COMPANY NEWS

Press, Volume LXXXIII, Issue 25300, 27 September 1947, Page 5

COMPANY NEWS

N.Z. FOREST PRODUCTS ACCOUNTS FOR THE YEAR “Tlje Press’ Special Service AUCKLAND, Sept. 26. After providing £50.000 for taxation the net profit of New Zealand Forest Products, Ltd., for the year ended March 31 was £37,872, an increase of £9604. and the highest on record. The profit is to be carried forward, rais ng the amount to the credit of the appropriation account to £98,716. The profit on manufacturing was £103,960, agai’-’St £39,517 the previous year. Interest and dividends, etc., - yielded £13.856, a decrease of £1530. The amount to the credit of the royalty account is now £86.118. representing a substantial increase to the cash resources. Exnenditure on hew projects rose to £64,668, an increase of £48,641. Sales of wallboard cases and timber were* a record, and would have reached a higher figure but for shortages of railway waggons, coal, and electric power. Lack of u?hipping tended to restrict export trade. Imperial Chemical Industries.—lmperial Chemical Industries, Ltd., x has declared en interim dividend of 3 per cent. on ordinary stock payable on December 1. according to advice received from London by Imperial Chemical Industries i <N.Z ). Ltd.—(P.A.) George Court Earnings.—The net earnings of George Court and Sons, Ltd., were £2760 higher at £34,897 for the year ended July 19. The dividend recommended is unchanged at 10 per cent. The profit is struck after full provision for taxation and depreciation. Sales were again a record, the gross earnings rising by £8419 to £201.429. The dividend of 10 per cent, requires £15,000, and £19,897 remains to increase the carry-forward to £147.458. New Zealand Guarantee Corporation. Ltd.—The directors will recommend the payment of a dividend of 2d a share for the year, plus bonus of 6d a share payable from the investment reserve account. making a total of 8d a share.— (PA). Farmers’ Co-op. Dividend.—ln the report of the balance-sheet of the New Zealand Farmers’ Co-operative Association of Canterbury Ltd., published yesterday, the rate of dividend on first preference shares was shown as 5 per cent This should have been 5J per cent., as announced in "The Press” on August 26 WOOL MARKET AMERICAN REACTION TO HIGH PRICES NBW YORK, September 25. The “Journal of Commerce’s” Boston correspondent says io-day. that the high prices for wool at Australian and South African sales are helping to dispose of the much lower-priced American stockpile. The correspondent noted that American buyers at the Empire wool sales were - still being outbid for some special lines which certain American manufacturers always insist upon having. Some American buyers now believe that the buying activity in the Empire sales by British wool merchants is largely influenced by the dollar shortage. This is considered good business, even if they nave to sell wool to America at a loss. BRITISH EMPIRE STOCKS (P.A.) LONDON, September 25. Quotations for British and Dominion Government's stocks are as under:— Consolidated stock. £B2 12s 6d; Funding loan, £lll 2s 6d; War Loan. £lO2 12s 6d; Conversion loan, £lO3 8s 9d; Victory bonds. £lll 11s 3d: New Zealand. £lOl 3s 9d; New Zealand. £lOO 17s 6d. LONDON MINING (P.A.) LONDON, September 25. Quotations for mining stocks are as foliov/s:— Broken Hill North, 63s 6d; Zinc Corporation. £5 4s 4Jd: Electrolytic Zinc, 535; New Broken «Hill. 36s 4Jd. MINING Ngahere.—The Ngahere return for the four weeks ended September 26 was 771 ounces from 236,111 yards worked in 486 hours.