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Gisborne Times, Volume IX, Issue 825, 13 February 1903, Page 1

“ One hundred pci 1 ce-* " able dividend 1 IT ' ' is an agreecolumn’" 1 ...uiortunately it is not a ’ .. one. Put it bus come to the lucky shareholders of one company. A London paper, referring to the matter, might well remark: “ Cold storage, as those who have followed the fortunes of the South African Supply and Cold Storage Company know, was a very profitable business'during the war, and, judging by the remarks of the chairman at the third aud last annual general meeting, held on Monday at Winchester House, it is likely to continue so in the future. It was, said Sir James Sievwright, in .Tune, 1899, that the company was formed, and since then it had been able to distribute 100 per cent. This was followed by £2 per share, aud to-day they proposed to distribute a further £2 more. This, with the shares which the shareholders would receive in the new trust, gave them something between £ll aud £l2 per share, upon which he thought they could congratulate themselves. On February 27, 1902, the company sold its goodwill as a going concern to the South African and Australasian Supply aud Cold Storage Company. Since March 31 the company’s profit had onlybeen £379,258. This was due to the rinderpest. However, as the result of forming subsidiary companies, and the sale to the South African and Australasian Supply and Cold Storage Company, there was a total of £1,066,982, to which was to be added £44,463 ‘ carried forward,’ and £1,000,000 previously standing to the credit of the reserve fund, making a total of £2,113,445, Deducting the amounts paid, there was £1,325,828 out of which the directors recommended the present dividend of £2 per share." Kain and heavy winds have caused sad havoc and rust is rapidly making its appearance in all the crops in the Palmerston district,