FLOUR COMPANY.

Star (Christchurch), Volume LXVI, Issue 20561, 12 March 1935, Page 9

FLOUR COMPANY.

North Canterbury Annual Report. DIVIDEND, 71 PER CENT. The annual report and balance sheet of the directors of the North Canterbury Co-operative Flour Milling, Exporting and Agency Company, Ltd., for the year ended January 31, 1935, (will be presented to the annual meeting of shareholders on March 19. The report states: “ The amount of profits available for distribution is £2724 7s 9d, after making adequate provision for all depreciations. The directors recommend the payment of a dividend of 7i per cent for the year upon the paid-up capital of the company, the balance to be carried forward.

“ The company’s subsidiary, the Zealandia Milling Company, Ltd., has been operating without stoppage during the year, except for the usual overhaul. The quality of the products has been kept up to a uniformly high grade. “ Mr FT. Tallott retires from the directorate by rotation and is eligible for re-election.” Balance-sbe«t. The main items of the balance-sheet are as follows: —

The profit and loss account shows balance brought forward at February 1, 1934, of £1624 13s lOd; rents and sundry receipts to January 31, 1935, are £678 18s Id; dividend, Zealandia Milling Company, Ltd., £1089; dividend, Distributors, Ltd., £l6. Directors’ fees absorbed £250 * and general expenses, interest, income tax, depreciation and audit fees £434 4s 2d. In accordance with the requirements of the Companies’ Act, 1933, the statement is added that a dividend of 4i per cent, amounting to £IOB9. has been declared and is payable from the profits of the Zealandia Milling Company, Ltd., a subsidiary company of the North Canterbury Co-operative Flour Milling Exporting and Agency Company, Ltd., for the year ending January 31, 1935. The dividend is unchanged from last year. Shares of £1 each, paid to 10s. SALES TAX OPPOSED. Public Spending Power Affected. per Pres<s Association. WAIPUKURAU, This Day. At a largely attended meeting of the Chamber of Commerce, a resolution was passed against the continued collection of the sales tax, the growth in the amount being pointed to as seriously affecting spending power. Opposition to discrimination between the city and country rates of relief pay was likewise expressed, but satisfaction was recorded as to a semiprovincial adjustment of the differential rates arising from the new scale. RATE REPUDIATION. Mortgage Corporation Clause Opposed. Per Press Association. WAIPUKURAU, This Day. The Patangata County Council, at its monthly meeting at Waipukurau to-day, supported the overture by the Christchurch City Council protesting against the clause in the Mortgage Corporation Bill giving power to the Crown to reptidiate liability for rates on reverted properties. PRICE OF GOLD. (Received March 12, 1.40 p.m.) LONDON, March 11. Gold is quoted at 14Ss 4d per fine

LIABILITIES £ R d. Called-up capital 14.000 0 0 General reserve 6,000 Bank of New Zealand . . Profit and Joss appropriation account 2,724 7 9 £24,112 19 6 Contingent liability: Uncalled capital in Distributors, Ltd SOO 0 0 ASSETS. £ s d. Fixed Assets— Freehold land, buildings and railway siding at cost, less provision for depreciation .... 1,108 13 4 Floating Assets— Dennis truck at cost, less provision for depreciation 50 16 0 Insurance Fund investments 518 4 11 Shares; Distributors Ltd. (£260), Zealandia Milling Co., Ltd., 24,000 shares at cost (£21.070 9s fid) 21,270 9 S Zealandia Milling Co.. Ltd 1,164 13 7 £24,112 19 6

Per ounce, s. (1. March S 1 48 3£ March 7 14 8 10 March 6 140 4 March 5 117 10 i March 4 148 10 March 2 146 10J March 1 145 1 February 2S 144 i February 27 113 Hi February 27. 14 3 9} February 23 4 .. . 143 11 February 22 1 43 6J February 20 1 42 ft February 12 112 2J February fi 141 10 * January 1 140 10i