COMPANY NEWS

Press, Volume LXXXV, Issue 25735, 22 February 1949, Page 6

COMPANY NEWS

1.C.1. Call on Capital.—lmperial Chwnk cal Industries of Australia and New Zeal land, Ltd., is making a call of 5s on corw tributing ordinary shares, making thern 15s paid, payable April 1. British Celanese (Overseas), Ltd.—Th, directors 6f British Celanese, Ltd., have decided, because of the increasing import, ance of the company’s export trade, tn form a wholly-owned subsidiary, British Celanese (Overseas). Ltd. The capital of lhe company will be £lOO.OOO. The new company will commence trading on April 1, 1949, and for the time being will con. cern itself solely with the export of the parent company's products. H.B. Profit.—A net profit of £21,730 was earned by Hallenstein Bros., Ltd., Dunedin, for- the six months ended December 31. The result was reached after the pro. vision of £33,710 fior taxation and de. predation, and contributing £2527 to the staff superannuation fund. In the cor. responding period in 1947, net profit wu £20,728. Unchanged dividends at the rate of 5 per cent, per annum are reoom. mended on both ordinary and preference shares, requiring £8375, leaving £9l to be carried forward, against £78,635 brought in. Dividends, without deduction for social security tax, are payable on February 24. Gross profit for the half, year was £150,362, against £134.026 in 1947. Carlton Brewery Profits Fall.—Carlton Brewery, Ltd., Melbourne, shows a fall of £9756 to £99,340 in net profit for the year ended December 31. The dividend is reduced from 13 to lift per cent, and requires £93,954. The reserve is increased by the remaining £5386. New Metal Investment Company.—Consolidated Zinc Corporation, which hai been registered in London as a private company, has objects extending to metal industries in all parts of the world. The capital of the company is £3OO. comprising 100 4 J / a per cent, shares, 100 ordinary shares, and 100 unclassified shares. Many well-known names in London financial circles are connected with the corporation, says the "Financial Times." The objects of the company are to develop, extend, carry on or finance, assist or take part in lead and zinc mining and other metal or raw material producing industries throughout the world, and m particular in the British Empire, and the smelting, manufacturing, and other associated industries. The directors, It is stated, are authorised to act. notwithstanding that some of them may be interested, for the purpose of acquiring any of the issued share and stock capitals of the Zinc Corporation. Broken Hill Corporation, Imperial Smelting Corporation, and Sulphide Corporation. Record New ZeaJand Tobacco Prodcetion.—Production of tobacco leaf in-Rew Zealand in the season ended July 31.1946, reached record proportions at 4,778-MTlb. against 4,706,7231 b in 1947, according to the annual report of the Tobacco Beard. This is the fourth year in succession that increased production has been achieved in spite of shortages of labour and material, states the board. Unusually heavy falls of rain followed by long, dry spells were experienced in the growing season, but the crop made excellent growth and was harvested with a mhamum of loss. During the year the minimum percentage of domestic leaf which all manufacturers were required tc use in their total manufacture was 30 per cent., and this was later increased to 32per cent, for the 12 months commencing August 1, 1948. The total contract acreage under crop during the year was 4361 acres, against 3934 acres in 1947. Insurance payments for crop damage by frost and flood totalled £1093, against £5 the previous season.