COMPANY AFFAIRS

Wanganui Chronicle, Volume 84, Issue 178, 31 July 1940, Page 3

COMPANY AFFAIRS

N.Z. DRUG COMPANY PROPOSED INCREASE OF CAPITAL DUNADIN, July 29. The directors of Kempthorne, Prosser and Company’s New Zealand Drug Co., Lid., at a meeting to-day decided to place before shareholders at an extraordinary general meeting proposals as follows: (a) To increase the nominal capital of the company from £600,000 to £Boo,odd. (b) To offer to members for subscription at par one new ordinary share for each four of their present holding. The Minister of Finance, recognising the importance in the public interest of extending the company's business in manufacturing fertilisers, has given approval to the increase of capital. BROKEN HILL PROPRIETARY BIG REDUCTION IN NET PROFIT For the first time for four years net profit of the Broken Hill Proprietary Co., Ltd., is below the £1,000,0(10 level. A cable message received on Monday by the Stock Exchange Association states that, subject to audit, net profit for the year ended May 31, was £979,138 9s 6d, after providing £903,354 3s 2d for depreciation. Net profits for the years ended May 31, 1930. 1931 and 1932, were, respectively, £161,890. £83,257, anti £103,720, all of which was added to reserves, no dividends being paid for those periods. In 1932, £200.000 was written off the old plant. Net profit shown in 1933 was £313.617, in 1934, £427.588; in 1935, £670,442; in 1936, £850,361; and in 1937, £1,183.170.

Dividends of 10 per cent, were paid for the years ended May 3.1. 1933, 1934 and 1935, and of 121 per cent, for 1936, 1937, and 1938 and 1939. The half-year-ly dividend paid on May 29 last was 9d a share. BANK OF NEW SOUTH WALES INTERIM QUARTERLY DIVIDEND The Bank of New South Wales announces that an interim quarterly diviend has been declared of 6s a share in Australian currency at date of payment. It will be payable at head office ion August 29, and at branches on re- ! ceipt of advice. Transfer books will | close on August 12. | r lhe dividend is at the unchanged I rate of 6 per cent, per annum.