COMPANY NEWS

Evening Star, Issue 22891, 24 February 1938, Page 10

COMPANY NEWS

WGOLWORTHS PROFITS DIVIDEND AND BONUS [Per United Press Association.] WELLINGTON, February 24. Woolworths Ltd. profit after taxation provision (subject to audit) was £217,717. A final dividend of 9 per cent, and a bonus of one for five will be recommended to the annual meeting. [Last year the company earned a net profit of £172,341, compared with £147,550 in 1936. At an extraordinary meeting of shareholders on October 8 proposals to subdivide the ordinary capital into shares of 5s each were carried.]

HACKSHALL'S LIMITED

DIVIDEND RATE MAINTAINED Hackshall’s Limited, a New South Wales bread and biscuit-making company, reports a profit of £21,589 for 1937, before providing £3,589 for taxation, compared with £24,624, before providing £4,624 for taxation, the previous year. A final dividend of 3]- per cent, makes 6 per cent, for the year, an unchanged rate. The year’s dividend requires £IB,OOO, and the amount brought forward, £15,500, is carried forward. The allocation of £3,589 is to provide for taxation on the year’s profit and also for taxation on subsidiaries’ profits. Depreciation written off, exclusive of that written off by subsidiares, was £4,083. The directors state that the bread section of the business suffered by severe price-cutting, and that the position in this regard remains unsatisfactory. During the coming year steps are to be taken to amalgamate the smaller units of the company’s bakery interests. Modern equipment will arrive shortly, and will enable the company to produce at the central bakery on a more economical footing. The price-cutting conditions extended during the latter part of the year to the milling industry, resulting in flour prices being lower than the price of wheat warranted. Ex-Australian interests again improved. I ALLOY STEEL (N.Z.) The shares of Alloy Steel (N.Z.) Limited. Christchurch, have been listed by the New Zealand Stock Exchanges on the recommendation of the Christchurch Exchange. The subscribed capital is £25,000 in. fully-paid £1 shares. DUNEDIN STARR-BOWKETT BALLOTS FOR APPROPRIATIONS. At a meeting of shareholders of the Dunedin Starr-Bowkett (Building Society last night, two appropriations of £SOO each were disposed of. In No. 5 group a ballot was held for an appropriation of £SOO. Cluster 260 was the successful number, which was held by one shareholder with five shares. In No. 6 group a ballot was also held for £SOO, cluster 72, held by one shareholder with five shares, being the successful number. vywvwwvuvvwuwA

TALLOW AND HEMP MARKETS

The Department of Agriculture has received the following cablegram from the High Commissioner for New Zealand, London: — Tallow.—Market weaker. At about 6d below last week’s rates. Hemp.—Manila:, Market quiet and easier. “K ” grade sold FebruaryMarch shipment, £l9 10s. Output January 1 to February 14, 142,000 bales, against 187,000 same period last year. Stocks in the United Kingdom January 31, 10,804 bales, against 5,375 same time last year. Stocks in Manila February 14, 199,000 bales, against 181,000 bales. Sisal; Market quiet and inactive. Closing, sellers, FebruaryApril shipment, £lB. New Zealand: Little interest shown, small business reported. High points, FebruaryApril shipment, £l9 10s. Stocks in London February 1, 16 tons, against ,46 same time last year.

AUSTRALIA'S PUBLIC DEBT

The Federal Treasurer, Mr Casey, has announced that the public debt of Australia at the end of 1937 was £l,275,876,113. Of this, £385,584,617 was owed by the Commonwealth, and £890,291,496 by States. Of the total Commonwealth debt, £2711,898,215 represents war debt. Of the total public debt of the Commonwealth and States £688,094,516 is domiciled in Australia, £542,888,038 in London, and £44,893,558 in New York.

SGRAP FOR JAPAN

AUSTRALIAN PURCHASES RISE STEADILY Japan’s purchases of iron and steel scrap in Australia continue to rise steadily. For the first six months of the current trade year exports from Australia to Japan were valued at £175.655, compared with £79,735 in the corresponding period of last year. Japan’s purchases of iron ore, however, declined from £82,392 in the six months of last year to £7,964 in the first half of this year. Purchases of zinc showed a decline from £213,988 to £136,674.