COMPANY NEWS

Evening Star, Issue 23175, 26 January 1939, Page 10

COMPANY NEWS

BERLEI (N.Z.) LTD. EARNINGS MAINTAINED DIVIDEND OF 17* PER CENT. PURCHASE OF PROPERTY The accounts of Berlei (N.Z.T Limited for the year ended December 19 show a net profit of £10,666, which is only £3B lower than the record earnings of the previous year. After transferring £1,522 to reserve the directors recommend a- final dividend of 2s a share, making 3s 6d » share for the year, equal to 17* per cent., an unchanged rate. The year’* dividend absorbs £8,750, leaving £1,636 to be carried forward, against £1.243 brought in. The directors state that sales reflect a satisfactory increase, but profit on the extra turnover was offset by increased costs of manufacture. The adjoining freehold property has been purchased, which will provide ample space for any future extension. Results for the last three year* compare as follows:

ELDER, SMITH NEW SHARE ISSUE PROPOSED At a meeting of shareholders of Elder Smith and Co. Ltd., to be held in Adelaide, a resolution will be submitted that 50,000 unissued shares in the company be forthwith offered to shareholders in the proportion of one to eight of the shares held by them on February 21, 1939, such shares to be issued at £6 a share. The directors state that the expansion of the business has made it advisable to secure additional capital. CHRISTCHURCH GAS MET PROFIT SLIGHTLY LOWER [Feb United Press Assocutiob.] CHRISTCHURCH, January 25. A net profit of £24,845, against £27,785 in the previous year, is shown ift the accounts of the Christchurch Gas, Coal, and Coke Company Ltd., for the year ended December 31, 1938. The dividend, as announced earlier, is maintained at 7 per cent., and requires £25.250. Taxation provision has been increased by £5,352, and the carry-forward is £4,738, against £8,420 brought in. The balance sheet shows an increase of £22,000 in investments, and a reduction of £II,OOO in bank deposits. AUSTRALIAN INSURANCE Australian General Insurance Conipanv Ltd., of Sydney, reports an underwriting profit of £9,134 for 1938. With interest earned this makes £16,418 available, against £13,648 in 1937. Dividend at the unchanged rate of 10 per cent, tequires £7,000, and £9J.4U is transferred to contingency fund. Net premium income increased from £91,387 to £97,805, and losses from £43,277 to £44,644. Expenditure was £41,336, against £44,027. The contingent fund will amount to £39.760 after making the transfer of £9,418, and total funds to £189,952. To reinsure outstanding risks £39,122 is required. WELLINGTON TRUST. LOAN CO. The Wellington Trust, Loan, and Investment Company Ltd. has advised th© Stock Exchange Association that it* share transfer books are closed till after the annual general meeting on February 8. AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph—Copyright SYDNEY, January 25/ A moderately stronger selling movement persists on the Stock Exchange, due to ' the unsettled international situation. This was responsible for » heavy turnover to-day, covering a wide range of securities. Falls again outnumbered rises, but the tendency the close of the market was steadier than yesterday.

1936 1937 1938 Brought forward Net profit ... ... £2,479 9,502 £2,039 10,704 £1,249 10,668 Reserve account Dividend p c. ... Amount ... £11,991 1,255 17}* ... 8,687 £12,743 2,751 17} 8,760 ! 1 Carried forward ... £2,039 £1^242 £1.631 •Includes bonus of Is a share.

lUtUi JCOUOiVMJ • Bank of New South Wales £ s. d* 30 0 0 Coram. Bank of Sydney 20 10 0 (New Zealand delivery) Coram. Bank of Australia 0 15 3 Colonial Sugar 45 12 6 New Zealand Insurance ... 2 10 0 Howard Smith 0 19 111 Burns, Philp 2 12 0 Berlei 2 0 0 British Tobacco 2 7 0 G. J. Coles .. ... 3 17 0 Dunlop Perdriau ... ••• 0 19 10H Dunlop Perdriau (pref.) ... 1 18 9 David Jones 1 13 6 General Industries Mort’s Dock ••• 0 18 J 0 13 10 Australian Guarantee Corporation ...... — 12 3 Amalgamated W ireless (pd.) Grimley ••• ••• • •• ••• 3 2 0 1 3 9 Howard Auto (New Zealand delivery) 0 18 9 Waldas 0 6 0 Masonite ... ... ... ... 0 17 6 Cash Orders (New Zealand delivery) > 0 15 6 Newbold Brick ... ... ... 1 9 3 Mauri Bros 3 7 3 Goldsbrough. Mort 16 0 Henry Jones 2 8 0 Electrolytic Zinc 2 3 6 Electrolytic Zinc (pref.) ... Mount Morgan (New Zealand delivery) ... 2 8 3 0 9 11 Mount Lyell ... 1 5 6 Broken Hi'll Pty 2 14 6 North Broken Hill ... ... 2 4 3 Placer Development ... 3 18 0 Emperor 0 9 2 Loloma* 10 0 Oil Search 0 5 10 MELBOURNE. January 25. ! £ s. d. British Tobacco 2 7 8 Dunlop Perdriau 1 0 I G. J. Coles 3 17 9 ‘ Herald and Times ’ ... ... 2 19 6 Carlton Brewery 3 5 0 Broken Hill Pty. ... ... 2 14 0 North Broken Hill 2 4 3 Broken Hill South 15 6 Mount Morgan 0 10 0 Loloma ... 0 19 9