COMPANY AFFAIRS.

Auckland Star, Volume LXIV, Issue 114, 17 May 1933, Page 4

COMPANY AFFAIRS.

SWAN BREWERY. AN UNCHANGED DIVIDEND. (By Telegraph.—Press Association.) WELLINGTON, Tuesday. Tho Swan Brewery Company, Ltd., Victoria, has cabled the Stock Exchange Atfcociation of New Zealand that the usual preference dividend and an ordinary dividend of 2/ a share will be paid on May 31. SHAREHOLDERS MEET.

A. AND N.Z. BANKING CORP. Meetings of shareholders of the Australian and New Zealand Banking Corporation, Ltd., are being held in the four main centres of the Dominion. One was held at Auckland on May 9, another at Wellington last Thursday, and a third at Christchurch on Friday. The announcement calling the meetings stated the "business" as being "to meet representatives of the Australian board of directors." None of the meetings was open to the Frees, and it was stated that the business transacted would be reported by circular to shareholders who were not present. According to a report in the "Christchurch Times," it ia understood that there was a lengthy discussion concerning the affairs of the company, especially concerning calls on shares. The liability of shareholders was explained to them, and their legal obligations discussed. Mr. Armstrong, of the board of directors in Sydney, and Mr. Fullerton, solicitor, Melbourne, were present at the meeting. Mr. Fullerton, who was present at the request of the board of directors, explained tho position regarding the financial obligations of shareholders, and the position of the company. Two courses of action were open to shareholders; either that of immediate liquidation, or of completing negotiations regarding the building purchased in Sydney with a view to saving shareholders further liability on their shares. In answer to a question, Mr. Fullerton stated that only 13,000 of the 171,140 shares subscribed were taken up in Australia, the balance having been subscribed in New Zealand.

Eventually it was decided to conform to the action of shareholders at the meetings in Auckland and Wellington, and to appoint a local committee, consisting of Messrs. W. W. Braseington, G. R. Wallace, and Sutton (Ashburton), to confer with the executive officers present, and later report to shareholders. At the close of the meeting this committee met and further discussed the position. It was decided to defer matters until action was taken by the directors in Sydney.

N.Z. SOUND FILMS. DUNEDIN ENTERPRISE. (By Telegraph.—Own Correspondent.) DUNEDIN, this day. Five years of assiduous effort were crowned to-day when Mr. Jack Walsh showed his first gazette, published by the New Zealand Sound Films Company. The company was recently formed in Dunedin, and the capital was subscribe/ in two days. All films are to be produced in Dunedin, but contracts have already been entered into for the exhibition of gazettes throughout the Dominion.