NORTH BROKEN HILL

New Zealand Herald, Volume LXXIII, Issue 22539, 2 October 1936, Page 7

NORTH BROKEN HILL

IMPROVEMENT IN RESULTS MARKED PROFIT INCREASE [BY TELEGRATH —PRESS ASSOCIATION] WELLINGTON, Thursday North Broken Hill, Limited, Melbourne, has advised the Stock Exchange Association that the audit of the accounts for the year ended June 30, 1936, has been completed. Tho directors have authorised the advance announcement of tho year's financial results. The net profit, after providing for depreciation, taxation and royalties, amounted to £030.910. The profit compares with £390.683 last year and £273.354 in 1934. Dividend payments totalling 15s 6d a £1 share, or 77J per cent, were paid last year.

CHRISTCHURCH DRAPERY HAYS' LARGER PROFIT INCREASE IN DIVIDEND The accounts of Hays, Limited, a comparatively new drapery company in Christchurch, show an increase in net profit of £903 to £2935 for the year ended August 19. The dividend for the year is to be raised from 5 to 6 per cent. The transfer to income, tax reserve is increased from £3OO to £525 this year and the item of preliminary expenses, which stood at £245 in last year's accounts, has disappeared. The dividend absorbs £1778, leaving £2155 to be carried forward, as against £1523 brought into the accounts. Tho directors state that sustained progress was the outstanding feature of tho year's operations. Turnover had again been substantially increased, and notable developments had taken place in various directions. Steps were taken during the latter portion of tho year to increase the capital of the company to £50,000, of which 10,000 shares were issued. The whole of tho new share capital was taken up. On those shares tho full year's dividend was payable. The satisfactory trading results disclosed were achieved in spite of the added expenditure on extensive alterations and increased capital commitments, the full benefit of which it was hoped would be reflected in the coming year's trading. The company was formerly a subsidiary of Macky, Logan, Caldwell, Limited, but in November, 1933, it was sold by the liquidators to a group of Christchurch business men, who floated a public company. SHORT LOANS AND BILLS LONDON DISCOUNT RATES LONDON, Sept. 30 Discount and short loan rates on the London market compared with those for last week aro as follows: Sept. 23 Sept. 30 p.C. p.C. Day-to-day loans . . l / a 3 ,i Fine trade bills (3 nios.) 2to 2'/ a 2to 2'/j Dunk bills (3 months) °i„ Punk bills ((( months) % % Treasury bills (2 nios.) l / 3 Vi Treasury bills (3 mos.) % Vi GOLD AND SILVER QUOTATIONS IN LONDON (Received October 1, 7.35 p.m.) LONDON, Sept. 3u Fine gold is quoted to-ilav at £7 0s 2d an oz., compared with £< 0s 7d yesterday. Silver is quoted at 19Jd an oz., spot and forward, compared with 19 15-16(1 both positions yesterday. SALES OF BAR GOLD LONDON TR ANS ACTIONS British Wireless ItUfißY, Sept. 3<> About 408 bars of gold, of an approximate value of £1,150,000, were disposed of in London to-clay at £7 Os 2d a fine ounce.