COMPANY NEWS

Timaru Herald, Volume CXXXVII, Issue 19802, 18 May 1934, Page 2

COMPANY NEWS

Dominion Fertiliser Co., Ltd. The annual report of the above company states that there has been a substantial improvement in the company’s business during the past year, and this improvement in the gross profit earned by the company after writing off depreciation amounting to £7790 18s and providing £5326 2s 3d for payment of income tax the net profit for the year is £12,709 10s 4d. Of this amount £4457 18s lOd has been applied in the reduction of preliminary expenses and establishment account leaving £8244 11s 6d. To this has to be added the balance of £l3Ol 13s 9d brought forward from last year, making a total of £9546 5s 3d to be .dealt with. The directors recommend the payment of a dividend of 3 per cent, which will absorb £7,616 15s 5tJ and that the balance of £2329 9s lOd be carried forward. Taupiri Coal Mines, Ltd. The annual statement of accounts discloses a loss of £12,248 for the year ending March 31st. This compares with a profit of £6343 for the previous year. No dividend is recommended for the ordinary shares, but a transfer of £I2BO has been made from the dividend equalisation account to pay the preference dividend of 8 per cent, less the statutory reduction of 20 per cent. There remains £1720 to the credit of the equilisation of dividends account. On April Ist ,1933, there remained a balance of £3,104 in the profit and loss account. This amount has been increased by the transfer of £1645 from the income tax reserve account. The debit balance of the profit and loss account then stands at £7499. The directors recommend that £II,OOO set aside as an accident reserve be transferred to the profit and loss appropriation account. If this was done there will be a credit balance of £3501 to be carried forward after the year's losses are extinguished. Rolls Royce, Ltd. The above company paid a dividend of 17 per cent for the year ending December 31st, 1933, compared with 10 per cent, for the previous year. Higher percentage rates were paid by the company prior to the war, but in 1918 by a capitalisation of part of the reserves one free bonus share for each one held was allotted to the shareholders. In 1933 the profits were £216,726 against £150,979 for 1932. In addition to a dividend of 15 per cent, a bonus of two per cent was paid. The capital of the company is £825,813 in one pound shares. Dividends Payable. Dalgety and Co., Ltd., final 21 per cent May 17 Donaghy’s Rope and Twine, 1/3 per share, final May 21 Dental and Medical, 21 per cent, annual May 19 N.Z. Paper "Mills, final 4 per cent May 22 Wright Stephenson prefs. 51 per cent May 23 Wright Stephenson ord. 3 per cent May 23 Westport Coal Co. interim 6d per share May 28 Henry Jones Co-op. interim 6d per share June 1 Bank of N.S. Wales quarterly 5/- per share May 30 Wilson’s Cement final 6d per share June 6 Bank of N.Z. final 5 per cent making 10 per cent per annum June 15 Broken Hill South 1/6 per share ■ • • June 15 Australian Price of Gold. The price fixed by the Commonwealth Bank for gold, including old jewellery, lodged at the mint from April 30th to May 4 inclusive, was £8 8s Id a fine ounce, an increase of 71d over the price for the previous week.