NEW ZEALAND PAPER MILLS.

New Zealand Herald, Volume LXIII, Issue 19321, 7 May 1926, Page 9

NEW ZEALAND PAPER MILLS.

DIVIDEND OP 74 PER CENT. [BY TEiECII A PH. —l' ItKSS ASSOCIATION.] DUNEDIN. Thursday. The directors of the Now Zealand Taper Mills recommend payment of a dividend of 4 per cent., making 7i per cent, for the year. THE ANTHONY HORf)ERN SALE. CAPITAL OF NEW COMPANY. The terms of the sale of the department store business of Anthony Horden and Sons, Ltd., agreed to by shareholders, show that the new company will have a share capital of £2,000,000, in addition to £1,000,000 of debentures. The latter are to carry interest at the rate of 7 per cent. The share capital will consist of £750,000 in IK per cent, cumulative preference shares of £1 each and £1,250,000 in ordinary shares of £1 each. Of the latter £IOO,OOO is to be subscribed in cash, and will form floating capital for the pew company, the annual debenture interest and preference dividend charge will total £126,250. The recent net profits of the company on a subscribed capital of £3.330,007 are reported to have been in the vicinity of £250,000 per annum. It is expected to maintain a dividend of 10 per cent. DENTAL AND MEDICAL SUPPLY CO DIVIDEND OF 6 PER CENT. The balance-sheet of the Dental and Medical Supply Co., Ltd., for the year ended March 31 shows a net profit of £3470, to which must be added £3ll brought forward, making available £3781. The. dividend for the year at 6 per cent, absorbs £3468, leaving £313 to bo carried forward. A "dividend of 5 per cent, was paid in 1924 and 1925. THE BRITISH COAL OUTPUT. EXPORTS FOR THREE YEARS. The coal output of the United Kingdom for the last three years has averaged about 260,000,000 tons, and the importance of it to Great Britain is disclosed by the following table of exports for the last three years to Continental countries:-—-r 1923. 192-1. 1925. Tons. Tons. Tons. Germany .. 32,841,305 5.910,253 3,288,410 France. .. 15,825,591 12,29-1,654 8,t>59,547 Belgium .. 5,474,511 2,660,062 2,171,103 Italy .. .. (>,519,997 5,509,908 5.631,878 Netherlands . 5,472,316 2,394,622 1,238,946 The reduction in the German demand arose from over-production in that country. Consequently coal was sold in markets at cut rates. The effect upon British coal was that the price in the United Kingdom in October, 1925, was 18s 4d a ton, against 21s 6«d a ton in the previous January. Germany is also delivering coal to France to pay reparations in kind. LONDON TALLOW SALES. Dalgetv and Company, Limited, report having received the following -cablegram from their London house dated May s: Owing to the strike there will 'be no public tallow sales this week. SYDNEY PRODUCE MARKETS. Australian and N.Z. Cable Association. (Reed. 11.35 p.m.) SYDNEY, May C. The wheat markets are stagnant. Quotations are fas 2d per bushel for bagged grain in Sydney; 5s 7d per bushel at country station. Oats.—Tasmania, while. 5s 6d to 5s 7d per bushel: Algerian, 4s 9d to ss. Maize. —New season's, yellow, 5s 9d per bushel; white,,ss 6d. Potatoes. —Tasmanians, £l2 10s to £l6 per ton; New Zealand, £ll to £l2. Onions.—Victorian, £2l per t-on; NewZealand, £l9. SYDNEY WOOL SALES. Australian and N.Z. Cable Association. (Reed. 11.35 p.m.) SYDNEY, May G. The week's wool sales have closed. There was a strong demand for finer sorts to-day, with a further weakening in other classes. Greasy Merino touched 30gd per lb. MELBOURNE HIDE MARKET. Australia# and N.Z. Cable Association. (Reed. 11.35 p.m.) MELBOURNE, May 6. There was a dull tone at the hides market to-day, particularly for light grades. Others maintained late rates.