INVESTMENT TRUSTS

New Zealand Herald, Volume LXXVIII, Issue 23970, 21 May 1941, Page 5

INVESTMENT TRUSTS

THE NORTHERN COMPANIES TAXES REDUCE DIVIDENDS A surplus of £1714, against £2009 in the previous year, is reported in the account* of the Northern Co-operative Investment Trust, Limited, for the year ended March 31. The result is obtained after provision for taxation at existing rates. The dividend on ordinary stiares for the year -is reduced to 0 per cent (final 2Vi per cent), against. 7 per cent previously. The year's dividend requirements, including 4% per cent on preference sliarea, absorb £ls 10, and after paying £2SO additional income tax, £255 Will bo carried forward, against £361 brought in. Revenue was £3SOS, against £4159 and total assets at £41,83.1 compare with £43,195 a year ago. The directors state that operations were satisfactory, but it was considered prudent, in view of the high reserve necessary for taxation. to recommend the lower dividend. The accounts of the Second Northern .Investment Trust, Limited, for the year ended March 31, show a surplus of £1305. after taxation provision, against £1.549 last year. Similar reasons are given for the reduction of the year's dividend to 5 per cent (final 2 per cent), compared with (:i per cent lit 1940. The dividend absorbs £lO9l and £159 is paid in additional income tax, leaving £l7O to be carried forward, against £ll4 brought in. Revenue was £3503, ajramst £3SY2, and the accounts balance at £44,008, compared with £43,553 last time.

BOBBY CALF TRADE HAMILTON POOL OPERATIONS (0.C.) HAMILTON. Tuesday The work of the ilTamilton federated calf pool committee for the last sea son was i - viewed at a imvtimr to-day. I he chairman, Mr .1 l»er r ow said Hie combined Jiaiju ton ami Wniknto ' federations handled Kir,.ii3(> calves, Hamilton's share b« ui-r H> t All the calves were killed at Iluroim. Ownii! to the emhariro on the export, of boneless yea,, the prospects for the future were mi li.it I. Mr i'errow reported that the ave> aire _ .ne wo i ""lit for the Hamilton pool varied from onlir to H7lb.. U.ile ihe _ a vera tre return ranged from \u .'!\d t.> !* i>:A « rabbitskin values (0 c , DFXEDIN, Tuesday \ larso offerins of approximately 63 tons was submitted at to-day's rabbitek.n sme There was a keen deruam , aH ffrJ'iu- - ■ descriptions meeting a ready sale, held srood orders and secured the bulk of the offering, and New Zealand turners also g<\\6 support. Winter skins were. eaß«ly southt after especially bucks, which realised the extreme price of 1 -od per lb. As compared with quotations at the hist sa.e. winter «iad<s appreciated fid to Is per lb: autumn, cd to 9d per lb; and other prrades. 2d to 3d per lb. tin and silver prices I.ON DOX, May 10 " Silver is quoted at 23 7-lfid a _ standard ounce and 25 5-1 (id a fine ounce, against •. • Jl and an ounce, respectively, last week. The tin market is easier. Spot: Buyers, ids a ton; sellers, C2*is. Forward? Buyers, £206 10sj sellers,. £2(>7.