COMPANY AFFAIRS.

Auckland Star, Volume LXII, Issue 69, 23 March 1931, Page 4

COMPANY AFFAIRS.

WAIPA COLLIERIES.

PRELIMINARY REPORT

SOME GASH IN THREE MONTHS

In a report just issued to shareholders, Mr. H'. D. Vickery, liquidator in Waipa Railway and Collieries, Ltd., states that since the company went into liquidation active steps had been taken to realise on the mine plant, machinery, and other assets of the company. Fair progress had been made—the boilers, mine fans, portion of the mine rails, mine tubs and some of the machinery and buildings had been sold —but, in view of the limited demand for machinery of this class, and in face of the existing financial conditions, it would probably be a considerable time before final realisation could tfe effected. He hoped, however, to be able to make a first cash distribution to shareholders of 7/6 per share within three months from date.

"Shareholders" (the report continues) "were advised by circular letters from the company, dated October 16, 1929, and October 9, 1930, that the company's railway and rolling stock had been sold to Wilton Collieries, Limited, and that the consideration was in part to be satisfied by the allotment to Waipa Railway and Collieries, Limited, of ten thousand £1 fully paid-up shares in Wilton Collieries, Limited. Some of these shares have been sold, but there are still available for sale I'M shares in Wilton Collieries, Limited. These I now offer to shareholders at the price of 15/ for each Wilton share of £1 fully paid. Should shareholders desire to purchase shares in Wilton Collieries, Limited, they may set off the amount of the refund on their shares in Waipa Railway and Collieries, Limited, for that purpose, and they may offer to purchase additional shares." Waipa shares are 15/, and are fully paidup.

GUARANTEE CORPORATION

INTERIM DIVIDENDS. The secretary of the Auckland Stock Exchange has received advice that interim dividends will be payable on March 31, a3 follows:—Ordinaries (fully paid), per share (paid to 8/); 3d per share, pref., 7 per cent per annum. In the past the usual payments on ordinary shares have been lOd on the fully paid and 4d on the 8/ paid.

NATIONAL MORTGAGE CO

LESS PROFIT AND DIVIDEND.

The report of the National Mortgage and Agency Company for the year ended September 30, states that the balance at credit of the profit and loss account, including £15,177 brought forward from the previous year, was £36,463. Payment of dividend at the rate of 714 per cent would leave a balance of £13,814 to be carried forward. The report remarks that the year under review was an anxious and difficult one, the values of New Zealand exports, especially wool, having experienced an unprecedented fall. These factors were naturally reflected in the company's results. A comparison of the company's profits and distributions in the last three years is as follows: — 1928. 1929. 1030. £ £ £ Brought forward . 14,060 10,567 15,177 Net profit 42,757 30,860 21,286 56,817 46,427 36,463 To reserve 10,000 — — Dividend, p.c 12J 12J 7J Amount 31,250 31,250 22,649 Carried forward 15,507 15,177 11,814 RECENT REGISTRATIONS. The following companies have been registered:— Public. Orange Drink, Limited, to take over the business in Auckland of the Big Orange Drink, Limited (in liquidation). Capital: £1375, in 11,000 shares of 2/6 each. Subscribers: W. Johnston, 2250 shares; A. M. Farquhar, 975; M. J. Piatt, A. F. Jagger, E. S. Stevenson, J. M. Elliffe and J. C. Torrance, 500 each. Private. Rex Pictures (N.Z.), to carry on picture theatre businesses, etc. Capital: £5500, in 5500 £1 shares. Subscribers: C. O. Gibbs, 2150» shares; A. Beazlev, 940; A. Carlson, 900; A. J. Clarkson, 860; F. C. Beazley and H. Curry, 250 each; Helena McNair, 150. P. C. Blenkarne, Limited, general electrical suppliers, etc., to take over the business of P. C. Blenkarne, Auckland. Capital: £500, in 500 £1 shares. Subscribers: P. C. Blenkarne, 300 shares; Evelyn M. Blenkarne, 200 shares. Harold Douglas. Capital: £250, in 250 shares of £1 each. * Subscribers: Auck-land-J. C. Rainger 125, H. M. Clark 125. Objects: Company promoters, etc., and incidental. National Brush Co. (N.Z.), Ltd. Capital: £100, in 100 shares of £1 each. Subscribers: Auckland—P. D. C. Luckie 50, F. H. Seccombe 50. _ Objects: Deal in brushes, etc., and incidental. Hawke's Bay Distributors, Ltd. Registered as a private company, March 11, 1931. Office: Corner of King and Eastbourne Streets, Hastings. Capital: £100, into 100 shares of £1 each. Subscribers: Hastings—Edith .M. Roach, Flora M. Roach 50 shares each. Objects: To carry on business of a storekeeper in all its branches and general incidental.