FARMERS' FERTILISER

Press, Volume LXXXVII, Issue 26491, 4 August 1951, Page 8

FARMERS' FERTILISER

EXTRACTION OF SULPHUR ARRANGED

(New Zealand. Pritt Atsociattonf AUIqkLAND. August 3. “The first commercial plant for extracting sulphur from low-grade surface sulphide ores is now; under erection and others are being negotiated fdr in America and elsewhere, said Mr S. Irwin Crookks, chairman of the NJE. Farmers’ Fertiliser Company, Ltd., at the ahnual meeting today. "Consequently, while we cannot at present get all the sulphur we want, indications are that in a couple of years the situation will be eased."

The price of raw materials had increased substantially during the last year and was reflected in the price of fertiHsers. Increased shipping freights had added to costs and transport difficulties had affected the dispatch bf the quantities manufactured. Standard rate* of depreciation were inadequate for the industry, and it had been necessary to increase the company’s depreciation abOvt * sl i an . tlard ■ 4. Last year. the company instituted an obsolescence fuhd, and this year was adding to it. Out-Of-dSte plant had to be replaced by more efficient equipment. Taxation was very high, but the company was hoping for some relief when the commission which was understood to be investigating the question gave it* report.

Dominion Builders’ Supplies.—A slight JJ et , P rOflt *V er S* provision from £3012 last year to £3037 is shown m the accounts of Dominion Builders’ Supplies (Christchurch), Ltd., for the year ‘L’V&S Wlo l the addition of £lB9B brought forward, the limbtint available for distribution is £4839. The directors recommend a dividend bf 7 per cent. o f 800111 security tax), involving £lB9O, leaving a carry-forward of £3345. Last years dividend,was 7 per cent., plus ttraew ss balancing, total is £47,975, as compared with £37,820 last year. Ih ekotessing the . opinion that for many years the company had felt the need of a constant source of timber supply, the directors state that during the year they purchased the Okuku Mills, Ltd., the whole of the output bf Which will be delivered to the company, .. Standard Insurance Accounts.—The annual report of the directors of the Standard Itiilirance Company, Dtd., states that the , Underwriting tevbnue for the year amounted to £437,737 The surplus on the Vedr's operations, including interest (but after making full provision for all ascertained losses, taxation, depreciation, provident fund. and unexnired risks) dmbunts to £57,355. to which has to be added the carry-forward from last year of £29,620. An interim dividend was paid in March last amounting to £15.n00, and. after placing £20.000 to the credit of exchange and investment fluctuation reserve the directors now recommend a final dividend of Is, 6d a shire. There (P A)* Mrry fbr * ard ttf «38,975. r i Australian ConSoHditcd Industries, has received the approval of the Capital Issues Board to issue 894.443 ordinary shares, of £1 each at a premium p . er sh * rfe - N cw shite* will be offered to ordinary shareholders, on the basis of two for 15 held on AugUsi 13, and JP? ls «A Pa i ab ? on application. and a further 20s by January IS. Holders of new shares are entitled to half the aggregate dividend payable on bid shares for the year ending June, 1952, and thereafter eX,Btlng Ordinary