COMMERCIAL

Poverty Bay Herald, Volume LXIV, Issue 19374, 12 July 1937, Page 11

COMMERCIAL

RESERVE BANK NET PROFIT OP £147,143 A profit for the year ended March 31, 1937, of £147,142 13s Od is shown in the accounts of the Reserve Bank of New Zealand, which were gazetted this week. , , The profit. and loss account as at March 31 last shows that the balance of profit, after making provision for rebate on Treasury Bills not yet due, and for sundry liabilities and contingencies, was £238,917 18s Id. General charges for the year, including salaries, rent, cost of note Issue and other expenses, totalled £81,775 4s 7d. A sum of £IO,OOO was provided for the staff superannuation and provident fund. , Of. the, balance of £147,142 13s fid, representing net profit for the year, tße.sum of £IOO,OOO . is. shown in the ■profit, and loss appropriation account as having been paid to the Government in terms of section 11 of the Finance Act, 1934, leaving a balance of £47,142 13s 6d.

DIVIDEND UNCHANGED PERPETUAL FORESTS, LTD. A net profit of £26,030, against £22,104 in the previous year, was earned by New Zealand Perpetual Forests, Limited, for the year ended March 31. , , The year’s dividend is unchanged at 8 per cent.

ELECTROLYTIC ZINC DIVIDEND AND BONUS A substantial increase in the year s distribution is announced by the Electrolytic Zinc Company of Australasia, Limited, which yesterday cabled to the Stock Exchange Association that the directors yesterday declared a dividend of 9 per cent for the half-year ended June 30, 1937, making 15 per cent for the year, together with a bonus of 6d per share on both preference and ordinary shares. The dividend is payable on September 10 to shareholders registered on July 29. The dividend and bonus represents a total distribution for the year ended June 30 of 17! per cent, compared with 10 per cent last year, 8 per cent in 1935, and 12 per cent in 1934 and 1933.

ENGLISH APPLE MARKET LONDON, July HI. Apples are in gnoil flernanil. New Zealand consignments have been landed by the Cambridge, Mataroa. and Port Caroline. St tinners are selling at, from !)s to 10s: Tasmanian Stunners from 0s to ins (id; Jonathans, 0s to Its. I’ears are firmer, Australian Packliams making las to 18s a ease.