COMPANY AFFAIRS.

Press, Volume LXVI, Issue 20090, 20 November 1930, Page 12

COMPANY AFFAIRS.

AUSTRALIAN OPERATIONS. Wool worths (N.Z.) I*tcL The Australian. office of Woolworths (New Zealand), Ltd., has been informed by the company's head office at Wellington that the recent issue of 25,000 9 per cent, cumulative preference . shares has been over-applied for by the New Zealand i pubJic. The company, which has been trading m New Zealand for a little over a year, is an offshoot of the parent company, "Woolworths, Limited, Sydney, Hogrts Theatres Finances. Owing to heavy capital expenditure in connexion with the electrical equipment of its theatres for "taikies," the directors of Hoyta Theatres, Ltd. (Sydney) notiued ii pref. shareholders last June that, although ample profits had been earned, it was advisable to defer the dividend. The directors have now. come to the conclusion that the position of the company does not justify payment of the : dividend, having to the general financial and trade position. As the B pref. shares are cumulative, arrears of dividends will be paid when the general outlook it> clearer. Victoria Nyanza Sugar. The head office of the Victoria Nyanza Sugar Company acfyises under date November Ist that 2755 \tons of sugar had been manufactured, compared with 2534 tons the corresponding period of last year. company is experiencing * good season, the crop is exceeding the estimate. A- and E. Elite's Heavy Loss. Reflecting the depression in the building trade, a heavy loss of £17,334 is shown by A. and E. Ellis, Ltd.. » Melbourne timber company, for the year ended August dlst. The amount is carried ' forward as a. debi. balance. The debit of £5184 brought into the account has been transferred to reduction of capital suspense acaoeoi, vrhich. appears f„ the balance-sheet at £37,500 pending sanction of the reduction by the Court. The amount of the rediwrftep »» 7s 6d per share, leaving paid-up capital at -.62,50"Buckley and Nuij-n,. litd. A net profit of £46,400 loathe 7«ar ended July 24th is shown in the accounts of Buckley and Nunn, Ltd., of Melbourne,' general providers, compared with £66,214, for the previous year. Interim and final. dividends on ordinary shares at the rate of 10 per aept. per annum ] account for £32,404, dividend the previous , year being at the rate of 13IiVer cent. Preference dividend of 7 per .l- VVt. abs ?™j £10,500. Capital is £474,041,!, of which £150.000 is in preference sharsß. General reserve fund amounts to £128,124, there is a special resene of £20,000. _A.SBete are valued at £942,523, including £fi\>,74l of goodwill. An Exception. . \ Despite a decline in net earning disclosed in the amount of J. and Co., Ltd., for the year ended September 30th last, when the amount, £23,024, fca compared with that of £37,311 for the P*«e ed " iug business period the board has anlaprea to disbursements of dividend at the usual rate of 10 per cent, per annum, and the customary bonus of 5 per cent. The feciera explains that trading profit alone woul<» aoi have sufficed for the payments mentionedl- lor 1929-30, but expressed the opinion tlist. augmented as these earnings were by Inc+me from invested reserves, the usual disbui sements may be safely mad.. JOHNSONVILLE STOCK SALE. [IKB PEEBS Special Serrie«.3_ "WELLINGTON, November 19. At the Johneonvilie Bale, a medium yarding of cattle and a large yarding of sheep and lambs v.* re submitted. Prices for all classes of stock showed a decline. The cattle yarding comprised good quality bullocks, no cows or heifers coming forward. Prices showed a decline of up to 10s pel bead aa compared with last week's rates. Bunners and vealers met with a good Bale at- late rates. The aheeo penned comprised mostly good quality shorn sheep with a few pens of woolly aheep. Competition was good at prices for wethers 3s below last week's rates. Ewes declined 2s to 3s, hogpets 2s, while spring lambs were easier to the extent of 2a to 3» per head. Heavy bullocks made £ls 15s to £l6 10s, prime £l4 2s 6d to £ls ss, runners £2 to £5 2s, vealers £1 6s to £2, woolly wethers 24s 5d to 22e 6d, shorn wethere 18s 9cl to 23® 'd, shorn hoggets 17s 4d to 20s 6d, woolly ewes 14s 7d to l€s 6d, shorn ewes 12s to 14s 2d, spring

lambs 12s 6d to 19s 4d. BURNSIDE MARKET. (TRESS 43»OCTiTIOS HLKviaAU.) DUNEDIN, November 10. A double sale was held at Burnside to-"?, and large yardings of stock were offercd. There vis a good demand for alt prime-quality ~nima ] *, and there was little change xn the tone of the market. . Pat Cattle —The entry comprised over ozu head. The quality was very mixed, but a number of extra prime cattle were The yarding included some extra-prime sho bullocks from Crookston and two trncKS ox extra-prime animals from Stirling. The bai F.-nce of the entry was of medium qualityPrices rea-lised for prime quality bullocKa were about the samo as last week « * Fat Sheep—There was an entry of about 2500 head. Good-quality sheep were forward, including a large number of heavy sheep, both ewes and wethers. The sale opened quietly, but bidding was more spirited later. truck of extra-prime Corrieda-les sold to 41s while a number of trucks of shorn sheep of good quality sold to 395. Extra-prime ewes sold to 335, an improvement of about Zs a head, and made values equal to those which ruled two weeks ago. Shorn sheep were worth 4Jd per lb, heavy woolly wethers sia per lb, and light woolly wethers 5Jd per lb Extra heavy wethers Bold to 445, and extra hea-vy ewes to 31s 6d. Fat Lambs —The entry comprised about «oo head. The quality was fairly good, with a springing of prime lambs and a number oi medium-weights and young animals. Trices realised were about on a p3r with those of last week. There wa« a fairly large entry of store cattle, including about 100 good station bullocks. There was fair competition for this class. Forward three-year-old bullocks sold from £l2 to £l3, and medium three-year-olds from £0 15s to £ll. pigs—The entry was smaller than usua!. there being a shortage of stores. There was a fa-irly brisk sale and prices were well maintained. Prime porkers sold' at about 9d per lb, and prime baconers at about 8d per lb.