COMPANY RESULTS

Dominion, Volume 25, Issue 168, 12 April 1932, Page 12

COMPANY RESULTS

N.Z. Investment & Mortgage Co.

DIVIDEND, 7 PER CENT.

The directors of the N.Z. Investment Mortgage and Deposit Company, Ltd., in their 26th annual report and balancesheet for the year ended March 31, 1932, state that the net profit is £3680/13/3, to which must be added the sum of £2738 9/6, brought forward from last year, making a total of £6419/2/9. An interim dividend at the rate of G per cent, per annum, amounting to £1065, was declared and paid for the half-year ended September 30, 1931, leaving £5354/2/9 to he dealt with. The directors recommended the payment of a further dividend at the rate of 4 per cent., making 7 per cent, for the year ended March 31. 1932, which will absorb £1420; that £lOOO be carried to reserve, which will then stand at £lO.OOO, and that the balance of £2934/2/9 be carried forward. Mr. John S. Swain, retiring director, offers himself for re-election, as does the auditor, Mr. O. G. Kember.

N Z. GUARANTEE CORPORATION Interim Dividend The New Zealand Guarantee Corporation, Limited, has advised the secretary of the Stock Exchange Association of N.Z., that the board of directors, at a meeting held on Friday, April 8, authorised payment of the following interim dividends: —For the half-year ended February 29, 1932: — Preference shares, at the rate of 7 per cent, per annum. Ordinary shares, 2d per share upon the shares called up and paid to 8/- each, and of 5d per share on the 4000 fullypaid shares. The share registers have been closed as from Friday for the payments of the dividends, the -aarrants for which will be distributed about the end of this week. Moturoa Oil Well The following report for the weekended April 9, has been received from New Plymouth:—Moturoa Oil Fields, Ltd., No. 2 well, produced 130 barrels of oil by self-flow. One (lay lost in cleaning out tubing. Okarito Gold Return By Telegraph.—Press Association. Dunedin, April 11. The Okarito Five Mile Beach Gold Dredging Co., reports a wash-up for the week-ended April 9 of 490 z 15dwt. Blackwater Mines The secretaries of the Blackwater Mines, Ltd., have forwarded to the Wellington Stock Exchange a summary of the returns for the seven months ended March, showing that from 24,606 tons treated the value of gold was £52,337 (standard value), and the profit was £9169, but as the premium on sale and exchange was some 50 per cent., there was an additional profit from this of some £26.000. TALLOW AND HEMP London Markets Quiet The Department of Agriculture has received the following cablegram, dated April 9, from the High Commissioner for New Zealand, London :— Tallow: Market very quiet and spot quotations nominally unchanged. Hemp: Manila.—market quiet, hut steady, with trade demand poor. Value of “K” grade for April/June shipment, £l7/10/-. Sisal: Market ouiet. with values nominally unchanged. April/June shipment No. 1, fair average quality, quoted at £l4/10/-, with .buyers at £l4 5/-. New Zealand—Market quiet, with values nominally unchanged. No firsthand sales reported. Peas: Maples—market is inactive. Ex store quoted New Zealand 65/-. and Tasmanian G7/G; sellers afloat, New Zealand GO/-; Tasmanian 70/-, with buyers' ideas 58/- and 65/- respectively. Blues: Tendency weaker, and April shipment New Zealand offered at £l5. Dairy Produce Markets Joseph Nathan and Co., Ltd., have received the following report, dated April 9, from Trengrove and Nathan. Ltd.. London: —New Zealand butter, 109/- per cwt.; cheese, white 62/6 per cwt., coloured 63/6 per cwt. Both quieter. The Bank of New South Wales has received the following cable message from its London office, dated April 8: —Mutton: Wethers, 3 l-Sd, 4 7-8(1; little more demand. Ewes, 23d to 3 7-8(1; steady. Lamb, 61d to 7 3-8(1; good demand; prices firm. Beef, 24(1 to 4d; nominal. Pork, 41d to 5Jd; little better demand. Butter, "109/-. Cheese, white 63/-, coloured 64/-. SYDNEY WOOL SALES Better Demand for Fine Sorts • (Rec. April 11, 9.15 p.m.) Sydney. April 11. At the wool sales to-day 10,596 bales were offered, of which 9065 were sold at auction, also 1492 privately. Competition was fairly general, and the demand for fine wools improved. Greasy Merino made up to 24}d.