COMPANY AFFAIRS.

Auckland Star, Volume LXVIII, Issue 22, 27 January 1937, Page 4

COMPANY AFFAIRS.

UNION BANK. TOLICY OUTLINED. LONDON, January 25. In presiding at the annual meeting of the Union Bank of Australia, Mr. Hugh Flower commented upon the improvement in conditions in Australia. He said the recovery was resulting in increased demands for banking accommodation, which were hard to meet without an improvement in the total deposits. Failing a satisfactory increase of these the banks would be obliged to adopt a more restrictive policy toward advances, which would be unfortunate if it hampered legitimate enterprise. Referring to New Zealand, Mr. Flower said it remained to be seen whether the guaranteed price for dairy produce would compensate the producers for increased costsdue to other parts of the Government's policy. It was questionable whether Government control of exchange was in the best interests of the business community and the Dominion. The bank was adopting a conservative policv in New Zealand pending further indications of the Government's policy.

SELFRIDGE'S (N.Z.) Advice has been received by the Auckland Stock Exchange from the interim secretary of Self ridges (New Zealand! Limited, that owing to phenomenal oversubscription by shareholders ia the parent company it was difficult to flo otherwise than confine the allotment to them. Even so present shareholders received onlv one for every two held by them in the parent company.

STAPLES' BREWERY. Persistent rumours are current of a bonus to be paid by Staples' Breweries and the shareniarket evidently anticipates that some distribution will be mad" -\ notice read by the Auckland Stock Exchange to-day stated that the books of the coqipany will be closed from January 28 to February 10. In view of this announcement further information is expected at any moment.

NEW REGISTRATION. The following private company has been registered in Auckland: — G. Hyauiason and Company, Limited, engineers and sheet metal workers. Capital, £500 in £1 shares. Subscribers: G. E. B. Hyauiason, 251 shares; G. E. Hyimnsnn, G. F. Cby f ou, 100 each; G. T. Xiipp, 49.