NEW SOUTH WALES BANK

Sun (Auckland), Volume I, Issue 215, 30 November 1927, Page 14

NEW SOUTH WALES BANK

PROFITS OF £1,226.247 DIVIDEND OF 12J PER CENT. Bu Cable. —Press Association —Cop„ rip nt. , Tue-dav, The annua 1 meeting of the - New South Wales was hold to -d v The report for the year ended S-r.tei ' ber 30 showed that the net p.pt "s' after the deduction of various chart'were £1.226.247, to which i.«< added undivided balance at 1926. £171,925. Interim dividends t the rate of 10 per cent, p.-r nnum*Y» for the quarters ended i>c. . ;u j , a March and dune absorb'd leaving a . balance of £ss2. '.47. * The directors recommended payniof a. dividend at the rat* of fn * 30. absorbing £ 155.556. and bon - Q f 10s a share: augmentation of the" reserve fund’by £340.760. leaving a ball ance to be carried forward of £ l ?.i - —A. and X.Z. For the third year in succession, bank is paying a dividend of cent. During the past year, its has been increased from' £6.000.0d0 ta £7.;>00.000. From March 2?. it sh«.. r the Western Australian Bank, which lad a paid-up capital of £700.00*. Its share holders received 43.750 fullv-paid oo n shares, £575.000, in the Bank o' nV w South Wales in respect of which a dividend of 20s was paid in May. Shortly afterwards, the bank issued 31,250 shares at par to its existing shareholders including those brought in by the amalgamation. ayments fer these* shares were due in July. October. January and April and thev ranked pro rata for subsequent dividend*. COMMONWEALTH LOAN ONE-QUARTER SUBSCRIBED PUBLIC SURFEITED By Cat Is.—Press slssc elation.—Copyright, LONDON, Monday. The underwriters receive 75 per cent, of the Commonwealth loan of £ 7,000,0Q0. The City editor of the “Daily Express’* expresses the opinion that there has been a surfeit of Australian loans in the last few’ months. The average investor likes to spread his capital. The underwriters will not be in a hurry to get rid of their liability, as it is certain a demand will arise before long. The present discount of the loan scrip is merely temporary.—A. and X.Z.-Sun. The loan comprised 5 per cent. 194575 stock issued at 97J. A similar issue also .of £7,000,000 was made in Julv and of this 90 per cent, was left In the hands of the underwriters COMPANY REGISTRATIONS Yesterday two private companies were registered in Auckland. Details areWaitakere Ranges. Limited. Objects* To carry on the business of builders and contractors, etc. Capital: £SOO. Subscribers. Anthony Petrie. 400 shares, and Rita E- Petrie, 100 shares. Nobles, Limited. Objects: To carry on, at Kaitaia, the business of drapers, etc Capital: £6,000. divided into £1 shares Subscribers: William H. Atkins, Alexander Logan Leonard A. Mclntosh, John B. Reynolds and George Rickard, all of Kaitaia, 1,200 shares each. MINING NEWS OCCIDENTAL-UNA.—The crosscut to intersect the No. 1 reef going north has been advanced 10ft for the week, making a total distance of 83ft. The last round of holes fired exposed the foot wall portion of the reef; no quartz has be*n broken. Going south the drive to connect the rise with the main travelling wav has now been advanced 20ft and the quartz broken from here shows nice dabs of gold. Stoping has been continued on the dropper with good results. MAORI LAND. —The mine manager reports: “During the week stoping operations were carried on above the intermediate level. The reef here is 2 feet 6 inches in width and some nice samples of stone showing gold were seen when breaking the reef, as was reported by telegrams on Wednesday and Thursdav. The block now being worked is 5* feet in length and the backs extend to the surfpc:e. The lode is still showing on the north end.*’ , ALBURN I A.—The manager reports as follows: “Going north on the dropper has been driven a further distance of 15ft, making a total distance of 65ft in this dileader continues to show a width of_ ISin. and the prospects here for meeting with good values are most promising. Driving south on the “Sons* of Freedom” reef was also in hand, a distance of 12ft having been driven for the week, making a total of sSft to date. The two . leaders we are driving on still carry a small band of mullock between them. The total width of these two leaders continues to be about 24in. Gold has been s ® en in both these leaders this week lot tfie first time. The country rock is now carrying a fair amount of strong mineral seanas of the right class to make good values.’.* -