COMPANY NEWS
Turnbull and Jones.—-This company reports a net profit of £33.463 for the year ended March 31. aa against £35,780 for the Rf£y lou * Fear. Provision for taxation is £38,151. compared with £38.641. with £Bll over-provided for tax last year, there is available £34474. General reserve gets £15.000 (£20.000 last year), the 8 per cent, dividend £14.000. the 5 per cent, preference dividend takes £5OOO, and there is a carry-forward of £40,305 compared With £40.030 brought in.—(PJL) Auckland Meat Company.—A final dividend of 6 per cent, is recommended, making 10 per cent, for the year.—(P.A.) RESERVE BANK RETURN A further seasonal drop of £1,896,000 in sterling exchange holdings is recorded in the Reserve Bank return for the week ended August 25. The fund now stands at £85,355,000. _ Details (all in thousands), with the figures for the previous week attached, are as follow*:
WELLINGTON CUSTOMS RETURNS (New Zealand Press Association) WELLINGTON. September 1. A substantial rise in customs revenue was received in Wellington last month, compared with August last year. The months total of £2,031,019 was £524,173 higher than the same month last year. The main items, with the August, 1953. figures in parenthesis, were:—Customs, £938,729 (£695.886); sales tax. £877481 (£699,399); national road tax, £159,516 (old petrol tax, £56,058). MINING Arahura Dredge. The return is announced from the Arahura gold dredge, operated by Gold Mines of N.Z., Ltd. During August the dredge won a total of 951 ounces of gold from 315,000 yards excavacted in 532 hours.
CHESS
SCHOOLBOY TOURNAMENT IN CHRISTCHURCH In preparation for the New Zealand schoolboys’ chess championship . tournament which will begin in Wellington on Saturday, a tournament is being held at the Christchqrch West High School to select two aspirants for Dominion honours. Ten boys are competing, seven from Christchurch and three from Hokitika. Progress results are:—D. Lorking beat D. Forbes. N. Richards, J. Fielding, and S Moor « beat N. Richards. S. Haigh. and J. Dunn; J. Fielding beat S Haigh, N. Richards, and D Forbwi; R. Stewart beat L. Richards, and Forbes beat Dunn. Play will be continued this morning.
Liabilities General reserve fcug. 11. Aug. 18. (£000) (£000) 1.500 1.500 Bank notes 67,822 67,930 Demand liabilities— (a) State: (1) Govt. marketing 3 3 (2) Other 4,710 4,809 (b) Banks 78,599 78,337 (e) Other: (1) Marketing’’' orgns. 946 1,283 (2) Other 2,018 1,038 Other currencies 32 34 Other liabilities 6,609 6,172 M 162,248 161,647 Assets Reserve— (a) Gold 6,172 6.172 (b) Sterling exchange 87,251 85,355 (c) Other exchange 375 466 Subsidiary coin .. Advances— . 600 600 (a) State: (1) Govt. marketing 5,705 5,148 (2) Other purposes .. 23,945 25,669 (b) Othe- : Cl) Marketing orgns. 43 — (2) Other advances .. 13,369 13,716 Investments— Sterling .. .. 23,716 23716 Other 246 248 Other assets .. 826 874 VMM. 162,248 161,647
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Bibliographic details
Press, Volume XC, Issue 27444, 2 September 1954, Page 15
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457COMPANY NEWS Press, Volume XC, Issue 27444, 2 September 1954, Page 15
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