COMMERCIAL

Gisborne Times, Volume LXIX, Issue 10908, 28 May 1929, Page 2

COMMERCIAL

FARMERS’" TRADING COMPANY

YEAR’S NET PROFIT TOTALS : ' ' : £49,335. J '• V' ■

iPress Association.)

AUCKLAND. Alay 27

The annual report of the Farmers’ Trading Company, Ltd., states thattlie net profit for the year was £49,335, against £42,561 last year. Dividends of 7 per' cent, on .preference, shares and 10 per cent on ordinary shares, are recommended, as against 6 per cent, and 8 per cent, respectively last year. A credit balance of over £22,000 ill tlie bank was shown on March 31. Profits are subject- to income tax. after payment of which and tlie .dividends, the balance to lie carried forward will he over £40,000. an increase of £IO,OOO on last year. NORTHERN STEAMSHIP CO. In their forty-eighth annual report the directors of the Northern Steamship Company state that the net prolit on working account for the year ended. March 31. alter making provision for depreciation, insurance and boiler and repairs account, is £13.161. Transfer fees (£l4) and balance brought forward 60301 leave £22,480 available,' for distribution. Jt is now proposed to pay a dividend at the rate of 8 per cent, per annum which, with tlie interim dividend already paid will absorb £12,913, leaving a balance to profit and loss account of £9507.

Al bI'KALI AN GLASS COMPANY

DIVIDEND OF 12V PER- < ENT.

The directors 'of Uic .Australian Glass Manufacturers Company. Ltd., recommend llie declaration of a final dividend for the half-year of 9 per cent. per' annum on preference shares, anil 10 •per cent, per annum, plus a bonus of 2J per cent, on flic* ordinary .shares. The dividend with the bonus declared shows an increase of 2.V per cent. NEW ZEALAND PAPER AIILLS The net profit earned by the New Zealand Paper “Mills. Lid.. during the twelve months ended March 31 shows an increase of nearly L2.0f.K1 on .the profits of the previous year, the figures being JCLKO33 against £9052. The manufacturing and i railing account yielded an income of £30.659, and with other receipts the total income was £37.199. Tlie expenses amounted to 620.160. To the net profit must be added £slll brought forward, making available £16.174. The dividend for the year is 6f per cent, against 6 per cent. Hi the previous year, and absorbs £97511. leaving to be earned forward £0424 STOCK AND SHARE AI.AJ.Dx f.TS (Press Asiociaiion.) AT'CELAN". May 27 Sales on ’Change: Gliiuemuri Mines, 8s; Bank of New Zealand 62s 6d : National Bank £7 2s (id : Bank of New South Wales £52; Aibunim. Is 9d : Northern Steam IPs; Sanford 17s 9il; Taupiri Coal 26s 3d : Commercial Bank, 30s 2d; Wilson's Cement 425. WELLINGTON, May. 27. Sales reported: Coinmeieial Bank of Australia, ord., 30s ‘ld; Bank ot New South Wales £52; Bank of New Zealand 62s 6d ; do., long term, 19s. On Change; Bank of New Zealand 62s oil. CHRISTCHURCH, May 27. Sales on ’Change: Blank of Commerce 36sTOd (2); New Zealand Insurance, 475; Farmers’ Co-op. A prof., 59s 9d; N.Z. Farmers. Co-op., B puef., o’Ss 6d;- Alaliakapawa, 3.1 d (4). Reported sales: Farmers’ Coop. 6} per cent, stock, 1939, £9O. LONDON PRODUCE MARKET The Bank of New Zealand have received the following advice from their London office as at close of business last week Butter: The market ks steady at 166 s per cwt. Cheese: Firm; white 80s to 90s; colored 90s to 91s per cwt.

AYetliers: The market is firm. Ewes: Prices are maintained with difficulty. Lambs: There is a fair demand. Beef: Tlie market is short of supplies and prices are nominal. Current quotations are- as follows: Mothers, light Od to 7id. heavy -It'd to 5/d : ewes. 4/d to 5/d per lb: lambs, twos 9/d to 9/d per lb, eightS/d to 9d, fours Sd to 8/d. seconds 9d to 9id; ox, hinds 5/d to 6d. fores lid to -I/d ; cow, hinds old to old; fores 4/d to 41-d.