KAURI TIMBER CO.

New Zealand Herald, Volume LXXIII, Issue 22603, 16 December 1936, Page 9

KAURI TIMBER CO.

IMPROVKD TRADING PROFIT AGAIN HIGHER BALANCE-SHEET DETAILS Tho not. profit, of the Kauri Timber Company, Limited, Melbourne, ior the year ended August .'4l, alter providing for depreciation, amounted to £*12,10.'?, as compared with £•'!!),361 for the previous year. The amount brought ' or ~ ward was CIBOI, making £43,9(37 available. The unchanged dividend of 5 per cent, announced in the Hkrat.d on October .'sl, will absorb £'.'57,500. Tlio balance, £GI67, is to be carried forward. Following is a comparison of the company's results for the. past three years:— 1031 11)35 1030 £ £ £ Brought forward Net profit 'JI,3on 3!i,304 -1'.2,103 Div. equal fund 1,110 22,500 30,304 43,0(57 Dividend, p.c. . . 3 •"> 5 Amount . . 22,500 37,500 37,500 Carried forward The principal balance-sheet movements are as follows: LIABILITIES £ C Capital 750,000 Reserves. etc. .. 218,022 +4,nW» Sundry creditors, etc. 30,823 -0,410 ASSUTS £ £ _ Freehold properties 58,405 -12,507 Leasehold properties .. 45,037 -1 Plant etc. 115,581 -4,000 Stock .. -• 185,218 +24,020 Shares in other ro.'s ir>i,<ir»7 Govt, and other loans 281,378 Bank •• 22.207 +-M..42 The total of assets is £009,745, compared with £1,000,194.

AUSTRALIAN BUSINESS

IMPORTANCE OF WOOL HIGH NOVEMBER PRICES The most important factor in Australian business at present is the strength of the wool market and the rise in prices above tho satisfactory level of last year, states th-j National Bank of Australasia in its latest, monthly summary. The bank points out that tlio average price per lb. realised for greasy wool sold in November was the highest for that month in any year sinco 1028. The maintenance of a high price for wheat since July has been another favourable factor. Referring to secondary industry and internal commerce, tho bank states that trade has been somewhat irregular, notably in seasonal and fashion goods, However, the rise in prices of primary products, increases in industrial employment, additions to spending power due to higher wage scales, reductions in taxation, and increased earnings and dividend distributions of public companies have all assisted traders to maintain the volume and value of their sales. Tho deferred buying demand for motor-cars which stimulated their sales to high figures in the early months of tho year, appears to have been overtaken, but the monthly figures are still far above those for the corresponding portions of tho years 1931 to 1934.

SULPHIDE CORPORATION DIVIDEND RATE DOUBLED The accounts of Sulphide Corporation, Limited, London and Sydney, for tlio year ended June 30, disclose a net profit of £91,068, against £92,347 in the previous year. A preference dividend of 10 per cent requires £60,000. The ordinary dividend of 5 per cent, against 2J per cent in the previous year, requires £22,500. After placing £BOOO to contingencies reserve, there is £568 carried forward to accumulated profits account. GOLD AND SILVER QUOTATIONS IN LONDON (Received December 15, 6.5 p.m.) LONDON. Dec. I<l Fine gold is quoted to-day at £7 Is 9d an oz., compared with £7 Is lOd on Saturday. Silver is quoted at 21jjd an oz. spot and forward, compared with 21 3-16 d, both positions, on Saturday. The quotation for silver at per fine oz. is 23 l-16d, compared with 22 7-8 d on Friday.

The following is a summary of the fluctuation in the price per ounce of fine gold this year:— £ s d Highest price, November 8 . 7 2 8% Lowest price, September 23 . 6 17 2/ a December 7 . . ..721 December 8 . . ..71 0/ a December O .. ..710 December 10 . . ..7 2 0, 3 December 11. . . • • 7 1 0 December 12 • . . . • 7 110 December 14 . . ..710 PRICES OF METALS TIN SHOWS A DECLINE LONDON, Dec. 14 Following are to-dav's quotations on the London metal market, compared with those of December 11: Dec. 14 Dec. 11 Per Ton Per Ton £ s <1 £' s d Cop., slan., spot . . 45 2 (> 44 13 1% Cop., stall., 3 niOS. 45 9 4'/ a 44 10 4/a Copper, electro. . . 40 0 0 40 0 0 to to 4!) 15 0 40 10 0 Copper, elect., wire burs . . 49 15 0 40 10 0 Load, soft,, spot .. 25 15 0 24 12 6 Lead, soft, forward 25 15 0 24 12 0 Spelter, spot . . 17 15 0 Speller, forward . 18 1 3 .17 16 3 Tin, stan., spot 230 12 (i -34 7 6 Tin, slan., 3 inos - 230 12 6 -31 7 6 FIXED COAL PRICES POSSIBILITY IN AUSTRALIA It is considered certain that the selling price of coal in Australia will bo stabilised early in the new year on a basis of a Newcastle rate ot approximately 20s a ton for best quality, states the Sydney Morning Herald. Negotiations have advanced rapidly since the recent announcement that important interests in the industry were moving for stabilisation, and it is understood that when the principle or a declared selling price is reintroduced, after six years of price-cutting, it will be observed by all major coal-owning interests. , '"The industry cannot carry on by a policy of holding its markets by bookinn orders at prices lower than working costs," stated one Sydney coal merchant "The increase will not. bo a burden on coal consumers, who will still have the benefit of a reduction of more than 20 per cent on pre-de-prcssion rates. Hut it represents the difference between life and economic death at a not too distant date to many interests engaged in tlio industry.'''