„ ,20 10. 0 Basic K.SiW. ... 41 5 0- 38 17 0 i Union; Bank .. 12 1 6 11 5 0. - Notional *' , tralasia (£s'pd.) 7 13 0 7 . 7 6 E., S.,- and ; A. -Bk.. 618 0 6 4 0 Bank of N.Z. . . 3 18. 0 217 6 -Dalgety-and .Co. i., 12~6 ~ 6 ,11' '8 .6 Goldsbrough, - Hort, - and Co- .. 1 12 6 .1- 9 0 Tooth's Brewery .. 2 0 6 1 12 3 British .Tobacco . , 'S .4 8:. 1 16 6 Dunlop -. Per&riau ' Rubber • ..-.11 6 014. 9 "Electrolytic Zinc 3 12.0' 1" 3 4 Hount' Lyell ... 1. 16 10 1 6 8 . IMPERIAL CHEMICAL 'iNpUSTHIES. " NET . Tjie directors .of Imperial Chemical' Industries,, Ltd., . in. V . preliminary/statement; annousce a net prpfit, after provision; for obsolescence- and Income tax. oi £5,780,208,. corresponding tq £5,212,703 - for . 1928, an in crease ofposal ip £5,889|015. of which thqy have decldeito transfer £629,020 to general reserve and' to -carry. - forward ■ £350,923. There remains #5,00?,072 for distributioo, of which £3,6(W,317- is available, for the ordinary sud deferred * shareholders. The' first of these ara t<» recisive an ; unchanged total.- djvjdead of '8 Jer, cent., and 'the second a dividend of 2 per eenl. ' against 1J per cent.' ini the two CLEARING SALEr Jdnep," McCristia Ga„'. Ltd.,. held « clearing .on. -Tuesday, -on ..account., qf My Nutt, on tjie- promises, . Manchester street.. There was a record' attendance of the public.; Among the 500 lots ' sold, the following' prices were realised £29, bedroom suite £2O, . carpet £B, . sewing machine' £B, occ,, table il .lls, dining itable £4 2s, 6d. dining. ?hairs ',£s 2s «d, couch .£5 10s, carpet £5 2s 6d, wardrobe-£8; djich'esse-*£B 10s, 2- 3ft bedstead? £5 l6s, carpet JSB 10s, easy . chair £4 "3s W; cupboard''£2 ios', 3ft bedstead £2 'Bs '6d, Hall ciirtiins 7s 6d,: ; hallstand #3 -jOi, goat rug £3 .l'7a 6d, piano £l7,'odu6h and_ easy chaitff '£B 16s, card, table; £3 15s, couch ■• and - two-ch»irs : £l4,' rug. '£'4 -2s 6d, ' office chair £3 -10s; .secretaire £2, couch. £6, 2 May, £4 6s, electric washer £2O, ice chest. i£3'..ios,' Electrotyx £7 10s, ' 4 gar- | ides -seats £S 7e,' roller £3.' 10s, .lawn moirer i , »» ; '7f-6a t "4^tto- ; ' •-1 t.J il ( - j.- . 1 ' .. j ;