SUBSTANTIAL DIVIDEND

New Zealand Herald, Volume LXXI, Issue 21716, 3 February 1934, Page 7

SUBSTANTIAL DIVIDEND

SOUTHLAND FROZEN MEAT PAYMENT OF 38£ PER CENT LARGE INCREASE IN PROFIT [BY TELEGRAPH —PRESS ASSOCIATION] INVERCARGILL, Friday The accounts of the Southland Frozen Meat Company for the year ended December 31 show a profit of £51,085. After payment of an interim dividend of 6 per cent, absorbing £6813, £23,848 is brought forward, making £74,933 available for appropriation. The directors recommend the payment of a dividend of 7i per cent and a special bonus of 5s on £1 shares and 2s 6d on 10s shares. The dividend and bonus require £36,903, leaving £38,030 to be carried forward. Net profit at £51,085 compares with £14,522 earned in 1932, and £14,363 in the previous year. The dividend and bonus for the year equal a distribution of 38$ per cent. In 1932 and 1931 12 per cent was paid, in 1930 11 per' cent, and in the previous two years 12 per cent. The company has a paid capital of £113,547 in 26,160 £1 preference shares and 64,884 ordinary shares of £1 each fully paid, and 45,006 £1 ordinary shares, paid to 10s, LONDON WOOL SALES BRISK COMPETITION YORKSHIRE MORE ACTIVE LONDON, Feb. 1 At the London wool sales to-day 6632 bales were offered, including 2352 from New Zealand, and 5468 were sold. There was brisk Continental competition. Bradford buyers were more in evidence and prices generally were steady. New Zealand clips sold as follows: — Scoured Merinos, "Oxford," top price, 30d; average, 29|d. Greasy crossbred, "Weber," 16d and 13|d. AUSTRALIAN AUCTIONS *- NEW RECORDS ESTABLISHED MELBOURNE. Feb. 2 At the wool sales at Gcelong to-day comeback wool made to 34Jd, beating the Australian record of 34d. At the Brisbane sales greasy Merino sold to 27|d —a record for the Brisbane season—scoured to 49d —a record for the Australian season and the highest reached since 1927-28. BRADFORD TOPS HIGH RATES CHECK SALES LONDON. Feb. 1 On the Bradford tops market Merinos are steadier but business is difficult at the quoted rates. Crossbreds are barely steady. Following are to-day's quotations and those for the thrco previous weeks:— Jan. 11 'Jan. 18 Jan. 25 Feb. 1 Per lb. Per lb. Per lb. Per lb. d d d d Seventies .. 44 43' A 42% 4lVa Sixty-fours .. 43 42 41 40/j Sixties .. 40 40 39 38 Fifty-sixes .. 30 30 30 29% Fifties .. 23 23 22'/, 22 Forty-sixes .. 16% 16% 16 16 Forties .. 13 13 12% 12% SHEEPSKIN SALES ADVANCES IN LONDON LONDON, Feb. 1 At the London sheepskin sales to-day 4590 bales were offered, including 2665 from New Zealand. There was a largo attendance of Home, Continental and United States buyers, with keen general competition. All offerings were sold at advanced prices. Australian Merino combings were 15 per cent up, clothing 20 per cent to 25 per cent, fine crossbred clothing 20 per cent, New Zealand crossbred fine combing 10 per centj medium and coarse 5 per cent, clothing fine lambs 10 to 15 per cent. EXPORT OF TIMBER WEST COAST SHIPMENTS Last year the timber trade between the West Coast and Australia accounted for less than 2,000,000 ft.. from New Zealand, but it is hoped that this year the export will exceed 5,000,000 ft., according to a statement made this week by officials of tho West Coast Sawmillers' Association. At a conference held last week it was decided that the association should control and develop the export trade in rimu through ono channel. COMPANY AFFAIRS SOUTHERN REGISTRATIONS The following private company has boon registered in Christchurch: — Wilson, Smellic, Limited, to acquire plant, fittings and stock, etc., of E. D. Johnson, and to carry on business of general clothiers, drapers, manufacturers, etc. Capital, £SOOO in shares of £1 each. Subscribers: W. Stnellie, 2000 shares; J. F. Smellie, 1000; 11. Wilson, 2000. The following public company has been registered in Wellington:—Rotary Knit-Weave Looms, Limited, to apply for and acquire any patents, brevets d'invention, licences, etc., in relation to a rotary knitting machine, and general incidental. Capital, C4OOO in 4000 fully-paid up vendors' shares of 10s each and 4000 contributing shares of 10s each. Subscribers: Wellington: J. Wilkie, 5 shares; E. Manay, 30; J. P. McConnille, 1. Featherston; It. D. Smith, 11; G. S. Sharp, I; F. C. Yule, 1.0; Dorothy M. McKce, 1, all contributing shares. INCREASE OF CAPITAL , Mount Campbell Gold Mining Company, Limited, Auckland. —Capital increased to £12,000 by creation of 5000 new shares of £1 each. Speedway Steam Products, Limited. Auckland.—-Capital increased to £1547 by creation of 100 now shares of £1 eac.L. REDUCTION OF CAPITAL Johnson Garnctt, Limited, Auckland. —Capital reduced to £25,000 in shares of £1 each. COMPANY WINDING-UP Timber Products, Limited, Auckland. —G. L. Gladding,- Auckland, public accountant, liquidator. QUOTATIONS FOR SILVER (Received February 2. 7.35 p.m.) LONDON, Feb. 1 Silver is qudted to-day at 19 7-16 d an ounce spot and forward, compared with 19id both positions yesterday. The quotation for silver at per fine ounce is 21d, compared with 21 l-16d yesterday.