COMPANY AFFAIRS.

Auckland Star, Volume LVIII, Issue 276, 22 November 1927, Page 4

COMPANY AFFAIRS.

NATIONAL INSURANCE CO,

ANNUAL MEETING

(By Telegraph.—Own Correspondent.)

DUNEDDJ, this day.

At the annual meeting of the National Insurance Company, the chairman. Mr. John Maloney, directed the attention of shareholders to the profit and loss account, where losses stood at £115,903, the largest amount that had appeared under this heading in the life of the company.

"Despite this adverse record the sum recommended for distribution in dividends exceeds all previous payments," said Mr. Maloney. "While on the subject of dividends it may be of interest to shareholders to hear that in 1898 a dividend of 1/3 per share amounted to £12,254, while for 1927 the dividend of 3/9 per share demanded the release of £37.500 of the company's funds. It may also be worth knowing that in 1896 the paid op capital was £98,037 10/, and the reserve funds and undivided profits £107,007. On September 30 of this year the paid np capital was £300,000, and has been increased to that amount by transfers from reserve funds, thus reducing shareholders' liability by £1 a share, and leaving then at credit of those accounts £467,610. This, too, after paying £669.262 in dividends since the years 1898. These figures are given for the benefit of dissatisfied shareholders who would seem to be unacquainted with the facts stated. NEW REGISTRATIONS.

Two new private companies have been registered in Auckland. The particulars are as follow:—

Hardware Supply Company, Limited, manufacturers and dealers in all kinds of metal goods, etc. Capital: £2000. Subscribers: Percy Douglas Jones, 750 shares; Norman Rupert Jones and Arthur Walling Jones, 500 shares each; William Roy Baizeley and Leonard James Stevens, 100 shares each; Athol Hirous Boulter, 50 shares.

Shirley W. Hill and Company, Limited. Objects: To acquire the business of Customs agents, forwarding and shipping agents, etc., now carried on by William John Nicholson and the executrix of the estate of Herbert Whitfield Hill, under the style of Shirley W. Hill and Company. Capital: £900. Subscribers: William John Nicholson, 475 shares; Ethel Hill, 395 shares; Florence Jane Nicholson, 25 shares; Robert Whitfield Hill, 5 shares.