COMMERCIAL

Greymouth Evening Star, 19 November 1942, Page 2

COMMERCIAL

STOCKS AND SHARES. CHRISTCHURCH, November 19. Sales: 100 Goldsbrough Mort 27/6, 100 Griffen and Sons (cum div) 20/6, 100 Grey River 13/6, 100 Ngahere 6/-. Reported: • 300 Woolworths Ltd. 15/9, 200 Broken Hill Pty. 39/-. WESTLAND BREWERIES “The brewing industry in New Zealand has experienced a very difficult period,” states the annual report of Westland Breweries, Ltd. “Apart from the difficulty of carrying on a business of this character during the extraordinary disturbed conditions occasioned by the war, the Government in May last,- decided to advance the beer duty by 1/- a gallon, making an overall duty of 3/- a gallon. At the same time, the gravity was reduced from the prevailing standard of 1047 to 1036. Recently, a Government cut of 25 per cent, of the sugar used in brewing was also imposed. These radical changes necessitated considerable alteration in brewing methods in order to comply with these provisions. “The gross profit for the year after paying for materials, wages, and beer duty is £24,550/15/7. The net profit is £9,900/13/5. After setting aside £7,304/4/2 for income tax, social security charge, and national security tax, and taking into account the debit balance of £1530/7/8 from last year there is a balance of £1066/1/10 to be carried forward for next year’s accounts,” the report says. “In view of the troublesome times through which we are passing because of the war, and to the large amount required to meet taxation the directors decided it was not advisable to recommend payment of a dividend.”