COMPANY AFFAIRS.

Auckland Star, Volume LVIII, Issue 195, 19 August 1927, Page 4

COMPANY AFFAIRS.

WELLINGTON WOOLLEN CO. (By Telegraph—Own Correspondent.)' WELLINGTON, Thursday. The annual meeting of the Wellington Woollen Manufacturing Company was held to-day. Mr. W. H. P, Barber presided. In moving the .adoption of the report and balance-sheet, Mr. Barber said depression in the Dominion generally, especially in the more recent months, had affected adversely the profit in that the compensating return on the business done had not reached the level it should have done. There had been very keen competition, and it was only by forcing sales at a low margin that figures could be maintained. The position of the company was strong. While the called-up capital had been increased by £ 15,000, the indebtedness had been reduced by £33,455. . The gross profit shown was less by £3221, but. the, overhead expenses were down, by £3245. There was now an increased total for dividend on the new capital, so that the balance remaining to be carried forward was less by £1219 13/10. Ample provision had been made for contingent losses.

NEW REGISTRATION. One new private company has been registered at Auckland. The particulars areas follow:—, Bridge Drug Store, Limited. Objects: To acquire and take over the Bridge Drag Store, 3, Karangahape Road, now carried on by' Stephen Barclay. Capital: £2000. Subscribers: Stephen' Barclay, 1500 shares; Seddin Sheaves, 1000 shares.