COMPANY NEWS

Evening Star, Issue 23174, 25 January 1939, Page 8

COMPANY NEWS

TOOHEYS LIMITED NEW SHARE ISSUE; ONE FOR EIGHT PREMIUM OF SO PER GENT. The directors of Tooheys Ltd. have decided to otter 240,625 unissued shares of I6s each to shareholders at a premium of 8s each, in the proportion of one new share for every eight now held. In a circular to shareholders the directors state that the new capital is required to provide capital to enlarge the production capacity of the brewery, because of increased trade, and also for the general expansion of the company’s activities. The amount of £1 4s a share will be payable in three instalments at threemonthly intervals from March 21. The full amount may be. paid on or before March 21, in which case the shares will rank for dividend as from March 21. During the year ended July 31, 1937, 250,000 new shares were issued at a premium of 8s a share, increasing the paid-up capital from £1,200,000 to £1,400,000. Last year a further 175,000 shares wore issued at a premium of 8s a share, bringing the paid-up capital to £1,540,000. In 1935 shareholders were -given the right to subscribe for 375,000 A preference shares in Tooheys Securities Ltd. in the proportion of one A preferepce share for every four shares held in Tooheys Ltd. The issue now announced represents an increase in capital of £192,500 to £1.732.500, but the premium represents £96,250. so that the company will receive £288,750. Profits and dividends in recent years have been;— Year

KANDOS CEMENT INTERIM DIVIDEND RAISED Kandos Cement Company Ltd. has declared an interim half-yearly dividend of 6i por cent. For 1937-38 the company paid a dividend of 10 per cent, (interim and final each 5 per cent.), together with special bonus of 2} per cent., to commemorate the twenty-fifth anniversary of the establishment of the works at Kandos. FELT AND TEXTILES LTD. EXPANSION OF SUBSIDIARIES James Seymour and Co. Pty. Ltd. and Baldwin and Grant Pty. Ltd., two subsidiaries of Felt and Textiles of Australia Ltd., have increased their nominal capitals from £20,000 to £IOO,000, in each case by creating 80,000 new shares of £1 each. The additional capital is required by the companies to finance expansion in their particular avenues of business. The parent company, it is understood, will not seek any new capital from its shareholders to finance the acquisition of the new shares in the subsidiaries. AUSTRALIAN GLASS

In a circular to shareholders the directors of Australian Glass Manufacturers Company Ltd. state that the plans for the bonus share issue involve the registration of subsidiary companies. It is proposed that the name of the company should be changed to Australian Consolidated Industries Ltd. to permit the registration of a subsidiary company with substantially the same name as that under which Australian Glass is now trading. An extraordinary meeting of shareholders has been called to authorise the change of name. SHEEPSKIN SALE LITTLE CHANGE IN VALUES The Dunedin Stock Agents and Wool Brokers’ Association reports as follows on the sheepskin sale held yesterday ; A fair offering was submitted before the usual attendance of exporters, fellmongers, and the local trade. Included in the offering were some nice parcels of abattoirs and butchers’ skins. Competition was fairly spirited and well spread, values for sound-pelted descriptions being occasionally easier. Shabby, faulty, dead, damaged, and inferior sorts were in good demand, and sold round about last sale’s quotations. Pelts were Jd cheaper. Merinos sold up to 7Jd. half-breds to 73d. fine cross-breds to 7id, cross-breds to 73d. fine cross-bred iambs to 7d, and half-bred hoggets to 7Jd. The following is the official range of prices:— ■ Merino.—Pull-wool. 7d to 7Jd per lb. Fine half-bred: Full wool, 7|d to 73d, Half-bred : Full wool, 7sd to 73d; three-quarter-wool, 7d to 7Jd; half-wool, s!d to Gid; quarter-wool. 4Jd to sd. Fine cross-bred : Full wool, to 7id; thrce-nuarter-wool, 6d to 7 Jd; half-wool, to Old. Cross-bred; Fullwool, 7d to 7]d; three-quarter-wool, Gid to 7d; half-wool, s\d to o-Jd; quarter-wool. 4}d to 43d. Hoggets: Half-bred. 7id to 74d: fine cross-bred, Gi|d to 7d: cross-bred. 64d to 63d. Lambs : Half-bred, GJd to 7d; fine crossbred. Gid to 7d; cross-bred, to 63d. Dead: Half-bred, Gid to 7d ; fine crossbred, Gd to Gid; cross-bred, s|d to 6d. Pelts: First, 3\d to 4d; second, 2|d to 23d. The next sale is scheduled for February 21. ANTWERP FUTURES Press Association—By Telegraph—Copyright LONDON, January 24. (Received January 26, at 11 a.m.) Antwerp futures are quiet. February 21, 7s 8d; May 22. 3s 8d; July 22, 5s Bd.

ended Net Div., Div., July 31. Profit p.c. Amount. £ £ 1932 ... ... 72,0276 72.000 1933 ... ... 72,660 6 72,000 1934 ... ... 84,426 6* 78,000 1935 .... ... 92,751 7* 90,000 1936 ... ... 108,819 8 96,000 1937 ... ... 120,136 9 112,453 1938 ... ... 151,973 9 131,905