TAUPIRI COAL MINES, LTD.

Evening Post, Volume CIX, Issue 115, 17 May 1930, Page 12

TAUPIRI COAL MINES, LTD.

The Hon. E. W. Alison, chairman of directors, presiding at the 31st annual meeting of Taupiri Coal Mines,- Ltd., said the report showed a satisfactory state of affairs,: both in the conduct of the business and in :the relations between the company, and its workers. Although the company's mines had^not been worked full time,; the output for the year was in excess of that for the previous year. In moving the adoption of the report and balance-sheet, he said it was true that the actual profit resulting from operations in the past yeai- had slightly decreased, but he. considered he was justified in saying that the report<and balauceshecfc would; again provide pleasant j-ead-ing for shareholders. During the year unallotted shares of the company, numbering 8000, were issued, and allotted to shareholders at par, so that the whole of the' shares of the company, 150,000, had been issued and were fully paid up. The preference shares numbered 20,000. The net profit for the year's working, after allowing for depreciation, was £15,819 15s Id, to which had to be added the sum of £10,701 12s 3d brought forward from last year, making a total of £26,521 7s 4d. The .preference share dividend had been paid as usual, amounting to £1600, and an interim dividend of Is per share on the ordinary shares had also been paid, absorbing £6125 4s Id, leaving a balance ot £18,796 3s 3d. The directors recommended that this sum be appropriated by payment of a further dividend of Is per share, amounting to £6500; by the transfer of £1000 to dividend equalisation account, and by. the carrying forward of £11,296 3s'3d. ' , r at The directors of the company, Mr. Aii.son stated,,.liad,taken up 25,000 shares in■ Waikato Carbonisation, Ltd., and £20,000 had already .been paid up. This was mainly met by the issue of unallotted shares and from the proceeds of the sale of land'at Hu'ntly and plant no longer required. .. > . ,■ CHICAGO FORWARD WHEAT. (Received 17th May, 12.10* p.m.) .- CHICAGO, 16th. May. Forward quotations to-day were:—May, 1 dollar 5 5-8 cents; July, 1 dollar 5 cents; September, 1 dollar 6 cents; December, 1 dollar 12% cents. -