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Evening Post, Volume CXXXIV, Issue 41, 17 August 1942, Page 3

MINE AND DREDGE REPORTS. (P.A.) V GREYMOUIH, August 15. Maori Isold 'dredge return: 290z. 44 hours; Golden Sands, 40oz, 44 shifts; Snowy P.iver, 140oz.; 128 hours, 30,900yd5. . > : ; COMMERCIAL, BANK YEAR. The; seventy-sixth report , and balance-sheet of tiie Commercial Bank of Australia;'for year eridea June 30, 1942; shows -net profit £241,812, | a decrease of £16,298, compared with last, year. The bank has made an appropriation of £25,001) in reduction 'of bank premises. Interim dividends were' paid-in February,. 1941, at the rate; of 4 pcr1 cetit. on preference shares and 6 2-3 per cent, .on ordinary. shares; and it is proposed to distribute: half-yearly dividends this' month at the same" rates, as last year. The balance to -be carried forward this year is £114,241 3s 4d, as against ,£115,455 10s, 8d on last balance date. During1 the year 23 branches and 61 receiving .offices .have been closed, and. some, branches converted into receiving offices. Retiring directors are Messrs. John L; Webb and A., S. ;Baillieu, who offer themselves' for're-election/ • ■ THE COFFEE POSITION. , Australia wili "maintain average '. imports of coffee, stated- this, Minister Vof ; : Supply , (Mr. Beasley). Orders had been placet?, to. ■ provide tor a quantity;'greater than for 1941. Stocks were hqldihg. The-.United States .was shipping coffee for'its troops, said Mr.. Beasley. New • Zealand co'ffeo imports (including chicory), given in value only for 1941; amounted to £24,6 H r' and frfr 1940 to £23,368. For- the Orst^flve-months of 1942;the-value was £-19,371, compared «vitb £7723 Tor the" first rive months 0fU941. ■;.;• .- ; ; '■' -/,, ,• . ' BUSINESS IN BRIEF. :'Radio (1936) Ltd., Auckland,-reports a-net profit of £3021 Tor '■> the year ended June' 30, compared -with £6718 jn the' previous year,: and £6989 in. 1940;- The directors- propose, the" payment'of a dividend of. 9d a share, compared with Is in each of ' ( tbe three -preced-' ing year's.. .'.'.', ; > ■ ■' , . - - Wellington, office of Huddart, Parker, Ltd.^ lias received' advice' from head office that interim dividends-of 3 .-per cent, on preference sliares • and 5 per cent, on ordinary shares would be payable on September 17.