AUSTIN MOTOR CO.

New Zealand Herald, Volume LXXI, Issue 21949, 5 November 1934, Page 5

AUSTIN MOTOR CO.

SEVERAL RECORDS MADE DIVIDEND 100 PER CENT The accounts of the Austin Motor Company, Limited, England, for the year ended July 31 established several records. Cross profit was £.'51(5,772 higher at £1,505,212, and after deducting directors' fees, depreciation and maintenance and debenture interest, there was a net balance of £821,280, or £18!). 182 more than a year ago.

A sum of £300,000, nn increase of £200,000, i\as allocated to reserve and £50,000, as against £70,390, was placed to capital reserve. As already announced in the HiotAi.n on September 20, the distribution on the ordinary shares was maintained at 100 per cent, including a cash bonus ol 75 per cent. Dividends, including payment on the preference and preferred shares, together absorbed £305,841, leaving £302,033 to be carried forward, an increase of £5136.

The directors also proposed to appropriate £-150,000 from reserves to bo issued to ordinary shareholders as fully paid ordinary shares, and also to issue 100,000 ordinary shares of 5s each at a price of 10s, half for subscription by the directors and half by employees. Dividends in 1032 and 1933 were at the rate of 50 per cent, and 100 per cent, respectively. The report stated that a record number of ears, vans and chassis was sold, and there was an increase in the value of sales over Ihe previous year ol home market 21 per cent, export 16 per cent.

MOSGIEL WOOLLEN SATISFACTORY YEAR DIVIDEND OF 10 PIER CENT [BY TKLECKAI'II —I .tI'.SS ASSOCIATION] DUNE DIN. Sunday The annual report of the Mosgiel Woollen Factory Company, Limited, states thai after payment of the interim dividend in April, absorbing £3815, providing £IOOO for depreciation. and transferring £2OOO to reserve, a balanee remains of £17,201. The directors recommend paying a final dividend of -I per cent, and a bonus of 2 per cent, absorbing £5723, making 10 per cent for the year. After the payment of th is dividend, £11,178 remains to be carried forward. Following is a comparison of the company's results and appropriations for the last three years:— 1932 1033 1034 Brought forward £9,759 £IO,O l(j £10,813 ♦Net profit .. 11.825 12,305 12.203 £21.581 £22,351 £23.016 To reserve . . 2.000 2.000 2.000 Dividend. 10 p.c. 9.538 9.538 9.538 Carried forward £10,040 £10.513 £11,478 "After providing £SOOO for depreciation in 1932 and 1033, and £-1000 in 1934. The dividend distribution is 10 per cent for the 11th year in succession. In addition, in 1927 a cash bonus of 10s a share, equal to 12.} per cent, was paid from reserves. Another cash bonus, of 7s (id a share, equal to 9 2-3 per cent, was paid last year to commemorate the diamond jubilee of the company. The paid capital of the eoinpany is £95,.150 in 23,845 shares of £5 each paid to £l.

PROBLEM OF MONEY EMPIRE CURRENCIES QUESTION OF UNIFORMITY Australia and New Zealand followed the example of Great Britain in abandoning the gold standard, but their currencies have remained at a depreciated level in comparison with the English pound, comments the Chamber oi Commerce Journal. London. Both are gold producers but, of , course, to a much smaller extent that South Africa, for they depend more upon agriculture, and exporters of wool and farm products consider that a currency depreciated in relation to sterling and gold acts as a bounty upon exports. Both Australia and New Zealand arc probably justified in their policy, but in view of the great diminution in world trade in recent years and the greater necessity, in consequence, of developing trade within the British Empire it is perhaps a pity that it has not been possible to establish a uniform currency for the various countries of the Empire, or, rather, one that is mteichangeable on equal terms of value. Jn such "a scheme Canada would probably represent a difficulty because of the close business and financial relations of that Dominion with America, for this means a close approximation of the sterling value of the Canadian dollar and that of the American unit.

SYDNEY STOCK EXCHANGE SATURDAY'S BUSINESS SYDNEY, Nov. 3 Sales on the Sydney Stock Exchange to-day included:—-Common-wealth bonds—32 per cent, 1912, £lO5 15s; J per cent, 1938, £lO6 12s (3d; ]941, £lO7 15s; 1914. £lO7 12s (3d; 1955, £ll2 ss; 1961, £lll ss. Associated' Now s, 25s (3d: British Tobacco. 425; Broken Hill Proprietary, 50s 9d; Colonial Sugar, £77 ss.

GOLD AND SILVER

QUOTATIONS IN LONDON

(Received November 4. 5.5 p.m.) LONDON'. Nov. 3

Fine gold is quoted to-day at £6 19s l.Od an oz., compared with £'3 19s 9d yesterday and £6 19s lOd on Thursday. Silver was quoted yesterday at an oz. spot, and 23;; d forward, compared with 23j(d and 23 7-lGd on October 31. The quotation for silver at per lino oz. yesterday was 25J>d. compared with 25 2d on Thursday.

PRICES OF METALS

AN EASIER TENDENCY LONDON, Nov. :i Following were yesterday's quotations on the London metal market, compared with those of November 1: Nov. 2 Nov. 1 Per ton pel- ton .£' s d .£ s d Copper, stall., spot . . 27 0 3 27 (1 U Copper, stall.. :! mos. 27 11 105 27 11 1/ij •Copper, electrolytic. . 30 0 0 30 0 0 to to 30 15 0 31 0 0 Copper, elec., wne bars 30 15 0 31 0 0 Lead, soft., spot . . 10 0 3 10 10 0 Lead. soft, forward . . 10 12 li 10 15 0 Spelter, spot . . . . 12 (5 3 12 11 3 Spelter, forward . . 12 11 3 12 lb 3 Tin, stall., spot . . 229 I 3 229 3 9 Tin, siau., 3 mos. .. 228 11 3 228 11 3 'American, 9 cent 3 a lb. Quotations for other metals, with last week's prices in parentheses, are: — Pig iron: Home trade, £3 7s '3d (£3 7s 6d); export, £3 2s 6d (£3 2s (3d). Antimony: British, L' 49 10s (£49 10s>; foreign, £4O 15s (£36 10s"). Molybdenite, £1 14s (3d (£1 14s 6>d) a unit. Wolfram, £2 (£:2 Is) a unit.