COMPANY NEWS

Press, Volume XC, Issue 27367, 4 June 1954, Page 14

COMPANY NEWS

Clyde Engineering.—Final dividend recommended is 4>/ 2 per cent., making 7% per cent, for the year. Paton and Baldwin.—Patons and Baldwins (Australia), Ltd:, knitting wool makers, earned a net profit of £261,267 for the year ended May 2, against £329,605 in the previous year. Provision for tax was £124,948 lower at £168,300. Ordinary dividend is steady at 6 per cent., absorbing £90,000, and the 5 per cent, preference dividend requires £37,500. Reserve has been credited with £150,000 (against £200,000 in 1952-53), and the remaining share issue expenses of £40,000 have been written off. After writing back £65,591 tax overprovided in the previous year, the carry-forward is £9358 higher at £49,292. A. S. Paterson’s Capital Structure.—The question of making some change in the capial structure of A. S. Paterson and Company may be placed before shareholders • later this year, according to an indication in the directors’ annual report. The accounts show a net profit of £29,649 after taxation, compared with £22,168 in 1953. As already announced, total distribution on ordinary shares will be 10 per cent, for the year (final 41 per cent, plus a per cent, bonus). This, with the 5 per cent, preference dividend, will require £26,650 as against £20,300 last year, when the ordinary dividend was 7% per cent. Carry forward is £22,965.—(P.A.) COMPANIES REGISTERED Registration of the following companies is notified in the current issue of the “Mercantile Gazette”:— Alpha Pharmaceuticals, Ltd. Private company. May 14; 118 Hereford street. Capital: £lOO in £1 shares. Subscribers: Christchurch, L. H. V. Longmore 33, R. Smith 32, H. R. Fountain 35. Objects: Manufacturers of and dealers in drugs, chemical, and Incidental. Staffordshire Finance Corporation, Ltd. Private company, May 17; 148 Manchester street. Capital: £lO,OOO in £1 shares. Subscribers: Christchurch, W. A. Merritt 9500, R. S. Merritt 500. Objects: Financial and commercial agents, and incidental. Gluyas Motors, Ltd. Private company, May 18; Kermode street, Ashburton. Capital: £lO,OOO in £1 shares. Subscribers; Ashburton, R. J. Gluyas 9700, M. E., J., and J. R. Gluyas 100 each. Objects: Garage proprietor and incidental. Clark (Hugh) Riverside Farm,. Ltd vate company, May 19; River road, No. 6 R.D., Ashburton. Capital: £20,000 in £1 shares. Subscribers: Ashburton, H. Clark 16,000, H. E. Clark 4000. Objects: Farmers and incidental.

Kennedy Sawmilling Company, Ltd. Transferred from Hokitika registry. Metropolitan Motor Bodies, Ltd. Private company, May 20; 3 Moule street. Capital: £lOOO in £1 shares. Subscribers: Christchurch. A. J. Steer 998, P. E. Steer 1, S. E. Field 1. Objects: Panel beater, motor-body repairer, and incidental. Wilkins (C. M.), Ltd. Private company, May 20; 505 New Brighton road. Capital: £4OOO in £1 shares. Subscribers:. ChristM. Wilkins 3220, D. J. Wilkins 780. Objects: Plumbers, drainlayers, and heating engineers and incidental. Santa Fe, Ltd. Private company, May 21; 116 Hereford street. Capital: £3OOO in £1 shares. Subscribers: Christchurch, 2: , J - aHd s - Johnston 1500 each. Objects: Milk bar proprietors at 154 Armagh street, and incidental. Revlon Furniture, Ltd. Private company, May 24; 63 Cathedral square, Christchurch. Capital: £1650 in £1 shares. Subscribers: Christchurch, C. E. M. Abbott, J- T. MeAHster, N. J. Dickie 550 each. Objects: Furniture manufacturers and incidental. Increase of Capital J J * Capital increased from £4400 to £BBOO. MINING Arahura.—Arahura Gold Dredging. Ltd., the unit operated by Gold Mines of New Zealand, Ltd., won a total of 896 ounces of gold from 301,000 yards of material treated in. 533 hours during May.