MOUNT LYELL PROFITS.

Evening Post, Volume CVIII, Issue 130, 28 November 1929, Page 12

MOUNT LYELL PROFITS.

The statement of accounts of the Mount Lyell Mining and Railway Company show a net profit of £324,128, after allowing £46,047 for prospecting and development, £65,576 for depreciation, and £34,120 for taxation. The net profit for the preceding year was £200,050. A dividend of Is 3d and bonus of Is 6d per share has been declared, making, with the interim dividend of Is 3d paid on 24th June, a toal distribution of 4s for the year. The company's liquid assets at, 30th September, 1929, apart from shares in other companies, show a surplus of £420,608 over liabilities. The.large decliue in the surplus of liquid assets is due mainly to the fact that sundry debtors and stocks on hand formerly pertaining to the chemical works department are now represented by shares in Commonwealth Fertilisers and Chemicals, Ltd. : The company's holdings of shares in other companies now stand in the books at a valuation of £1,382,907. The following is a complete list of these (shares of £1 fully paid up):—Commonwealth Fertilisers and Chemicals, Ltd.; 283,931 7 per cent, cumulative preference shares, 596,255 ordinary shares—Bßo,lß6Cuming, Smith, and Monnt Lyell Farmers' Fertilisers, Ltd., 400,000- Australian Per tilisers Pty v Ltd., 93,750; "Wallaroo-Mount Lyell Fertilisers, Ltd., 27,150; Metal Manufacturers Fty v Ltd., 196,817; Zinc Producers' Association Pty., Ltd:, 250.