COMPANY AFFAIRS.

Auckland Star, Volume LIX, Issue 280, 26 November 1928, Page 4

COMPANY AFFAIRS.

IN LIQUIDATION. FOUFJ'EXCi: IX THE POUND. According to a report issued by the liquidator of Black's Goldmining Company, an Otago concern, the surplus available to shareholders, after paying all creditors, will be equal to 4d in the £ of paid-up capital. Two of the promoters of the company, Messrs. Byron-Moore and Ireland, have handed their dividends on G.VOO and 32.50 paid-up shares respectively to the liquidator, to be distributed among the shareholders in proportion to their holdings of contributing shares. ASHURTON GAS COMPANY. JUBILEE YEAR. The Ashburton Gae Company has juet concluded its fiftieth year of operations. At the annual meeting last week tiie chairman, Mr. R. Clark, said that in 1878, with a. capital of £4">00 and thirteen consumers, the company started to manufacture gas, retailing it at 19/4 per thousand feet. In 1879 the number of consumers had increased to forty-rive, and to-day the number was 1353 and was rapidly increasing. He stated that the directors had decided to reduce the price of gae by 5d per 1000 cubic feet as from January 1 next, this being the third reduction in the last four years. A dividend of ten. per cent for the year was agreed to. RECENT REGISTRATIONS. COMPANY CHARGES. The following registrations have appeared in the "Mercantile Gazette": — Grey Lynn Theatre Company, Ltd., to registered holder. Debenture, October 12November 2; 100 debentures of £100 each, IVs per cent; charged on undertaking and all property, including uncalled capital. Grey Lynn Theatre Company, Ltd., to Guardian Trust and Executors Co., N.Z., Ltd. (trustee). Trust deed, October 12November 2; covering above debentures and charging undertaking and all property, including uncalled capital. Victory Engineering Company, Ltd., to H. M. Warner. Instrument by way of security, October 25-Novem>>er 5; £5300, 7 per cent on firet £2000 and 6 per cent on balance; machinery and chattels (col.). Te Awamutu Co-operative Dairy Company, Ltd., to Union Bank of Australia, Ltd. Debenture, October 29-November 3; C/A, C/R; charged on undertaking, goodwill and all including uncalled capital. Majestic Theatre Company (Invercargill), Ltd., to registered holder. Debenture, October 8-29; 125 debentures of £100 each (aggregate of £12500), 7 ] /fc per cent; charged on undertaking and all property, including uncalled capital (subject to a first mortgage of £26,000). Increase of Capital. Morningeide Timber Company, Ltd. Capital increased from £25,000 to £32,500 by issue , of 7500 ordinary shares of £1 each. Pyroe Laboratories, Ltd. Capital increased by 225 shares of £1 each to be allotted to R. I. Wilkinson.

COLUMBIA GRAMOPHONE CO. COINING MONEY. LONDON, October 17. * The industrial market in the Stock Exchange provided a. new sensation on October 3, when the 10/ ordinary shares of the Columbia Gramophone Company changed hands at £20 each, states the "Chronicle." These eharee, like many other prominent British industrials, are quoted on the New York Stock Exchange, and the rise of nearly £4 in price during the pact week ie attributed largely to demands from American operators. With the shares quoted at £20, the market valuation of the undertaking was juet over £20,000,000. Thie ie made. up as follows: — £ 982,093 ordinary 10/ shares at £20 19,641,860 300,000 7 per cent preference £ 1 shares at 24/ .. 360,000 £20,001,860 Thie calculation ie not affected by the fact that the directors are taking steps to in-creaee the ordinary share capital, and propose to present existing shareholders with one bonus share for each share held. Through subsidiary undertakings the company has interest*? which are almost world-wide and of great value. NEW REGISTRATIONS. Details of two registered recently are:— The Korowhiro Timber Co., Ltd., to carry on the business of sawmilling, building of houses, and supplying of timber. Capital: £200 divided into 200 shares of £1 each. Subscribers: Alfred Grey Clements, sawmiller, of Kaipara Flats, and Willoughby Grey Oliver, sawmiller, of Kaipara Flats, 100 shares each. The Te Aroha Co-operative Rural Intermediate Credit Association, Ltd., to carry on all such business as ia authorised by the Rural Intermediate Credit Act, 1927, and to exercise all powers conferred by the Act. Twenty-two subscribers, taking 25 shares each. Directprs: John Dennerly Johns, farmer, of > Waitoa; Francis William Walters, farmer, of Waitoa; John David Mackay, farmer, of Waihou; Peter Alexander Surney, farmer, of Waihou. Each director has 25 shares. Company registered at Hamilton.