COMPANY AFFAIRS

Wanganui Chronicle, Volume 79, Issue 277, 23 November 1936, Page 11

COMPANY AFFAIRS

j QUEENSLAND INSURANCE DIVIDED AND BONUS The Queensland Insurance Company Ltd., has declared a final dividend of 4 per cent., making 8 per cent, for the year (unchanged), plus a special jubilee bonus of 2 per cent. Payment will be made on November 27. ALLIED MOTORS INTERESTS INCREASE IN LOSSES The annual report of Allied Motors Interests, Ltd., Christchurch, states that the total deficiency, representing the accumulated losses of all sub-, sidiary companies, has increased by I £10.459, from £131,098 as at July 31. 1935, to £141,557 as at July 31, 1936. The report adds that this increase in the accumulated deficiency of the sub- 1 sidiaries is wholly attributable to losses sustained on the realisation of assets, which in total amounted to approximately £lB,OOO for the year, including the realisation losses on nontrading companies’ stocks of spare parts, furiture and fittings. The operations of the only active subsidiary, Ruskin Motors Bodies Proprietary, Limited, were profitable, although not to the extent anticipated. It. was noted in the report that a general improvement in costs of production and efficiency methods had been effected. CLAUDE NEON LIGHTS SLIGHTLY LOWER PROFIT A net profit of £5228 is shown in the accounts of Claude Neon Lights of New Zealand, Limited, for the year ended September 30. This compares with £5741 in the previous year and £5989 in 1934. With £2703 brought forward there is £7932 available. Interim dividend of 4 per cent absorbed £2242 and the directors propose to pay a final dividend of 4 per cent., making 8 per cent, for the year, an unchanged rate. This will require £2242, leaving £3448 to be carried forward. The directors state that the accqunts show a satisfactory position. The contract value of signs at the end of the financial year amounted to £120,000. The accounts had been drawn up conservatively and full depreciation had been provided for. General and specfic reserves had been increased by £836 to £5OlO. Paid ‘capital remains at £56,039. Total assets are £8353 higher at £85,152, the principal movement being a rise of £10,898 in signs on rental being a rise of at cost (less amortisation), stocks, etc., to £59,321,