PASTORAL YEAR

New Zealand Herald, Volume LXXV, Issue 23191, 10 November 1938, Page 7

PASTORAL YEAR

ABRAHAM AND WILLIAMS NET EARNINGS TOTAL £9845 ORDINARY DIVIDEND 7 PER CENT The first accounts of Abraham and Williams, Limited, presented since the capital adjustment carried out in December, 1937, show a net profit of £.9845 for the year ended September 30. The profit is struck after providing for debenture interest and land and income tax and compares with £16,663 struck in 1937 after paying taxation only. The amount brought in makes £29,114 available. An interim dividend of 2J per cent absorbed £2207 and a final dividend of 4i per cent, making 7 per cent for the year, will require £3972, leaving £22,935 to bo carried forward. Results for the past three years compare as follows: — 1030 1037 1038 Brt. forward £11,128 £15,105 £10,200 Not profit .. 14,535 10,003 0,815t £25,003 £31,858 £20,114 Dividends— Pref., 5 p.c. 4,101 4,101 t Ord. 3 4 7 Amount . 0,307 8,488 0,170 Car. forward £15,105 £10,200 £22,935 tAfler providing for debenture interest. tUnder the capital readjustment scheme carried out during the year each £5 share, whether preference or ordinary, was converted into three ordinary shares of 10s and £3 10s of perpetual debenture stock carrying interest at £5 per cent. There are now no preference shares. Balance-sheet movements are as follows: LIABILITIES Variation £ £ Capital .. .. 204,240 Samo Redeemable debentures 2,500 +2.50(1 Reserve . . .. 8,325 Same Taxes & contingencies 23,320 -3,510 Staff pensions . .. 14,253 +1,403 Creditors, dep'tors, etc. 105,050 -5,047 Bank 31,844 -2,001 P. and L. account .. 20,007 +15.022 ASSETS •Freehold land & prem. 50,205 +1 140 Plant, etc 200 -305 •Motor-cars .. .. \ 5,083 -450 Stock 10,337 -2,527 Advances .. .. 370,080 +70!) Debtors . . . . 13,370 +0,350 •Shares . .. .. 4,710 -50 Cash .. .. .. 1,010 +1,040 *At cost less depreciation. The capital of the company now comprises 176,044 ordinary shares of 10s each and £205,968 perpetual'o per cent debenture stock, ranking for payment after all creditors. By the change the directors expected that some £6OOO would bo saved in income tax, sufficient to pay the dividend of 7 per cent on the ordinary capital. Total balancesheet figures in the latest accounts are £9593 higher at £507,332.

MELBOURNE NEWSPAPER BONUS ADDED TO DIVIDEND MELBOURNE, Nov. 9 The profit earned by the Herald and Weekly Times, Limited, for the year ended September .'SO, amounted to £252,000, compared with £218,000 in the previous year, and £185.500 in 1935-36. Ordinary shareholders will receivo 12 per cent dividend and 2 per cent bonus, compared with 12 per cent dividend last year. DEBENTURES AND SHARES QUOTATIONS IN LONDON LONDON, Nov. S Sales of debentures and shares on the London Stock Exchange to-day included the following, the prices on October 25 being given for comparison:— Oct. 25 Nov. 8 £sd £ s d Dalgety (4 p.c. deb.) 96 10 O 96 O 0 British Tobacco . . 117 0 117 0 Goldsbrough-Mort . 1 1 3* 1 1 3* Dalgety .. 6 5 0* 5 15 0* P. and O. (def.) .. 116 13 3 ♦Nominal.

GOLD AND SILVER QUOTATIONS IN LONDON LONDON. Nov. 8 Fine gold is quoted to-day at £7 5s Hid an oz., compared with £7 6s IJd yesterday. Silver is quoted at 19 0-16 d nil oz. spot and 19 5-16(1 forward, same as yesterday. The quotation for silver at per fine oz. is 21 id, same as yesterday. PRICES OF METALS TIN AND COPPER FIRME& LONDON, Nov. 8 Following are to-day's quotations on the London metal market, compared with those of November 7: Nov. 8 Nov. 7 Per Ton Per Ton £ s d £ s (I Copper, stan., spot 4(i a 9 45 1(1 10% Copper, stan., 3 nios. -10 8 1 % 40 1 10% Copper, electrolytic 51 15 0 51 15 0 to to 52 15 0 52 15 0 Copper, elect., wire bars .. .52 15 O 52 15 0 Lead, soft, spot . 1(3 8 V/ 2 15 19 <l% Lead, soft, forward 10 0 10V, 10 -1 11/,I 1 /, Spelter, spot .. 14 15 o 14 11 10% Spelter, forward . 14 10 10% 14 10 10% Tin, stan., spot .212 7 0 212 5 0 Tin, stan., 3 mos. 213 G 3 213 "J G

PRIVATE COMPANIES AUCKLAND REGISTRATIONS The following, private companies have been registered in Auckland:— Kirk's Garage (Te Awaniutu), Limited, motor dealers and importers. Capital, £2OOO in shares of £1 each. Subscribers: \V. R. Baird, W. -E. Kirk. 999 shares each; R. McCaw, G. W. Wright, one each, James • Macneill and Company, Limited, Importers, exporters and warehousemen. Capital, £I2OO in shares of £1 each. Subscribers: S. F. J. Burrowes, 550 shares; J. A. Macneill, 450; A. M. Macneill, 200. R and T Investments, Limited, general merchants, importers and exporters. Capital, €SOOO in shares of £1 each. Subscribers: Hobinson's Loan and Finance Company, Limited. and A. Turner, 2500 shares each. Chas. Barnard and Son. Limited, chemists and druggists. Capital, £IOOO in shares of £1 each. Subscribers: C. Barnard, 606 shares; B. C. Barnard, 334. Coventry Motors, Limited, motor dealers and importers. Capital, £5()00 divided into 4700 ordinary shares of £1 each and 300, preference shares of £1 each. Subscribers: C. L. Urquhart, 4700 ordinary shares; C. T. Robinson. 300 preferenco shares. TRUSTEES, EXECUTORS, CO. [BY TELEGRAPH —PRESS ASSOCIATION] DUNEDIN, Wednesday The Trustees, Executors and Agency Company of New Zealand, Limited, has declared an interim dividend of 3 per cent, payable on November 10. Last year there was an interim distribution on the basis of 8 per cent per annum, but since then the paidup value of shares has been raised from £2 to £3 by a distribution from reserves.

EGG PRICES ADVANCED The Auckland Eg s Marketing Committee announced that wholesale egg prices are advanced 2d a dozen. Quotations: —Hen: First grade, Is 6Jd a dozen; B, Is 5Jd. Duck: First grade, Is 6{d a dozen; li. Is 5Jd. Country storekeepers' minimum buying prices for first grade eggs are:—Hen, Is 2d a dozen. J)uck, Is 2d..