COMPANY NEWS

Press, Volume XCI, Issue 27593, 25 February 1955, Page 7

COMPANY NEWS

Milburn Lime Capital Increased.—The capital of the Milbum Lime and Cement wa ® increased from £550,000 to aci.uuo.ooo at an extraordinary general snareholders yesterday. The creation of 450,000 additional £1 ordinary snares./tanking for dividend, and in other respects pari passu with the existing ordinary issue, was authorised. The directors authorised to offer 50,000 unheld at their discretion, together with 100,000 shares of the additional issue so created, to present shareholders a Proportion of three for every w Held by each person at 9 a.m. on Monday, February 21.

Southland Frozen Meat’s Capital.—A suggestion that the capital of the South- ! aa ° Meat Company, Ltd., should be doubled was made at the annual meeting yesterday morning by Mr A. McMilof Dunedin. The paid capital was *®®l’ss4- whil e assets totalled about T 2,250.000, he said, while commenting on the balance-sheet. “When the company increased capital last September it did not go nearly far enough,” he said. ‘/The present capital could be doubled to give a far more realistic position. On today’s X?« lu . e^P ther competitors and the public think that the company is. making too mt *ch Profit. The dividend is too big and it would be better if it could be brought down to 5 per cent. It would be beneficial to the company and sharethe capital is doubled again.” i chairman of the meeting, said that the company was not paying an excessive dividend. A bonus payment had been included, and this would pe Clipped if business was not so good in future years. The dividend could then be left at its present level. To double (p’a 1 ) 1 n ° W would be a ™<*” move.—