COMMERCIAL COMPANY AND MINING NEWS AND REPORTS

Greymouth Evening Star, 15 October 1947, Page 8

COMMERCIAL COMPANY AND MINING NEWS AND REPORTS

London Mining Quotations. — Mining stocks are quoted as follows on the London Stock Exchange: Broken Hill North, 62s 6d; Broken Hill South, 335; Broken Hill Proprietary, 41s; Zinc Corporation, ordinary, £5 12s; New Broken Hill, 36 6d; Mount Morgan, 7s 7d. —London, October 13.

Austrai-N.Z. Mining.—ln the 14 days ended October 10, the mine worked 234 hours and produced 358 ounces of bullion.—(P.A.)

N.Z. Guarantee Corporation.—The net profit of the New Zealand Guarantee Corporation, Ltd, for the year ended August 31, was £7465 compared with £5737 in the previous year. The balance in the appropriation account amounts to £12,600, compared with £9559 in the previous year. The recommended dividend of of 2d a share free of Social Security tax will take £5899, leaving £6701 (£5134) to be carried forward. The directors also recommend the payment of a bonus of 6d a share from investment reserves, amounting to £17,697. This is also free of Social Security tax. It is also recommended that £lO,OOO be transferred from the investment reserve to the general reserves.—(P.A.) South Otago Freezing Dividend.— The directors of the South Otago Freezing Company, Ltd, in their annual report, state that after making provision for depreciation and transferring £9lOO to the reserve for income tax and social security tax, the I balance remaining, including last year’s carry forward, is £21,218. The directors recommend, payment of a dividend at the rate of 5 per cent, per annum, which will absorb £6635, and that the balance of £ 14,587 be carried forward.

South British Insurance.—The net premium income of the South British Insurance Company, Ltd, for the year ended August 31, was a record, but increased expenses were higher and losses and a substantial transfer to the risks reserve reduced the underwriting surplus from the previous year’s peak figure. A bonus of 6d is added to the usual dividend of 2s a share for the year (final Is), making a total of 25 per cent., which requires £257,910. The carry-forward is £664,436 against £526,933 brought in.