COMMERCIAL

Poverty Bay Herald, Volume LX, Issue 18235, 2 November 1933, Page 9

COMMERCIAL

DIFFICULT TRADING ABRAHAM AND WILLIAMS, LTD. The directors of Abraham and Williams, Limited, in tlnir statemeut oi accounts for the year ended September 30, 1903, show that the net trading profit for the year amounts to £10,379 8s 7d, to which has to be added the amount brought forward from la.-.t year, £-.1125 His Id, making a total of £20,505 Is I Id. The above figures make no provision for bad and doubtful debts, or lor unpaid interest, on farmers’ advance accounts, and the directors have deemed it advisable to provide for these items an amount of £32,080, leaving a debit balance of £12,171 15s Id, which has been transferred to reserve account. In their last year’s report the directors stated that “until conditions are such that sheep farming is again a profitable occupation, it will be difficult for this company to make profits.’’ After that statement was made the prices of all sheep-farmers ’ products continued to fall up to May last, by which time practically the whole of tin; sheep-farmers' produce for the season had been marketed. .Since thr'ii markets have improved to some extent and the. outlook is better. At the same time no sheep-farmers’ produce for the 1933-34 season had been marketed at the date of the company’s balance, and farmers have yet <o ro mive the benefits of the rise in prices. The only farmers’ produce yet marketed for the current producing season is dairy produce, and London prices for tliis have been consistently below the prices ruling at the corresponding period of 1932. The chief help the farmer has had up to the present has been that arising from the widening of the exchange rate. DALGETY AND CO., LTD. FINAL DIVIDEND 21 PER CENT The New Zealand superintendent for Dalgety and Company, Limited, has received advice from the company’s head office in London that at the annual meeting to be held on November 23 the directors will recommend declaring a final dividend of 21 per cent, making, with interim dividend already ■paid, 5 per cent for the year ended .lime 30 Inst. The dividend will be payable on November 27. The directors propose transferring £IO,OOO to the staff provident fund, and carrying forward the sum of £131.900,

, D.I.C. YEAR MUCH IMPROVED RESULTS Improved figures compared with hist year’s returns wore eoutained in the annual report anti balance-sheet presented to the shareholders of the Drapery Importing Company of New Zealand, Limited, at the annual meeting. Mr. Villi Fels, chairman of directors, said that after the trying conditions of the last year, which had eon tinned to some extent until recently, it was with some satisfaction that the directors could present, a balanee-sheci with much improved figures. “Capital stands at £431,283. Our indebtedness to the National Bank of New Zealand has been decreased from £48,702 last year to £5197, and the item sundry creditors, which was rm duccd last year by £57,428, shows a further reduction of £-1425, and now stands at £206,618. Reserves are about the same as last year (£85,334), and, with the addition of the balance carried forward, £28,387, make a total of £113,722, representing over 26 per cent, of the paid-up capital of the company. “Comparing the profit and loss account, gross profit at £190,679, is £6OIO less than last year, but disbursements are £173,573, against £193,833. showing savings of £20,260, compris ing trade expenses, interest, fire and earthquake insurance, smaller bad debts, etc.

“Considering the difficult trading conditions of last year, the profit and loss account discloses a most encouraging result, full of promise l'or the future. Tho directors are glad to be aide to recommend payment of a dividend of 5 per cent, per annum on tho preference shares, and 21 per cent, per annum on the ordinary shares.”

SYDNEY STOCK EXCHANGE gold and pastoral firms SYDNEY, October 31. On the Sydney Stock Exchange operations are slackening, with a tendency to irregularity in retail trading shares, but gold and ‘pastoral shares generally are firmer. Halos: National Bank, £5 paid, £6 12s 6d; Colonial Sugar, £62; Associated News, 20s ditto, pci.', 20s 3d; British Tobacco,'3Bs lid; Dunlop I’erdriau, 18s 9d ; Goldsbrough Molt, 30s ill: Anthony Hordern, 13s 3d; David .(ones, 35s 3d ; Wilcox Mofflin, 10s 2d ; Henry Jones, 35s 6d ; Electrolytic Zinc, 26s 6d : .Morris Ilcdstrom, 19s 6d; Carllon Brewery, 45s ; Tooths, 43s 3d; North Broken Hill, 87s 6d ; Houth Broken Hill, 05s 3d; Bulolo Gold, New Zealand delivery. £5 2s; Mount Morgan, 52s 3d; Kuala ' Kumpar, 12s; Commonwealth bonds, 4 per cents., 1938. £lO4 17s 6d ; 1941, £lO5 7s 6d ; 1947, £lO5 Is 3d; 1950, QOS 5s- 1953, £lO5 10s; - 1955, £lO6 2s l 6d; 1957, £lO6 10s; 1959, £lO5 ss; 1961, £lO5 15s. Morning stiles included Commonwealth bonds, 4 per cent., 1938, £lO4 17s 6d : 1941, £lO5 10s; 1959, £lO5 3s 9d ; Bank of New South Wales, £33 17s 6d ; Associated News. 20s 3d : ditto, prof., 20s 3d ; Broken Hill Proprietary, 40s 9d; Golds Brough Mort, 30s 4Jd; Wilcox Mofflin, 10s 2d. MELBOURNE, October 31. Sales: National Bank, £5 paid, £6 13s 6d; Metropolitan Gas, £l2 15s; Goldshi'Ough Mort, 30s 4id; Herald and Weekly Times, 48s: Mount Lyell, 23(J; North Broken Hill, 88s. BURNS, PHILP & CO., LTD. interim dividend Burns, Philp and Company, Limited, Sydney, yesterday advised the Stock Exchange that at a, meeting of directors on October Dfi i* was decided to pay .au interim dh idend at the usual .rate" of Hi per cent, per annum 'for the six months to September 30. ' ....... Thirty-one colors in Fairy Dyes—use in hot or cold water.”