SAME DIVIDEND

Dominion, Volume 28, Issue 107, 30 January 1935, Page 12

SAME DIVIDEND

Net Profit Higher J. STAPLES AND COMPANY The report and balance-sheet of .1. Staples and Co., Ltd., for the year ended December 31, 1934, to be presented by the directors at the annual meeting on February G, states that profit for the year, after making provision, for depreciation, bad and doubtful debts-, taxation and all current charges, is £15,393/5/4, J o this has to be added the amount brought lorward from the previous year’s accounts. £11.526/10/1, making a total of ±2b,9lJ 15/5. From this amount there was paid in August, 1934, an interim dividend of 2} per cent.,, amounting to £8750, leaving for appropriation £IS,IG9/15/u, The directors recommend that there be paid a further dividend of 21 per cent., making 5 per cent, for the year, absorbing £8750, and that there be carried forward the balance of £9419/15/5. The company's results and appropriations for the last three years compare as follow: —■ 1932. 19.33. 1934. \’et profit 14.630 12,908 15,203 Brought forward . 18,982 10,118 11,526 33,018 29,026 26,919 Reserve — — ~ Div., amount ..... 17,500 17,000 li.oOO Carry forward ... 16.118 11,526 9,419 The principal.items in the balance-sheet compare as follow:— 1932. 1933. 1934. Liabilities— £ £ ~ „ Capital 350.000 350.000 350,000 Creditors 2.40 S 2.419 1.603 Taxation reserve 22.501) 5.700 4,500 General reserve . 95,000 95,000 95,000 Bank overdraft . 1,525 — Assets— Freehold properly 224,508 219,840 215,116 Sundry -hotel assets 6,551 8,349 9,074 Sundry debtors, on mortgages, hills of sale, and current accounts' .... 40.985 40,768 39,607 Investments .. 224.067 2'00,096 200.096 Cash — 4,161 5,379 The directors regret to record the death -in August last of Mr. Alfred Smith, who had rendered valuable service as a director of the company for a period of over 12 years. The vacancy on the directorate was filled by the appointment Of the Hon. ■William Perry, M.L.C. The director to retire in terms of the articles of association of the company is Dr. P. F. McEvedy, who is eligible for reelection. and offers himself accordingly. The retiring auditors. Messrs. Wilberfoss and Harden, offer themselves for reappointment. DEALINGS ON ’CHANGE Yesterday’s Sales The following sales were recorded yesterday on the stock exchanges mentioned:— WELLINGTON. £ s. (I. Bank of New Zealand *2 10 3 Ditto 2 10 0 Ditto, D long term *1 » o Ditto, D long term 1 8 10 Ditto, D long term (4) 1 9 0 Union Bank, cum div 9 3 0 British Tobacco (Aust.) (3) .... ’1 19 0 WiUpn’s Cement 1 13 6 Big River »o 2 1 Worksop' o 3 o Goldfields Dredging 0 0 9 •Late sale Monday. CHRISTCHURCH. £ s. d. Inscribed Stock, 4 p.c.. 1952-55 105 10 0 Comm. Bank of Aust., cum div. (2) 0 16 5 Bank of New Zealand (10) 2 10 3 Ditto, D mort. (2) 1. 8 o Dalgety and Co. (3) s 12 6 West)mrt Stockton Coal, pref. . 0 3 6 Christchurch Gas, cum div. (2). 115 6 N.Z. Breweries 2 11 0 Anthony Hordern (2) 0 19 o Sun Newspapers (2) o 4 2 Big River o 2 31 Ditto 0 2 4 ’ Ditto (4) (i 2 51 Goldfields Dredging i> o o’ Kildare o 2 6 Mount .Lyell o 16 ;; Okarito I) 7 q Skippers (2) '. 0 0 0 Sales reported Reserve Bank 6 12 (; N.Z. Rofrig.. 19/- paid, cum .div. »n 10 2 Dominion Fertiliser 115 Worksop Extended 0 3 0 Big River 0 2 51 Unlisted :— Argo Gold. 10ld. paid 0 1 5 AVoolwortlis (Syd.), ord 4 9 6 n, tto 4 9 0 "Late sale Monday. DUNEDIN. N.Z. Insurance, cum div *3 II 0 Milburn Lime »o _•> l( Bank of New Zealand 2 1(1 3 pnil1 ’ eiln! l,iv - 11 1 Ditto, 10/- paid, cum div 0 10 1 Wright. Stephenson, pref 1 0 0 Unlisted :— Walpawa ' Beach 3 d. pi . el)L *£ate sale Monday, HEAVY TURNOVER Sydney ghare Market By Telegraph.—Press Assn.—Copyright. (Received January 29, 9.40 p.m.) Sydney, January 29. There was a heavy turnover on the Sydney Stock Exchange to-day, prices showing little variation. Sales: Commercial Bank of Sydney, ex div., £l7/8/-; Union Bank, £9/2/--National Bank, £5 paid. £6/8/-; Colonial Sugar, £4l/2/6; United Insurance, £l2 TO/ - , Australian Provincial Assurance, 11/3.; Australian Gas, A and B. £B/2/6; Newcastle Gas, B, 13/9. Britisli Tobacco. 39/6; Burns Philp. South Sea, 27/6; Australian Iron and Steel, pref., 24/4J; Australian Glass, 64/6; Dunlop Ferdriau, 19/101; John McGrath, 35/3; Amalgamated Textiles. 10/9; Morris Iledstrom, 19/3; Henry Jones, New Zealand delivery. 36/9; Anthony Hordern, 19/4-J; ditto. pref.. 26/11; Lustre, 28/3; Tooths. 51/--Too.heys, 30/41; Goldsbrough, Mort. 30/-; Wilcox Mofflin, 10/4: MiUnqnin Sugar. 37/-. Mount Morgan. 40/3; Placer Development! £27/5/-; Kuala Kamptir, 13/11: Zinc Corporation, 30/-; Euratha, 7/4. Commonwealth bonds. 4 per cent . 1938 £lO4/3/9; 1941. £lO6/5/-; 1944, £lOB J 1947. £lO9/15/-; 1950, £lll/11/3; 1953, £110; 1955. £llO/7/6; 1957. £llO/12/6; 1959. £111; £1961. 1111/10/-. . Morning sales included: Commonwealth bonds. 4 per cent.. 1938. £lO4/7/6 ; 1944, £lOB/2/6; 1947. ClOO/17/G; 1953. £110; 1955, £llO/6/9; Tooths, 51/-; Anthony Hordern, 19/ii, Associated News, 24/1 -J; Howard Smith. 17/-; Lustre. 28/3: Morris Iledstrom. 19/3, Melbourne. January 29. Sales on the Melbourne Stock Exchange to-day included: Commercial Bank of Australia. 17/-; ditto, pref.. £lO !/•; Herald and Weekly Times, 57/9; Howard Smith, 17/2. 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 oh arrival of the vessel in New Zealand, finally declared rates being marked* :— Waikawa, Canada, dollars *4.89 AVaikawa, America, dollars *4.94 Golden Cloud. America, dollars 4.93 3-16 Brisbane Maru, Japan, yen l id. Ardenvohr, America, dollars .. 4.91.7-16 Canadian Scottish, Canada, dollars 4.00 5-8