COMMERCIAL COMPANY NEWS

Greymouth Evening Star, 31 May 1946, Page 5

COMMERCIAL COMPANY NEWS

Pukemiro Collieres— Net earnings• of Pukemiro Collieries, Ltd., for the; year ended August 31, 1945', were! £5524, this figure including a divi-j dend of £1333 on the company’s I shares in Waikato Carbonisation, Ltd. In the 1944 year the net profit of Pukemiro Collieries was £3826. The latest result is struck after providing £1666 lor depreciation against £1737. The issue of the accounts follows payment of the company’s claim lor the year ended August 31, 1945, under the provision of the Waikato Coal Mines Regulations, which was received on May 17, 1946. After allowing £46 for taxation, short reserved in the 1944 accounts, the directors recommend a dividend of 4-1 per cent (unchanged), absorbing £4500, and leaving £978 to increase the floating balance to £2607. Goldsbrough, M ort. —Goldsbrough, Mort, Ltd., final dividend is 31- per cent., making 51 per cent, for the year. The net profit for the year was £124,089, compared with £131,003 for 1945.—(P.A.) New Zealand Paper Mills. —At the annual meeting of shareholders of New Zealand Paper Mills in Dunedin , yesterday, the chairman (Mr T. Somerville) said that the period under review showed a net profit of £9Bll. Commenting on the raw material, requirements, Mr Somerville said that although the supply) position remained difficult, the com- l pany had successfully negotiated for,; sufficient wood pulp to cover ap-| proximately the next 12 months, with good prospects for future needs, but . subject to the availability of overseas | shipping’ space The lack of adequate local transport facilities, both by land and sea, had resulted at times in an extreme shortage 01. wrapping supplies in most territories. the directors’ recommendation that a dividend of 4 per cent., making. 7 per cent, for the year, should be paid, was adopted. The distribution requires £BOOO, and leaves £17,322 to be carried forward in the profit and loss appropriation account.’ J. J. Niven and Co., Ltd. —-The 19,019 unissued shares in J. J. Niven and Company, Ltd., are to be offered to shareholders at par (17/-) in Proportion to their holdings at May 00, according to a circular issued by the company. The amount payable on shares is to be paid *on application and the offer will close on July 29. No dividend will be paid on new shares for the year ended March 31, 1946 but after that date it will be at the same rate as on the ordinary shares. The offer will enable shareholders to obtain about 31 new shares for each 200 held: Additional capital I is said to be required for general ex- | nansion of the business. At present the issued capital of the company is 180 981 shares of 17/ -each, fully paid, totalling £153,834. The new I issue will bring the capital to £170,000. The last available balance- ■ sheet’of the company, for the year ! ended March 31, 1945, showed reserves as follow:— general £24,000, 1 dividend equalisation £7500, capital £2O 663. The net profit for the year ended March 31, 1945, after providing •for taxation, was £19,657, compared with £13,789, in the previous year. ' The dividends for the last five years ' hnvp been as follow: —1941, 1/- a : share; 1942, IGd; 1943, lOd; 1944, 10d; 1945, 1/2. A year ago the ap- : proximate market price of the shares 1 was £l/0/3. The highest price paid 2 year was £l/10/-, at Chnst- ' church on Monday.—(P.A.)

MINING NEWS Electrolytic Zinc Company, returns from the Electrolytic Zl ’ lC ' Company of Australasia, Ltd., lor tne periods of four weeks ended April 3, 1946, and May 1, 1946, are as follow, all quantities being tons, and the May figures being mentioned last:—Pasdon works: zinc, 6066, 5956. West Coast mines: ore treated, 9975, 9886; lead concentrates produced, 620, 614; zinc concentrates produced, 3050, 2959; copper concentrates produced, 215, 215 Rimu Gold Dredging Co—The return- for the clean-up period from May 14 to May 28 was 342 crude ounces of gold from 96,258. yards in 254 hours 20 minutes.