COMMERCIAL

Grey River Argus, 17 January 1940, Page 11

COMMERCIAL

[Per Press Association]. WELLINGTON, January 16. Sales: Broken Hill £4 8s 3d (3), New Zealand Farmers’ Fertiliser 18s lid. Sales reported: Gordon and Gotch £2 13s, Woolworth’s Properties £1 5s 6d. CHRISTCHURCH, January 16. . Sales: Broken Hill Pty- 88s 6d, Woolworth’s (Sydney) 25s 4d, New Zealand 16s sd. Sales reported: New Zealand Breweries 37s fid, Woolworth’s New Zealand 16s 6d. LONDON, January 15. Bradford prices are very firm for all qualities available for civilian consumption. Crossbreds for civilian trade are increasingly difficult to Detain. i .. DUNEDIN TOMATO MARKET. First-grade tomatoes were bringing up to lid. per lb. in. the Dunedin market yesterday, and second grade from Bd. to lOd. Cucumbers eased in Dunedin at the end of last week to 10/- a case because of heavy North Island shipments. RIVER PLATE CO. The New Zealand and River Plate Land Mortgage Company Ltd., has cabled its New Zealand attorney, Messrs R. G. Milligan and A. Owens, that at the annual general meeting, to be held in London on January- 25, the directors will recommend a dividend of 4 per cent, less English income tax at 7/- in the pound, In. respect of the year ended October 31, 1939. This will absorb £28,000. The sum of £5,000 is being put to reserve and £24,760 is being carried forward. On the figures cabled the net profit is £32,694, against £32,566 in the previous year. Results compare as follows :—

,1937. 1938. 1939. £ £ £ Brt. forward 22,800 23,750 25,066 Net profit .. 30,450 32,566 32,694

53,250 56,316 57,760 To reserve .. 5,000 5,000 5,000 Dividend, p.c. 3J 3:1 4 Amount .. 24,500 26,250 28,000 Car. forward 23,750 25,066 24.760 From 1928 to 1931 the company distributed 9 per cent, but after that penod the dividend was reduced and fell as low as 3 per cent in the years 1934 to 1936. UNION BANK. The Union Bank of Australia, Ltd., has declared a final dividend equal to 4/- (English currency) a share, less British - income tax of 9.9 d. a share, making the net dividend 3/2 a share, English currency. Warrants will be drawn on Wellington and wifi be payable at any pf the bank’s branches in New Zealand at the buying rate of exchange for demand drafts on London at the date of the warrants, namely January 31. An interim dividend of 3/- sterling a share, less tax of 6.6 d. a snare, making 2/5.4d .a share, was paid in July. This makes 5/7.5d, steriing ; a share for the year ended August 31. The declared rate is unchanged at 7 per cent. per -annum, less tax, but owing to the increase in British income tax shareholders will receive slightly less. Actually in New Zealand the return will be around £6/ 19/- per cent, against approximately £7/4/2 per cent for the year'l937; 38 financial year.