COMMERCIAL

Greymouth Evening Star, 4 December 1946, Page 5

COMMERCIAL

MORE CAPITAL FOR FELT AND TEXTILES

(P.A. WELLINGTON, Dec. 3. The Stock Exchange Association of New Zealand .has been advised that: the Minister of Finance has given consent to an increase in the nominal capital of Felt and Textiles of N.Z., Lid., Io £1,600,000, and to offer lo present shareholders in the company 260.000 shares at par, which may be either ordinary or preference shares.

The directors accordingly propose to take steps in the new year to convene an extraordinary general meeting of the company to consider increasing the nominal capital by the creation of 250,000 ordinary shares of £ 1 each, and 250,000 5 per cent, cumulative preference shares of £1 each, the latter preferential as to both dividend and capital. After the increase in capital the directors propose that an offer should be made to existing shareholders of two ordinary shares and two preference shares for every five shares held in the company at the date of the issue. Appropriate provision will be made for the renunciation of rights to the issue by shareholders. It, is further proposed that the issue should be made on terms providing for payment in full of application, moneys by not later than March 26, 1947, and that shares should rank for dividend in respect of the year commencing April, 1947. COMP AN? NEWS Grey River Dividend.—The directors of the Grey River Gold Dredging Company have declared an interim dividend of 3d a share, payable on December 20.—(P.A.) Mining Quotations. —Quotations listed in London:—Broken. Hill North 5-3/-; Zinc Corporation, 86/-; New Broken Hill, 30/6. Carlton Breweries. —Carlton and United Breweries, Ltd., Victoria, profit foi- the year ended June 30, of £451,947, compares with £472,605 last year, after providing £54,931 for depreciation, against £57,080. Parent company’s profit is £21,463 lower at £375,124, after providing £42,279 for depreciation, against £44,929 last year Preference dividend of 10 per cent, absorbs £30,000, and unchanged 10 per cent, ordinary dividend requires £262,500. The remaining £82,624 is placed to reserve. Dominion Breweries. . Ltd.-- Dominion Breweries, Ltd., is paying an interim dividend of <■£ per cent, gii 'noth ordinary and preference shares on December 13 ex December 4. Devonport Ferry.——The Devonpori. Steam Ferry Company, Ltd., has declared an interim dividend of 2| per cent, payable December 20 ex December 5.