COMMERCIAL

Greymouth Evening Star, 19 September 1940, Page 11

COMMERCIAL

CABLE WIRELESS LONDON, September 18. The Cable Wireless Operating Company has declared an interim dividend of IJ per cent. The Holding Company has declared its usual halfyearly preference dividend of 5| per cent. < . ■ MILNE AND CHOYCE. -AUCKLAND, September 18. “Before concluding, I must pay tribute to our London office,” said Mr J. S. Milne, chairman of directors of Milne and Choyce, Ltd./ moving the adoption of the report and balancesheet at the thirty-ninth annual meeting the company to-day. “The cheeriness of their letters, the celerity with which they handle business, and their calm courage in the face of all they are passing through is a wonderful example and I am sure the allocation of a bonus to them will have your full support.” Mr Milne said that this year’s trading had shown a substantial increase. Liabilities totalled £ 122,888, and 'against that there were assets in stock, debtors, and cash amounting to £222,455. The staff numbered 596, and would again share in the company’s profits. The report and balance-sheet were adopted. The retiring directors, Messrs J. Bruce Elliott and H. V. Choyce, were re-elected. PUBLIC TRUST OFFICE. Estates of a value of £886,693 were reported and accepted for administration by the Public Trustee during the month of August. The total value of the estates and funds under administration by the Public Trustee on March 31 was £62,622,175, and the new business for the five months ended August 31 was £3,212,099. Grants of administration made by the Court in favour of the Public Trustee numbered 189 for the month. During the month 726 new wills appointing the Public Trustee executor were prepared on behalf of the testators and lodged for safe custody, and 472 existing wills were revised to provide for changes desired by testators. The total number of wills now held in the Public Trust. Office on behalf of living persons is 100,679-.

STOCKS AND SHARES. - CHRISTCHURCH, September 19. Sales: Bank of New Zealand 42/6 (3); Canterbury Frozen Meat £lO 10/-; Canterbury Frozen Meat (pref.) £6/12/6; Australian Consolidated Industries (contributing) 15/6; Woolworths, Sydney, 18/3. Reported: Canterbury Frozen Meat £lO/10/-; Zinc (ordinary) 51/6; Emperor Mines 11/1; Mount Morgan 8/2. WELLINGTON, September 19. Sale to-day: Bank of New Zealand £2''2/6. Sales reported: Bank of New Zealand £2/2/6, Mac Duffs Ltd. (ord.) 10/6. ■ * SYDNEY, September 19. Bank of New South Wales £26, Commercial Bank of Australia 13/9, Broken Hill Proprietary 44/3, Colonial Sugar £47/7/6, Dunlop Perdriau 17/7|, Henry Jones 53/6. WORKSOP EXTENDED. An extraordinary general meeting of shareholders of the Worksop Extended Gold Dredging Company, Ltd., took- place on September 10, at Reef ton. Mr D. A. McVicar, chairman of directors, presided over a fair attendance. I The meeting was called to consider

the information supplied in a recent circular issued to shareholders. It was stated, that owing to the failure of the wooden pontoon to stand up to future dredging operations, coupled with the fact that the area of ground available for dredging is too limited to warrant building a new pontoon, it was decided to close the dredge down permanently and all machinery, plant and equipment on the dredge has been dismantled and stored ashore, either for re-sale or for re-installation on a new claim, provided a suitable area can be secured. The meeting passed a resolution recommending the directors to secure a new dredging area which would be suitable to re-erect the dredge plant on. The directors were further authorised to prospect any new dredging ground which may be considered suitable to be worked by this company’s dredge. In order to await the results, the meeting was adjourned until November 19.