INCREASED DIVIDENDS

Dominion, Volume 29, Issue 100, 22 January 1936, Page 18

INCREASED DIVIDENDS

Australian Gold-mining Companies Australian gold-mining companies paid dividends in 1935 amounting to £2,700,000, or 50 per cent, more than in 1934. In the five years 1931-35, inclusive, Australian gold mines, and others in which Australian capital is invested, have paid shareholders a total of £5,750,000. The growth of the distributions is illustrated’ in the following table, showing the number of companies paying dividends and the approximate aggregate payments to shareholders;

The expansion of the huge Bulolo undertaking, which paid £818,125, compared with £114,750 in 1934, was mainly responsible for giving New Guinea pride of place as a dividend-earning field.—. Three companies contributed to the total of £1,047,538. Gold Mining Returns Gillespie's Beach Gold-dredging Co. report that there was no wash-up last week due to a water shortage owing to protracted dry weather. Dredging was resumed on Friday. The following is the Argo Gold-dredg-ing Co.’s ofli«ial return for the week ending January 18, 1936: Yield 460 z., hours dredged 120, yards treated 9000. Thos. Cook & Son (Bankers) Ltd. The balance-sheet, of Thos. Cook and Son. (Bankers), Limited, made up to October 31, 1935, shows as usual an exceptionally strong liquid position, states the London “Times.” The various cash items amount to £2,587,650, and are equal to 79.8 per cent, of (he deposits, which amount to £3,2-11.664. compared with £3,182,992 in 1934. If to the cash he added £95,000 of money employed at call and short notice, and £102,696 of bills, deposits are covered by liquid assets to the extent of S 3 per cent. This high liquidity has been a consistent and outstanding feature of the bank’s balancesheets since its inception. The published reserve fund is £125,000, and is equal to tlie issued capital; substantial internal reserves are also held. Of the investments which stand in the balance-sheet at £486,530, £408,982 is represented by British Government securities, and £50,057 by India Government securities.

Britain’s Trade Agreements

The beneficial effects of trade agreements on the industries of Great Britain were referred to by Sir John Caulcutt, the new president of the Institute of Bankers, in the course of his inaugural address in London. The influence of the policy pursued on the recent expansion in the export trade of Great Britain, he said, was shown by the fact that in the first six months of 1035 exports to the foreign countries with which agreements were then in force were greater by £7,627,000. or 17 per cent., than in the first half of 1933. when these arrangements were not in operation. On the pther hand, the increase in exports to all other foreign countries was £5,034.000, or only 9J per cent. Sir John added: “The increased confidence felt is indicated by the competition for the available exhibition space in the British Industries Fair, the whole area being over applied for at tiic beginning of September.’’

• ComTotal Dividends. Year. panies. £ 1031 4 65,000 1932 ... 8 260,000 1933 . 16 875,000 1934 ..., 21 1,800,000 28 2,700,000 fl936 115.000 Total ..„ £5,815,000 i ’Already declared.