LATE COMMERCIAL.

Sun (Christchurch), Volume VI, Issue 1641, 19 May 1919, Page 11

LATE COMMERCIAL.

TAUPIRI COAL MINES, LTD. The annual balance-sheet of the Taupiri Coal Mines, Ltd., has been issued. It shows that the profit for the year, after allowing lor £IOOO depreciation, is £10,653 9/2. A preference dividend of 8 per cent., amounting to £1512 16/1, has been paid, and it is proposed to pay a dividend of 7* per cent, on ordinary' shaves, absorbing £9015, which leaves £1572 16/7 to be carried forward. This company some time ago suffered a great disaster, and as the claims were heavy and the company then carried its own accident fund a considerable inroad was made into its finances. It is therefore surprising to find the directors proposing to pay a dividend of 7J per cent. It would have been better to have paid" a smaller dividend and transferred the difference to form the nucleus of a reserve fund. As it is, the .balance-sheet shows no such fund, and although the company is now covered by accident insurance, this does not cover all claims under common law. The latest Auckland share quotations arc buyers 17/9, sellers 18/9. These shares, which are 20/paid, are ex dividend 1/6. The funeral of the late Miss Ruby Jackson, youngest daughter' of. SeniorSergeant Jaekson, Lyttelton, took place on Saturday at the Sydenham Cemetery. The cortege left the residence of deceased's sister, Mrs Walter Dixon, and was followed to the grave by many friends. Superintendent Dwyer and Sub-Inspector Mullany were also present. Telegrams of condolence were sent from all over New Zealand, amongst them being one from the Hon. T. M. Wilford, Minister of Justice. The Rev. J. Paterson conducted a short service at the house, and also officiated at the graveside. The pall-bearers were Sergeants Cassidy (Sydenham) and Hylanrt (Cliristchureh) and Messrs A. P. Craig and J. Shier,