COMMERCIAL

Poverty Bay Herald, Volume LX, Issue 18162, 9 August 1933, Page 4

COMMERCIAL

N.Z. INSURANCE CO. DIVIDEND MAINTAINED The net revenue from the fire, marine and accident premiums of £1,008,530, compared with £1,050,351 in the previous year, is shown in the ninety-fifth annual report and balance-sheet of the New Zealand Insurance Company, Limited, for the year ended May 31. The directors propose the payment of a final dividend of Is a share, making 2s a share for the year. This is the same rate as in the previous year. The directors state that the surplus on the year’s operations, after making full provision for all ascertained losses to May 31, and appropriation for taxation (exclusive of provision for depreciation of investments, which is provided for in the investment fluctuation and contingency account), was £74,604, to which is added net income from interest and rents, £120,044, making a total of £194,648. With the balance brought forward, £185,205, less dividend at the rate of Is a share paid in August, 1932, £75,000, the total available for distribution is £304,853. The interim dividend of Is a share paid in February last absorbed £75,000, and £50,000 has been transferred to the reserve fund, leaving a balance of £179,853. It is proposed to pay a final dividend of Is a share, making 2s a share for the year, which will absorb a further £75,000, leaving £104,853 to be carried forward.

PIG MARKETING 1 THE FINAL PAYMENTS The chairman of directors of the New Zealand Go-operative Big Marketing Association has issued the following statement :—• “At a meeting of the board of directors to consider the final statement of accounts for the season ended May 31, tho position disclosed was entirely satisfactory, and will enable the company to pay out a substantial sum of money to its suppliers by way of a final payment. “The balance-sheet discloses unsold stock valued at approximately £40,000, a large portion of which has since been dealt with in a satisfactory manner, but it appears probable owing to tne more than usually depressed condition of the porker market at this season of the year that realisations may not be completed to enable a final distribution at the end of August. ' N ‘‘The only stocks, however, which yet remain unsold comprise lightweight porkers, which we can confidently anticipate .will meet a ready and improved demand on the new season’s market. “Whilst it is regretted that in these circumstances a final payment to the extent of the total surpluses in sight cannot be made at the end of this month, the board has decided to make a deferred payment to the extent of surpluses in hand at the end of August, and will make a later or final distribution immediately the proceeds from realisation are to hand.

“Suppliers are, however, assured that the final payment, which will include a shareholders’ bonus and appropriation for capital, will be a veiy satisfactory one, and will compare more than favorably with that of last year. “The company’s bobby calf operations, which were commenced' this year, have so filr met with excellent support and have accounted for over 33,000 calves in the Auckland province. The comSwas the first in the field with a ite price, which was equal to at least double tho values of the opening prices of last year. Calves' are purchased on scales and payment is made on weight according to size.” NEW GUINEA GOLD £928,427 WON LAST YEAR (Elec. Tel. Copyright—United Press Assn.) RABAUL, Aug. 8. Gold valued at £928,427 was won in the mandated territory during the year ended June 30. THE BUTTER MARKET HIGH F. 0.8. OFFERS An indication ,o£ the healthy outlook for the butter market is that some Taranaki dairy companies have sold on the basis of 10Jd per lb. for finest July make ~ and lOd. for first grade. The* same companies also have been asked to put on firm offer at the same price Qieir August make. The market value of 83s to 85s ruling during tho past few days was equal to about 9£d. per lb., f.o.b.