COMPANY NEWS

Press, Volume LXXXIX, Issue 27191, 7 November 1953, Page 8

COMPANY NEWS

ANDREWS AND BEAVEN The annual meeting of shareholders of Andrews and Beaven, Ltd., will be oeio on November 27, when the dirertors will recommend the payment of dividends as follows: _ Ordinary shares: old issue, a dividend at the rate of 7>/ 2 per cent, per annum for the 12 months ended June 30, 1953, absorbing £5250. Ordinary shares: new issue allotted January 21, 1953, a dividend at Hie rate of 1 1 / 2 per cent, per annum for the six months ended June 30, 1953, absorbing £750; 5 per cent, cumulative preference shares: two interim dividend on old and new issues of preference shares for the half-yearly periods ended December 31, 1952, and June 30, 1953, have already been paid, and confirmation of these paymeqjs will be sought from the annual meeting. The ordinary share register of the company wiH be closed for dividend purposes trom November 23 to 30, inclusive. Kauri Timber.—A final dividend of 3 per cent., plus a bonus of 2 per cent., is announced, ex December 3-—(P-A.) Brace Woollens Profit—After providing £20,899 (£21,337 last year) for deprecia tion on buildings, plant and machinery, and making provision for payment of income tax and social security tax, the net profit earned by the Bruce WooUen Manufacturing Company, Ltd.. Milton, is £22,841 (£16.126). Added to the balance of £16.865 (£16,539) carried forward from last year, this makes a total in the profit and loss; appropriation account of ,£39.706, (£32,655). The directors reqpmmend a dividend on cumulative preference shares, of £2BOO (unchanged), payment of a divi-> dend of 8 per cent, on ordinary shares' requiring £BOOO (unchanged), transferring to the reserve account £lO,OOO (£5000), and carrying forward £18,706 (£16,065). (P.A.)

MINING Snowy River.—For the two weeks ended November 6, the dredge recovered 109 ounces of gold from 39.000 yards in 228 hou r5.—(F.0.0.R.) Clutha River.—For the week ended October 30, the dredge worked 126 hours lor 90oz gold.—(PA.)