COMPANY NEWS

Press, Volume XCI, Issue 27641, 23 April 1955, Page 10

COMPANY NEWS

Mauri Bros. Issue.—Mauri Bros, and Thomson, Ltd., has issued 10,000 £1 ordinary shares for the purchase of a minority interest in a subsidiary. Commercial Bank’s New Issue.—The Commercial Bank of Australia, Ltd., plans to make an immediate issue of 2,105,868 10s ordin ~\j shares at a premium of 5s (Australir i currency) a share to stockholders. The basis is one new share for each three units of both preference and ordinary stock held.—(P.A.) Bank New South Wales.—A quarterly interim dividend of 9s a shares (Aust.) is payable on May 26, ex May 7.—(P.A). Transport Nelson Holdings.—A final dividend recommended is 4 per cent., payable July 20, ex June 16.—(P.A.) Greers Industries.—Consolidated net profit of Greers Industries, Ltd., and its subsidiary, R. Greer and Son, Ltd., clothing manufacturers, rose by £3420 to £12,992 in the year ended March 31. The result was struck after providing £2957 more for taxation. It is proposed to increase paid capital by £35,000 to £150,000 by a cash issue at par. The amount paid to the parent company in dividend is £1725 higher at £8625, and the parent company’s distribution to shareholders has been increased to 7J per cent, by a bonus of 1J per cent.—(P.A.) Dalgety and Co.—An interim dividend of 3.36 d a share (less 8.1. tax), is payable on May 20, ex May 30.—(P.A.) General Industries.—Final dividends are: 5 per cent, ordinary, 31 per cent, old issue ? reference, new preference at the rate of per cent, from August 6, 1954, to February 28, 1955. Shares are ex dividend on May 6.—(P.A.) The Farmers’ Trading Co., Ltd.—The company will pay the final dividends on the A, B, and C preference shares on May 31. Payment on the A and B shares is at the rate of 7 per cent., less 20 per cent* deduction under the Interest Adjustment Act, while on the C shares the rate is 5 per cent. Foy and Gibson.—The directors of Foy and Gibson, Ltd., recommend shareholders to accept the offer of Cox Bros. (Australia), Ltd. The offer, they state, was “eminently satisfactory, not only in price, but because it ensures continuity and expansion of the company’s retail business under its own name and security for employes in the retail section.’’ Foy’s shareholders will be issued one 10s share each in Eagley Mills, Ltd., for each share held in Foy and Gibson. This is being done to separate the Eagley Mills section from the Foy group. The mills are the only section not included in the offer received from Cox Bros, for the ordinary capital in Foy and Gibson. Todd Bros.’ Capital Increases.—Todd Bdos.. Ltd., Wellington, which is associated with the Shell Company of New Zealand, Ltd., in the latest search for oil in the Taranaki area, has increased capital from £50,000 to £150,000 by the creation of 200,000 ordinary shares of 10s. The family business was established in 1892 as a partnership trading as Todd Bros, and Company, in Central Otago. It was later converted into Todd Bros., Ltck In the thirties, two other companies were formed. Todd Motors, Ltd., and Todd Motor Industries, Ltd., all th£ shares of which were acquired by Todd Motors Corporation, Ltd., in 1938. The preference shares in the latter company were offered to the public. McSkimming Industries.—Consolidated net profit of McSkimming Industries, Ltd., pottery, tile, and brick manufacturers, rose by £12,307 to £21,235 in the year ended January 31. Profit was strv - after allowing £25.966 for depreciation 1 ’7,426 last year) and providing £22,143 ’ taxation (£9850). With £1124 over-pru rion for taxation and £B4OO brought forward, the sum of £30,759 is available. The 5 per cent, preference dividend requires £3OOO and the steady 5 per cent, ordinary takes £7OOO. Preliminary expenses of £1254 have been written off, and carryforward is £19,505.