BYCROFT, LIMITED

Dominion, Volume 33, Issue 189, 7 May 1940, Page 10

BYCROFT, LIMITED

Increase In Profit A further improvement in earnings is recorded in the accounts of Bycroft, Limited, for the year ended Marell 31. Net profit was £11,734, an .increase of £725 on the previous year. The dividend is maintained at 8 per cent, per annum (4 per cent, final), but the distribution requires more, owing to the increase of capital from £l2-5,000 to £150,000, which became effective during the year. Recent results compare -as follows : — 1938. 1939. 1940. Bi. forward .. £3,076 £3,642 £4,651 Net -profit .... 10,666 11,009 11,734 £13,64'2 £14,651 £16,385 Dividend. 8 p.c. 10,000 10,000 fl 1.606 Car. forward . . £3,642 £4,651 £4,779 fDistribuition on larger capital. The balance-sheet: total is £4-3,504 higher at £283,066. Gross trading profit was £77,84-7, against £75,967 a year ago, and expenses, including directors’ fees, totalled £60.548, compared witli £65.211.

Gold Mining Returns The Ango dredge returned 40 ounces for 117 hours 'from 10,'500 yards. Mossy Creek dredge return is 27 ounces lldwt. from 3199 cubic yards worked in 133 hours. Golden Sands return was 35 ounces for 72 shifts. Addison’s Elat reports for the fortnight ended April 25, recovery of 22 ounces tn 23 shifts. Thirteen shifts were occupied in stripping overburden. (By Telegraph—Press Association.) DUNEDIN, May 6. The Gillespies Beach return for the two weeks ended May 4 was 59 ounces 14dlwts. for 242 hours, from 30,080 yards. For the week ended May 3 the Clutlia River dredge operating at Alexandra worked 102 hours for a return of 45 ounces. Alexander Mines Report Alexander Mines, Limited, has. issued the following mine report for the month of April No. 6 level: Driving north on a promising reef track was commenced about 40 feet back from the end of the drive. Tire faice has been advanced 46 feet in very soft and -broken country, witn very little water. Quartz leaders are being followed, but. assay values that were 'taken are not yet to hand. Stoping has been carried on in three faces above No. 6 level, and above No. 5 intermediate level. Average width of reef 30in. A considerable amount of tilling was done in the stopes above No. 5 intermediate level by driving into the walls of the stopes. A total of 165 tons of ore was transported to the battery for the month.

New Zealand Exchanges Telegraphic rates of exchange. New Zealand on the overseas centres mentioned, were quoted yesterday by the Bank of New South Wales as follows: —

AUCTION DIARY TODAY. Matuwhero Saleyards, Gisborne, 10 a.m. — Mixed Stock. On Farm, Napier Road, Whakerongo, 12 noon. —Clearing Sale Dairy Herd. Dorses, Implements, etc. (IJnlgety and Co.). At Orangl-Kaupapa ltd., 1.15 p.m.—Furniture (E. John st on). Showgrounds, Palmerston North, 12 noon.— Sale “Grinton” and “Tumnnako" Pedigree Pigs (N.z. Loan & Mercantile, Wright, Stephenson & Co.). Levin, 11.30 a.in.—Mixed Stock. 01 Dixon Street, 1.30 p.m.—Contents o£ Two Houses (C. W. Price). TOMORROW. Taihape Autumn Cattle Fair, 11 a.m. —2000 Cattle. Johnsonville Fat Stock Sale i p.m. 113 Tinakorl Road, 1.30 p.tn—Sale Property and Effects, acc. Guardian Trust (Dunbar Sloane Ltd.),

On. Buying. 3.2542 Selling. New York, (lol. to £ N.Z. 3.2050 Montreal, dol . to £N.Z. 3.(5039 3.5290 Belgium, bel. .. to £N.Z. 19.421 18.930 France, frs. ... to &N.Z. 142.01 140.70 Greece, drac. .. to £N.Z. — 424.70 Holland, florins to £ N.Z. G.154 5.9154 Italy, lire .... to £N.Z. —— 52.00 .lava, florins .. to £N.Z. 0.130 3.1)10 Switz’land, frs. to £N.Z. 14.532 14.180 H. Kong, N.Z.d. to dol. India and Coylon, N.Z.d. 18i 18 59-04 to mp 22 5-32 22 49-34 Japan, N.Z.d.to yen .... — 21 23-04 Manila. N.Z.d. to peso .. 36 9-1G ,t i Shanghai, N.Z.d. to dol. 4 49-61 N.Z.d. to dol. 34 41-04 35 41-61