COMPANY AFFAIRS.

Auckland Star, Volume LIX, Issue 172, 23 July 1928, Page 4

COMPANY AFFAIRS.

BANK OF AUSTRALASIA

■DIVIDEND 11 I'Ki; IKNT

'i he annual i i-pot t ol tin- liank of Australasia, held in' London on Mareh '20, Stated that, alter pio\idinv: lor lebate Oil lulls ciineiil. lor 111 im-li. Australian ami New Zealand rale.- and taxes and making provision Jot bad ami doul'U'ul debts and

other contingencies, I lie net prolit for the \ ear amounted to £054.050. To this had to be added L 135.5118 brought forward trow the 111«• \ io11.« year's iieeottut, making a total of C 7*0.507. From tins £280.000 was paid a- interim dividend on September 30 last, and the din-etois had appropriated ;i further -uni of £2KO.immj to pay a tinal dividend of 7/ per share, making in all t'.">oo.(hiii. eipi.il in 14' per share, and teoresentiie.- tor the \eai a distribution at this rate i . It per cent free of income tax. The directors had also ti atislerred to the 11' serve fund £4".000 and appropriated £50.000 in reduction of bank £remises areoun\. The chairman (Mr. .lolm Sanderson) Haul that the figures oil the balance-sheet showed, compared with those of the previouH year, that among the a nests there wiu» a reduction in British (lovernment securities roughly equivalent to the increase of Government securities of Australia. and that lulls teceivable and remittances were slightly increased, but, of coin these were constantly lluetuating. I lie main alteration was ail increase of near I v 12.0(1(1,0110 in advances. This followed upon a previous increase ot over l'2.'kh».ooo. Turning to liabilities it- vould lie seen that deposits had increased by ovrv L' 2.001 UIOO and there had been a further considerable increase since tlie date of tIV balance-sheet, the amount of deposits up to that date constituting a ic-eord. There was much satisfaction in knowing that a very large proportion of these deposits was held in small sums and i hat during the. past year the number of lixcel depositors had increased by nearly 1200. Tln» chairman in 1920 foreshadowed that the item "bank premises" would show .k gradual increase in the balance-sheet. It then stood at £70.0(10. On Octobe'' 10. notwithstanding appropriations from profit, it stood at 1120.702. Since the former date the Brisbane oltice had been rebuilt and piemises in several other centres had been remodelled or rebuilt. Other important and necessar.\ undertakings were contemplated; consequently shareholders should not bo unprepared to s'ee the figures under this heading gradually and materially increase.

Latest advices weir that, with the exception of a comparatively small area in < dwells I and and New South Wales, the important pastoral and agricultural industries had benefited by rains, which would ensure better conditions than had obtained for some years past. Jle moved that the report be rulopted. This was seconded by Mr. C. G. Hamilton, and carried.

The following retiring directors were elected: — Messrs. F. V. LivingstoneLearmonth. D.5.0., Harold Nelson and Charles E. Burnett.

At an extraordinary gt-nrral meeting held later, the following resolution was carried: "That the directors be authorised to create und issue 100.000 further shares in the corporation of £5 each at such times and oti #ueh terms and conditions as they may think expedient, and that the capital of the corporation be accordingly increased to £4,500,000, divided into 900.000 shares of i.'s each."

The resolution was confirmed at a fur ther general meeting on April 13.

RECENT REGISTRATIONS

'I lie following recent registrations h.ivc appeared in the "Mercantile Gazette": — New Company. New Zealand Wheatgrowers' Co-opera-tive .Association. Limitetl.--Regirttered July 10. 1928: office, 89, Hereford Street. ChrisU-huvch. Capital, .4*50,000. into 50,0W ■hares of CI each. .Suiwerkbers: Oamai u. J. <J. A. Kuddenkjau 10, R. B. Meek 12; Dariicld. W. W. Mu I holla inl 15; Horo«.itit, J. D. Hall 10: Loweliife. J. Brown 12; Clarcniont. P. R. Talbot 10; Ilorrelville, V. Woodtield 10: Meihven, J. Carr 10. ObjecU: To deal in grains, etc. Increase of Capital. Kirijr Solomon Gold Mines, Limited.-— Capital increased by creation and issue of 1500 ah area ot ..€ I each. C. N. Ball. Limited.—Capital increased to £2000, by creation of 1000 new chares of £1 each. W. B. McAdam, Limited.—Capital increased by issue of 1 shares so that members hold a total of 3470 shares of £1 each. Company Charges, Etc. Auckland Tailors, Limited, to bearer. Debenture, July .V 4; 0300, JO per cent; charged ori undertaking and all property, including uncalled capital. C. H. Tileman and Company, Limited, to registered holder. Debenture, June 19, July 6; JJOO</, F'A. 8 per cent; charged on undertaking and all property, including uncalled capital. t Ilayward limber Company*. Limited, to bearer. Debenture. June 23-July 7: 2 debentures hi c i•*»'11 each, 7 per cent; charged on 'iiideriakiug and all property, including iPc-.illcd capital. I hoi burns, Limited, to bearer. Debenture. -Inly 2>>: C 12..0. 7 per cent: charged on iiiidert.il,'.jig and all property, including uncalled eap.lul. National L'.an and Finance Company. Limited to leitistcrcd holder. Deia-litlire, ? . 10 per cent; charged on undertaking an," all property, including uncalled capital. Company Satisfactions. Endean's 'Buildings. Limited, i,., n-~-tered lioldei. I»*bentiii e (So. 3i. November 17. 1014; satisfaction June 29. Auckland Tailors. Limited. t„ bearer. Debenture. September 2s, J!r27; satisfaction July 4.

Thoi<burn and Montgomery. Limited, to D. K. ( . Mowbray. Debenture, Julie 10 1926; satisfaction July 0. C'rosher. William and Suns. Limited. 1o bearer. Debentures (2i, March 14. 191S; «ntisfac.tiou July 10.