WAIHI GOLD MINE

Dominion, Volume 31, Issue 178, 26 April 1938, Page 14

WAIHI GOLD MINE

Martha Company’s Profits

A net profit of £100,427 is .shown in the accounts of the Martha Gold Mining Co. (Waihi), Ltd., for the year ended December 31. This compares with ±98,8(0 in the previous year. The decision of the directors to pay a final dividend ot 1/a share (sterling), making 2/- a share unchanged for the year, was printed in this column on April 12. Cabled advice received from London by the New Zealand attorney, Mr. J. 11. G. Banks, states that the gross profit for the ■year was £lBl,lBl. The amount brought forward was £9293. Income tax in London and New Zealand required'£lo,939, and depreciation written off was £4Blo. After payment of the interim dividend, requiring £49,590, there was unbalance in the revenue account of £60,130, out of which the directors recommend the final dividend of 1/- a shave (free of income tax), payable on May 6. The final dividend absorbs £49,591, leaving £10,539 to be carried forward.' The annual meeting will be held in London- on May 5■Details of the company’s results since it took over the plant and property of the Waihi Gold Mining Company are :— .

•The figures for 1935 are for the period from March’ 15, the date of incorporation of the company, to December 31.

1935* 1936. 1937. £ ' ' A", £ Gross profit 141,573 173,193 181,181 Taxation 69,115 75,939 Depreciation 5,628 5,208 4,815 Balance 83,990 98,870 . 100,427 Brought fwd. ..... —— 9,CM 9,293 Dividend, p.c. ... 30 40 40 Amount 74,386 99,181 99,181 Carried forward' . £9,604 £9,203 £10,539