COMMERCIAL
STOCKS AND SHARES WELLINGTON, July 27. Sales: Bank of N.Z. long term 26/6. British Tobacco 28/3. AUCKLAND, July 27. Sales: Commercial . Bank 13/11; Waihi 15/4; Breweries 25/-. Wilson’s Cement 30/-. New Zealand Insurance 40/-. ’ . GREY VALLEY COLLIERY. AUCKLAND, July 27. There were at 8/- for. Grey Valley Colliery shares on ’change,- today, but no business resulted. : N.Z. INSURANCE COMPANY. AUCKLAND, July 25. For hte year ended May 31 last, the net premium revenue earned by the New Zealand Insurance Company showed a drop of £94,906, as compared with the previous term, and the return from interest and rents was down £13,841. The directors have decided to recommend payment of a dividend at the unaltered fate of Is a share for final distribution.
The 94th annual report of the directors shows that the net revenue fro_m fire marine, and accident premiums amounts to £1,050,351; the balance brought forward from 1931 is £180,943 (less dividend at the rate of Is per share paid in August, 1931, £75,000); the surplus on the year’s operations, after making full provision for all ascertained losses to May 31 'and appropriation for taxation (exclusive of provision for depijeciation for investments, which is provided for in fluctuation and’ contingency account) amounts to £77,806; the net income from interest and rents is £126,455, making a total of £310,205. This has been, dealt, with as follows: —Interim dividend paid in February, £75,00.0; Transfer to fluctuation and contingency account, £50,000; Leaving a balance of £185,205. It is now proposed to pay a dividend of 2s per share for the year (less interim already paid in February), absorbing £75,000, and leaving a balance to be carried forward of £110,205. Sir Alfred Bankart, Messrs. Oliver Nicholson and Charles Rhodes, the re-
tiring directors, are eligible for reelection.
COAL DISTILLATION CO. Mr H. R. Young, Chairman of Coal Distillation and By-Products Ltd. visited the Grey District to-day on investigation work relating to the Company. The proposed works site was visited and a special survey made. Also coal samples from the Brunner Collieries and other collieries in the Valley were obtained. 1
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Greymouth Evening Star, 27 July 1932, Page 9
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348COMMERCIAL Greymouth Evening Star, 27 July 1932, Page 9
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