COMPANY AFFAIRS.

Auckland Star, Volume LXIV, Issue 136, 12 June 1933, Page 4

COMPANY AFFAIRS.

NORTHERN ROLLER MIL.LS. SILO BLOCK EXTENSION. ISSUE OF FRESH CAPITAL. To finance the construction of a new silo block on freehold premises "in Fort Street, the directors of the Northern Holler Milling Company, Ltd., have decided to issue 25,000 ordinary shares at £1 8/. The shares are first being I offered to shareholders, and the balance of the issue will be offered to the public ! from July 17 onward. I The works contemplated by the company entail large structural additions and the crection of a number of bins or containers for the storage, conditioning and handling of wheat. The capital outlay involves about £35,000. but it is considered that this will not increase the cost of production. The premium of 8/ each on the shares makes the dividend of 7 per cent on the company's capital, which, the directors claim, is reasonably expected, a 5 per cent investment on shares bought for £1 8/ each. The authorised capital of the company comprises 300,000 ordinary and 100,000 cumulative preference shares of £1 each. Of this 200,000 ordinary arid 75,000 preference shares are at present allotted, making the paid capital £275,000. The reserve account comprises a sinking fund reserve of £22,769, bad debts reserve of £3000. and a sum of £54,098 being undivided profits at the credit of profit and loss account. For the year ended February 2S the company earned a net profit of £17.916, and dividends of 7 per cent arid 5 1-5 per cent were paid on ordinary and preference shares respectively. This would require £19.250. The shares were listed on the Auckland Stock Exchange in April, and there was a sale of ordinary shares on Mav ]5 at 29/. At present buyers are .offering 27/ for ordinaries, with no sellers.

AUSTRALIAN IRON AND STEEL

Mr. C. 11. Iloskins, chairman and joint managing director of Australian Iron and Steel, Ltd., told shareholders at the annual meeting in Sydney that sales for tho first eight, months of the year had been tho lowest in the history of the company, but that for the remainder of tho year they had improved considerably. Unfortunately the improvement had not been sufficient to enable the various units of tho plant to work other than intermittently. The two Lithgow merchant bar mills had been transferred to Port Kcmbla and liad operated satisfactorily. Answering a shareholder, Mr. Hoskins said that the resumption of the payment of preference dividends was largely dependent upon an improvement of trade. Operations had been more satisfactory than had been anticipated, but business aotild not be maintained with spasmodic operations.

WOOLWORTHS, LTD., SYDNEY.

Woohvorths, Ltd., Sydney is making an issue of 100,000 7 per cent second preference shares of £ 1 cach, of which 10,000 shares arc reserved for subscription by Woohvorths (N.Z.), Ltd. The remaining 85,000 shares will be offered pre rata to ordinary and lirst preference shareholders in tho proportion of approximately 35 shares for every 100 shares held.

NEW REGISTRATIONS. The following recent registrations have been made: — Public. Eeid New Zealand Kubber Mills, Ltd.. to adopt and carry into effect a deed of agreement between G. C. W. Reid and H. W. Shove, accountant, as trustee of the company, to carry on the business of rubber mills proprietors, aud to manufacture and deal in rubber goods of all descriptions. Capital, £30,000 in shares of £1 each. Subscribers: A. M. Seaman. L. M. ifare, *E. <>. Cridgens, F. W. L. Milne, G..C. W. H :id, H. W. Shove and J. P. Hooper, one share each. Ta«man United Mines, Ltd., to acquire mining claims a..d areas, aud, in particular, to take ever the Maratoto Console dated special quartz claim in the Hauraki mining district. Capital, £10,000 in shares of £1 each. Subscribers: H. P. Knutzen, Norman Gillan, J. Martin, Thomas Gil-

Lan, Albert Hemming?., Cecil Hemmings and R. F. Percival, 300 shares each: W. C. Rotherham and W. J. Roach, 25 shares each. Private. Haines, Thorpe Syndicate, Ltd., to carry on the business of an investment, lending and agency company, to invest capital and to exercise as principal or as trustee for any person or company. Capital. £3300 in shares of £1 each. Subscribers'. C. J. Green. C. R. Haines and G. W. Thorpe, 1100 shares each. Speedway Steam Products, Ltd., manufacturers of and dealers in all classes of apparatus and machinery for or connected with the development of steam. Capital, £760 in shares of £1 each. Subscribers: Hugh Hollis, 300 shares; J. L. Blackmore, 220 shares; R. A. Nicolas, 100 shares; G. E. Fox and May Read, 50 shares each; Percival Levy, 25 shares; W. M. Hunter, X 5 shares. Hardwick (Vic.), Ltd. Capital: £400 in 400 shares of £1 each. Subscribers: Papakura: W. V. Hardwick 395, M. In. Wilson 5 shares. Objects: General merchants, importers, etc., and incidental. Express Transit, Ltd. Capital: £60 in

60 shares of £1 each. Subscribers: Auckland—E. W. Rice, H. S. MacGrancutt, S. N". Whitmore, J. R. Freeman, S. R. Wood, P. C. Rice, 10 shares each. Objects: Express Co., transport, etc., and incidental. Okoroire Hot Springs Hotel, Ltd. Capital: £1500 in 1500 shares of £1 each. Subsci'ibers; Okoroire —N. L. Higginson 1000 shares, A. E. Higginson 500. Objects: Hotelkeeper, etc., and incidental. Increase of Capital. Okarito Five-mile Beach Gold Dredging Co., Ltd. Capital increased from £30,000 to £35,000 by the creation of 20,000 shares of 5/ each; registered May 20. Associated Motorists, Ltd., Wellington. Capital increased from £125,000 to £135,000, by creation and issue of 10,000 preference shares of £1 each; registered May 25. Companies Winding Up. Bchunk Airways, Ltd., Auckland. W. W. Kong, liquidator. Household Buying and Service Association, Ltd., Auckland. E. B. Rout, liquidator. Roberts (J. D.), Ltd., Auckland. H. Y. Cameron, liquidator. Wholesale Supply Stores, Ltd., Auckland. E. B. Rout, liquidator.