COLONIAL SUGAR

New Zealand Herald, Volume LXXVIII, Issue 23969, 20 May 1941, Page 3

COLONIAL SUGAR

PROFIT SLIGHTLY LOWER DIVIDEND RATE UNCHANGED (Reed. 10.55 p.m.) SYDNEY, May. 10 " The Colonial Sugar Kefining Company, Limited, for the year ended March 31 reports a net profit of £1,054,331. It is proposed to pay a final dividend of 17s a share, to place £50,000 to reserve, and to carry forward £482,218. Earnings are £49.412 lower than the record profit of 1940, and are the third highest in the company's history. The interim dividend was also 17s a share, making, with the final 'payment, 8J ' per cent for the year, which is unchanged. Details for three years are: 1939 1 'MO . 1011 Brt. forward -131.:<74 40.5.144 472,387 Net profit.. 1,(Ml.*),(170 1,1015,743 1.(1.)4,331 1,440,(544 1,500,887 1,520,718 To reserve.. 100.000 loo.ouO 50,000 Dividend, p.c. ~\ 2 8y« Amount.. 877,500 05)4.500 804,.>00 Car. forward 4(53,144 472,3-7 482.218 The proposed transfer to reserve will increase that fund to £1,200,000. The capital of the company is £11,700,000.

BUILDING SOCIETY'S YEAR THE AUCKLAND TERMINATING Satisfaction with the results achieved during the past yea- under war conditions is expressed in the annual report of the Auckland Co-operative Terminating Building Society for the year ended March 31. Figures show a marked increase, both in income and net results. There has been no falling of! in - applications for loans, ami advances have kept pace with increasing: income. Appropriations for the year at £124,800 show an increase of £13,200 on the. previous financial year's sum. A total of £7344 was paid or credited to shareholders by way of profits during the year. The toial of the net profits for all groups shows an increase of over 35 per cent on the totfel for the previous year and the profits a share range from 4s lid in the newest group to £42 13s lid in the case of group 37. Undistributed profits now amount to £150,689, compared with £140,355 last year. As usual, ihero will be no charge on members for working expenses. The balance-sheet shows the amount to the credit of shareholders at £510,911, against " £496,827 last year. Accumulated profits, reserves and appropriations pending bring the balancing total to £736,885, compared with £692,556. Assets, including reserve fund, now stand at £741,299, an increase during the year of £44,615. Advances on mortgage total £591,257, against £578,153, and combined plan advances, £10,692, against £10,354. Cash items have risen to £66,385, compared with £46,519 a year ago. Ths report covers tlie activities of 51 groups, six of which, groups 30 to 35, are now in process of termination. Two new groups commenced operations during the financial year. Generous assistance has been given to shareholders serving with the armed forces

PRICES FOR SHEEPSKINS THE SCHEDULE ANNOUNCED [by TELEGRAPH —PRESS ASSOCIATION"] DUXEDIN, Monday The New Zealand sheepskin controller advises that tho following schedulo of prices for sheepskins will operate in the case o? green skins from May 21, and in the case of dry skins from Hay 31 (the prices refer to skins in brokers' stores).—Full wools: Halfbred, 9Vad to 10% d per lb; crossbred, S/id to 9/id. Three-quarter wools: Halfbred, S'ld to Od; crossbred, 7-',;d lo ikl. Half wools: Halfbred. G%d to ~Yj\; crossbred, d to 7d. Quarter wools: Halfbred. -I'-jd to crossbred, -iy A d to 4 3 id. Pelts: ;.d to- S'-id. Ho?-sret-s: Halfbred, tS'id to 10d; crossbred, 7'ld to S'-<d. Lambs: Halfbred,- O'jd to 10;. id; crossbred, S%d to 9^d.

GRAIN AND PRODUCE BOOKINGS OF BARLEY The following; is the official market report of the Auckland Grain, Seed and Produce Merchants' Association:— Wheat.—-It is expected that a furl her quantity of wheat will arrive soon and orders are being booked for despatch from ship's side. Merchants are holding good stocks of wheat and supplying immediate requirements at from 7s 3d to 7s -Id a bushel. Maize.- —Maize is meeting with a steady demand. Good stocks are held and the market is steady at from 7s Od to 7s lOd a bushel. Chaff.—Merchants' stocks ore light, but supplies are expected from the south this week. The market remain* unaltered at from £lO 15s to £ll I ()s a ton. Oats.—-The oat market is firm at late rates. The demand is not heavy at prices from 5s Id to 5s -Id a bushel. Stockmeal,—'There is no alteration in the stockmcal position. Good stocks are held by merchants, with prices unaltered. Barley.—A quantity is expected shortly and orders are being booked at ihe arranged price of 5s 5d a bushel, net f.0.r./b., for a minimum of 10 sacks, cash before despatch. Meantime stocks of barley are light and the market steady at: Undipped, . r >s lOd to 6s a bushel; clipped, Os .'id to <As (id a bushel. Australian Bran. —Good stocks of this line are held, and in view of export- permits in Australia being held up for future supplies, i« is expected that the quantity held here wih soon go into consumption. PUKEKOHE MARKET (0.0.) PUKF.KOIIF., Monday Heavy supplies of cabbages continue to come forward from Pukekohe groue:.--, and the price continues to decline, to-days luiure being Is a Chapman bag, which compares with 5s (id a week ago. Tho vaim- oi otlo-r hues of Pukekohe produce are s eady < an.Plowed sell at Its (id a Chapman bag. lab.e potato...-, about :10s per cut., onions Os. <trcy ytimpkiiii 7s Od per cwl„ red •>- od. pieme.ous ■ s, <-->ras

FOREIGN EXCHANGE Closing telegraphic rates sales of foreign exchange A,uU "VvL t h o ■ seas centres yesterday were supplied blithe Bank of New South Wales us tuiious: May 10 T T T.T. Buying New York, <lol. to C .. Montreal, dol. to £ . • Java, n to £ . .. Manila, pesos to £ .. <• I ■- Hongkong. pence to do!. India, pence to rupee . Ceylon, pence to rupee . , vJShanghai, pence to dol. ' Singapore, pence to dol. 3 t 11-0 * •" s. Af., fx.z. jl-s.a. too tjuk'.ziziz&VLondon, i'N.Z. £sf. WO l'.M/7/ti Australia, £A. £N.Z. 100 100/10/Fiji, £F. £N.Z. 100 DO bt>iV2!o