COMPANY NEWS

Press, Volume LXXXIII, Issue 25290, 16 September 1947, Page 8

COMPANY NEWS

PAPAROA.COAL COMPANY (P.A.) WELLINGTON, September 15. At a special meeting at Wellington today, shareholders of the Paparoa Coal Company, Ltd., decided to put the company into voluntary liquidation. It was stated that the first distribution of ifc a share would probably be made within a fortnight. * The company’s undertaking and assets, excluding liquid assets, wera sold to the State in April. TIMARU LIME COMPANY An available balance of £llOl 8s 8d I* shown in the accounts to be presented to the annual meeting of the Timaru Lima Company, Ltd. The directors recommend in the annual report of the company that this should be allocated to the payment of a dividend of 5 per cent., £650, leaving a balance to be carried forward of £451 Bd. The report says %that as periodical shortages of labour, materials, and railway waggons retarded output, and everincreasing costs made it difficult to maintain a favourable ‘trade position, the present position could, in the circumstance, be considered satisfactory. Mr Percy A. Elworthy retires from the board of directors, but Is eligible for re-election, and has offered his services for a further term. Feit and Textiles.—This company announces dividends at the rate of 6»i per cent, per annum out of profits for the year ended June 30, 1947, and at the rata of 6 J A per cent, per annum out of taxfree profits, the aggregate therefore being at the rate of 12’/ 2 per cent, per annum, the same as was paid on April 1, 1947. Thege dividends, as well as the halfyearly dividend on 6 per cent, first preference shares, are payable on October 1. Wincbcombe Carson. Ltd.—Net profit of £64,386 for the year ended June 30 haa been exceeded only once, in 1937. It is an increase of £7230 on last year. Dividend remains at 7 per cent., the rate lor the last five years, and requires £38,500. Reserve is increased by £20,000 (£5OOO more than in recent years), and carry forward is £5886 higher at £23,409. Bartholomew Timber Co.—Final dividend of 4 per cent, payable September 25, makes 7 per cent, for the year (unchanged ) Bond’s Industries, Ltd.—A final ordinary dividend of 4 per cent, is recommended, making 8 per cent, for the year, against 7 per cent. This and the final preference payment of 3 per cent. payable on October 15. Masonite Corporatton.---Trlplication of the plant now in progress should enable Masonite Corporation (Aust.), Ltd., to meet all requirements reasonably soon, said the chairman, Mr E. S. Wolfenden, at the annual meeting in Sydney, finance was available for this expansion. Peters Ice (Victoria). —A record net profit of £51,524' is reported by Peters Ice Cream (Victoria), Ltd., for the year ended June 30 The result compares with £48,928 last year, after an adjustment of £2643 for taxation over-provided for 194546 Total distribution, raised from 12 per cent, to J 5 per cent., including bonus of 3 per cent, in each year, requires £29.285. Silverton Tramway Co., Ltd.—A final dividend of 6d a share, making 10 per cent, for the year, is payable on Septem* ber 24 (ex September 6). Cox Bros., Ltd.—Final dividends of per cent, (making 7 per cent, for the year) on the A and B preference shares and 3% per cent, (making 7*/ a per cent, for the year) on the ordinary shares are recommended. The dividends, which are unchanged from last year, are payable on September 30 (ex September 9). Hoadleys Chocolates, Ltd.—Half-yearly interim dividends of 3 per cent, on the preference shares and 6d a share (unchanged) on the ordinary shares are payable on October 1 (ex. September 23). Timaru Lime Company.—The accounts of the Timaru Lime Company, Ltd., for the year ended August 31, 1947, show an available balance of * £llOl, to be allocated as follows:—payment of 5 per cent, dividend (unchanged), £650: balance to be carried forward, £451. The profit for the year was £973, subject to £250 provision for taxation, against £B7B for the previous year. The directors note that throughout the year periodical shortages of labour, materials, and railway wag{;ons retarded the output, and evel -- ncreasing costs were making it difficult to maintain a favourable trading position. Howard Smith Dividend.—The directors of Howard Smith, Ltd., have resolved, subject to audit, to pay an interim dividend for the year ending December 31. 1947, of 1} per cent, on the ordinary capital of the company. Transfer books wifi be closed October 8 to 22, both days inclusive.—(P.A.)