COMMERCIAL COMPANY AND MINING NEWS AND REPORTS

Greymouth Evening Star, 12 August 1947, Page 5

COMMERCIAL COMPANY AND MINING NEWS AND REPORTS

Commercial Bank of Australia. — Net. profit of the Commercial Bank of Australia, Ltd., for the year ended June 30 was £283,174, an increase of £20,989, and the highest result since 1931. The bank topped the £300,000 mark 16 years ago, when net earnings were £308,450, and the dividend distribution ll j per cent. In the last year ordinary dividend was .raised from 71- per cent, to 8 per cent, and premises appropriation was increased £10(000 to £35,000. Gross profit rose £323,542 to £1,920,340 and expenses by £269,893 to £1,403,-980. Taxes absorbed £293,186. an increase of £32,660.

Victoria Laundry Dividend. —A dividend of 4 per cent, for the year ended May 31, 1947, has been declared by Victoria Laundry, Ltd., compared with 3 per cent, for the previous year. The share register will be closed from August 11 to August 27 inclusive.—(P.A.) A Sharp Fall. — Metropolitan Gas Company, Melbourne, shows a fail of £57,230 to £104,984 in net profit for the year ended June 30. The which is equal to only 3.2 per cent, on shareholders’ funds, is £61,266 short of the arqpunt of the steady 10 per cent, dividend ( £166,250). Carryforward is reduced from £97,096 to £35,829. Taupo-Totara. —An increase of £lll7 net profit to £9925 is shown in the accounts of the Taupo Totara Timber Company, Ltd., Putaruru, for the year ended June 30. Ordinary dividend is being raised to 6 per cent. Rreference and ordinary dividend requirements total £8478, leaving exactly the extra profit, £1177, to increase the carry-forward to £5905.