COMPANY AFFAIRS.

Wanganui Chronicle, Volume 86, Issue 241, 13 October 1942, Page 1

COMPANY AFFAIRS.

FARMERS' AUCTIONEERING CO. A net profit for the year ended July 31 of £74,379, compared with £6G,5u6 last year and £69,432 in 1940, is shown in the accounts of the Farmers' Co-operative Auctioneering Co., Ltd.. Hamilton. The result is reached after providing for had debts and depreciation. This year taxation is shown separately as £52,000, and when this is deducted from the profit and the amount of £6443 is brought in there is £28,822 available. Preference dividends paid in February and August required £12,660, leaving £16,162. out of which i ! it is proposed to pay a dividend of 4 per cent, on ordinary shares, taking £'.'o69, and leaving £7093 to be carried forward, the ordinary ' dividend compares with 6 jx>r cent., which had been maintained since 1936. FARMER AND CO. LOWER PROFIT. Farmer and Co., Sydney, report a net ' profit of £93,115 for the year ended July 31, I against £1 10,044 the previous year. This is I the lowest profit since 1936. Ordinary divii dend is reduced from 8J per cent, to 7j per | cent. The directors say taxation greatly exceeded net profit, and was almost double the amount paid in the previous year, W. R. CARPENTER (FIJI), LTD. Net profit nf W. R. Carpenter (Fiji), Ltd., increased to £9366 for the year ended March 31 from £ll4l from 1910-41. Ordinary dividend of 10 per cent., the first aince 1937, requires £6094. and the 7 per cent, preference dividend absorbs £l4OO. CABLE AND WIRELESS, LTD. Lord Pender, governor of Cable Wirelese (Holdings), Ltd., in his annual address, referred to the company’s holdings. Largely as a result of the Goverment’s financial policy, he said, the rise in values last year had continued. “The book value of our investments at December 31 last whk £16,208,058. and the market, value was £14,413,150, showing a depreciation of £1,794.878. or 11 per cent., as against a depreciation of 19 per cent, at December 31, 1940,” be said. “Total investments were increased by a very substantial amount, as a result of further subscriptions to various new Government issues. About 93 per cent, total market value of investments is represented by securities within the British