Carpenters' Cautious
p. 10 · Read in the full issue
Trading Firms'
Profits
Carpenters' Cautious Policy
DURING the month, shareholders in W. R. Carpenter and Co. Ltd. re ceived the following circular, dated February 27: “Owing to the uncertainty of the war position in the Pacific, the directors have considered it inadvisable to declare the usual interim dividend payable in March, and have therefore decided to deal with the full year’s figures at the annual meeting m six months’ time, when the position may be clarified, particularly as to the nature of the regulations relating to the limitation of dividends.
“The directors, however, wish to re assure shareholders that, notwithstanding the losses and damage sustained in the Islands, they consider that the capital of the Company is satisfactorily protected.”
At one time, most of the Carpenter assets were in New Guinea: and, had that arrangement continued, the firm would have been obliged to suspend operations.
During the past 10 years, however, the firm, while still holding large interests in New Guinea, has extended its activities into several other Territories and fields of industry, so that, to-day, although New Guinea, Solomons and Gilbert and Ellice are evacuated, its operations can continue actively elsewhere. Nevertheless, the now widespread character of the Pacific war must seriously affect the turnover of all the Pacific trading firms.