COMPANY NEWS

Press, Volume LXXII, Issue 21886, 12 September 1936, Page 12

COMPANY NEWS

G. I. COLES

The following cablegram was received yesterday from G. J. Coles and Company, Ltd., Melbourne, by the Associated Stock Exchanges of New Zealand; —

“Meeting of directors of G. J. Coles and Company, Ltd., held to-day, when, petition presented to directors on behalf of hundreds of shareholders representing approximately one-third of total shareholding, asking that present differences be settled immediately. “A request from manager and all members of staff throughout Australia, expressing desire for immediate settlement of dispute, was also received. Basis of. settlement requested in all cases was as follows: “That Mr G. J. Coles be re-elected chairman of the company. “That Mr A. W. Coles be reappointed managing director. “That two provisional directors be appointed to board to represent outside shareholders. “In future figures relating to directors’ remuneration to be open to shareholders. “As this appears to be the wish of the majority of shareholders, the directors are endeavouring to settle the dispute on these lines. “Messrs A. W. Coles and F. P. Derham fully support the wish of the shareholders in this matter.’’ MILNE AND CHOYCE [THE PRESS Special Service.] AUCKLAND. September 11. The accounts of Milne and Choyce, Ltd. for the year ended July 31, show a net profit of £343. against £10,256 earned in the previous year, and £10.851 in 1934. The report states that the reduction in profits is due to non-recurring adjustments. and a dividend of 4 per cent., against 34 per cent, on ordinary shares and debenture stock is recommended. With £34,800 brought forward. £35,143 is available. Dividends at 6 per cent, and 7 per cent, on ’preference shares, together with the ordinary and debenture stock payments, require £10,590. leaving £24,553 to be carried forward. The directors report that the balance of business shows an increase, and is the largest since 1931. K.D.V. BOXES [THE PRESS Special Service.] AUCKLAND. September 11. The third annual report of K.D.V. Boxes. Ltd., for the year ended June 30, discloses a net loss of £8405, against profits of £4806 and £2414 respectively in 1935 and 1934. A dividend of 8 per cent, was paid in 1935, but there is no recommendation this year.

BANK OF ENGLAND RETURN (samsa official wibeless.l LONDON, September 10. The following is the return for the week ended September 9; — ISSUE DEPARTMENT £ Notes issued— In circulation .. .. , 445,600,000 In banking department .. 60,900,000 £506,500,000 Government debt .. .. 11,000,000 Other , Govt, securities .. 247,600,000 Other securities .. j .. 1,000,000 Silver coin .. .. .. 400,000 Fiduciary issue • .. 260,000,000 Gold coin and bullion .. 246,000,000 £506,500,000 BANKING DEPARTMENT £ Capital .. .. .. 14,500,000 Rest .. .. .. 3,700,000 Public deposits .. 20,400,000 Other deposits— Bankers .. ~ 99,800,000 Other accounts 37,800,000 £176.200,000 Government securities .. 83,300,000 Other securities— Discounts and advances .. 10,600,000 Securities .. .. 20,100,000 Notes and coin .. .. 62,000,000 £176,200,000 Money Market—The Bank of England rate of discount is 2 per cent. (June 29. 1932).

DIVIDENDS DUB The following dividends have been announced or recommended:— Komata Reefs—3d a share .. Sept. 12 Melbourne Co-op. Brewery—quarterly at 20 p.c. p.a. .. Sept. 15 Adelaide Steamship—final 3J p.c., making 6 p.c. p.a. .. Sept. 15 Mason, Struthers—Final, 3 p.c. P.a. •. .. .. Sept. 16 Gillespie’s Beach—ld a share .. Sept. 16 Huddart, Parker—lnt., pref.. 3 p.c., ord. 31 p.c. .. .. Sept. 17 Broken Hill South—Quarterly, 2s 6d a share ~ .. Sept 18 Kaiapoi Wool—Ord. 5 p.c. and pref. 5 p.c. .. ~ .. Sept. 19 North Broken Hill—Div. and bonus 5s a share .. .. Sept 20 N.Z. Drug—lnt. 3i p.c. .. ... Sept! 21 Renown Collieries—Ord. lOd, final pref. at 7 p.c. p.a. .. .. Sept 21 Auckland Farmers’ Freezing—6 p.c., p.a. .. .-. .. Sept. 25 North Broken Hill—Div. and bonus 5s a share .. - .. Sept. 23 Hume Pipe (Aust.)—s p.c. .. Sept 28 IDunlon-Perdriau Rubber—s p.c. ord., and final 5 p.c. pref. Sept 30 Brit : 'h Tobacco—Quarterly, 2 PC- • • • - .. Sept. 30 , Lincoln Mills—s p.c. pref. and at 4d a share 0rd....’ .. Oct 2 Bank of A’asia—lnterim, 3s 6d a share .. .. .. Qct. 2 PRICE OF SILVER LONDON, September 10. Spot and forward silver are quoted at 19Jd a fine ounce.

COMPANIES REGISTERED The following company registrations art - notified in the current issue of the cantile Gazette”:— First City Estates. Ltd. . Registered August 26. Office: Nisbet House, MS Hereford street, Christchurch. Capital: £15j009 , into shares of £1 each. Subscribers: Christchurch—T. N. Gibbs 1000. P. Gill ■W. J. K Sedgley 500. K. Spilhme 26$®!.’ Spillane 200. £. Milburn 400, J. H. Hudsoq, 100. Objects; Land, estate, and commie*'*■ slon agents. Bishop and Company. Ltd. Begistecei|<! J as a private company August 27. Office:.s 111 Armagh street. Christchurch. Capita]! - £II,BOO into shares of £1 each. Subscribed? Christchurch—W. H. Meyers 11,550. D. IT. Meyers 250. Objects: Acquire busings, together with stock, plant, property, aid* assets hitherto carried on under the name of Bishop and Company, wine and spirit merchants, etc. Pioneer Manufacturing Company, Ltd. Registered as a private company August 31. N Office; 176 Hereford street. Christchurch. Capital: £IOOO in shares of £1 each. Subscribers: Christchurch—F. ETwyford 800. C. G. Parish 100, B. L. . Laurenson 100. Objects: Manufacturerstoi pickles, sauces, chutneys, spices, and condiments of all kinds. . •! Dawson’s Hotel, Ltd. Begistered Septem- . her 1. Office: Norwich Chambers, comer , Manchester and Hereford streets, Christ- s church. Capital: £5500 into shares of £1 - each. Subscribers; Christchurch—P. - & i Bailey 1000. H. .W. Swallow 1000. H. Bames f 250, C. S. Barnes 50. A. B. Jacobson L f K. Burt 1, L. Neale 1. Objects: Pinc-Ai chase of property and buildings at Beef- t‘ ton, and to carry on business of hotel - proprietors, etc. i.

GOVERNMENT SECURITIES (XJ KITED PRESS A.SSOCIXTIOK —COPYRIGHT.) LONDON, September 10. The following are the latest quotations for Government securities compared with the prices ruling last week:Sept. 3. Sept. 10. £ s. d. £ s. d. British— Consols 84 15 0* 85 0 0 ■ Funding Loan, 4 per cent. 118 10 0 118 15 0 War Loan, 3J p.c. 107 5 0 107 5 0 ■ Con. Loan, 3i p.c. 107 5 0 107 5 0 Victory Bonds, 4 per cent. 115 0 0 115 0 0 Comm on wealth— 3 p.c., 1945-75 111 5 0 111 13 9 3 p.c., 1955-58 102 2 6 102 2 6 4 p.c., 1943-48 106 2 6 106 7 6 3| p.c.. 1948-53 w . 104 1 3 104 1 3 3j p.c., 1936-37 .. 99 15 0 99 17 6 3 1 p.c., 1958-60 .. 95 11 3 95 10 0 New South Wales — 31 p.c., 1929-40 .. 101 11 3 101 10 0 4J p.c.. 1935-45 .. '99 17 6 99 17 6 Victoria— , 3 p.c., 1929-40 99 0 0 99 5 0 43 p.c.„ 1940-60 .. 106 5 0 106 5 0 5 p.c., 1945-75 111 10 0 111 11 3 Queensland— 3 p.c., 1932-47 99 0 0 .99 2 6 5 p.c., 1940-60 107 6 3* 107 7 6 South Australia— 4 p.c., 1942-62 111 10 0 111 8 9 3 p.c., 1945-75 88 18 9 88 15 0 Western Australia— 4 p.c., 1942-64 103 17 6 103 7 6 Tasmania— 3J p.c., 1929-40 102 10 0 102 10 0 4 p.c., 1940-50 102 17 6 102 13 9 New Zealand— 4J p.c., 1948-50 .. 107 1 3 107 1 3 3J p.c., 1940 102 13 9 102 13 9 4 p.c., 1945 100 2 6* 100 2 6 •Ex interest.