COMPANY AFFAIRS

Wanganui Chronicle, 30 October 1946, Page 7

COMPANY AFFAIRS

BOND’S INDUSTRIES. Approval has been given Bond’s Industries Lid.. Sydney, lor an issue o£ 110,000 ordinary shares of £1 each. The purpose of the issue, the directors state, .s to provide funds for the purchase of plant and the erection of buildings. I he shares will be offered to ordinary shareholders at par, in the proportion of one new share for every four ordinary shares held. FERTILISER PROFIT BEST SINCE 1930. The highest profit, since 1930 is shown by Cresco Fertilisers Ltd.. Adelaide, for the year ended .lune 30. Output increased on the year and current sales arc expected to improve further because of increased phosphate supplies. At £38,538 net profit compares with £3O.297 in 1945. Ordinary dividend is raised irom 3 to 34 per cent., and, with preference rates of 5 per cent, and 6 per cent., calls for £28.433. Cresco Fertilisers (W.A.i Ltd., earned net profit of £21,153, an increase of £6642. Ordinary dividend, raised from 4 to 44 per cent, and 5 per cent, preference require £15,975. NEW ISSUE OF SHARES PLANNED BY DAVID JONES. David Jones, Ltd.. Sydney retailers, intends to capitalise £lOO.OOO now standing in share premium reserve, by the issue to ordinary shareholders of 100,000 ordinary shares in the proportion of 10 shares for each 81 ordinary shares held, or fraction thereof. This was announced by the chairman, Mr. Charles Lloyd Jones, at the annual meeting. An extraordinary general meeting will bo held on November 7 to pass a resolution to permit the capitalisation. This iIOO.OUO, he said, represented the premium of 10/- a share paid by shareholders when taking up the issue of 2(H),00u ordinary shares in January. 1937 Net sales during the year increased by 27 per cent., he said. Expenses, including tax. increased by 1(5.96 per cent, over the previous year. Land and Income tax paid represented almost three times as much as the amount paid to shareholders in dividends. The company’s reserves now exceeded the paid-up capital. Of the total assets. 49 per cent were invested in building and plant and 51 per cent, in slock.