COMPANY AFFAIRS.

Wanganui Chronicle, Volume 87, Issue 234, 4 October 1943, Page 1

COMPANY AFFAIRS.

MYER EMPORIUM, LTD. Including’ £19,955 over-provided for taxation last year, profit of Myer Emporium, Ltd., Melbourne, for year ended July 31, is £209,519. Provision for taxation is £145,000, and for depreciation £85,680. Previous year’s profit was £167,137, after allowing £226,389 for taxation (including £26,389 short provided for 1940-41), and £105,673 for depreciation. Ordinary dividend is unchanged at 71 per cent., requiring £129,375. Preference dividend of 9 per cent, absorbs £58,990. NEW AUSTRALIAN LOAN. Australia’s Fourth Liberty Loan of £125,000,000 will open on October 5 and close not later than November 9. The proapectu • «■ swa that the loan, which will be issued at par, will consist of 21 per cent. stocK mavunug in 1947-48, and 3J per cent, stock repayable in 1950-59. The terms are similar to those for previous loans, and subscriptions may be made by instalment. It is hoped to secure at least 750,000 subscribers. FUTURE OF RUBBER. In a statement accompanying the full accounts of the Dunlop Rubber Co., Great Britain, Sir George Beharrell explained that last year’s fall in net profit from £3,18G,000 to £2,433,000 was due to curtailment of business owing to regulations and to lower margin of profit on greatly increased proportion of business for Allied Governments. The balance-sheet revealed stocks valued at or below cost fallen from £11,147,190 to £10,799,297. On the question of rub'er supplies, Sir George expressed the view that “the current year should see us nearer to the temporary solution of this problem through an increase in supplhs of the synthetic material from the United States.’’ He viewed the future with confidence. FLETCHER HOLDINGS, LTD. The directors of Fletcher Holdings Ltd. announce that they have resolved to offer to existing shareholders up to 125,000 of the company’s unissued ordinary shares of £ 1 each at a premium of 2s 6d per share. The issue opens on October 4, 1943, and closes on October 21, 1943. Existing shareholders are entitled as of right to an allotment in the ratio of one share for every two held. The privilege of transferring their rights is also granted to shareholders.