Liquid Funds
p. 10 · Read in the full issue
Three Pacific Companies With Over 4½ Millions of Liquid Funds
A SUMMARY of the annual balance sheets of two of the largest com panies trading in the Pacific is published below. Both show some reduc tion of profit, but that probably is due to the Pacific war moving away northwards, and taking with it the supply of Ameri can dollars which created a little El Dorado for traders in 1943-44. Compared with the average over recent years, both companies are doing exceedingly well.
The amount of liquid funds available for investment in the Pacific Territories is worth noticing. If mad-headed govern ments do not crucify private enterprise, and if there is anything in the Pacific capable of development and marketing, there should be a good time ahead, after the war, for these big firms certainly have huge funds tucked away for use in any thing that looks capable of sound returns.
Here are figures showing the available funds (cash and investments in very safe stocks and shares) disclosed in these balance-sheets published recently:— Burns, Philp & Co., Ltd £2,933,734 Morris Hedstrom, Ltd 1.140.889 Burns Philp (S.S.) Co., Ltd. .. 577.841 £4,652,464 The fourth big Pacific company, W. R.
Carpenter & Co., Ltd., does not publish
its accounts until August or September.
It also has very large liquid assets.
This healthy total, added to the fact that the people of New Guinea and Papua (if ever they are allowed by the unpre dictable Australian Government to return to their Territory) will have substantial sums available from war damage com pensation funds, suggests that the Islands Territories, with plenty of developmental money and low taxation, may enjoy some thing of a boom.
Burns Philp & Co., Ltd.
A DECREASE of £22,754 to £203,817 is shown in net profit of Burns, Philp & Co., Ltd., for the year ended March 31. Details are as follows:
Year ended March 31. 1944. 1945. £ £ Net profit .. .. 226,571 203,817 Div., 10 p.c 200,000 To staff fund . . . . .. .. 25,000 Carried forward .. .. 35,101 38,918 Gross profit . . ,. .. 1.431,490 Expenses,«.etc. .. . . . . . 1.022.963 1,108,943 Depreciation ... 154,309 117,498 Bad debts, losses .. .. .. 21,358 1,232
Liabilities—
Capital . . . . 2,000,000 2.000,000 Reserve fund .. . . .. . . 1,250,000 1,250,000 Ins., res., etc . . .. 1,619,707 1,732,365