COMPANY NEWS

Press, Volume LXXXIII, Issue 25309, 8 October 1947, Page 5

COMPANY NEWS

CHARLES BEGG AND COMPANY PROPOSED CAPITAL INCREASE Shareholders in Charles Begg and Com- . pany, Ltd., have received notice of a special meeting to be held on October 21 to consider a resolution to increase the capital of the company to £200,000 by the creating of an additional 100,000 equally ranking ordinary shares of £1 each. The meeting will consider a further resolution providing for the issuing of £50,000 of these and £20,000 of present unissued capital to existing shareholders in the proportion of one for one at 5s premium, of a total cost of 255, payable in full on application. A further resolution empowers the company to issue all dr part of 10,000 staff shares to such employees of the company or its subsidiaries as they think fit and at a price to be determined by the directors. The present capital of the company Is £lOO,OOO divided into 90,000 ordinary shares of £1 each and 10,000 staff shares of £1 each, of which 70,000 ordinary shares of £1 each are subscribed. The new capital, when approved, will be £200,000, and the total subscribed capital will be £140,000 ordinary shares and £lO,OOO staff shares. Dominion Rubber Company.—-The secretary of the Dominion Rubber Company has received cabled advice that production for the month of September was 48,0001 b. Brown Ewing.—This company has declared an annual dividend of 10 per cent, and a bonus of 5 per cent, (ex October 8). Perpetual Trustees Dividend.—The Perpetual Trustees Estate and Agency Company, Ltd., has declared an interim dividend at the rate of 9d a share for the six months to September 30, payable on October 24.—(P.A.)

A DIRECTOR’S GENEROSITY SHAREHOLDERS’ DIVIDENDS PAID Because Miles Aircraft, Ltd., London, had been operating at a considerable loss, due largely to the fuel shortage, the directors told shareholders that a cumulative preference dividend due on October 3 could not be paid. The chairman of the company, Mr F. G. Miles, 44-year-old former flying instructor, has undertaken personally to guarantee payment of. preference dividends for the half-years ending September 30, 194 r, and March 31, 1948. It will cost Mr Mjles £12,500 to honour his undertaking, in addition to a further sum of £lO,OOO to pay the tax collector’s share of the dividend. Never before in the history of the City of London has a company chairman paid shareholders’ dividends from his own pocket. VEGETABLES, FRUIT, AND MEAT CITRUS FRUITS AWAITED Citrus fruits are in very short supply. The market is bare of oranges and lemons as well as bananas. A shipment of Australian oranges, lemons and grapefruit is on the Waitaki, which is at present in Dunedin. The latest advice is that the ship is due at Lyttelton about Thursday or Friday of this week. A scarcity of apples is also reported by the shops. New potatoes are also in short supply. Green peas from Nelson are now on sale at Is 6d per lb. Hothouse tomatoes brought 6s 2d per lb in the city markets yesterday, and proved too dear for some retailers to handle. Prices in detail are as follow.— Fruit and Vegetables Apples, lb, up to 6Jd; bananas, lb, 7d; lemons, lb, lOd (Australian), Is IJd; oranges (Aust.), lb, lid, (Island), 7d; grapefruit (Jamaican), lb, Ud; pears, lb, up to 9Jd; cabbages, lb, 3Jd; carrots, lb, 3d; onions, lb, sd; parsnips, lb, 4d; potatoes, lb, 12d; pumpkins, lb, 6d; silver beet, lb, 4Jd; swedes, lb, ljd; kumeras, lb, 6d; spring cabbage, lb, sid. (All governed by price orders.) For purposes of comparison Canterbury October wholesale prices, as given in the latest price order, are: carrots, cwt, ids 6d or 2d per lb; parsnips, 25s 6d or 3Jd per lb; swedes, 8s 6d or about Id per lb; cabbage (main crop) 19s 6d or about 2Jd per lb; cabbage, spring varieties, 31s cwt or about 3Jd per lb; silver beet, 27s or nearly 3d per lb; pumpkins, 39s 6d, or nearly 4Jd per lb; onions, f.a.q., £2B a‘ ton, or about 3d per lb. In the case of the folldwing lines, retail prices are given beetroot (bunch), 3d to 6d; cauliflowers, 4d to Is; celery, Is to 2s; lettuce, 4d to 8d; passion fruit, 6d to 8d each; rhubarb, Is to Is 6d (bunch); spinach, 6d to Is (bunch); tree tomatoes, 2s; radishes, 3d (bunch); spring onions, 4d (bunch); leeks, 6d (bunch): new potatoes, 7d per lb; asparagus, 2s (bunch); peas. Is 6d per lb; cucumbers, 2s 6d per

Eggs Heavy grade, 2s 3Jd a dozen; standard, 2s Id; medium, 2s; pullets, Is 9Jd; duck, 2s Id. Retail Meat Prices Veal: fillet, Is OJd, 10 Jd; loin, 10 jd, BJd; stewing, 7jd, 6Jd; soup meat, 5Jd, 4Jd; steak, Is lid, lljd; rump steak, Is 4jd, Is lid; cutlets. Is lid, Hid; rolled, lljd, 9Jd; stuffed, Is Oid, 10id. Beef.—Rump steak. Is 6id, Is 3Jd; fillet, Is BJd, ls’sd; porter-house steak, bone in. Is 6id, Is 3id; and bone out. Is 10id, Is 6Jd; tender-boy steak, Is 2id, Is; thick flank or top rump steak, Is lid, llid; top side steak, Is lid; Hid; skirt steak, Is, lOd; chuck steak, lid, 9Jd; blade or boalor steak, Is OJd, lOld; sirloin, Is 2id, Is; sirloin, rolled and boneless, Is sid, Is 2id; prime ribs, Is, lOd; prime ribs, rolled and boneless, Is 3d, Is Oid; chuck ribs, 9d, 7Jd; chuck ribs, rolled and boneless, Is, lOd; back ribs, rolled and boneless. Is OJd, lOjd; wing ribs, bone in, Is 2id, Is, and bone out, Is 6Jd, Is 3id; blade, rolled and boneless, Illa, Old; topside, Is lid, Hid; gravy beef and shin beef, 9d, 7Jd; corned silver side. Is 2d, llid; rolled brisket, corned or otherwise, 101 d, 9d; brisket, on the bone, 6d, sid; flat rib, 7d, 6d. Legs and shins: whole, 51d, sd; halves, thick end, 6d, 51d; halves, knuckle end, 51d, sd; thin flank, sd, 4id. Mutton.—Legs, whole. Is 21d, Is; shank end, up to six lb, Is 31d, Is Id; thick end. Is 2jd, Is; middle fillet, Is 3Jd, Is Id; fore quarters, whole, 9d, 7id; shank end, 91d, 8d; Spanish neck, 101 d, 9d. Shoulders: whole, Ud, 91d; shank end, Hid, 91d; blade end, Is, lOd; neck and breast, BJd, 7id. Neck: best end, lOd, Bid; scrag end, 81d, 71d. Loin: middle, Is 2d, llid; rib end, Is, 10d; chops, loin middle, Is 4d, Is lid; rib, Is Id, Ud; shoulder, trimmed, Is Id, lid; leg or chump. Is 3id, Is Id; Spanish neck, llid, 9Jd; stewing, Ud, Did; flap, 7d, 6d. Flaps, whole, 4d, 3id; cutlets: French. Is 6d, Is 3d; stuffed roll. Is 4d, Is lid. Prices for third grade mutton from Id to 2d below second-grade schedule. Lamb.—Fore-quarter, Is, lOd; hindquarter, Is 2d, llid; legs, Is 4id, Is lid; loin, Js 4jd, Is lid; loin, rib end, Is 2Jd, Is: cnops. Is 4id, Is lid; chops, crumbed. Is sid, Is 2d. Pork.—Stuffed. Is 7d, Is 3id; rolled. Is 6d, Is 3d; leg. Is 4d, Is lid; loin. Is 4d, Is lid. Chops, loin, Is 6d, Is 3d; fore loin, Is 3d, Is Oid; fore loin, Is 2d. llid. Corned, hand, Is Oid, 10id; belly, Is 2id, Is. BUTTER-FAT PRICES HIGH ADVANCE PAYMENTS IN SOUTH AUCKLAND The South Auckland Dairy Association has decided to recommend to dairy factory companies in its district that the advance payments to suppliers should be 2s per lb for finest grade butter-fat for butter-making, and 2s l|d per lb butterfat for first grade butter-fat for cheesemaking. These advances are to apply to milk or cream supplied as from August 1, 1947. The payments represent an increase of 4d per lb fn each instance compared with those made during the corresponding period a year ago. It is 27 years since the advance payment to butter-fat suppliers previously reached 2s per lb, but in the following year 1921-22, the advance dropped to Is, although the final payment for that season was 16d. TESTING PAKOT4I COPPER ORE DEPOSITS After the excellent results obtained from the trial shipment of copper ore from Whangarei to Australia, further exploration of the deposit at Pakotai is being carried out by the New Zealand interests concerned, with the co-operation of the Mines Department. Drilling of the area to determine the extent of the deposit is being carried out. If the deposits warrant the development, it is proposed to concentrate the ore before shipment to Australia.

LONDON STOCK MARKETS QUIET

(Rec. 7 p.m.) LONDON, October 6. The London stock markets began the week quietly, with some dullness evident. Tobacco shares were generally marked lower, but without an undue amount of selling after the announcement ■ that a further cut in tobacco imports was possible. Elsewhere among industrials prices generally remained quietly steady with very little business. British funds were easier, with losses of up to one-quarter per cent, recorded throughout the list.