COMPANY AFFAIRS.

Auckland Star, Volume LXII, Issue 193, 17 August 1931, Page 4

COMPANY AFFAIRS.

INVESTMENT AND BANKING

COMPANY'S ANNUAL MEETING.

DIVIDEND 7 PER CENT.

Speaking at the annual meeting of the Dominion Investment and Banking Association held to-day the chairman of directors, Mr. A. G. Lunn, referred to the third year of an increasing state of depression to which the country had been subjected. It was to be hoped, he added, that' more effective economies in local body and Government administration would soon reduce the cost of living and of pror duction, thus tending to restore the essentials necessary to progressive development.

Shareholders, he considered, must have perused with feelings of satisfaction, the results of the year's operations as exhibited on the balance-sheet. The securities of the association were widely spread, a considerable number of them being suburban properties. They were subjected to careful scrutiny and where necessary properties had been conservatively treated in regard to depreciation. Prudent and cautious administration was further shown by a considerable increase in liquid reserves, and although this may for a time somewhat curtail earning powers he felt sure the board would have the entire approval of shareholders in making safety and security their main objective. The report and balance-sheet as reviewed in these columns on August 3, were then adopted. These provide for the payment of a dividend to ordinary shareholders of 7 per cent, placing another £500 to reserve and carrying forward £1008. The retiring directors, Messrs. J. A. Warnock and Geo. Winstone, jun., were re-elected, and Messrs. Hutchison, Elliffe and Cameron were ve-appointed auditors.

NEW REGISTRATIONS. The following private companies have been registered in Auckland: — Stewart and Longbottorn, Limited, coppersmiths ami general metal workers, etc. Capital, £2000 in £1 shares. Subscribers: W. K. A. Stewart and B. Longbottom, 1000 shares each. Realty Sales, Limited, land and estate agents, etc. Capital, £850 in £1 shares. Subscribers: Sydney Brennan and A. M. Watkins, 425 shares each. Itotorua Bargain Stores, Limited, Kotorua "eneral storekeepers and Avaxehonsemen "etc. Capital, £600 in £1 shares. Subscribers: Andrew Miller, 508 shares; Doris E. Miller and C. E. Clarke, 1 share British Typewriters and Office Equipment Company, Limited, dealers in typewriters, adding machines and ofnee requisites, etc. Capital, £500 in £1 sh&Tes. Subscribers: T. L. Blomfield and P. D. Kenny, 250 shares each.