COMPANY NEWS

Press, Volume LXXVIII, Issue 23588, 16 March 1942, Page 6

COMPANY NEWS

Prudential Building and Investment Society.—A 5>,2 per cent, dividend, amounting to £1567 7s 7d, was paid during the year by the Prudential Building and Investment Society of Canterbury, after which the balance of profit, £ 194, was carried to the general reserve, increasing it to £5017 8s 9d. states the annual report. In addition, £2OO was carried to the mortgage reserve account, increasing it io £852 ss. The A capital shares now issued amounted to £29,812. The war and Government restrictions had increased the difficulties of building societies’ operations. and applications for mortgage money had not been as numerous as previously. At the same time the advantages of a building society table mortgage did appeal to people desiring to own their own homes. The retiring directors. Messrs J. T. Norton and N. Rutherford, and the auditor, Mr P. C. Browne, offered themselves for re-election. MINING DREDGING RETURNS Okarlto. —Tlie wash-up yielded 9oz 17dwt of gold for 126 hours’ dredging. » Maori Gold.—The Maori Gold return for last week was 38oz for 120 hours and 12,000 yards treated. Rimu.— For the clean-up period from March 3 to March 10, Rimu Gold Dredging Co, Ltd, report a return of 58.1 crude oz, the digging time being 84 hours 22 minutes, and the yardage 34,332. Grey River—Grey River Dredging Company report for the clean-up period, March 4 to March 11, a return of 213.1 crude oz. the total digging time being 120 hours 40 minutes, and the yardage 81,948. Blackball Creek Dredge.—The return was 450z in 116 hours. Argo Dredge.—The Argo dredge return for last week was 240z from 12,000 yards treated in 116 hours.

Welcome Club Activities.—On Saturday the staff of the D.I.C. provided tea for about 150 men of the fighting forces at the Welcome Club. Supper, which was attended by a greater number, was arranged by the Fendalton war workers. Yesterday, afternoon tea, tea, and supper were arranged by the General Service Corps, and were attended by about 250 men. Later in the evening a concert, organised by Mr and Mrs J. Cocks, was much enjoyed. Control in Malaya,—The Berlin radio quoted a statement bi the Japanese lieutenant-governor of Malaya that Malaya was being divided into provinces rifled by Japanese governors. The military administration would pass gradually to Japanese civil authority. The property and lives of the sultans would be protected and religious rights would be recognised. Tin, rubber, and other materials were being handed over to Japanese syndicates.—Washington, March 13.