N.Z. PAPER MILLS, LTD.

Sun (Auckland), Volume III, Issue 660, 11 May 1929, Page 10

N.Z. PAPER MILLS, LTD.

NET PROFIT OF £11,033 After making provision for all bad and doubtful debts, for depreciation on plant and machinery, and for income tax, the annual report of the New Zealand Paper Mills, Ltd., for the year ended March 31, 1929, shows a balance available of £16.174. After deducting the interim dividend, paid on November 28, £4,500, there is available £11,674. The directors recommend payment of a dividend at the rate of per cent, for the halfyear (making 6i per cent, for the year), £5,250, leaving £6,424 to carry forward. The improvement in trade anticipated in the directors’ report last year was realised, and the company's plants at both mills were kept fully occupied throughout the year. Additions to plant at Mataura (including a new steam boiler) are now in progress to increase production there. Following is a comparison of the company’s results and appropriations for the last three years:— 1927. 1925. 1929. Brought, forward £5,030 £5,089 £s,lit Xet profits . ■ 9,059 9,052 11,033 £14,089 £14,141 £16.174 Dividend, p.c. . 6 § 61 Amount .. .. 9,000 9,000 9,i00 Carried fwd. .. £5,089 £5,141 £6,424

WRIGHT, STEPHENSON, LTD. NET PROFIT OF £37,576 A net profit of £37,576 is disclosed in the annual report of Wright, Stephenson and Co. for the year ended March 31, 1929. This amount with the balance brought forward from last year makes £71,649 available for distribution. The interim dividend absorbed £17,313. The directors recommend, in addition to the fixed payment on preference shares, a final dividend of -3a per cent, on ordinary shares, making 7 per cent, for the year. J The balance to be carried forward is ; £37,024. Following is a comparison of the com- i pany’s results and appropriations for the last three years:— 1927 1928. 1929. Brought forward £41,349 £33,465 £34,073 Net profit . . . . 26,562 35,144 37,576 £67,911 £68,609 £71,649 Dividends— Pref., 5 h p.c. . . 13,741 13,741 13,741 Ord., 7 p.c. . . 20,706 20,795 20,884 Carried forward £33,465 £34,073 £37,024

HIDE AND SKIN VALUES WELLINGTON SALE The fortnightly sale of hides, skins and tallow was held in Wellington yesterday. There was a total offering of 4,900 skins and 1,010 hides and calfskins. There was the usual attendance of buyers, and competition was keen throughout) the sale. The prices were:— Dry Sheepskins—Well-cared-for skins, suitable for export, were on a pi>- with late rates; pthers, Jd to ?.d lower* Halfbred, 12d to 12£d; fine crossbred, 9Ad to 123 d; medium crossbred, Hid to 33£d: coarse crossbred lOd to lid; half wools, 9d to 12td; quarter wools, 83d to llid; pelts, old to llld. Salted Skins. —Full, late rates. Pelts, none offering; quarter wools, 5s 5d to 6s 8d; half wools, 5s 3d to 8s sd; threequarter wools, 7s to 9s; full wools, Ss Id to 9s; extra large, none offering; lambs, 3s lOd to 7s 6d. Hides —Heavy ox, id to Id higher. Lights and mediums, on a par. Cow, Id to 3d lower. Calf, Id to Id lower. Ox, 331 b to 441 b none offering: 451 b to 521 b, S.id to Sijd; 531 b to 591 b, 7d to Old; 601 b to 691 b, 9 7-Sd to llld; 701 b and over, lOd to 11 5-Bd. Cow: 331 bto 391 b, 5 7-8 d to 7d; 401 bto 481 b, 5 7-Sd to 7 1-Sd; 491 b and over, 6 3-Sd to 7d. Kip: 251 bto 321 b, 6.? d to S 1-Sd; 171 b to 241 b, 5 7-Sd to Sid. Yearling: 111 b to 161 b, 7id to 9 5-Sd. Calf: 91b to 101 b. 8d to 916; 61b to 81b, 14d to 14|d; 11b to 51b, 6ld to 15|d. Tallow.—Unchanged: In casks, 28s to 30s; in tins, etc., 25s 6d to 30s. Sundries: Cow tails, 19d. DAIRY CHAMPIONSHIP SOUTH ISLAND AWARDS Press Association INVERCARGILL, Friday. The South Island championship in the cheese and butter classes at the Southland Winter Show resulted as ! follows: One case factory-made cheese, large, I coloured or white clieddar shaped, suit- I able for export: Waikouaiti Dairy Factory I (Otago), 1 ; Brown’s Dairy Factory I (Southland), 2; Omimi Dairy. Factory I (Otago), 3: Wright’s Bush Dairy Fac- I tory (Southland), 4. AUCTION NOTES Squirrell and Co., instructed by the I bailiff of the Magistrate’s Court, will sell I by public auction at their salerooms, Hall Q of Commerce, High Street, at 10.30 o’clock I on Monday, May 13, and following days, I the contents of a fancy goods store. The I stock will probably take about three days I to clear. George Walker, Ltd., will sell by auc- I tion at 54 Victoria Avenue, Remuera, pri I Thursday next, May 16, at 11 a.m., a fine I house of oak furnishings and general 1 sundries on behalf of Mr. J. Stackpole, I who is leaving for Napier. Messrs. Rutherford, Robinson and I Austin will sell at their sale rooms, Lister I Building, Victoria Street East, on May I 31, at noon, the freehold property situ- | a ted at 169 Parnell Road, on which is I erected a double-fronted shop and a I dwelling of five rooms; also a section, | Landscape Road, Mount Eden, part of Sir | James Gunson’s estate. | The Commissioner of Crown Lands will | offer for lease by public auction, at the I North Auckland Land Office, Government fi Buildings, Auckland, at 10.30 a.m. on fi Thursday, May 2S, 1929, three brick shops fi situated corner of Hobson and Wellington I Streets. Squirrell and Company will sell by H public auction, at the Central Garage. Victoria Street East, on Friday, May 17. I at 12.30 o’clock, a number of good used cars. The majority will be cleared to the highest bidder.