CURTAILED DIVIDENDS

Evening Post, Volume CX, Issue 37, 12 August 1930, Page 12

CURTAILED DIVIDENDS

Advices received by mail from Australia state that Morts Dock and Engineering Company, Sydney, made net profits of £794 for- the year ended 30th June, 1930, compared with £31,170 tor 1029 and £20.----407 i'or 1925. No dividend was paid; but £4222 was carried forward. Capital and debentures amount to £817,905, reserves ■£50.939. The Australia Hotel reduced its dividend from 10 per cent, to 9 per cent., net profits at 30th June were £37,065, compared with ■ £41,313 for 1929. Paid capital is £422,1(59; creditors ' £140,636. Assets included £635,000, freehold and goodwill £25,000. The hotel recently announced a reduced tariff, as from Ist August. D. and J. Fowler, warehousemen, have declared 8 per cent, dividend as against 10 per cent, last year. Marshalle, manufacturers, Melbourne, report disappointing results, apd as a result they are unable to recommend the payment of the usual half-yearly dividend on preference shares. Shoe'_ manufacturing, they state, has suffered its lull measure'in the depression through ■which Australia is passing. Accounts of Marshalls Shoe Co. Pty., Ltd., for the year show trading profits.of £15,32G, and after meeting taxes, salaries, etc., there is a loss of £12,212, compared with a profit of £1313 for the previous year. An extraordinary general meeting of Marshal Is, Ltd., will'be held on 18th August, when proposals will be submitted to shareholders that the capital of the company be reDirectors of Hotel Metropole, Sydney, as a matter of caution, reduced their final dividend. . , Messrs. Goodlet and Smith, . builders supplies and manufacturers, reduced thenfinal dividend to 3 per cent., making 8 per cent, for the year, in place of 10 per cent.