ROBINSON ICE CREAM

New Zealand Herald, Volume LXX, Issue 21507, 2 June 1933, Page 5

ROBINSON ICE CREAM

SHARP FALL IN PROFITS DIVIDEND OF 6 PER CENT Accounts of the Robinson Ice Cream Company, Limited, for the year ended April 30, disclose a net profit of £'B4l. compared with £303-1 in tha previous year. There is a reduction in gross profit from £10,486 to £"407. The directors recommend a dividend of 6 per cent, against 8 per cent in the past two years and 10 per cent in 1930. The directors make no reference to appropriation for the dividend, which will absorb £2160. The sum of £763 is available for distribution, net profit for the year being reduced to this amount by a debit balance of £7B brought, forward. Reserves aro unchanged at £5063. The retiring directors are Messrs. T. X. Baxter and T. Baster, who are seeking re-election. Paid capital remains at £36,000. Assets are £3563 lower at £12,227. There is a reduction of £624 to £21,395 in land, building and plant. Stocks at £834 show an increase of £263. Sundry debtors are £298 lower at £B6B, and cash at bank and accrued interest is £939 lower at £5971. SECURITY FINANCE CO. PREFERENCE DIVIDEND LOWER

Reduced profits disclosed by the Security Finance and Guarantee Corporation Company, Limited, of Auckland, in its second annual report for tho year ended March 31, did not permit the declaration of a dividend on ordinary shares for the year and also necessitated a reduction of 1 per cent in the preference dividend, after the statutory reduction of 20 per cent was taken into account. Preference shareholders received an interim dividend of £3 4s per cent and the directors recommend the payment of a final dividend of £2 4s per cent, making a total of £o 8s per cent on their holdings. The balance of 1 per cent is to be paid as soon as profits are available. The report adds that the year was one of extreme difficulty for the company, which in common with other finanical institutions was affected partly by the times and partly by changes in legislation causing unexpected interference with contracts and a general fall in interest. Notwithstanding these conditions and the policy of not treating as income any profits on investments made which were not actually in hand, the company earned a reasonable profit. No accounts aro issued with the report. The report and balance-sheet were adopted at the annual meeting this week. The final preference dividend was approved for immediate payment. Mr. G. W. Thorpe, the retiring director, was re-elected. No ordinary dividend was paid in the first year of operation, when preference shareholders received 8 per cent. At the end of the first year the company took over the bulk of the assets of the Security Trust and Investment Company, Limited.

BUILDING SOCIETY'S YEAR

GOOD RESULTS IN SOUTHLAND [BT TELEGRAPH —PEES 9 ASSOCIATION! INVERCARGILL. Thursday Not-withstanding the economic blizzard that had been raging, the directors were able to submit a wonderfully good and cheery report, stated the president of the Southland Building and Investment Society, Mr. A. S. Froggatt, at tho annual meeting last evening. Deposits, .he said, had increased by £63,521. Profits for the year were £46,775, and with the balance carried forward from last year made available £49,624, of which £3667 had been paid on matured shares, and on cancelled ones through readjustment. The sum of £41,570 had been credited to shareholders, making a total of £45,238. The reserve fund had been brought up to £29,000, which was profit-earning. The result to shareholders was a dividend of 5J per cent per annum. Approximately £62,000 would be available in the morning for matured shares, said Mr. Froggatt. ROMNEY MARSH SHEEP DOMINION PERCENTAGE [by telegraph--press association] DUNEDIN, Thursday The annual meeting of the Dominion Romney Marsh Sheepbreeders' Association was held' last evening. Tho report showed that the total of the Romney sheep registered represented 44 per cent of tho stud sheep bred in the Dominion. Officers were elected as follows: — President, Mr. A. S. Holms (Waimahaka); vice-presidents, Sir William Perry (Masterton) and Mr. John Miller (Maungatua). GOLD AND SILVER QUOTATIONS IN LONDON (Received Juno 1, "-25 p.m.) LONDON, May 31 Fine gold is quoted to-day at £6 3s 10d, compared with £6 3s 8d yesterday. Silver is quoted at 19 l-16d an ounce spot and 19Ju forward, compared with IS 15-16 d and 19d yesterday. The quotation for silver at per fino ounce is 20 9-16 d compared with 20 7-lGd yesterday. THAMES WARDEN'S COURT fBY TKT.KOnArH —OWN CORK EPPON DENT") THAMES, Thursday In the Thames Warden's Court this morning Kiiranni Golden Hills, Ltd., objected to six months' protection being given to A. C. Wilkin for three special quartz claims in the Moanataiari area and to Julius Hogben for the Kiiranui Caledonian special quartz claim. Mr. E. J. Clendon appeared for both applicants. Mr. C. J. Garland, for tho company, asked that the protection, if given, should be the only protection. The Kuranui Company iound itself in reed of more ground, as its new plant was capable of handling a greater quantity of ore than anticipated. The warden granted protection, stating that any further applications would be considered on their merits. AUSTRALIAN PRODUCE (Received June 1. 7,15 p.m.) SYDNEY, June 1 Following are to-day's quotations on the Svdney produce market:-—Wheat: On sidings, country, bagged 2s (3Sd, bulk, 2s bid, equal to about 3s ( lid and 3s 2Jd on trucks Sydney Flour, £lO os. Pollard and Bran, £5. Potatoes: lasmanian. £5 10s to £fi 10s. Onions: \ ictorian Spanish, £6; globes, £o. Maize: Yellow and white, 4s 3d. Adelaide prices are: WheatGrowers' lots, 2s lid. Flour—Bakers lots, £8 15s. Bran and pollard, £5 2s 6d. Oats—Algerian, Is Pd. , PROPERTY SALES C. F. Bennett. Limited, will offer nt auction, at their rooms, corner Queen and Phovtland Streets, at noon <o-day. nineroomed hemae and garage, at 4'2 Uplana Kood, Remuera.