COMPANY AFFAIRS

Wanganui Chronicle, 8 November 1949, Page 10

COMPANY AFFAIRS

DOMINION PICTURES A net profit of £l7OO is shown in the accounts of Dominion Picture Theatres Co., Ltd., for the year ended September 30, compared with £1705 in the previous year. Unchanged dividends of 6 per cent, preference and 3 per cent, ordinary require £1667, leaving £5973 to be carried forward, against £5940 brought in. AUCKLAND GAS TO REDEEM DEBENTURES Two secured debenture loans totalling £200,000 are being repaid by the Auckland Gas Co.. Ltd., within the next two months. The company's E 5 per cent, debenture loan of 120,000 will mature on December 20 and will be repaid in that date, and the 4£ per cent. F debenture loan of £BO,OOO, issued on July 1, 1942, will be repaid as soon after January 1 as possible. OAMAKL WOOL. A net profit of £BB2O was earned by the Oamaru Worsted and Woollen Mills Ltd., lor the year ended September 19. The result, which was reached alter providing £2500 less for taxation at £16,500, compares with £BBO3 last year. Unchanged dividend of 7| per cent, requires £6375, leaving £2445 to increase the carry-forward to £14,686. The directors state £2OOO has been transferred from tax reserve to general reserve, bringing it to £31,000. NATIONAL BUILDING A net profit of £1043 was earned by the National Permanent Building Society of Wellington for the year ended September 30. This compares with £ll7l the previous year. The usual distribution of 4 per cent, on A shares and investors’ B shares is proposed. This requires £941, and there £127 to carry forward. Loans on mortgage total £28,251, and interest amounted to £1347. DALGETI’S EARNINGS Net profit of Dalgety and Co., Ltd., for the year ended June 30 was £250,800, against £246,300 the previous year. Preference dividend of 5 per cent, (less British income taxi takes £13,800. Unchanged ordinary dividend at BJd per cent, (less British income tax?— final 3d a share or 5 per cent—takes £70,100. As in 1947 and 1948, there is a bonus of 1 per cent., taking £B2OO. A sum of £125,000 is transferred to the contingencies reserve and £25,000 is transferred to the supplementary pensions reserve, these appropriations being the same as last year. Carry forward is £190,700 against £182,000 brought in. Dividends are payable on December 15 and the shares will be ex dividend on November 26. RETROLS TILE PROFIT A net profit of £1941/10/- after providing £1555/11/8 for taxation is reported by the . ctrous Tile Co. Ltd. Including £5542 carried forward from last year, the company’s profit and loss account shows a total credit of £7484 and the directors nave recommended payment of a dividend of <5 per cent, which will absorb £l5OO, leaving a balance of £5984 to be carried forward. Sales for the year were a record but the net profit was lower than last year. After providing £5465) for depreciation and meeting non-recurring expenditure to finance the expansion of the company’s activities, the directors are seeking the sanction of the shareholders to increase the company's capital to £50,000. MYER SUBDIVISION The Myer Emporium, Ltd., Melbourne, proposes to split each £1 ordinary share into lour shares of 5/- each. Paid-up capital is £2,479,950 in 1,725,000 ordinary, 655,450 9 per cent, preference and 99,500 staff partnership shares. The chairman, Mr. Norman Myer, said on Thursday that the ordinary shares were quoted on'the market at almost two and a half limes their par value of £l, and it would add to the convenience of buyers and sellers generally to split the shares into 5/-. It is proposed to convert both the ordinary and preference shares into the stock units of □/- and £1 respectively. DIVIDEND PAYMENTS Place D e velopment Ltd., Vancouver, is paying an unchanged half-yearly dividend of 25 cents (Canadian) a share, less absentee tax. on December 9. Anthony Hordcn and Sons, Ltd.: Ex Nov. 17. Swan Brewery Co., Ltd.: Interim, preference, 3 p.c.; ordinary, 6d. a share, or 10 p.c. •(last year, interim 6d., final 6d., bonus 2Jd); Australian Consolidated Industries, Ltd.: Interim, preference, 44 p.c.; ordinary, 4 p.c. (last year interim 4 p.c., final 5 p.c.); payable Dec. 15, ex Nov. 14. Tlniaru Worsted and Woollen Co., Ltd.: Annual, on shares fully paid at Oct. 19. 1948, 6i p.c. (unchanged i; half-year, new shares. 3 1-8 p.c.; payable Nov. 25, ex Nov. 10. Kauri Timber Co., Ltd.: Final, 3 p.c., plus bonus p.c., making 64 p.c. for year (unchanged); ex Dec. 1. Annual meeting, Dec.