BOWRON BROS., LTD

Press, Volume LXVI, Issue 13830, 6 September 1910, Page 9

BOWRON BROS., LTD

(Received September ,">th. 11.u<) p.m.) SYDNEY, September 5. The directors provisionally named in the pro.spcr-tus of Bowron. Bros.' Export and Trading Company as an Australian Hoard, met to-day., and decided not to proceed with the registration of the company under existing circumstances, the Wellington directors having retired, and asked for tho. withdrawal of tho prospectus. Compliance with their request was considered necessary, and the Australian Board arc of the opinion that tho vendors and promoters should vindicate their statements by further authoritative investigations before the. company "was registered. To-day's meeting was advised that three, separate firms of Now Zealand public accountants had certified to the following figures for the period covered by the prospectus:—For the fourteen months ending September 30th, 1908:— Net profit from the leather grindery and fcllniongery business, excluding income from investments and other sources, £24,848. For the twelve months ending September 30th, 1909, the net profit was £24.267.

Authenticated fisruros by independent chartered accountants wore also produced, and showed even, larger profits than appeared on tho first prospectus. An arfnoirtoemciit was made that tho vendors and promoters intend to issue a revised prospectus at an early date, and that tho vacancies on the- New Zealand Board were already filled by representative citizens of Christchurch.