Company News NET PROFIT OF EQUITABLE

Press, Volume XCVIII, Issue 28929, 24 June 1959, Page 19

Company News NET PROFIT OF EQUITABLE

£548 Decrease On Last Year

(New Zealand Press Association) WELLINGTON, June 23.

Consolidated net profit of the Equitable Building and Investment Company, Ltd., Wellington, for the year to March 31, 1959, was £5460, against £6OOB the previous year. Profit is reached after provision of £4914 (£5520) for taxation.

Income was £33,146 (£30,802) and expenses amounted to £22,772 (£19,274), including depreciation £1046 (£626). Unchanged distribution of 12 per cent., including -bonus of 2 per cent., takes £2729.

Transfers are: dividend equalisation, £lOOO (pil); additional depreciation provision, £2OO (£300). Carry forward is £7531 (£5682).

Paid up capital is £36,381. Shareholders’ funds amount to £133,913. Current liabilities are £26.727.

Other liabilities are £157,346, including deposits £152,618 (£162,588). Current assets are £22,775, investments £291,027, including loans on mortgage £277,614 (£250,353), fixed assets £4184. N.Z. Insurance Final Divided Unchanged (New Zealand Press Association) AUCKLAND, June 23. The directors of the New Zealand Insurance Company, Ltd, have recommended the payment of an unchanged final dividend of Is 6d a £1 stock unit for the year ended March 31. Including the 5 per cent, centenary bonus, total payment for the year will be 17J per cent. Iri the preceding three years the company paid a steady 12J per cent. The latest dividend will be payable after the annual general meeting on August 18.

MAURI BROTHERS AND THOMSON MOVE

Link With Crosse And Blackwell

I N.Z Press Association-Copyright. SYDNEY, June 23.

Mauri Brothers and Thomson, Ltd., has joined in the formation of a jointly owned £lm (£BOO,OOO sterling) company with Crosse and Blackwell (Holdings), Ltd., London, it was announced today. Mr Donald Junor, chairman and managing director of the Mauri Brothers group, making the announcement, said the new joint company would make and distribute in Australia the range ot Crosse and Blackwell foods. It also would export these products and seek other markets as opportunity offered. Another wholly-owned subsidiary of the new company would be Raleigh Preserving Company, Ltd., recently acquired by Mauri Brothers.

DISCUSSIONS ON STEEL MILLS

Fletchers 9 Chief Going

To U.K.

(New Zeatana Press Association) AUCKLAND, June 23.

Dr. J. S. Watt, managing director of Fletcher Industries, Ltdwill go to the United Kingdom early next month to assist in drawing up final details of the capacity and scope of the merchant bar steel rolling mill to be established in Auckland, a spokesman for Fletcher Holdings, Ltdsaid today. These details, which would be submitted to the Government, would be decided in Britain “very shortly.”

Until these details were completed, it would be premature to indicate a time when the mill would be in operation. But providing there were no untoward difficulties with plant deliveries the mill should be in operation in 1961. the spokesman said. Included among the New Zealand interests at the joint talks were Mr J. C. Fletcher, managing director of Fletcher Holdings, Ltd., and Mr R. C. McDonald, of Industrial Metals, Ltd.

British Cellophane, Limited

(N.Z. Press Association—Copyright) SYDNEY. June 20.

British Cellophane. Ltd., England, may take cellophane in Australia through its local sales subsidiary, Australian. Cellophane (Pty.) Ltd., Melbourne. Australian Cellophane is owned 75 per cent, by British Cellophane and 25 per cent, by Courtaulds (Aust.) Ltd.

Courtaulds Ltd- England, has a 75 per cent, holding in British Cellophane. Technical and cost basis of the project is at present being examined in Australia by the development engineer of British Cellophane, Mr J. Napthine. The company at present supplies the major proportion ol cellulose film used in Australia. It also owns a large shareholding in Wrightcel Pty. Ltd- cellophane printer and maker of cellophane bags and tape.

Taupo Totara.—The final dividend of the Taupo Totara Timber Company, Ltd., is 10 per cent- plus a bonus of 21 per cent- making 22J per cent, for the year. This compares with 20 per cent, last year. It is payable on July 31; ex div. July 25.—(P.A.)

Whiplash neck injuries resulting from- rear-end car collisions are becoming more common. Soreness of the neck can develop from rear-end collisions at speeds as low as seven miles an hour. A 25-mile-an-hour impact can produce a slipped disc or even fractured vertebrae.

Some species of the popular house plant philodendron have been found to cause a skin eruption similar to that produced by poison oak. Red blotches and streaks of tiny blisters usually occur on the hands and forearms of those afflicted.