COMPANY AFFAIRS.

Star (Christchurch), Volume LXVI, Issue 20556, 6 March 1935, Page 9

COMPANY AFFAIRS.

Melbourne Co-operative Brewery. Interim dividend of 5d per 10s share for the quarter ended January 31, 1935. has been declared by the directors of the Melbourne Co-operative Brewery Company, Ltd., payable on March 15. The transfer books will be closed from March 7 to March lfi. For several years past, quarterly dividends of 4d per share, or Is 4d per annum, have been paid by the company. Howard Smith Dividend. Howard Smith, Ltd., investors in shipping', steel, coal, cement, etc.—An ordinary dividend of 2£ per cent for the year ended December 31 is payable on April 16, transfer books closing on April 2. For 1933, an ordinary dividend of li per cent was paid. The usual quarterly dividend on the 6 per cent preference shares is payable on April 6, transfer books closing on April 1. Lustre Hosiery Profits. Directors of Lustre Hosiery, Ltd., recommend the payment of a final ordinary dividend of 5J per cent, which, with the interim dividend of 21 per cent, makes 72 per cent for the year, compared with 5 per cent last year. A substantial increase in profits is shown in the company’s accounts for the year ended December 31, 1934. Gross profits rose by £9902 to £160,85.2, and the net profit, struck after provision for taxation, was £33.158, compared with £25,155 in 1933. Preference dividend at the rate of 10 per cent per annum, less the statutory deduction of 22J per cent, absorbs £6458; £12,917 is required for the ordinary dividend; and a further amount of £IO,OOO is added to general reserves. The balance carried forward is £17,267. national Mortgage and Agency. The report of the National Mortgage and .Agency Company of New Zealand to September 30 shows net profit £22.386 (against £18.420 last year). After bonus to staff, provision for bad and doubtful debts, contingencies and depreciation, and £3755, with further special contributions of £2500 to staff funds, including £14.986 brought in, there is £37,371 available. A final dividend of 21 per cent in sterling, tax free, making 5 per cent, tax free, is payable. To reserve £SOOO ££1316), making It £300,000, forward £15.293. The report states that the course of business has, on the whole, been satisfactory. Wool prices continued to decline. but have now been arrested, and in the sales just closing an improvement in values has taken place. Dairy produce prices have also improved since the date of the balance-sh-jet, and frozen meat prices have been well maintained. Ashbirrton BuDding Society, The annual meeting of the Ashburton Permanent Building and Investment Society was held last evening, the de-puty-chairman of directors (Mr E. F. Niooll) presiding. The annual report stated that the past year had shown a marked improvement in the society's transactions. The directors had taken

great care in dealing with the securities and funds of the society with a view' to conserving the interests of the depositors and shareholders. On August 3, 1934, and in February, 1935, interest at tho rate of £5 per centum per annum was paid to A shareholders and credited to B shareholders, absorbing the sum of £3398 3s Bd. The balance left in the profit and loss account was £1615 18s 7d. which the directors recommended should be carried forward. The directors who retired by rotation were Messrs R. A. Collins and J. Findlay. There being three candidates a ballot was held, and resulted:—Mr Collins (439 votes). Dr G. I. Miller (371) Mr Findlay (367). Mr Collins and Dr Miller were declared elected. Messrs W. H. Woods and J. W. Bowden were reappointed auditors. The matter of appointing a chairman was held over. Huddart Barker, X,td. On trading in the year entfed December 31, 1934, Huddart Parker. Ltd., earned net profit of £83,774. or £10,820 more than in 1933. In September, 1934, an interim dividend was paid for the half-year ended June 30, 1934, of 3 per cent on the preference capital and 3 per cent on the ordinary capital, which absorbed £37,500. A dividend has now been declared of 3 per cent on the preference capital and 4 per cent on the ordinary capital. This will absorb a further sum of £45,000. leaving, with £07.565 bi'ought in, a sum of £58,839 to carry forward. Dividend of 7 per cent on the ordinary capital for 1934 is 2 per cent more than was paid for 1933. The report of the board states that the steamer Ulimaroa, which has been laid j up since the motor vessel Wanganella took over the Australian-New Zealand i service, was sold in May last. Substantial alterations and Improvements have be is. n i ef?ecte <J to the steamer Zealandia, which maintains the passenger service in the Sydne.v-Hobart trade. There has been an improvement in cargo and passenger traffic, but the unsatisfactory position regarding the New South vVales coal trade remains unaltered. ; Entries from the last two balancesheets are given beneath:— December 31.

Inabilities— 1933. £ 193 4. £ Capital paid up ... 1.250.000 400,000 Insurance fund .... Deposits Reserve for contin53.260 6,331 irencies, taxation, repairs. maintenap»*e. etc 424.690 Sundry creditors Assets— 333.146 295,027 Steamships, plant, properties. shares in other companies. etc. • 1,525.127 Movernment securities and other investments 1.204.301 v-aal stocks and snares Rundry debtors .... 93.5 3 3 Bank overdraft