COMMERCIAL

Poverty Bay Herald, Volume LXII, Issue 18594, 3 January 1935, Page 2

COMMERCIAL

JOSEPH NATHAN AND CO

NET PROFIT HIGHER

A preliminary announcement issued by Joseph Nathan and Company. Limited, London, states that the accounts for the vear ended September 30 will show a profit, subject to audit, of £55.230, compared with £39.521 earned in the previous year. The directors state that this result reflects a further satisfactory improvement and expansion in the business of the company, although some • ections are still hampered by ad vers economic conditions. At the annual meeting in March the directors will recommend payment of one year's dividend on the 8 per cent, preferred ordinary shares, leaving arrears on those shares as from September 30. 1932.

The Auckland business of the New Zealand Express Company. Limited, has been acquired by n public company registered in Auckland. The New Zea hind business of the oMer company will still be carried oil outside the Auckland territory. The Auckland branch will be maintained as at present, Mr. J. M. Simson retaining bis position as manager. The new compaftv. New Zealand Express Company (Auckland). Limited, has a capital of £12,000 in C 1 shares. The subscribers arc R. A. Anderson. R„ T. Duthie, -L M. Simson, J. A. Gentles, W. E. Lewisham, Mary i’. Wakeman and A. Stopford, listed with one share each.

NATIONAL BANK OF N.Z

INTERIM DIVIDEND

The general manager of the National Bank of New Zealand. Limited, announces payment on January 5 of an interim dividend at the rate of 4 per cent, per annum, free of tax, for the half-year ended September 30 last. The above dividend will be payable in New Zealand ut any branch of the National Rank a‘. current rate of exchange for demand drafts on London on the date of negotiation. This makes the interim dividend equal to £2 9s. b per cent.

This bank shows its capital and reserves ns ruder : —Subscribed capital£6.ooo.ooo; paid-up capital. £2,C00,0C0; reserve tuna, invested in Government securities, C1.0CO.000; currency reserve, invested >n Government securities, £1.000.000: reserve liability of shareholders. £6.000.000; total. '£Io.OOO.CCO. In addition there are undivided profits carried forward of £106.416.

In the balance-sheet liquid assets stand at t12.289.CC0, which is equivalent to 68 per cont., or 13s 7d in the <£ ->f lotal liabilities to the public, and for every Cl of its own funds the bank is holding only £4 7s 9d of the public’s money, which is an exceptionally strong position