COMPANY AFFAIRS

Wanganui Chronicle, 5 November 1949, Page 2

COMPANY AFFAIRS

HHITCO.MBE & TOMBS Net profit of Whitcombc and Tombs. Ltd„ publishers and booksellers, Christchurch, for the year ended August 31, showed an increase of £15,742 to £41,383. A dividend uf 5 per cent., together with a bonus ol Id a shaic, equal to 3-6th per cent., was paid, which with £2Bl representing < per cent, on staff shares, required £20.698. Shareholders received per cent, in the previous year with a bonus o£ 110.000 which was applied to capital. A sum of £15,U00 was placed to reserve. leaving £3685 to increase the carry-forward to £21,857. Results for two years are:—

ALSTKALIAN PAI'ER Australian Paper Manufacturers, Ltd., Melbourne, plans to increase its output by mort than 50 per cent, above this year's figures, said the chairman, Sir Norman Brookes, at the annual meeting last week. The production of paper and paperboard will be raised tn 202,000 tons a year, which is about double the company’s pre-war production and five times that of 1930. To meet the expanded production programme. some 75.000 tons of raw material! will be required over and above those used at present. Part of this will come from the increased eucalypt pulp mill capacity. The remainder will be provided by greater tonnagef of imported long-fibre pulps and raw materials available within Australia, such af waste paper, straw, etc. Woodpulp production will be increased from 41.000 tons at present to 67.(XX) tons a year. Broken Hili South, Ltd., expected continue! prosperity in the current year, the chairman. Sir Alexander Stewart, said at this company’! meeting in Melbourne. Production was at t very satisfactory rate. Metal prices were high, and a three-year industrial agreement wlta employees had been made.

August 31. 1948. 1949. Brought in .. £17.506 £16.172 Net profit 25.641 41,383 £43.147 £57,555 To gen. res. —. 15.U0Q Io bldg, res — — Dividends— Ord., p.c lii 5 •Amount .. 16.075 17,781 Bonus . ~ jlO.OOU 2.91? Carried Iwd £16,172 £21.85? ‘Amounts inelude 6 p.c. on staff shares. fApplicd to capital increase.