GAS REPORTS

Evening Post, Volume CXVI, Issue 24, 29 January 1934, Page 12

GAS REPORTS

AUCKLAND'S YEAR Accounts of the Auckland Gas Co., Ltd., for the year ended December 31, 1033, show an increase in the net profit of* £4890 to £71,979. This compares -with £78,816 earned in 1931. The amount brought forward from the previous year was £967 10s 9d, making available £72,947. An interim dividend of 2% per cent., paid in August, 1933, absorbed £30,936 10s, and £10,000 has been transferred to income tax reserve account, leaving £32,010 10s. The directors -recommend the payment of a final dividend of 2% per cent., niakjng 5% per cent, for the year on both the fully-paid £1 shares and the contributing 15s paid shares. This will absorb £30,936 13s 6d, and the carry-forward is £1073 5s 4d. The directors state the income tax reserve account now stands at £55,000. The retiring directors are -.Messrs. E. K. N. Russell and J. A. Peacocke, both of whom are available for re-election. The following is a comparison of the company's results and appropriations for the past three years:— • 1931. 1932. 1933. £ £ £ Brought ford 40,683 40,752* 968 Net profits .. 78,816 67,089 71,979 £119,499 £107,841 £72,947 Income tax reserve .... — £45,000 £10,000 Dividends ... 7 5% 5% Amount £78,747 £61,873 £61,873 Carried ford £40,702 £968 £1,074 •£40,000 of this sum was transferred during the year to income tax reserve. NAPIER RESULTS The directors of Napier Gas Company report for the year ended December 31 that an interim dividend of 2%- per cent, per annum was paid last August on preference and on ordinary shares absorbing £2617. The balance at credit of profit and loss account is £9292 15s lOd, compared with £7104 for 1932. Out of this 'amount the directors recom- ' mend the payment of a further dividend ' of 2% per cent, on preference and ord- : mary shares, £2617. Leaving a balance of £6675 15s lOd. Out of which they ! propose to transfer to reserve fund (invested in plant) to bring the fund up !to £6000, £2361 Is 6d. Leaving to be > carried forward £4314 14s 4d. The total gross /revenue is practically the s<fme as last, year. Expenditure, after reserving £1300' for income tax (for which no provision was required last year), is £548 less. The retiring directors are Messrs. A. D. Brown and P. Thorp. Both offer themselves for re-election. The directors deeply regret the death 1 of Mr. F. Logan, who became a director | in 1901, and' was chairman from 1915 to 1932. Mr. F. Thorp has been appointed to fill the vacancy created. No dividends were paid for 1931, the [ year of the earthquake, and the loss by that disaster was £10,831. ', STILL MOKE GOLD AMERICAN PURCHASES ' United Presi Association—Bj Electric Teleirapn— Copyright / '' . LONDON, January 27. ! America again purchased the whole ; of £525,000 worth of gold offered today. 1 The price of gold is 132s 8d per fine oz. j 1 This brings purchasea of gold in London t on American account since January 17 i up to £8,175,000. in sterling. 1 The course of the fine gold market is ; shown in the following returns as already . published:— •' ■ 3 -i " Per oz. • i. d. i fanuary 26 132 8 January 25 132 1 January 24 132 10 ! January 23 132 0 January 22 132 11 January 20 132 9 January.l 9 13210. January 18 132 10 'January 17 13! 6 - January 16 131 9 January 15 128 6 f January 13 127 11 c January 12 < J27 0 c January 11 .. 127 1 y January 9 ■».'............ 126 8% r January 8 '.. 126 8 ;- January 5 127 6 c January 2 127 6 December .28 126 3 c December 6 ... .....12611 •X November 2 ............. 133 9 s October 3 . (record) >■ 134 8 s DOLLAR APPRECIATING ;- United Preu AisocUtlon—By Electric Telee jrtpb—Copyright. f • LONDON, January 27. :" Sterling exchange, London on New York, J] is unchanged at 4.97% dollars. . - -.. Simultaneously .with these recent pur- ], chases of gold the United States dollar has 3 . improved as against sterling as the folj lowing table of rates of exchanges will j' indicate:— d Dollars to £1. c ■ January 26 • <............. 4.98 • it January 25 ........ .... 4.98% ie . January. 24 ,5.00% „ January 19 5.05 n ' January 18 5.03% 3 . January-17 5.13% !S January 16 5.08% n January 15 .5.11% January 13 5.09 IQ January 11 5.11 ir 'January 8 5.09 j January S 6.14 a January 3 .... ...; 5.16/* Z January 2 5.17% I December 6 5.16% II November 22 5.44% » I November 16 (record in ly recent years) 5.50 ° November 1 4.78% *' October 2 4.78 e> September 5 4.60 a' August 2 4.43 July 19. : 4.82% g. The par value of the United States dollar 3r with sterling is 4.86 2-3 dollars. Df FRANC AND STERLING. s . United Press Association—By Electric TeleX l graph—Copyrinht. 's, LONDON, January. 27. )y Sterling' exchange on Paris is 79 15-lf et francs to £1. m, ——. at The rate on January 25 was 80, and or it- January 24 it was 79 5-8 francs to £1 re The par value of the French franc is 124.2! to £1. Ol; DIVIDENDS DUE. Ed . .+ Due. " Commercial Banking Co., of Sydney— ? n Interim at rate of 5 per cent, per il annum Jan. 31 sd Australian Provincial Assurance—lVi th P«r cent, per annum ~ Jan. 31 British Tobacco (Australia)—lnterim ; preference, quarterly, 6% per cent. "' per annum (less property tax) .. Jan. 3 ln Union Bank —Interim at the rate of 4 ly per cent, per annum, free of Eng>E- lisa Income tax, equal £2 9s id or per cent Jan. 3 a Alillaquin Sugar (Sydney)—lnterim at 6 per cent per annum Jan. 3 Farmer and Co. (Sydney)—half-yearly, — Ist preference, .6 per cent, per annum: 2nd preference 7 per cent. per^annum Jan. 3 e jj Commercial Bank of Australia—interim; n t preference at rate of 4 per cent. \ per annum; ordinary at rate of 5 . 1'1 per cent, per annum In Australian Je- , currency Feb. : Wellington Trust, Loan, and Investment ~ Co.—final 3 per cent., making 5% D., per cent per annum Feb. : iy. X.Z. Refrigerating Co.— i per cent, and 7 6i bonus 1 per cent Feb. ° Christchuch Gas—final, 3 per cent., making In all 6 per cent, per annum Feb. '