IMPROVED RESULTS

Dominion, Volume 28, Issue 98, 19 January 1935, Page 10

IMPROVED RESULTS

N.Z. Refrigerating Co., Ltd. Results of the year's operations of the New Zealand Refrigerating Company, l td., for the period ended October 31, 1934, show a net profit of £90,952/11/6 —the largest since 1919. An increased dividend at 5i per cent, on the paid-up capital is recommended. The report of the directors, which will be presented to the 47th annual general meeting of shareholders on February 6, states that the balance available for appropriation as shown by the balance-, sheet is £124,170/4/2 (including the amount brought forward from last year of £33,217/12/8), which the directors recommend should be of as follows: —To pay a dividend of s}_per cent, ou the paid-up capital, £34.997/1/-; to transfer to reserve account, making this account £lOO.OOO, £40.000; to transfer to a reserve for rebuilding or extending works, £20,000; leaving an amount to carry forward, £29,173/3/3; total, £124.170/4/2. , ' . The company s results, and appropriations for the past three years compare as follow: — 1932. 1933. 1934. £ £ £ Brought forward 14.755 15.039 33.218 Net profit .... 254 79.994 90.952 Dividend, p.c. . • — 5 . 5J Amount — 31,815 34,997 To reserve .. . — 30.000 40,000 To rebuilding reserve — — 20.000 Carried forward £15.039 £33,218 £29,173 The company has a capital of £636.310 in 336.310 £1 shares fully paid, and GOO,000 £1 shares paid to 10/-. Customs Exchange Rates Rates of exchange ruling at the announced dates of departure of the vessels named are shown in the following table. They are subject to confirmation by the Customs Department when the exact time of departure is learned on arrival of the vessels in New Zealand, finally declared rates being marked*' :— Canadian Britisher, Canada, dollars 4.84 3-8 Benholm, America, dollars ~ 4.941-16 Aornngi, Canada, dollars 4.59 J Wailiawa. America, dollars .. 4.93 9-16 Golden Cloud, America, dollars 4.93 3-16 Brisbane Maru, Japan, yen .. 14d Monterey, U.S.A., dollars ... 4.913-16 14 VE STOCK MARKET. Reports of Feilding and other lije stock pales will be found on (Page 14.