COMPANY AFFAIRS.

Auckland Star, Volume LXI, Issue 194, 18 August 1930, Page 4

COMPANY AFFAIRS.

NEW REGISTRATIONS. The following recent registrations have appeared in the "Mercantile Gazette":— Private Comnanies. B. J. Walker, Ltd. Capital: £6000 in 6000 shares of £1 each. Subscribers:Auckland—B. J. Walker 2000, A. J. Davis 800, H. Starkie 2000, P. Munro 200, J. T. Knight 300, J. M. Stevenson 200. Christchurch—F. S. Math 250, E. M. Math 250. Objects: Plumbers, etc., and incidental. Wynwood Investments, Ltd. Capital: £100 in 100 shares of £1 each. Subscribers: Auckland —K, Forrest 34, M. D. Grayson 33, A. W. Coffey 33. Objects: Deal in land, etc., and incidental. Increase of Capital. Blain and Co., Ltd. Capital increased from 000 £1 shares to 1250 £1 shares. . Maungaturoto Co-op. Dairy Co., Ltd. Capital increased from £0000 to £20,000 in 20,000 shares of £1 each. Thoroughfare Advertising Co. (N.Z.), Ltd. Capital of company increased to £3000 by creation of 1000 shares of £1 each, and resolution, 23/1/30, capital increased from £3000 to £5000 by creation of 2000 shares of £1 each. Company Charges. Newby's Motors, Ltd., to A. Newby. £3600, F/A, 7 per cent; motor cars and chattels. New Zealand Tobacco Co. Ltd., to Commercial Bank of Aust., Ltd. Debenture, C/A, C/R; charged on undertaking and all assets including uncalled capital. Forrest Stores, Ltd., to bearer. Debenture; £5000, F./A., 5 per cent; charged on undertaking and all assets including uncalled capital. Newby's Motors, Ltd., to bearer. Debenture; £3600, 7 per cent; charged on undertaking and all assets. including uncalled capital. Waikato Aviation Co., Ltd., to M. A. Scott. Debenture; £650, F./A.; charged on undertaking and all property including uncalled capital. A. G. Frankham, Ltd., to bearer. -Debenture; 1000 debentures of £5 each, 10 per cent; charged on motor vessels and motor trucks (subject to certain encumbrances) . ROYAL MAIL GROUP. On June 11 the Royal Mail Steam Packet Company made an inportant statement, which, as "The Times" remarked, should go far to restore confidence in the future of this important shipping concern. It was announced that a committee had set up to confer with the court of directors of that company and the boards of directors of the various subsidiary and associated companies on matters of management,-'administration and finance. Commenting on the announcement, the financial editor of "The Times" said:— The report of the Royal Mail Steam Packet Company for the past year disclosed a financial situation of such stringency that some such development as that announced could no longer be delayed. For some years past the finance and finances of the Royal Mail group have not inspired the same confidence as that of the other great_ shipping groups, even though its shipping services were second to none. Down to the end of 1928 the Royal Mail Company regularly distributed a dividend on its ordinary stock, and uninitiated investors imagined that all was well with their investment. Last year's report contained the first hint that something was amiss. It is now realised that, modest though the distributions were, tney wore extravagant having regard to the real earnings in recent years and the diminution in the company's cash resources. The financial affairs of the group are highly complicated. It has a large amount of redeemable debt to provide for over a period of years, and its immediate and contingent liabilities are considerable. Lord Kylsant has therefore taken a wise step in obtaining the assistance of such well-known financial experts as Mr. Frederick Hyde, managing director of the Midland Bank, Brigadier-General Maxwell, a managing partner in Glyn, Mills and Co., and Sir William McLintoek, the wellknown accountant. These gentlemen will act in consultation with Sir William Plender, chairman of the Trade Facilities Advisory Committee.