DIVIDEND UNCHANGED

Dominion, Volume 34, Issue 267, 7 August 1941, Page 3

DIVIDEND UNCHANGED

Commercial Bank Of Australia

The Commercial Bank of Australia, Limited, earned a net profit of £258.110 for the year ended June 30, compared with £264,157 in 1940. As already announced, the year’s dividends are unchanged at 4 per cent, per annum on preference shares (final 2 per cent.), and 7 1-12 per cent, on ordinary shares, (final 3J per cent.). A sum of £35,000 is written off bank premises, the total appropriations reducing the floating balance to £115,455. Results for three years are ;—

The total of assets is £2,075.988 higher at £46,244,836. Both deposits and advances have again risen to record levels.

Commercial Bank Of Sydney . The Commercial Banking Company of Sydney, Limited, reported a net profit of £384,589 for the year ended June 30, compared with £3,89,492 in the previous year, and £377,454 in 1938-39. A fiual dividend of 3| per cent.. (making 71 per cent, per annum unchanged)., is recommended for payment on August 12. This absorbs £350,426. A sum of £35,000 is written off premises, £122.429 being carried forward, against £128,265 brought in. Deposits totalled £56,530,020, against £55,457,470, and advances £40,080,147, against £40,488,340. Total assets are £67,913,973, compared with £66,292,946 a year ago. Kirkcaldie & Stains, Ltd. Kirkcaldie and Stains, Limited, drapers and importers. Wellington, earned a net profit of £14,301 in the year ended February 25, against £13,140 in-1939-40. No dividends were paid, “in view of the disturbed trading conditions created by the war, and the heavy demands on the company’s funds for taxation.” Wellington Alluvials The New South Wales Railways Departmeut had exercised its option of purchase of the transmission line from Orange to Apsley. originally built, at the company’s expense, said Mr. H. G. Darling, chairman of Wellington Aiiuvials, Limited, at the annual meeting recently. The purchase yielded £30.772. Al I hough this did not represent a profit, it substantially improved the liquid position. The dredge had returned to its original course, and had entered the company’s freehold area, estimated to contain about 6,000,000 cubic yards. Although lower than average, boring results indicated an average yield of about 1.65 grains a yard. If this grade were consistently realized, reasonable profit was expected. Woolworths (W.A.), Ltd. Woolworths (W.A.), Limited, has declared an interim dividend for the halfyear of 7i per cent., unchanged, payable on September 15. Donaghy’s Share Issue Donaghy’s Rope and Twine Company. Ltd., has advised the Stock Exchange Association that shareholders registered yesterday are being offered 39,000 unissued shares at a premium of ten shillings a share, in the preportion of nine to twenty. Dow Jones Averages

(By Telegraph—Press Assn.—Copyright.) NEW YORK, August 5. Dow Jones averages (1926 equals 100) and turnover on the New York Stock Exchange compare as follows; —

1939. 1940. 1941. £ £ ■£ Brt. forward 109,361 115,910 11S,7OG Net profit . 262.910 264,157 258,110 372,271 380,067 376,816 Premises .. 30,000 35,000 35,000 Divds., p.c.— pref., 4 . 84,694 84,694 84,694 Ord., 7 1-12 141,667 141,667 141,667 Car. fwrd. 115,910 118,706 115,455 The chief movements in the balancesheet are:— LIABILITIES. Capital .... 4,117,350 Same Reserves ... .... 2,250,000 Same Notes in circulation 6.184 Same . Bills payable .. 1,606,203 •143,149 Deposits ... ... 35.719.726 *2.160.572 Due to other banks' 24,605 *7 222 ASSETS. Cash items . ... 3,915,973 •367.512 Treasury bills ... 1,845,000 •475,000 Stocks and debs. 6,845,772 180,068 Bills ree.. London 1.832,100 •241,940 Advances ... 27,141,333 *S67,310 Premises ... 1,307,781 *27,528 ♦Increase. fDecreasc.

20 Railroads. 30 ii (lustrials. Shares 'sold. May 3 - .. 30.66 147.76 650.000 June 24 . .. 25.71 123.76 470,000 July 31 . .. 26.92 126.14 560.060 Sept. 3 • .. 28.00 129.74 54o;ooo Nov. a . .. 29.22 134.85 .. 470,000 Jan. 6 . .. 2S.40 132.83 720.000 Feb. 4 . ... 28.09 122.63 350,000 Mar. 3 • 27.32 120.8S 330,000 Apr. 2 . ” 28.97 123.47 450,000 May o .. 28.51 115.72 400,000 June •) .. 27.56 116.18 260,000 July 2 ’ .. 28.45 123.58 390,000 Aug. 1 . .. 30.88 128.22 680,000 Aug. ♦> .. 30.76 128.21 ‘ 360,000 Aug. 4 ’ .. 30.60 128.17 630,000 Aug. 5 • • . 30.42 128.14 640,000