COMMERCIAL

Grey River Argus, 15 March 1940, Page 3

COMMERCIAL

STOCK EXCHANGES. WELLINGTON, March 14. Sale: Bank of Australasia £lO. Sales reported: of New Ze - land £2 Is 6d, £2 is lOd, South British Insurance £2 9s 6d. CHRISTCHURCH, March 14. Sales: Commercial of Austra-. lia 16s 6d, Ballin’s Breweries 13s, Tooth’s 57s 6d, Broken Hill Pty. 52=1 (5), United Provisions 9s 6d, Woofworth’s’ (Syd.) 24s Bd. WOOLWORTHS (SYDNEY). The full accounts of Woolworths, Ltd., Sydney, show a net profit of £272,922, against £271,693 in the previous year. This includes £49,899 in dividends from Woolworths (N.Z.), Ltd., which is transferred to tax-free | reserve. The profit is struck after i providing £44,000 for taxation. The I unchanged ordinary dividend of 171 per cent, absorbs £194.950 and preference payments £21,500, while £51,472 is transferred to general reserve, and £5,000 is appropriated to New South Wales charities. The directors’ report states that affairs have progressed favourably, including new stores which were I opened during the year, and all | branches and subsidiaries are operat- ( ing successfully. General reserve i now stands at £451,881, which is usee entirely in the business. |