COMPANY AFFAIRS

Wanganui Chronicle, Volume 80, Issue 123, 27 May 1938, Page 11

COMPANY AFFAIRS

CLAUDE NEON (SYDNEY)

The directors of Claude Neon, Ltd., Sydney, report that they have discussed the question of an amalgamation with Claude Neon Lights (Victoria), Ltd., but that the matter is still in r. very tentative stage. Discussions have not been concrete enough to suggest whether an amalgamation would take place or not. ANTHONY HORDERN A net profit of £113,026, an increase 1 of £3610, is shown in the accounts of Anthony Hordern, Sydney, for the year ended February 23. With a final payment of per cent, the dividend for the year is 5 per cent., against 4£ per cent, in the previous period. The distribution, together with the preference dividend of 7% per cent., less statutory deduction, requires £43,593, leaving £17,000 to be carried forward, against £10,068 brought in. In addition to capital of £2,000,000, first mortgage debenture at February 23 stood at £580,000, having* been reduced by £20,000 during the year. TRUSTEES, EXECUTORS CO. DUNEDIN, May 25. A net profit of £3803 10s is reported in the balance-sheet of the Trustees, Executors and Agency Company of New Zealand, Ltd., for the year ended March 31. Profit compares with £2809 in 1937 and £3278 in 1936. The dividend has been maintained at 8 per cent., with a final distribution of 4 per cent. The directors consider that it is now desirable to capitalise a portion of the company’s reserves, and a call of £1 a share has been made and a bonus dividend of a like amount declared out of reserves, to be applied in payment of such call. The effect of this will be to make the shares in the company paid up to £3. The present capital of the company is 10,000 shares of £5 each, less £3 a share uncalled, making £20,000, while the reserve account stands at £lO,OOO. The directors report that the profit and loss account shows a net profit for the year of £3803 10s sd, to which has to be added the balance of £11,254 18s from last year, making a total at credit of £15,058 8s sd. The interim dividend of 4 per cent, for the halfyear ended September 30, 1937, was paid amounting to £BOO, leaving a balance to be dealt with of £14,258 8s sd. From this balance the directors recommend the following appropriations to be made: —Dividend of 4 per cent., making 8 per cent, for the year, £800; to be written off freehold property accoi.nt, £250; to be written off office furniture account, £250, leaving a balance to be carried forward (subject to income tax for the year just ended) of £12,958 8s sd.