COMPANIES' INTERESTS

Evening Post, Volume CXXXIV, Issue 76, 26 September 1942, Page 8

COMPANIES' INTERESTS

Shareholders' capital invested in tile five principal coal mining companies in the Waikato totals £515,432, and the aggregate of their assets is valued conservatively at over £750,000. Particulars of the various companies are given by the "New Zealand Herald," as follows:— ..■•■■

Glen Afton Collieries is owned, by the New Zealand Co-operative Dairy Company, a and the Mac Donald mine, which it works, is leased from the Crown. Paid capital is £100,000 and total assets are estimated at well over double that figure. Last year's output was 226,315 tons. No dividends are paid and any profits revert to shareholders in the form of rebates.

Taupiri.—Capital, £150,000; total assets, £ 186,886. Last year's net profit, £9532; taxes, £12,800; dividends, £9405.

Renown.—Capital, £102,000; assets, £131,060. Profit last year, £5600; taxes, £1712; dividends, £5600.

Pukemiro.—Captal, £100,000; assets, ,£150,968. Profit last year, £2101; taxes, £4779; dividends, £3750. Wilton.—Capital, £61,432; assets, £85,294. Profit last year, £3730; taxes, £5800; dividends, £3686. Included in the assets of the Pukemiro, Renown, Taupiri, and Wilton companies are shares and debentures of the Waikato Carbonisation Company, which was formed to dispose of the slack from the mines.

In recent years profits and dividends have declined as a result of rising costs, including taxatiohf -" but ' generally speaking, the finances qf the companies are looked upon as thoroughly healthy and their shares have a regular demand on the Stock Exchange.