HIGH TAXATION

New Zealand Herald, Volume LXXIII, Issue 22517, 7 September 1936, Page 5

HIGH TAXATION

C. L. INNES' PAYMENT ONE-THIRD OF CAPITAL [from our own correspondent] HAMILTON, Saturday "Very satisfactory results haye boon obtained during the year, notwithstanding tho adverse weather conditions and tho excessive taxation that has had to bo provided for," said Mr. A. Martin, chairman of directors of C. L. Innes and Company, Limited, at tho annual meeting held in Hamilton last evening. Mr. Martin said that there had been considerable development on tho part of the company during the year. A branch had been established at Whangarei, and new and up-to-date machinery had been installed. Laboursaving devices had been adopted to offset tho shorter hours required by recent legislation. Mr. Martin said that during the year the company had -paid £II,OOO in direct taxation on a capital of £31,000 and a gross profit of £13,000. Unsatisfactory conditions had obtained with regard to trade with hdtels, as most of these businesses were owned and controlled under management, which meant that, notwithstanding the merit of a company's product, the possibilities of doing business through this medium were very restricted. It was hoped, however, that now legislation would alter the position, giving all producers an equal opportunity of transacting business. SYDNEY STOCK EXCHANGE SATURDAY'S BUSINESS SYDNEY, Sept. 5 Sales on tho Sydney Stock Exchange to-day included: £ B rl Anthony Hordern .. •• 018 7% Puiilop-rerdriau .. .. 018 4/ a Electrolytic Zinc .. .. - 1 O O.J.Coles .. .. 40 0 James Stedman .. • • 019 0 Coin mon weal tli Bonds. —1942, 3% per cent, £lOl 2s (id; J per cents, 1941, £lO2 1/s bd; ISI6I, £lO2 10s. BRITISH WAR LOAN British Wireless RUGBY, Sept. 4 War loan, 3£ per cent, is quoted todav at £lO7 6s 3d, compared with £lO7 ss' yesterday. MINING SHARES IN LONDON LONDON, Sept. 4 On the mining market to-day Mount Lyells sold at 22s 6d and New Guinea gold at 3s lQid.