NORTH KALGURLI (1912) LTD.

Dominion, Volume 30, Issue 259, 29 July 1937, Page 14

NORTH KALGURLI (1912) LTD.

Increase in Dividend At the annual meeting of North Kalgurli (1912) Ltd., to be held tn Lon< on on July 20, the payment of a final dividend for the year ended December 31 of 9d sterling a phnre. l»w income tax at the rate of 3/- in the £l, will be recommended. The dividend is payable on Au"ust 10 to shareholders registered on Jiilv 12. The payment of this dividend wili make the distribution for the year ended December 31, 1936. 1/6 a share, or 75 per cent., a« against 1/3 a .share for the two previous years. The company already has paid a dividend of 6d. a share this year, and the opinion is widely held that ’on present indications the aggregate payment for the year will lie 2/- a share. The company is still meeting with success in the development of what is known as the “end” lode, which is really an eastwest pipe carrying good to high values. Last week the company reported that at the No. 6 level of the Kalgurli shaft a north drive put out from tlie nortli-eiist drive had averaged 20dwt. gold a ton. with no walls showing, while the last 16ft driven in the north-east drive had averaged 16dwt. It is understood that this work continues to reveal satisfactory values, widtli and length. Altogether the lode has now been opened up at tlie Nos. 15, 14, 13, 11 and 6 levels, and developments at the No. 8 level are likely in the near future. The greatest length driven so far <>n the lode is about 100 ft. at the No. 13 level. The lode appears to be similar to the one being developed in the Paringa mine, which has also been characterised by high values. North Kalgurli is still obtaining encouraging results from development work nt its Croesus mine. MEAT BOARD FINANCES Excess of Expenditure The accounts of the Meat Board for the 12 months ended June 30, 1937, show that the levy on meal exported amounted to £49.977/4/5. less cost of collect ion £499 15/6, leaving £49.477/8/11. Interest on investments amounted to £5BO/2/5. Tliere was an excess of exiiendiltire over income for the year of £8079/7/7. Expenses of management nmounted to £6375/3/8 for the head office and £5343 6/11 for the London office, a total of £11,718/10/7. Members’ honoraria totalled £2400 and travelling expenses £669 9/3 The visit to England of tlie board’s representatives cost £1316/7/9. Supervision of grading and loading and discharging of ships cost £33OS/14/0. Expenditure on advertising amounted to £26,581/17/11; research grants, £1725 9/-; grants to pig industry and prize money, £1212/11/7 and exchange on remittances, £7703/10/3. The board’s accumulated fund at June SO, 1937, amounted to £45,325.