COMPANY NEWS

Press, Volume XC, Issue 27374, 12 June 1954, Page 8

COMPANY NEWS

Mount Morgan.—Final preference dividend of 3J per cent, is payable at Sydney on August 14, ex July 19.—(P.A.) D. C. Street.—Net profit of D. C. Street Construction Company, Ltd., Hamilton, increased by £6052 to £15,575 in the year to February 28—the company's third year as a public concern. The result was struck after provision of £l5ll more for taxation at £16,817, and £lO2B more for depreciation at £9072. The directors again do not recommend an ordinary dividend. Payment on the publicly-held 5 per cent, preference shares takes £2SCO, and it is proposed to transfer £20,000 to a general reserve and £314 to the share investment reserve. These appropriations exceed the net income by £4490, and carry-forward is reduced from £16,157 to £11,667. Gross inepme from all sources increased by £20,104 to £101,467, and expenses, apart from taxation and depreciation, were £11,863 higher at £60,003. —(P.A.) Radio Corporation.—Net profit of Radio Corporation of New Zealand, Ltd., for the year ended December 31, was £5731, against £10.173 the previous year. The profit includes a dividend of £l7aO (£5OOO last year) from the subsidiary Radio Centre. Ltd., and is struck after providing £4500 (£5000) for taxation. An unchanged dividend of 5 per cent, takes £4002. leaving a carry-forward of £18,482 (£16,753).—(P.A.) MINING Grey River Dredge.—The Grey River Dredging Company. Ltd.’s return for the latest clean-up period. May 25 to June 9. was 47930 z of gold from 16,300 yards worked in 2591 hours. May totals were 966£0z from 359,000 yards worked in 570 hours.