COMMERCIAL COMPANY AND MINING NEWS AND REPORTS

Greymouth Evening Star, 13 August 1947, Page 9

COMMERCIAL COMPANY AND MINING NEWS AND REPORTS

Commercial Bank of Sydney. The directors of the Commercial Bank of Sydney recommend a dividend of 7i per cent, per annum for the last halfyear.—(P.A.) Clutha River Return. —The Clutha River dredge obtained a return of 108 ounces for 112 hours. — (P.A.)

Mining Quotations. —Latest quotations of mining stocks on the London] Exchange are: —Broken Hill South, 25s 9dt Broken Hill Proprietary, 40s; New Broken Hill, 32s 3d.—London, August 11. C„ J. Coles’ Earnings.—A decline in net earnings of £4879 to £197,093 is shown in the accounts of G. J. Coles, Ltd., Melbourne, retailers, for the year ended June 30. Profit is reached after providing for taxation and £98,871 for depreciation, £18,014 more than in the previous year. Dividends are the same at 8 per cent, preference and 12 per cent, ordinary, requiring £166.982 and £30,000, a reduction of. £5OOO, is placed to reserve fund, which is brought up to £392,354. Victoria Insurance Dividend. —The Victoria Insurance Company, Ltd., has announced a final half-year’s dividend of 3,s a share and a bonus of Is a share, making 6s, or 15 per cent, for the year, against 121 per cent, in the previous year. Millaquin Sugar Dividend. —In spite of a large drop in profits, Millaquin Sugar Company, Ltd., Queensland, is paying the customary 11 per cent., including 4 per cent, earmarked as “special bonus.” Net profit of £23,584 for the year ended June 30 last compares with £56,184 for 194546. As the dividend and bonus absorb £55,000 or £31,416 more than the profit, the carry-forward is reduced

from £63.487 to £32,071. Crushing was the lowest for many years, owing to drought and frosts.