NEW SHARE ISSUE

Dominion, Volume 31, Issue 41, 12 November 1937, Page 14

NEW SHARE ISSUE

McKenzie’s Department Stores INTERIM DIVIDEND DATE •Vt an extraordinary general meeting of shareholders of McKenzies Department Stores Ltd. held at Wellington on Wednesday the following resolutions were carried - (1) That an interim dividend at I lie rate of 9 per cent, on the paid-up capital (£400;060) be paid to all shareholders on the register at November 13, this dividend to be paid on November 20. (2) That the capital of the company lie increased from £500,000 to £750.000 bj the creation of ‘_',i(i.(HH* new shares of tl each. r , |3l That the ordinary shares in t- 1 - capital of the company be offered to all those members on the register as at November 13 on the basis of one new share for every complete four shares held, at a premium of 10/- per share, the full amount of £l/10/- per share must be sent by shareholders, with their application forms, to the registered office, of the company on or before December 20. (4) That the transfer books will be closed from November 13 to 22. It was explained by the chairman, sir Charles Statham, that the date of payment of the interim dividend had been changed to November 20 and that, after consultation with the Stock Exchange A«sociation, the original date ot December 9, fixed for the closing of the share register, had been altered to November 13 co provide facilities for dealings in the rights to the new issue;. In the case ot fractions these will bo disposed of by the directors and the amounts paid to shareholders. WESTPORT COAL CO., LTD. Little Change In Net Profit Dominion. Special Service. Dunedin, November 11. After providing for bad and doubtful debts, depreciation, and all charges and making provision for £lOOO for the staff provident fund, the profit of the VS estport Coal Company, Ltd., for the year ended on September 30 amounts to £..3,011 14/9, to which must be added the .sum of £12,873/7/4 brought forward from last year, making a total of £36,680/~/1. An interiin dividend of sixpence per share was paid for the half-year ended on March 31, which accounted for £11,200. This leaves a balance of £25,485/2/1, out of which the directors propose to pay a dividend of sixpence per share for the half-year, ended on September 30, the balance of £14,185/2/1 to be carried forward to next year's account.

The dividend is at the unchanged rate of 10 per cent, per annum. Net profit for the previous year was £24,235. Last year a. further distribution of 5/- per share was made from the contingency reserve and insurance funds. P. AND 0. COMPANY Dividend On Deferred Stock By Telegraph.—Press Assn, —Copyright, London, November 10. The P. and O. Steam Navigation Company has declared a dividend of 4 per cent, on its deferred stock. The dividend is at the same rate as for the previous twelve months, that distribution being made after an absence of four years.

BRADFORD TOPS MARKET A Weaker Tendency According to a cable message received by a Wellington house, no business is passing in the Bradford tops market, which is weaker. All quotations are purely nominal, as follows: —sB's, 26d.; 56’s, 24id.; 50’s, 20^d.; 46’s, 44’s and 40’s, 18-Jd. BASE METALS MARKET Copper And Tin Barely Steady By Telegraph.—Press. Assn.—Copyright. London, .November 10. The official London (middle) quotations as reported by the Australian Mines and Metals Association, compare with those previously cabled as follows: —

Swan Brewery Dividend Swan Brewery Company, Ltd., yesterday advised the Stock Exchange Association that the usual preference dividend for the half-year ended September 30 at the- rate of 6 per cent, per annum and a dividend of sixpence per ordinary share for the same period would be paid on December 1. The company’s 25/- shares were split into five shares of 5/- each during the last term, and those on the register at May 19 were offered 340,(XX) new ordinary shares of 5/- each, in the proportion of one for five, at u premium of 2/- each. The dividend for the last half-year ended March 31 was at the rate of 25 per cent, per annum, as against 20 per cent, per annum for the previous four halfyearly periods. Gold Mining Returns (By Telegraph—Press Association.) Greynioutli, November 11. The Mossy Creek dredge return is 350 z. 6dwt. from 8171 cubic yards in 130 hours. Worksop Extended dredge return, 13oz. from 130 hours. The Argo dredge is not washing up this week on account of repairs to machinery.

Nov. 9. Per ton. Nov. 10. Per ton. Copper— £ s. d £ a. d. Standard, spot ... 39 9 41 39 3 1) Ditto, forward ... 39 Id 30J 39 9 41 Electrolytic 43 JO 0 43 10 0 to 45 10 0 45 10 0 Wire bars 45 10 0 45 10 0 Lead — Spot .16 2 6 1 < IS Forward 16 3 1J 17 1 104 Spelter— Spot 15 10 7 4 15 is y Forward ........ 15 14 4 J 16 3 1| Tin— Spot 188 15 0 192 .10 0 Forward 1ST 7 6 191 15 0 Silver — Standard, per oz. . 19 5-Sd. 19 U-16d. Fine 213-lOd. ■-•1id.