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Greymouth Evening Star, 29 August 1934, Page 8

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KAIAPOI WOOLLEN CO. [PEB PBESS ASSOCIATION.] CHRISTCHURCH, August 28. The operations of the Kaiapoi Woollen Manufacturing Company, Ltd., for the year ending July 19, show -a marked improvement on those of the years immediately preceding. A profit of £6782 in 1933, after £2OOO had been transferred to depreciation, has been replaced by a profit of £17,855 this year, after transferring £6OOO to depreciation. For the first time since 1930, an ordinary dividend has been paid, the rate being 3 per cent, as against 4 per cent, in 1930. The directors’ report states that trading conditions have shown an improvement during the year, but the phenomenal rise which occurred in greasy wool last season, while of great benefit to the Dominion, had an adverse effect on the Company’s trading operations. Stocks have again been further reduced and at £203,843 are conservatively valued. The directors recommend that the available balance £17,951, be distributed as follows: Preference dividend (two years), £6,714/13/4, ordinary dividend £7269/5/7, transfer to bad debts reserve £2OOO, transfer to tax reserve £l5OO, carry forward £467. The directors retiring by rotation, W. H. Clark and A. F. Carey, offer themselves for re-election.

STOCKS AND SHARES DUNEDIN, August 29. Sales: Oxenbridge 9d. Reported: Bell Hooper 5Jd. CHRISTCHURCH, August 29Sales: On ’Change, National Bank of Australasia (£s* paid) £6/5/-, New Zealand Guarantee Corporation 4/6 (2); Westport-Stockton Coal (pref.) 4/9 (2); Broken Hill Proprietary 48/9 (2); Electro Zinc. (ord. cum. div.) 27/10; Alexander Mines. 19/- (2); Brian Born 1/5, Glenroy 1/2, Goldfields Dredging 1/2, King Solomon (cum. div.) 4/3, Mt. Lyell 20/3, Waihi Grand Junction 4/4, Mossy Creek l/lii. Reported: New Zealand Insurance 63/-, South British Insurance 84/-. WELLINGTON, August 29. Sales: Four per cent. Inscribed 1946 £lO7/5/-, Goldsboro’ Mort. £l/11/-; Loan and Mercantile £53/15/-, BellKilgour (3) 3/4. AUCKLAND, August 29. Sales: Northern Steam Con. 1/6; Mataki 2/3, Consolidated Brick 9/9, Mt. Lyell 20/3, Gas 25/6, contributing 18/9, Gear Meat 26/6, Cement 30/-, Breweries 47/6, Standard Insurance 67/-, Colonial Sugar £66/5/-, Rural Bonds £lO4, Stocks 1940 £lOB and 1946, £lO7/5/-.