ROBINSON ICE YEAR

New Zealand Herald, Volume LXXV, Issue 23055, 4 June 1938, Page 9

ROBINSON ICE YEAR

RISE IN PROFITS DIVIDEND RATE INCREASED PROPERTIES WRITTEN DOWN A net profit of £5480, an increase of £1921, is shown in tho accounts of tho Robinson , Ice Cream Company, Limited, for the year ended April 30. Tho profit is struck after providing £5196 for depreciation and £3216 to meet income tax. The directors recommend a dividend of 8 per cent per annum, against 6 per cent in the previous year. The company's dividend has never fallen below 6 per cent. The report states that during the year new machinery was installed and another branch depot, established at Whangarei. The electrifying of the city service had been systematically extended and no recourse to the appropriation account balance was found necessary. The city property had been written down by a further £SOOO in accordance with the directors' policy of consolidating the company's assets. The retiring directors, Messrs. J. Sayegh and J. McGregor, are offering themselves for re-election. No other nominations have been received. Itesults for the past three years compare as follows: 1930 1937 1938 Brought forward £4,413 £5,826 *£1,975 Net profit .. 3,773 3.559 5,480 ~ , , £B,IBO £9,385 £7,455 Dividend p.c. p.a. 6 6 8 Amount .. 2,100 ' 2,100 2,880 Directors' fees . . 200 250 Carried forward £5,820 £6,975 t£4,575 *After providing £SOOO special depreciation written off city property. tSubject to deduction for directors' fees. Balance-sheet movements are as follows: LIABILITIES £ £ - Capital . . . . 36,000 same Creditors . . . . 1,306 +621 Income tax (est.) .. 3,334 +2,084 P. and L. account 7,455 -1.930 ASSETS £ £ Land and buildings 11,523 -5,367 Plant, etc .. .. 16,342 -593 Automatic cabinets 12,235 +2,737 Stock . . . . 596 - 82 Debtors .. .. 1,206 +296 Bank . . . . 6,194 +3,785 The balance-sheet total is £775 higher at £48,096. BUTTER EASIER LONDON MARKET QUIET DECLINE OF 3/- ON WEEK HIGHER PRICES FOR DANISH Quiet conditions persist on the London market for butter, and the latest quotations for choicest salted New Zealand show a decline of approximately 3s per cwt. on the week. The current rate for salted is around 1225. Last week New Zealand butter was selling above Danish, but the latter butter is now selling 2s higher than New Zealand. A Press Association message from London on Thursday states that butter is quiet.; Danish is quoted at 124s per cwt.; choicest salted New Zealand, 1225; Australian, 119s to 120s;' unsalted New Zealand, 1245; Australian, 1225. Cheese: New Zealand, white and coloured, 70s; Australian, 68s 6d. Recent quotations and those of a year ago are as follows: — June 3 May 27 May 6 June 4 Butter— 1938 1938 1938 1937 ! New Zealand 122/- 125/- 129/- 110/Australian . 119/6 122/- 128/- 109/Danish .. 124/- 124/- 128/6 112/Cheese—N.Z.: White . . 70/- 70/- 68/6 7-1/6 Coloured • • 70/- 70/- 69/- 74/Cahadian: White 78/- 77/6 77/6 78/Coloured .. 78/- 78/- 77/6 7</6 The basic rates fixed under the New Zealand guaranteed price scheme, subject to quality differentials, are 123s 8d for butter and 70s 4Jd for cheese per cwt., f.0.b.. New Zealand currency. The equivalent landed price for butter in London is 112s and for cheese 675. The guaranteed price for butter is equal to 13.25 d per lb. ,■ f.0.b., and the current London quotation is equal to 14.56 d, New Zealand ports. The equivalent price for cheese is around 7,94 d per lb., f.0.b., compared with the guaranteed price of 7.54 d. A. S. Paterson and Company, Limited, quote:—Butter: The market is quiet. New Zealand, 123s per cwt.; Australian, 119s; Danish, Cheese: The market is steady. New Zealand, white and coloured, 70s per cwt.* PRICES OF METALS SHARP RISE IN TIN LONDON. June 2 Following are to-day's quotations on the London metal market, compared with those of June 1: — June 2 June 1 i Per ton Per ton £ s (1 £ s d Copper, stun., spot 33 19 4% 32 19 4% Copper, stan., 3 mos. 34 3 0 33 4 4% Copper, electrolytic 37 15 0 37 5 0 to to i 38 15 0 38 0 0 Copper, elect., wire bars . . . 33 15 0 38 0 0 Lead, soft; spot .. 13 11 3 13 6 10% Lead, soft, forward 13 14 4% 13 9 4% Spelter, spot .. 12 6 1.0% 1118 9 Spelter, forward . . 12 10 7% 12 3 1% Tin, stan., spot .. 167 17 6 163 2 6 Tin. stan., 3 mos. 168 7 ft 163 17 <i BRADFORD MARKET BUSINESS UNSATISFACTORY LONDON, June 2 Prices on the Bradford market art* easier and business is very unsatisfactory. Buvors are reluctant to purchase more than is absolutely necessary. Following are to-day's quotations and those of recent weeks: — May 12 May 19 May 26 Juno 2 per lb. per lb. per lb. per lb. d d d d Seventies .. 27% 27% 27% 27 Sixty-fours .. 20 26 26 25A Sixties .. 25 25 25 24% Fifty-eights . 22 22 22 21% Fiftv-sixes .. 20 20 20 19% Fifties .. 17% 17% 17% 17 Forty-sixes .. *l7 *l7 *l7 *lO% Forties .. *l7 *l7 *l7 *16% •Nominal. STATISTICS OF TIM LONDON, June 2 The world statistical position of tin at the end of May compares with that of recent months as follows: Feb. Mar. * April May World visible Tons Tons Tons Tons supplies . 16,402 18,037 10,041 18,059 Straits' carryover . . 4,650 6,409 6,279 5,600 Supplies received . 7,926 9,64 9 9,439 7,997 Deliveries . 8,355 8,0.14 8,435 8.979 STOCKS OF RUBBER LONDON, June 2 Stocks of rubber at the end of May as compared with recent months were:— Feb. Mar. April May Tons. Tops Tons Tons Londoii .. 46,464 50,389 Liverpool . 24,761 26,199 28,352 29,220