COMPANY NEWS

Greymouth Evening Star, 18 October 1946, Page 5

COMPANY NEWS

Guarantee Corporation. — A net profit bf £5738, compared with £4384 the previous year, was made by New Zealand Guarantee Corporation. Ltd., in the year ended August 31. The carry-forward from the previous year was £3822, which, with the net profit, gives a balance of £9559 in the appropriation account. The unchanged dividend of lid a share requires £4425, leaving £5135 to be carried forward. Farmers’ Trading Co.— The Farmers’ Trading Co., Ltd., is paying the usual interim dividends on A, B, and C preference shares on November 30. The rate for A and B preference is 7 per cent, per annum, less the 20 per cent, deduction under the Interest Adjustment Act, making 5 3-5 per cent, per annum, and the rate for C preference is 5 per cent. Mutual Benefit Building.—Net profit of £6460 (£6422 last year) is shown in the accounts of the Mutual Benefit Building and Investment Society of Canterbury (Permanent), for the year ended September 30. Tne seventy-fotfrth annual report states that the society’s lending rate was reduced to 4£ per cent, on March. 7, but the directors recommend , while the rate remains at 4 2 - the rebate of 2/- in the £ of the amount of interest paid by borrowing members with advances at higher rates before March 7 be continued. Of assets of £251,496, advances on mortgage account for £229,752 and investments £17,077. Chief under liabilities are capital snareholders’ funds £llO 062 and deposits and interests accrued £122,383. Re ceipts of £94,553 include £47,299 repayment on mortgages and £30,400 deposits. Chief payments, items are £5l 423 by advances on mortgages and £27,075 deposits withdrawn.