WELLINGTON GAS CO.

Dominion, Volume 28, Issue 95, 16 January 1935, Page 12

WELLINGTON GAS CO.

Dividend, 8 Per Cent. The sixty-fifth annual report of the Wellington Gas Company, Ltd.,! states that after payment of the interim dividend of 4 per cent, on the ordinary shares, the year's dividend on the preference shares, and providing for depreciation of plant,' buildings, and machiuery. also debenture redemption fund and insurance fund, the balance to the credit of profit and loss appropriation account amounts to £25,921/12/11. It is recommended that this sum should be appropriated ns fallows: —-To payment of a further dividend of 4 per cent., making 8 per cent, for the year, £11,152/8/-, and curry forward the balance of £14,769/4/11. The duties and responsibilities of the directors having been considerably increased, the following proposal will he submitted to the shareholders at the meeting to be held on February 5: —“That as from January 1, 1934. and until otherwise determined in general meeting, the directors ii'iall be paid out of the funds of the company for their attendance at board meetings, the sum of £llOO per annum. All such remuneration shall be divided among the said directors as they mav determine.” The profit, and loss account for 1934 shows a net profit of £20.894/13/7 compared with £25.559/15/4 for 1933. Liabilities include paid-up capital £363.370. as for the previous year; also £200.000 in debenture stock as before. Reserves £84,300 and debenture redemption reserve £llO,OOO. Amounts owing by the company arc: £17.865, against £27,505 for 1933. Assets include, at. Bank of New Zealand, £0375 15/-; deposits, £234/18/9; New Zealand Government stock, £97.996 (at par) (£85,065, for 1933); land (at valuation) and buildings aud services at cost, less depreciation. £622.824; stocks, £35.273. For 1933 these items were: Land and buildings and services, £624,667; and stocks, £34,596. INTERIM DIVIDEND New Zealand Insurance Co. By Telegraph—Press Association. Auckland, January 15. The directors of the New Zealand Insurance Co., Ltd., have declared an interim dividend of 1/- a share, an unchanged rate, for the half-year ended November 30, 1934.