TAUPIRI COAL MINES.

New Zealand Herald, Volume LXVI, Issue 20243, 1 May 1929, Page 11

TAUPIRI COAL MINES.

YEAR'S PROFIT OF £16,376.

DIVIDEND OF ;10 PER CENT, The thirtieth annual report of Taupiri Coal Mines, Limited, states that the ,pro« fit for the year ended March 31, after making allowance for depreciation, amounts to £16,376, to which must be added £9025 brought fonvard from, last year, making a total o< £25,401. The profit in the previous year, after allowing for depreciation, was £18,566, in 1926-27 it was £16,949, and in 1925-26, £13,036. Preference share dividends amounting to £I6OO and an interim dividend, of £6050, representing Is a .share on ordinary shares, have been paid—a total of £7650, the same as in the previous year. The balance to be dealt- with, £17,752, it is recommended should be appropriated as follows:—To pay ftn&l dividend of Is a share, £6050; to transfer to dividend equalisation. account, £1000; to carry forward to next year's account. £10,702. Following is a comparison of the company's results and appropriations for the past three years:— 19213-27. 1927-28. 1928-29. Brought forward £2,909 £i;.158 £ 9,025 Net profits .. . . 16,949 18,51)6 36,';7S , £19,853 £ 23,724 Dividends— Pref., 8 p.c. .. £1,600 .£I,OOO £1.600 Ord., 10 p.c. . . 112,100 12,100 12,100 Reserve . . . . .1,000 1.000 Dividend equalisation - 1,000 Carried i'orw&rd .. £ 5,153 £ 9.025 £ 10,702 The, reserve account is not being added to this year, but a dividend equalisation account has been sterted with £IOOO. The capitalisation of the company remains unchanged. The accident reserve fund now stands at £II,OOO, and assets total £178,036, compared with £177,108 last year. New Zealand War Loan . investments have increased from £32,051 to £54,871.

The Hon. E. W. Alison and Mr.-George Winstone, the retiring directors, offer themselves for re-election at tho annual meeting, which will be held on May 15.