COMPANY NEWS

Press, Volume XCI, Issue 27634, 15 April 1955, Page 17

COMPANY NEWS

Perpetual Trustees.—The directors of the Perpetual Trustees Company, Ltd., have decided to recommend to shareholders at the annual meeting on May 24 that a dividend of Is a share and a bonus of 6d a share be paid for the year ended March 31.—(PJL.) Martha Mine.— The Martha Gold Mining Company (Waihi), Ltd., London, earned a net profit of £82,428 in the year ended December. 31, according to preliminary results cabled from London to the New Zealand attorney, Mr R. G. Milligan. The cablegram states that the profit figure hss been affected by the inclusion of £36,868 earned in respect of sales of property and plant. In 1953 the net profit was only £2940. The dividend of Is a 6d share, announced earlier this week, will absorb £40,591. It is payable' on May 17. The directors state that their report will not contain any recommendation for a further dividend for the 1954 year. The cablegram adds that the accounts for 1954 will be published in London about April. 20.—(P.A.) „ Dunlop (N.Z.) Accounts.—Net profit of Dunlop, (New Zeland), Ltd., for the year ended December 31. 1954, was £72,034. Against £96,897 the previous year. Profit after Providing £153,132 (£156,384 in 1953) for depreciation, and £123,870 (£127,025) for taxation. Preference dividend of. 4J per cent, takes £20,806. and ordinary dividend at the unchanged rate of 5 per cent, takes £375,000. A sum of £9264 (nil in 1953) is written off expenses prior to production, and £10.875 (nil) is . written off preliminary expenses in 1953. A sum of £22,500 was repaid to the Dunlop Rubber Company, LtdEngland, being the amount of the 1952 preference dividend and social security Carry-forward is £24,574, against £30,985 brought in. Trading profit after providing for distribution and administration was £362,368 (£40.699). The directors state that provision for taxation appears high in relation to the profit for the year, due to the difference in treatment of certain expenditure and depreciation in computing taxation, as compared With the financial accounts. Sales* turnover showed a satisfactory increase, but overall selling prices and margins were lower and net profit showed a decrease of £28,018. Production at Upper Hutt and the Woolstdn factories increased in line with higher sales requirements. Business in imnorted products was again satisfactory.—(P.A.) STOCK SALES OXFORD A fair yarding of lambs and ewes at the Oxford fat lamb sale sold at very satisfactory prices yesterday. Fat lambs sold to 67s Id and fat ewes at up to 28s Id. Representative sales were Forestdale Sheepfarming Company, 81 lambs at 61s Id; G. A. Bitmead, 75 lambs at 59s Id to 61s Id, 10 ewes at 24s Id; T. Doody, 120 lambs at 62s 7d to 67s Id, 12 ewes at 26s 7d; E. T. Suckling, 19 lambs at 61s Id: Parkinson and Stokes, 65 lambs at 60s to 62s Id; D. S.. Lamberton, 65 lambs at 59s Id; E. V. 129 lambs at 65s Id to 65s 7d; J. J. Howard, 85 lambs at 58s Id, 23 ewes at 26s Id; Mrs C. H. Howard, 10 ewes at 26s Id; A. Brown, 39 lambs at 67s Id and 6 ewes at 28s Id. STUDHOLME JUNCTION (From Our Own Reporter) WAIMATE, April 14.A small yarding of fat sheep sold at late rates at the Studholme Juncition sale. There were a number of passings in the store sheep section, reserves on a number of pens of two-tooth ewes of excellent quality being too high for buyers. Cattle met with a dragging sale because of a small attendance of buyers. Yardings of both sheep and cattle were of medium size. were Fat steers, £2B 2s 6d to £39 12s 6d; fat heifers, £l7 12s 6d to £36 12s 6d; fat cows, £9 12s 6d to £lB 7s 6d; fat runners, £22 12s 6d to £29 12s 6d; rising two-year steers, £l5 5s to £lB ss; heifers. £l6 to £lB 2s 6d; mixed sex calves, £8 15s; bull, £23. Fat wethers, 55s Id to 68s; fat lambs, 55s Id to 60s Id; fat ewes, 24s 4d to 25s Id; two-tooth Romney ewes, 80s 6d to 100 s: two-tooth three-quarterbred ewes, 725; six and eight-tooth Romney ewes, 37s to 535; six and eight-tooth three-quarter-bred ewes, 28s; rape ewes, 12s 6d to 13s; rape lambs, 425; Romney cross ewe lambs, good 60s, small 31s 6d; wether lambs, small, 255.