COMPANY AFFAIRS.

Auckland Star, Volume LVIII, Issue 49, 28 February 1927, Page 4

COMPANY AFFAIRS.

WESTPORT-STOCKTON COAL. "FLUME A FAILURE." Directors of "lie Westport-Stockton Coal Company report for the year ended 31st December, 1926, an output of 114,804 tons, as against 59.877 tons for 1925. "Trade conditions were excellent during the year, and more coal could have been sold had the colliery been capable of producing it. The colliery management has therefore been thoroughly reorganised, and an increased output is anticipated. The flume as a means of coal transport proved a failure under existing conditions. It caused great damag'e to and resulted in heavy losses of the coal flumed and did not show the savings anticipated. It has therefore been abandoned,"'state the directors. The year's operations, they add, resulted in a substantial loss, mainly owing to the flume, but the current year will show better results. Directors whose places will require to be filled are Messrs. C. J. R. Williams (resigned) and R. 0. Dixon (seeking re-election). The loss was £8399 1/3, made up of £5713 4/3 for the year 1926, and £2685 17/2 brought forward.

CHARGES. The following items appear in the latest issue of the "Mercantile Gazette":— Leveins, Ltd., to M. E. G. Kemp. Debenture, December 16-23, 1926; £300, 10 per cent; charged on undertaking and all property, including uncalled capital. (Auckland.) Gwen Smith, Ltd., to J. P. Stevenson. Debenture, December 17-23, 1926; guarantee bank account; charged on all property, including uncalled capital. (Auckland). China Clay and Porcelain Co., Ltd., to bearer. Debenture, December 20-20, 1926; £5000, 7 per cent; charged on all property, including uncalled capital. (Auckland). A. W. Roe Timber Co.. Ltd., to bearer. Debenture, December 13-22, 1926; £2000, 8 per cent; charged on all property, including uncalled capital. INCREASE OF CAPITAL. C. H. Tileman and Co., Ltd. Capital increased from £5075 to £6075 by creation of 1000 shares of £1 each. Registered December 22, 1&26. (Auckland). MOSGIEL WOOLLEN CO. INCREASE OF CAPITAL. In connection with the increase of capital by the Mosgiel Woollen Co., notified in these columns recently, a curious fact emerges. The notification, although strictly in accordance with the official record, appears, nevertheless, to have been an error or oversight, and the explanation is furnished by the secretary of the company, who, writing from Dunedin under date February 21, to the "Mercantile Gazette," says:—"This increase took place 38 years ago, but through an oversight— whether on our side or the Registrar of Companies, we have not found out—the increase has evidently never been registered, and they have evidently just found out that the capital as they have it and that shown on our return of shareholders which they have had every year since, does not tally. They requested us to make formal application to them to re-register, so as to keep their books right. We did so, and naturally never expccted it to appear in your paper as a new transaction. We trust that, under the circumstances, you will put in an explanatory note in this connection in your next issue." NEW REGISTRATION. Lamont Tile and Grate Co., Ltd. ' Objects: The manufacture of tiles, grates, slates, cement, bricks, lime and plaster. Capital. £1000 in £1 shares. Subscribers: Thomas Lamont, £685; Wm. Lamont, £250.