COMMERCIAL Company and Mining News And Reports

Greymouth Evening Star, 21 May 1949, Page 7

COMMERCIAL Company and Mining News And Reports

McKenzie’s Department Stores. —A final dividend of 5 per cent, free of social security tax, making 10 per cent, for the' year, plus a bonus of 2| per cent., free of tax, a total distribution of 12| per cent., is recommended. The rate is unchanged from last year.—(P.A.) Kauri Timber Dividend. —Kauri Timber Co., Ltd, Melbourne, advises payment of an interim dividend of 2 per cent, (unchanged), payable June 23. Books will close at noon on June 9.—(P.A.) A. S. Paterson Accounts.—The accounts of A. S. Paterson and Co., Ltd, for the year ended March, 1949, show a net profit of £17,279, after providing £38,584 for taxation and transferring £14,205 to specific reserves. The previous year’s net profit was £14,684, after providing £22,049 for taxation. Changed dividends of 5 per cent, on both ordinary and preference shares (final, 2> per cent.), take £13,950. The sum of £4500 is transferred to general reserve, and the carry-forward is £7255, against £8425 brought in — (P-A.) Martha Dividend.—Cabled advice has been received from London by the local directors and the attorney of the Martha Gold Mining Co. (Waihi), Ltd, Mr J. H. G. Banks, that at the annual meeting in London on June 15, the directors will recommend a dividend on account of the year ended December 31, 1948, of twopence sterling a share, tree of British income tax, payable on June 22, 1949, to shareholders registered on June 1. Books close on June 1 to 14, inclusive. —(P.A.) Grey River Dredging, Ltd. — tne return for the clean-up period, May 2 to May 17, was 291.95 ounces from 206,133 yards in 309£ hours. Ngahere.—The Ngahere return for the two weeks ended May 20 was 251 ounces from 102,485 yards worked in 239 hours. Snowy River.—The return is 323 ounces from 43,000 yards treated m 252 hours.