BUSINESS ITEMS

Evening Post, Volume CXXX, Issue 113, 8 November 1940, Page 10

BUSINESS ITEMS

Victorian Automobile Chamber ofi Commerce Insurance Co., Ltd., earned net profit of £1039 for the year ended June 30, compared with £2816 last year. Latest results are considered satisfactory by directors in view of the adverse effects of both war condi- | tions and petrol rationing. Dividend at the rate of 10 per cent, per annum is unchanged. Felt and Textiles' net profit of! £159,612 for the year ended June 30 is an increase of £65,790. The directors propose that the nominal capital of the company be increased to £2,000,000 by the creation of 800,000 new shares of £' each. Consolidated j accounts show a profit of £160,153 after providing £38,798 for depreciation and £79,825 for taxation. Washington H. Soul Pattinson and Co., Ltd., shows a net profit of £69,100 for the year ended July 31. The profit' compares with a total of £70,047 for the preceding two half-years. The Australian Prices Commissioner, Professor D. B. Copland, stated that investigations into applications for. permission to increase prices had dis-; closed that some applicants, pending consideration of their requests, had charged increased prices and arranged with customers that any excess would be refunded. Unless his consent to this had been obtained it was a breach of the Prices Regulations, and punishable with heavy penalties. New River gold dredge return during the week ended November 6 was 520z of gold from 16,000 yards treated in 165 hours' dredging time. This is the final return as the dredge is now beached. Directors of Claude Neon (N.Z.), Ltd., recommend a dividend of 5 per cent, for year ended September 30.