COMPANY AFFAIRS.

Wanganui Chronicle, Volume 87, Issue 279, 25 November 1943, Page 1

COMPANY AFFAIRS.

COLONIAL SUGAR CO. An interim dividend at the unchanged rate of 17s a share, equal to 84 per cent., per annum, is announced by the directors of the Colonial Sugar Refining Company, who state that this payment represents little more than 4 per cent, on the cost of the company's assets. At the request of sections of the sugar industry other than the company, the Commonwealth Government has directed the Tariff Board to investigate whether payment of a subsidy to the raw sugar producing industry is warranted. In this connection the directors state that the company owns seven out of the 36 mills producing raw sugar from cane in Australia, but, except for experimental purposes, it grows practically no cane in the Commonwealth. Temporary withdrawal of tablet sugar from the market is entirely due to service requirements, the report adds. WOOLWORTHS (Victoria) LTD. Subject to taxation, profit of Woolworths (Victoria) Ltd. at £44,782 for the year ended September 30, shows a decrease of £25,226. Ordinary dividend remains at 11 per cent., requir- , ing £24,751 and 7 per cent, preference dividend amounts to £5600. i Taxes paid were £29,260 (against £35,162 last year), and with £63,574 brought forward the carry-forward is I £48,475, from which any further tax ' assessments will be met. The direc'tors report a material reduction in turnover. Stocks appear at £297,636, against £277,578 a year ago. WOOLWORTHS (N.Z.) PROFIT. Woolworths (N.Z.) Ltd. reports net profit of £85,337 for the year ended October 1, compared with £77,726 for the previous year and £94,612 in 1941. The increase of £7611 is sl-pwn after allowing £225.840 for taxation, a decrease of £7770. Ordinary dividend, which is payable on December 15, is steady at 10 per cent., requiring £62,260, and 9 per cent, preference dividend absorbs £3938, less New Zealand security taxes. Carry-forward is increased from £4B to £19,187. NATIONAL INSURANCE CO. Dunedin, Nov. 22. Speaking at the annual meeting of the National Insurance Company today. the chairman of directors, Mr. G. R. Ritchie, said that the premium income for the year was larger by £18,775 than that for the previous year. Losses generally were higher, but were not out of proportion to the increase in premiums. Taxation was still mounting, and had now reached a stage where for every £1 distributed to shareholders by way of dividends £2 was required to meet the demands of the Dominion and other Governments. The chairman added that in consideration of the good work of tha staff in face of wartime difficulties, the directors had again granted a bonus to all members of the company’s staff, both here and abroad, including those in the armed fore’es.