COMPANY NEWS

Press, Volume XCII, Issue 27739, 17 August 1955, Page 15

COMPANY NEWS

CABLE AND WIRELESS PROFIT

Cable and Wireless, Ltd., the world-wide British communications organisation, has announced that it made a profit of £1,828,220 sterling in the year ended March 31. This was a drop of £286,218 sterling on the previous year. The organisation, which is now nationalised, hinted in its annual report that higher charges were in prospect. Winchcombe, Carson Ltd. (Sydney).— The ’company is recommending a final dividend of 5 per cent, plus a bonus of 24 per cent., making 12J per cent, (unchanged) for the year ended June 30. The dividend and bonus are payable on October 6, ex September 22. Ausdis Holdings, Ltd.—The organisa-tion—motor-car distributors of Melbourne —reports a consolidated turnover of about £8,000,000 for the year ended June 30 compared with £5,000,000 in the previous year. A final dividend of 15 per cent, is recommended, making 25 per cent, for the year, against 30 per cent, paid in 1953-54. The dividend is payable on September 22, ex September 15. Taubmans Industries Ltd. (Sydney).—The company is making a new issue of 4,088,572 5s shares at a premium of Is a share. They will be offered on a four-for-five basis to shareholders registered on August 29. The issue will raise paid capital to approximately £2,400,000. The new shares are payable 3s (including the premium) on November 1, and 3s on April 1. They will not participate in any final dividend for the year ending September 30. Extra funds are required for expansion and working capital, the directors state.

N.Z. Insurance Company, Ltd.—Mr R. D. Horton was appointed chairman yesterday. He succeeds Mr A. W. Wells, who has been appointed deputy-chairman—(P.A.) Cory-Wright and Salmon.—Annual dividend on preference shares is 5 per cent., free of tax, payable on August 31. exdividend date, August 24. Quill Morris (1936), Ltd.—An interim dividend of 6d per 10s share, free of Social Security tax, payable on August 31, 1955, is announced. The books will not be closing. Shares will be ex dividend on August 31, 1955. . Mason Brothers.—The company advises that ordinary and preference books will be closed all day on August 31 to determine entitlement to participate in the new issue of ordinary shares. The company has permission from the Capital Issues Committee to issue 75,000 £1 ordinary at a premium, 7s 6d a share. STOCK SALES TEMUKA “The Press” Special Service TIMARU, August 16. Taken over-all, values showed a slight decline on those of the St. Andrew’s sale a week ago for the penning of fat cattle at the Temuka stock sale today. The large offering of dairy cows and store cattle were at times very difficult to dispose of. Barely two races of fat sheep, made up for the most part of fat wethers, met a solid inquiry from butchers with values showing little change. The same could be said for quality pens in the offering of store sheep which were mostly tailend lots. Values were:— , Fat Cattle.—Fat steers: good, £42 2s 6d to £44 12s 6d; light to medium, £27 2s 6d to £37 2s 6d. Fat heifers: good, £3O to £36 12s 6d; light to medium, £24 2s 6d to £2B 9s 6d. Fat cows: good, £2B 2s 6d to £32 2s 6d; light to medium, £l2 2s 6d to £24 2s 6dStore Cattle.—Bulls to £27. Fat Sheep.—Fat wethers: good, 96s lOd to £5 0s Id; medium, 84s Id to 91s 10a; light, 77s Id to 80s Id. Fat ewes: good, 52s Id to 57s Id; medium, 46s lOd to 51s Id; light, 34s Id to 40s Id. Store Sheep.—Full mouth ewes: 745. Wether hoggets to 525. ASHBURTON There was a small yarding of fat sheep at the Ashburton stock sale yesterday. Prices were up about 3s to 4s on last week’s rates. In the store sheep section there was a medium entry. Fat wethers sold up to 76s for medium grade, to 85s for prime quality, and up to 94s Id for prime heavy wethers. Fat ewes realised up to 40s for medium sorts, to 48s for prime and up to 57s Id for prime heavy ewes. Fat hoggets in the wool sold from 77s Id to 80s Id and 33 shorn hoggets sold at 48s Id to 50s Id. In the store sheep section, two-tooth ewes made 70s and 795, mixed age ewes 60s, four-year ewes 70s and full-mouth ewes 575. MINING Clutha River.—The Clutha River dredge, operating at Alexandra, for the week ended August 12, worked 132 hours and recovered 116 ounces of gold.—(P.A.)