COMPANY NEWS

Press, Volume LXXIV, Issue 22445, 5 July 1938, Page 13

COMPANY NEWS

BOOTS PURE DRUG era on ooa own coebuspohdekt.) LONDON, June 18. Speaking at the fiftieth annual general meeting of Boots Pure Drug Company, Lord Trent said: “The directors are satisfied with the steady progress which our two pioneer New Zealand branches —in Auckland and Wellington—have made in all sections. We have not yet been able to open further branches in New Zealand because of the Government’s conservative" policy toward the pharmaceutical industry, but with public opinion on our side, we have every hope that restrictions on our progress in the Dominion will gradually be removed.” After payment of all preference and preferred ordinary dividends, and of four quarterly dividends of 6 per cent., less tax, on ordinary shares, the company has a balance of £281,875, which, together with the balance brought forward, amounts to £598,862, compared with £617,238 last year. The directors recommended the payment of a bonus of 3d a share, free of income-tax. on the ordinary shares, absorbing £BO,OOO.

A AND T. BURT A profit of £44.969 is reported by A. and T. Burt, Ltd., engineering firm, for the year. The directors’ report states that irt last year’s balance-sheet a credit balance of £11,985 was shown in the profit and loss appropriation account before making provision for income tax. After payment of income tax and two years’ preference dividend, and recrediting the balance of the deposit and interest suspense account (which is not now required), there was a debit balance of £1969. . The results of the present year’s operations will leave a credit balance of £42,999 in the profit and loss account, subject to payment of income tclX> ' Last year's net profit was £38,595.

MINING MOUNT LYELL The Mount Lyell Mining and Railway Company, Lid., progress report for the fortnight ended June 22 slates: Mines—North Lyell: Tons extracted, 3798. Crown Lyell: Tons extracted, 2054. West Lyell: Tons extracted, 29.194. Lyell Comstock: Tons extracted, 3484.

Reduction Works —Furnace in blast tor eight and one-third days of period; 8120 tons refinery anodes made for current year. Concentrator: Mill operated 336 hours, and treated 36,312 tons ore. producing 2030 tons concentrates. Copper refinery: Tank-house in operation throughout fortnight; 492 tons copper produced for period. Total for current year, 8817 tons.

CLUTHA RIVER The Clutha River washup is 130oz for 128 hours. MATAKI JUNCTION The Murchison Mataki Junction return for the week ended June 30 was 440z smelted gold for 126 hours and 20,000 yards dredged. OKARITO Okarito dredge return is 19 ounces 9dwt for 48 hours’ work. MATAKI The Mataki return for the week ended July 3 was 36 ounces for 131 hours’ work and 8000 yards. GOLDFIELDS DREDGING The Goldfields Dredging return is Boz 17dwt for 130 hours’ dredging. DUVAUCHELLE CATTLE SALE A SMALLER YARDING There was an entry of about 200 head of cattle at the Duvauchelle monthly cattle sale, and a good attendance. Fat and store cattle realisations were on a parity with Addington rates. A line of nine fat steers offered on account of W. H Moore (Hickory) sold from £l3 7s 6d to £l3 17s 6d. The range of values was:— Fat steers, £8 10s to £l3 17s 6d; fat cows, £7 to £10; fat heifers. £7 7s to £11: steer calves £4 3s, heifer calves £2 18s to £4: 20 months steers, £6 10s to £7 ss; 20 months heifers £4; two and a half-year-old steers £7 13s 6d to £8 17s 6d.