AUSTRALIAN AGRICULTURAL COMPANY.

Press, Volume LXVII, Issue 20315, 14 August 1931, Page 12

AUSTRALIAN AGRICULTURAL COMPANY.

PROFIT FOR THE YEAR. I Australian Agricultural Company Bhows a profit of £1065 for the year ended December 31st last, and a transfer of £17,000 from the contingency anu ! leasehold redemption reserve, added to the sum of £2824, makes £20,890 available. Interim dividend of Is a share (one per cent.) required £BOOO, and final dividend of Is 6d a share (H per cent.) absorbed £12,000. The dividend last year was 2} per cent., free of-income tax, accounting for £20,000, and £B9O is carried forward. The amount of land tax and Australian income tax charged against revenue was £26,669. Taxation in every State was very burdensome. Drought expenses were £BOI9, charged to revenue. Considerable damago was done by floods in Queensland. Tne report points out that the freehold estates of the company and properties appear at £OOO,OOO in the balancesheet, whereas the unimproved value for land tax purposes is set down at £630,410. For the leasehold properties, sinking funds have been set up, to extinguish all capital outlay by the end of the respective leases, after making a very moderate allowance for the compensation which will be received at the end of the lease. The leasehold estates and properties appear in the balancesheet at £62,549, which represents the outlay charged to capital, less redemption reserve. The value of the Hebburn shares has been written down by £120,000 as a matter of prudence. Capital is £BOO,OOO. There is a reserve fund of £IOO,OOO, and a capita! suspense account of £348,343. Assets are valued at £1,573,778, of which investments amount to £447,799. Shares in Hebburn, Ltd., £160,000, sheep, cattle. and horses £163.043, and debtors £122,915. INCREASED OUTPUT. NEW ZEALAND CO-OPERATIVE DAIRY CO., LTD. A substantial increase in the company's output is reported by the directors in the twelfth annual report of the Xew Zealand Co-operative Dairy Company, Limited, Hamilton, to be presented to the shareholders on August 25th. Prices ruling during the season have shown a sharp decline, duo largely to the world-wide economic depression. The outputs of the commodities manufactured by the company for the past three years arc as follows: — .1928 29 li)2'j-30 Iy3o-31 Tons. Tons. Tons. Butt oi . 27,195 32,451 32,289 Cheese . 5.04!) 0,508 8,389 Casein 714 1,200 1.043 Milk powder . . 4.341 4,88 a 5,017 Condensed mi!',! <J34 • TO for the same years the following table shows the total value of the property and plant, and also capital issued and paid up:— i "is 1030-31. -Land, and plant 1,101.62 c 1,Cf7G,328 1,037.238 Issued captl. 1,307,07-1 1,350,873 1,301,326 Paid-up capital 1,087,53 J 1,130,247 L.180,211 '■'•'Excluding colliery

GOLD MINING. CORNISH POINT CO., LTD. The following report from the mine has come to liarid from the Ccrnish I'oint Gold Mining C'ompauv, Ltd.:— Since wiring you regarding crosscutting, I have opcne4 up in the main drive to prove the width of the gutter and have driven 4ft Gin n.vr., whore th.* bottom started to rise. Aa we continued driving, the bottom gradually rose to the top of the drive, thr-re being no payable wash. I have now started driving ahead east and west. The bottom is starting to go flat, and may take a dip, so I will carry on. Th« wash looking n bit better. OKARITO COMPANY. The following letter has been received from tho Okaritc Fivu Mile Beach Gold Dredging C0.,-Ltd., under date August 11th, 1931: "We have to advise you that there will be no published return this week as the dredge was stopped for practically the whole of last week while a section of the main pipe line was dismantled and relaid nearer the dredge paddock. During tho stoppage certain min.tr repairs were' carried out to the winches. A telegram was received iroin the company's engineer advising that the dredge started again yesterday morning. . ALEXANDER MINES, LTD. The report for Oulj' is as under:— No. 1 Loftus Level—This face is now 79 feet from surface. Tho reof track Bplit in two at 41 feet in, one portion bearing in a south-east and the other in a south-west direction. The level was continued southeast, but tho track being only a mineralised vein a few inches wide, it was considered advisable to carry out some work on tho south-west track beforo driving further. With this object in view 11 feet was driven without disclosing anything of value. No. 3 North Level—A new level waß started from the main crosscut, 20 feet east of the old north drive, and continued for 20 feet on a good reef track carrying from two to eight inches of stone. Value, 2s Bd. Stopin?—Stoping was carried oil in McKay and McVicar blocks, but the heavy snowfall hampered operations, resulting in the reduced tonnage produced this month. Thirty-four tons of ore came from No. 3 McVicar, the balance of 197 tons coming from McKay Block, Mullocky Creek. Battery—The battery crushed 231 tons of oro for a return of 1230z 16dwts of melted gold, and the cyanide plant treated 14(3 tons of sand for 5G03 lldwts of bullion. Total estimated value (inclusive of premium on sale of gold, estimated at £3O), £706. AUSTRALIAN PRODUCE. SYDNEY MARKETS. CVSCtEI) PRESS ASSOCUTTOX—IiV ELECTIUO TELEGRAPH—COPTHIGHT.) (.Received August 13tli, 7.15 p.m.) SYDNEY, August 13. Wheat—Ex trucks, at Sydney, 2s 2d per bushel, at country stations Is 7d. Flour—£lo per ton. Bran and Pollard —£4 per ton. Potatoes —Tasmanian £8 per ton, Victorian £B. Onions—£s per ton. Oats —White and Algerian '-s 6d per bushel. Maize —3s 4d per bushel.