FLUENZOL PROPRIETARY

Dominion, Volume 31, Issue 69, 15 December 1937, Page 14

FLUENZOL PROPRIETARY

Dividend Of 8 Per Cent. The Fluenzol Proprietary, Ltd., Wellington, for the year ended September; 30, 1937, reported a gross trading profit of £9186, but owing to rising costs and other charges the net profit was but £954. From the balance in appropriation . accounts amounting to £loa7 tne directors recommend payment of a dividend of 8 per cent, on both ordinary and preference shares and the balance to be carried forward. ... The directors report “with pleasure the satisfactory state of the year’s trading. Development in the company’s manufacturing activities and the policy of expansion pursued by the directors had rein a substantial increase m turnover. Handling costs of labour and materials had had to be faced,’ but the policy of handling .(whenever possible) goods made in New Zealand had been adhered The works were now equipped with a highly-efficient and modern chemical manufacturing plant, and the staff was capable of turning out goods of the highest class. In order to maintain the highest possible standards the services of a high-ly-qualified and experienced manufacturing chemist had been obtained to act as chief chemist, and to further extend the scope of the company’s work, and the sales organisation had also been strengthened nnd extended. Need for extra accommodation had been met by erecting an additional floor and extending the existing buildings so as to cover the whole section at Thorndon Quay, making the floor space in use double that of the original building completed 3J years ago. The retiring directors, Messrs J. It. Kirk (chairman) and Will Appleton, offer themselves for re-election. LONDON STOCK EXCHANGE Quietness In -Markets By Telegraph.—Press Assn.—Copyright. London. December 13. The Christmas account of the London Stock Exchange opened quietly, but with little business transacted. Industrial shares were dull. Oil shares and gold shares were weaker. Rubber shares were unchanged. The markets overcame the morning sluggishness and are now developing along active lines. Oil and gold shares have more than recovered their early losses. Rails and industrials, however, are irregular. On the Stock Exchange to-day mining share quotations included : Clutlia River Company, buyers 1/9, sellers 2/-; Molyneux River Companv. havers 1/1 5, sellers 1/4 J. Sales of mining shares include: New Guinea, 1/15; Mount Lyell, 24/45. Rubber Mills Profits A net profit of £4136 is shown by Reid New Zealand Rubber Mills Ltd.. Auckland, in the fourth annual accounts for the year ended September 30. This compares with £2225 in the previous year, when £926 was written off preliminary expenses before the profit was struck. A dividend of 8 per cent, on all issued share* in the company is proposed. absorbing £2320, and compares with 6 per cent, on issued capital. A balance of £2699 >s carried forward, against £lll3 brought into the account. The report states that the range of the company’s manufactures has been widened considerably. Owing to the abnormal demands to which overseas machinery manufacturers have been subjected, great delay took place in the delivery of plant required. It is proposed to increase the capital of the company io £60,000 by creation of a further 30,000 shares of £1 each. Of these shares 15,000 will be offered to members for immediate subscription on the basis of one share for each two held.