WARRANTY ON HOLDENS

Press, Volume C, Issue 29635, 4 October 1961, Page 19

WARRANTY ON HOLDENS

Extension In Australia' (N.Z. Press Assn.—Copyright) MELBOURNE. October 3. General Motors-Holden's Pty. Ltd., today extended the warranty period on all its vehicles to 12.000 miles or 12 months, whichever occurs first. A. G.M.H. official said the new warranty would apply immediately and would also cover G.M.H. vehicles already sold which had not reached 12.000 miles, or were hot 12 months old. The spokesman said the move had been under consideration for some time. The old G-M.H. warranty was for 90 days or 400 miles. A similar warranty extension on all Ford vehicles was announced last night. Holeproof Sales Reduced (N.Z. Press Assn.—Copyright) MELBOURNE, October 3. Holeproof Industries, Ltd., today reported that turnover for the first three months. January to March, was in line with that of 1960. However, sales Were lower in the second quarter due to the reduced purchasing power of the community and to the import of competitive items of manufacture.

A 7 per cent, dividend on preference shares for the six months to June 30 is payable on October 27.

Nathan Dividend. L. D. Nathan and Company, LtdAuckland merchant, has restored the dividend to 7J per cent., the rate which applied before the company floated last year. Last year, 6 per cent, was paid. Final dividend of 4'4 per cent, is payable on November 17. Shares fall in dividend on November 3.

Farrier - Waimak. Recommended annual dividend is 7 per cent., unchanged, payable on October 25. ex. October 10 -(P.A.)

Schweppes Div.—Schweppes (Aust.). Ltd., cordials maker, will pay a dividend of 7 per cent, for the year ended June 30 as indicated when a placement of shares with the public was made last December to gain Stock Exchange listing. Final dividend is 3J per cent.

B. L. Hart Results.— B. L. Hart and Company, Ltd., advise that trading results for the halfyear ended August 31 were in line with those for the corresponding period of the preceding year. Under current economic conditions in the furnishing trade in New Zealand, trading prospects are less buoyant than in the first half-year.—(P.A.)

Gerrard Profit Down.—Consolidated net profit of Gerrard Company of Australasia, Ltdmanufacturers and distributors of machinery and wire, declined by 34 per cent, from £210,901 to £137.824 in the year to June 30. Ordinary dividend has been held steady at 12 per cent, with the payment of a final ordinary dividend of T per cent, on October 20. Earning rate on higher ordinary capital came back from 26.2 per cent, to 13.1 per cent.

R.M.C. “Reconstruction.”—Reconstruction of the company’s capital structure would be considered by Ready Mixed Concrete Ltd., Sydney, when revaluation is completed fly the end of the year, the chairman (Mr S. E. A. Stirling) told the annual meeting. "This move must logically follow when the existing reserves total is also taken into account and compared with the actual paid-up capital.” he said. Shareholders' funds had increased by £ 14.7 m to £2oBm for the year ended June 30 This was accounted for chiefly by issued capital £sm and share premium reserve £9m.

F.CA. Profit Down.—Net profit of the Farmers’ Co-operative Auctioneering Company, Ltd., declined from £75,561 to £54.499 in the year ended July 31. accompanied by a fall in turnover to £7.113,521. The directors state that tile results for the year were materially affected by the greatly reduced price of stock tn the Waikato during the second half of the year. Entertairiments (NJ!.)—Enterments (N.Z.). Ltd., owner of the Peter Pan Cabaret and Sorrento Restaurant in Auckland, increased consolidated net profit by 40 per cent, to £4983 in the year to March 31. The company will again pay a dividend of 20 per cent, and will make a three-for-one'bonus issue, taking capital to £4O 000 Dividend requires £1698 —(P.A ) South British DividendDirectors of the South British Insurance Company, Ltd- will recommend a final dividend of 9d a share, making an unchanged total of Is 6d. equivalent to 15 per cent- for the year ended August 3J P.A.

Tut Brewery.— Recommended final dividend is 3 per cent.. making 6 per cent, (unchanged) for the year. With the final 3 per cent, preference dividend ‘the dividend is payable on ■October 30, ex October 23 P.A Dunedin Sheepskin Sale.— There was an offering of 6292 sheepskins at a sale held in Dunedin , yeaterdgy. Price* for three-quarter wool and full wools were at par to sUghtly easier, but quarter wools shearlings and pelts eased a pennv to threepence on last month.— (PA.) \

Mining Return—Gold Mines of New Zealand's sole remaining dredging unit on the West Coast, Kanieri, won 991 ounces during September. The recovery was from 396.000 yards in 508 hours. Kanieri’s return for August was 123toz—(P.A.) 16-Pin Bowling.— Ten-Pin Bowling. Ltd., earned net profit of £9l for the period of June ®. Result is after tax. £49. depreciation £726. and "after absorbing all overhead," directors report. The company began operating on June 2. in Adelaide. The daily average per lane increased from 57J to 67.9 in August, exceeding expectations. directors say. This centre showed a profit for July and August of £*3o3. After providing £l4OO depreciation Two other centre* opened thin month.