COMPANY AFFAIRS

Wanganui Chronicle, Volume 80, Issue 275, 19 November 1937, Page 11

COMPANY AFFAIRS

PROCERA BREAD PROCESS (N.Z.), LTD. Procera Bread Process (N.Z.) Ltd. announces that transfer books will be closed from November 20 to 26, both days inclusive. NEW ZEALAND BREWERIES, LTD. New Zealand Breweries Ltd. announce that the transfer books will be closed from Monday, November 29, to Thursday, December 9, both days inclusive. WILSONS CEMENT. Wilsons (N.Z.) Portland Cement Ltd. yesterday advised the Stock Exchange Association that an interim dividend of 4*d per share would be paid on December 8 to holders of shares on November 25. The share register will be closed from November 25 to December 8, both days inclusive. Last year the company paid an interim dividend of 9d per share and a final dividend of the same amount, making a total of Is 6d per 10s share, equivalent to 15 per cent. This required £45,000 and left £14,889 to swell tile floating balance, making the carry forward £27,241. Since the close of last year’s accounts capital has been increased to £600,000 by the creation of 300,000 shares of 10s each, which were issued to shareholders as fully paid in the proportion of one for one. BRUCE WOOLLEN COMPANY. DUNEDIN, Nov. 17. In moving the adoption of the report at the annual meeting to-day of the Bruce Woollen Company, the chairman of directors, Mr. P. McSkimming, said that the profit for the year did not warrant the payment of even a small dividend to ordinary shareholders, for the directors had deemed it more prudent, under the existing circumsances, to provide as full depreciation as possible. It had also to be borne in mind that wool was high in value and might show some decline when the New Zealand sales were opened. The gross profit fop’ £21,780, Mr. McSkimming said, showed a decrease on last year of £5592, which was accounted for partly by increased wages and partly by reduced sales; on the other side the reduction in expenses had not been large enough to offset the reduced profit.