“A BRIGHT OUTLOOK”

Sun (Auckland), Volume 1, Issue 77, 22 June 1927, Page 2

“A BRIGHT OUTLOOK”

SANFORD ACTIVITIES DIVIDEND OF 7 PER CENT. The outlook for the future of Smford. Ltd., is bright and sounci, «ttiw the directors’ report of the compel!*, to be presented to the annual masting of shareholders, scheduled for June 30. Expanding busineee W made necessary the expenditure of considerable capital, on a new trawler, and additions to the company* freezing and fertiliser plant. In some respects, states the report the year just passed through had been as favourable as had been anticipated. During what was anowi as the “school fish” season (Novom* ber to January) the Government imposed further restrictions on trawflw and seine fishing, with the result there was a shortage of fish dun® the months when supplies were usua_ plentiful. Working costs been higher owing to wages to shed hands and to the c of trawlers. fuf The net profit for the providing for depreciation, ** as £11,377 16s 3d, and amount brought forward “ rom ., v )e year, leaves £12,084 19s 3d av for distribution. The direetjj a s commend that it be dealt . follows: Provide for interim*** of 3£ per cent, paid in j, £4,375; pay a further dividend per cent, £4.375; reserve for w t . tax, £2 000; leaving £t,e*4 1! ” carry forward. PAST PROGRESS

MINING NEWS KORANUI .—Reporting, ending June 18 the r“’ r^S rin | cl The cleaning old battery level has been e a total of 539 ft. from {aß * has been all broken dow g,® with mullock, but we ► level again, so better beinf 09 made. This is the only worn in the mine this week. ALBURN I A—The nianager^s?^*^ follows:— Driving on the wJJ portion of the °rla-ndo Ree ltft ari commenced and a 6istanc J(I ilB The band of ore in this drive » co lP<£ age width of 15 inches- !.► rock and the appearance more PI that can be desired A IR«* ■ has been seen in the ore r ng w t. has every appearance of m Th u values. Western CrosscuL IJ(a Tkbeen extended from l ß 2ft. j> ar ' of v drive is now let on the < week was occupied ll "J r ? he Inter®*, pipe line. Sloping a ,r r ,, r t inued- \ e ; ate: This work has been c» ut hert> little work was done l “ e ve been ** of the stope, where we bav w istied . ting the best » tb»*2 carry the north end high . Jeve i. Tk whole stope would be on arm* “7 work will not he complete stat , next week. lam please . r c>e ** the values here 1°. 1 £ littl* stope advances overhead. duriMr » stone having been secur t l e ru n of $T r week, this showing *^ r i. procM 4 *-?! is lengthening as the work P h«t* ore which is being br ‘l k ' n t hat being saved for treatmenu a.s v» is being broken from the branch of the Orlando a

A comparison ol the last thr* years’ returns is as iouow®. 1924- l9 "?' 25. ~r T £ * Brought forward 5,45*0 u.1” Net profits .. . • 8.298 1S,W? H# Dividend p.c. Amount .. • 7,727 8.7W £ Is* Income tax . . - • ’707 carried forward