COMPANY NEWS.

Press, Volume LXVII, Issue 20176, 3 March 1931, Page 10

COMPANY NEWS.

OVERSEAS OPERATIONS. The following report# of the operation* of overseas companies are to hand:. - At the half-yearly meeting of thei Foster Blowing Company, Limited, to bo held on March 11th, the directors will recommend .a dividend of 6 per cent, and a of 6d. a share for the six months ended January 81st. Victoria Nyansa Sugar. In its operations for the year ended April 80th last, the Victoria Ltd., before providing for depreciation, shows a profit of £75,575, compared with £70,342 for the previous brought forward, there:is available £78,f»4.. Interim dividends paid, making 10 per cent. for the 'yeari'.-absorbed'£3o,ooo. A_sum of £16,000 is - transferred to reserve, £20,672 is written off for"depreoi(ition against £17,001 j for 1928-1929; and £i4,262 ja earned fonvard. I Jn the previous- year 'dividend was 15 per . I cent. In their .'report * the djreotors state , I that owing to the firianoial position through- | out the world, which is'alao affecting East i Africa, they. are. conserving the_ company s i funds as much as possible.lt is no,t pro - , posed to pay any further- dividend for the i year above the interim dividend of 10 ".per cent, already declared* The general "manager states that 6215 tons 'of sugar were manufactured for the season. < Cane crushed w»a 72,427 tons, of . which 85,494 tons was purchased frojji' farmers'. The estimate.of cane available was 92,<100 tons, against 72,472 toijs. crushed. His-estimate of cane: available for T 11930-1931, season is 100,000 tons,; of which 40,000 tons on' outside farms. jr. 0: Williamson Prospects. The chairman (Mr IT. J,.Smith)'told share-' bolder of J. C. Williamson, Ltd., at the annhal"faceting' last week, that the company's ldases were due 1 to the competition of. the "talking" pictures, and the general - depression. Affairs had taken a turn for _tha i better this year, however, and ■■ the ■ indiea-, i tion* were that the legitimatetheatre was [ swinging into publio favour agailS !.■■■■: Worth Broken Hill. , .

In consequence of the continued low price* of metals, the directors of North Broliin Hill. Ltd,, jwmounqe that they are unable to .declare..#! dividend ior'-the, quarter jading Much-'Blst. 'JTJiiij will be theifirst interruption fojf teight' yetor to the •Uvidend dirtribsion»... quartejr. the' j sew compttiiyj JJensnil naid Hbldena, Ltd. tThe directors' circular to- shareholders Hbldena Motor Body Buildew, joints out that iin imsortant feature refers security oh the 6 per cent. ■ preferThe Auditors report " that in the combined company the 'cover't for those £hsrei» Alll bo £3 6« 103 •of'i*s«to ijorj ejudr-preferimwe ehare m >at December iflJat the • director* have' xsbtaiii^rifo 1 that' - at*- bo future d imtf 1 ' wfll 'tale t f proportion of preferper cent. General .Motors has-insisted tins, its /director* «haQ "be' substantial' holders of ordinary chares is the combined -com? psny. Motors, therefore, obtained -an'' tmd?rt»kit« u town„ * iha- directors ,of Holdenß to cqnvert.all, theix holding of the <5 ■ pet- eent.. preference" aKare:i, which tf\oy will- receive' it* ■ the combined compapy,' into ordinary- shares. * 1 ; ; ".