COMMERCIAL.

Hawera Star, Volume XLVI, 13 December 1926, Page 9

COMMERCIAL.

DALGETY AND COMPANY. DIRECTORS’ ANNUAL REPORT. The directors of Dalgety and Co., in their forty-second annual report, refer to the undermentioned matters: — The profit and loss account shows that, after providing for bad and doubtful debts, current expenses, depreciation, debenture interest and taxation, the net profit for the year amounts to £295,047 15s 9d. After adding to this sum the balance brought forward from last year, and charging the twelve ninths’ dividend on. the preference share©! and the interim dividend on the ordinary share® paid last May, ther« remains at credit of general profit and loss account a balance of £436.412 7s 7d. which the directors recommend should be appropriated as follows£3o.ooo in payment of a final dividend on the ordinary shares, for the year - ended June 30 laist, of 3s per share, free of British income tax, making with the interim dividend as above To per cent, per annum, and £70,000 in payment of a bonus on the ordinary shares, for the year ended June 30 last, of 3s per -share, free of British income tax, being at the rate of 7 per cent, per annum; £50,000 to writing down cost of to the staff nrovident fund, £50,000 to bonus on salaries of overseas staff, making £225.000 in all, and leaving £211,412 7s 7d to be carried forward.

The early part of .the season caused rrrave anxietv in one or two States, but since then copious rains, have fallen, and in Victoria. New South Wales and South Australia the season is excellent. The central portion of Queensland has suffered from, a severe drought, and stock losses have been excessively heavv. Recent October thunderstorms, however, have given considerable relief, but more rain will be welcome presently. The West Australian- season improved very materially early m the financial year, but since then conditions have become patchy, and m parts rain would seem to be needed. In New Zealand conditions have been more or less unsatisfactory. The North Is'and. particularly, suffered from <1 roacht' and generally unfavourable weather. Prices for Dominion primary products show a decline, but wool has remained fairly stable, with to-day an upward tendency.

The wool position during the year disclosed no such violent fluctuations as distinguished it in the previous year, and' prices have been, steady, on a. payable basis. The incoming clip is lifcelv to he less than last season. Some of the States will show an increase, but the heavy 'esses of stock in Queensland will more than counteract this. A substantial increase over last year’s figures is anticipated in the wheat cron —the season having been particularly favourable to the cultivation of this cereal.