COMPANY NEWS

Press, Volume LXXXVII, Issue 26395, 13 April 1951, Page 10

COMPANY NEWS

Vauxhall Motors.—A record output of 87,454 cars and trucks was achieved by Vauxhall Motors, Ltd,, Luton, during 1950. Net sales of £31,637,999, export business of £17,500,000, and trading profit of £4,532,410 were also the highest ever experienced by the company. < During the current year shortage of steel plate and other materials caused a reduction of 20 per cent, from the previous years' production schedules, instead of a planned expansion, and at the present time the company is working a four-day week. Huge Turnover.—Sears, Roebuck, and Company, the American mail order department store corporation, had a sales turnover of more than 2.500,000.000 dollars during 1950 and a net income of 143.500,000 dollars. Both figures were the highest in the company's history. Federal income of J 160,000,000 dollars Included 23,500,000 dollars of excess profits tax. Other taxes totalled 9,974,604 dollars. Tip Top ice to Increase Capital.—Subject to the consent by the Minister of Finance, the directors of Tip Top Ice Cream Company (Auckland), Ltd., propose to make an issue of ordinary 5s shares in the ratio of one for five held, at a premium of 5s a share. Proposals to increase the company’s authorised capital to £150.000 by the creation of 179,500 ordinary 5s shares and to make an immediate issue of 44,000 ordinary shares at a premium of 5s will be placed before an extraordinary general meeting to be held concurrently . with the annual general meeting in June. The new issue ’will increase the company's paid capital from £80,125 to £91,150 in 264,600 ordinary 5s shares and 20,000 5 per cent, preference shares of Is each.—(P.A.)

lea Cream Cone Venture.—Associated Cone Manufacturers, Ltd., a public company with an authorised capital of £75,000, has been registered in Auckland. The new company, in which the Tip Top Ice Cream Company (Auckland), Ltd., holds an Interest, will manufacture ana deal in ice cream cones, biscuits, and biscuit cones, etc. The directors are Messrs F. A. Newman, G. L. Hayman, and J. V. McKeague, The £75,000 capital of the new ccmpanv is divided into 50,000 ordinary £1 shares and 25,000 3 per <ent. cumulative preference shares of £l. (P.A.)

Mosglei Wool.—An interim dividend of 4 per cent, is declared by directors of Mosglei Woollen Company, payable on May 15, share;’ ex dividend on May 1.

General Industries.—Dividend recommendations for the annual meeting on May 18 are a final. preference of 3} per cent.' and a final ordinary of 5 per cent., both payable May 18—ex May 4.—(PA.)