JOSEPH NATHAN AND CO.

Evening Post, Volume CXI, Issue 83, 9 April 1931, Page 14

JOSEPH NATHAN AND CO.

In the year to 30th. September last Messrs. Joseph Nathan and Co., London and Wellington, secured a profit of £G8,066, in comparison with £65,377 previously, and this enables the board to distribute a dividend of 10 per cent, on ordinary shares^-the first since 8 per cent, was declared for 1921-22. Considering the extent of the trade depression throughout the world, the company did well in maintaining its position, and a satisfactory feature is that the previous allocation of £5000 to the reserve this time is £9440, or nearly double the reserve fund standing at £43,994. The usual dividends of 7 per cent, on A preference shares and 8 per cent, on preferred ordinary shares, absorbing £500,000 and £200,000 respectively, were also paid. Provision of £4000 was made for balance of income tax. Capital of the company is £1,500,000. The earthquake in New Zealand will have the effect of retarding the return to prosperity in the Dominion, but the company's losses, through the destruction of their offices at Hastings, and the devastation in the Hawkes Bay district, it is estimated, should not exceed £5000. Messrs. A. Sandercoek and H. K. Pacey were re-elected, directors. "Conservatism in finance," says "The Financial' Times," commenting or Messrs. Nathan's report, "has been so outstanding a feature of the board's policy that shareholders can rest assured that the return of the ordinary shares to the dividend list with a distribution of 10 per cent., or 2 per cent, more than the last payment in 1922, • involved no strain upon the company's cash resources. They will, none the less, be gratified to find from the accounts that the financial position is even more satisfactory than earlier appeared probable.. Profits of subsidiary undertakings have been included, as usual, to the extent only of dividends declared, and there have been no losses."