COMMERCIAL

Poverty Bay Herald, Volume LXIV, Issue 19503, 9 December 1937, Page 5

COMMERCIAL

FRANKTON QUOTATIONS

STORE CATTLE IMPROVE

A full yarding of all classes of fat sheep came forward at the Frankton stock sale. The quality of the offering was better than the previous week. Competition from a representative bench of buyers was steady, and a total clearance was effected at values fully equal to recent rates. There was a medium offering of good quolity ox beef, which sold at rates equal to last week, while the cow and heifer section included a number of heavy prime young cows, which sold at slightly improved values. Stores and boner cows were penned in large numbers, and values were slightly ahead of late quotations.

NATIONAL ELECTRIC

DIVIDEND AGAIN RAISED FURTHER PROFIT INCREASE A net profit of £17,340 is recorded in tlie accounts of the National Electrical and Engineering Company, Limited, Dunedin, for the year ended October 31. The directors recommend a dividend of 5 per cent. The report states after providing for income tax, estimated at £7900, and the writing down of shares held in New Zealand Insulators, Limited, by £SOO, there will be a credit balance of £3037. This amount, added to the credit balance carried forward from last year of £lO3, will increase the credit balance to be carried forward to £3195. In ascertaining the profits for the year, no credit has been taken for the amount of orders in hand. The company’s assets, as in the past, have Upon conservatively valued, suitable provision having been made for depreciation of plant, buildings, stock an.d furniture. The directors’ report states that business during the year has been buoyant, and sales have increased considerably. The directors hope that these favourable conditions will continue. The net profit compares with £11,700 earned in, the previous year and £7701 in 1935. The dividend of

5 per cent compares with 4 per cent last year and .'i per cent, in the previous two years. The company has a paid capital of £118,270.