COMPANY AFFAIRS.

Auckland Star, Volume LVII, Issue 133, 7 June 1926, Page 4

COMPANY AFFAIRS.

NEW REGISTRATIONS. Two public companies and rour private companies were registered in Auckland last week. Details are as follow: — PUBLIC. Tne Aorangi Gold Mine, Ltd.—Objects: To acquire and work an area of 42 acres called tbe Aorangi Extended special quartz claim, at Thames, capital, £15,000 In 75,000 shares or 4/ each. Subscribers: A. VV. Blanchard, W. T. Brown, F. H. Burbush, A. V. Burcher, T. U. Wells, and W. 3. Urquhart, 500 shares eacb; T. SL Sanders, 250 shares. Tbe Hauraki Flas Growers and Hemp Producers, Ltd. —Objects: To acquire land in the Waihou district, and plant, cultivate, and mill New Zealand flax, etc. Capital, £100,000 In shares of £1 each. Subscribers: G. Craw, A. Hannay, S. A. Longuet, R. Burns, T. P. Pountney, G. Hutchinson, and H. P. Richmond, one share each. PRIVATE. Willis C. Raymond, Ltd., car and coacn painters and flnishers, oil, paint, and colour merchants, etc. Capital, £1000 tn shares or £1 each. Subscribers: Willis C. Raymond, 600 shares; H. T. Anderson, 250 shares; S. O. Watkins, 100 shares; H. Horspool, 50 shares. Whangarei Motor Transport Company, Ltd., general carriers of goods or passengers by sea or land, custom house, shipping and general sgents, eic. Capital, £1500 ln snares, or £1 each, subscribers: H. z. Lamb, 617 shares, H. H. Davison, 467 shares; B. G. L. Harris, 416 shares. L. V. Martin and Company, Ltd., dealers ln and manufacturers of pianos, pianolas, gramophones and records, etc Capital, £300 ln shares of £1 each. Subscribers: W. Hopkins and M. A. Hopkins, 100 shares each; A. i. Leather, 75 shares; L. V. Martin, 25 shares. Dominion wines, Ltd. —Objects: To carry out an agreement for the sale and purchase as a going concern or tbe business in Karangahape Road, Auckland, styled Wendell's Wine Bodega, and act as manufacturers of and dealers in beverages. whether intoxicating or not. Capital: £8500 lo 85 shares of £100 each. Subscribers: M. E. Budge, 22 preference ana 45 ordinary shares; T. Ross and W. A. Leslie, five prererence shares each; G. Black, four preference shares; E. Haughie, two preference shares; M. Haughie and C. Houg-hle, one preference share each. WILSONS PORTLAND CEMENT. BALANCE-SHEET ITEMS. In the course or his address to shareholders or Wilsons (N.Z.) Portland Cement, Ltd., held to-day, the chairman or directors (Sir Geo. Elliot) referred to items or the balance-sheet, which was summarised in these columns on May 24. He explained that the decrease or over £6000 In the amount due to " creditors (including provision for Income tax) " was brought about mainly by the reduction in the rate of Income tax. The company carried its own insurance on cargoes and hulls or its own vessels. The tonnage was now greater than before, and an additional sum bad therefore been added to the marine insurance rund. The dividend rate had been raised from 1/8 per share to 21, and the directors hoped to maintain the latter scale. Sir George was exceedingly emphatic concerning depreciation. He stated that probably ln no manufacturing- plant was there greater wear and tear than tn that or a cement works. It was therefore essential that tbe plant should be rigidly written down and provision made for the Immediate scrapping of any machine whenever a more efficient one came on the market. The history of cement making showed that great monetary losses had been made In the Industry. He leu sure that many ot those losses had been directly due to the desire of directors to pay large dividends, instead of making adequate provision Tor depreciation. The whole or the advances made by the cement company to the colliery company had been repaid, and the amount, together with cretaln other funds, had been Invested in New Zealand Government inscribed stock. This investment had naturally affected tbe casb and bank balances, which showed a decrease as compared with the previous year.