COMMERCIAL

Press, Volume LXXVIII, Issue 23751, 24 September 1942, Page 6

COMMERCIAL

♦ STOCK EXCHANGES

FREE BIDDING BY BUYERS

There was a slightly increased turnover on the Stock Exchange yesterday, but buyers’ requirements generally were far from satisfied. Buyers were again bidding freely at the official calls, and although no business was written on 'change, vestibule sales were completed in the following stocks:—3oo National Mortgage “A,” at39s 6d, 250 N.Z. Refrigerating, contrib.. at 9s 8d; 300 Kaiapoi Woollens, at 19s 3d; 100 Electrolytic Zinc, ordinary, at 465. AUCKLAND Sales.—Stock, 15/1/53-57, 3J p.c., £lO3 10s (2); Auckland Gas. Perpetual Debentures, 3J p.c., £81; Radio (1936), 10s 6d; Union Oil. 27s 6d; Woolworths Holdings, 18s sd; Mount Lyell, 27s 9d; Consolidated Brick, 7s 3d; Broken Hill Pty., 38s; Martha. 8s 9d. WELLINGTON Sales.—War Loan, 1/10/1953 (2), £92 ss; Stock, 1953-57 , 3J p.c., £lO3 10s; National Bank of Australasia (£5 paid), £5 10s; National Mortgage “A,” £3 9s 6d; N.Z. Insurance, 71s; Taranaki Oilfields (2), 6s; Timaru Woollen, 19s; Martha, 8s lOd. DUNEDIN Sale.—Donaghy’s Rope. 50s, .-Sales Reported.—Liberty Loan, 3 p.c., £9B 12s 6d; Biuce Woollen (ord.), 255. BEATH AND COMPANY

YEAR’S NET PROFIT £10,969

The annual accounts of Beath and Company for the year ending August 19 show that the profit and loss appropriation account is as follows:

The net profit for the year is £10,969, adding to this the amount carried forward from last year £20,740, less the final dividend paid £4166—£16,574, There is a total for appropriation of £27,543. The directors recommend that dividends be paid out of the profits for the year as follows:—On £1 5 per cent, cumulative preferences shares, £500; on £1 ordinary shares at the rate of 6 per cent, per annum, £6714—£7214; less interim dividend for half-yeair ended February 19, 1942, which absorbed £3607 £3607; leaving a balance to carry forward of £23,936.

The above, dividends are not subject to social security charge or, national security tax, as the company is again paying these taxes. If sanctioned by the meeting, dividends will be paid on or after October 12. Trading: The company has had another successful trading year and there has been a substantial increase in turnover. However, the profit from the Increased sales has been almost all absorbed by increased taxation. Mr A. W. Beaven retires from the board by rotation, and, being eligible, offers himself for re-election. The retiring auditors, Messrs William Jameson and Son, again offer their services. The transfer books of the company will be closed from September 29 to October 12, both days inclusive.