Company News NORTH BROKEN HILL

Press, Volume XCIX, Issue 29179, 13 April 1960, Page 21

Company News NORTH BROKEN HILL

(N ’ Z - Press Association—Copyright) MELBOURNE, April 12. North Broken Hill, Ltd., leadzinc producer, has created an investments revaluation reserve account, from which the previously announced nine-for-one bonus share issue will be made. Directors say that in this reserve “there is sufficient to pay up in full the bonus shares.” The proposed bonus will require £16.300,000, and will lift issued capital to £A7 million. As uotninal capital is only £700.000, directors propose to increase nominal capital to £l5 million.

In its circular to shareholders outlining the proposal, the board emphasises that it has no present intention of issuing the £8 million which will remain unissued after the bonus. The company intends to consolidate capital after the bonus into 10s shares. The effect of this will be that shareholders will receive five 10s shares for each 5s share held. The directors’ proposal will be considered at a special meeting on May 9. New articles of association for the company will also be presented at this meeting. Purpose Of Northern Steel Issue. (New Zealand Press Association) AUCKLAND, April 12. Proceeds of the premium issue of 40,000 £1 shares by Northern Steel Supplies, Limited, Auckland, will be used for participation in the proposed merchant steel bar mill and other expansion, directors says in a circular letter to shareholders. As announced earlier, the shares will be issued at a premium of 5s a share in the ratio of four for 11. The shares are payable in full on application for which May 31 is the last day. The bonus issue of 25,000 shares will be made at the same time in the ratio of five for 22. The bonus shares will be marked as B shares. Both issues will be made on holdings as at May 2. They will lift paid capital to £175,000. The 65.000 new shares will not participate in any dividend over the year ended March 31, but holders will be entitled to two-thirds of any interim dividend over the current year. National Mortgage.—The company has altered its annual balance date from September 30 to June 30, commencing this year. It is expected that the annual meeting will be held in December. Record Number Of New N.S.W. Companies A record number of 5518 companies was registered in New South Wales last year. They included 5200 locally incorporated companies with a total capital of £230.6 million, and 318 foreign companies with a total nominal capital of £74.3 million. The new registrations brought the number of locally incorporated companies carrying on business in New South Wales to 39,047, and that of foreign companies to 3117. BUSINESS PERSONAL Mr M. A. Kemp, formerly manager of the Wellington branch of the Hartford Insurance Company, Ltd., has been appointed superintendent for New Zealand of the T. and G. Fire and General Insurance Company, Ltd., with headquarters in Wellington. Mr P. E. Webb, mariager for N:w Zealand of the Norwich Union Life Insurance Society, has been elected chairman of the Life Offices Association of New Zealand for 1960-61. Mr C. W. Dodds, manager for New Zealand of the Mutual Life and Citizens Assurance Company, Ltd., has been appointed deputy-chairman. BURNSIDE (New Zealand Press Association) DUNEDIN, April 12. The entry of fat cattle at the Burnside sale today only numbered 236, as against 230 last week, but it appeared to be too many. Because of the short shopping week butchers did not seem to require the same supplies. The sale opened a shade easier than last week, and this level was more or less maintained until the concluding stages, when values fell away to the extent of £2 to £3. Cows and heifers were in short supply and met with a better sale The total entry of fat sheep varied little from last week—34l4 as against 3489. With ewes predominating and few quality consignments in the wether entry, competition for all prime hoggets and wethers remained steady throughout the sale at prices similar to last week. , Little interest, however, was taken in the full mouth classes. All good butchers’ ewes both early and late shorn also sold steadily at late rates. Freezing and potter types were a shade easier than the previous week. There was an increase m the fat lamb total, to 300 as against 170 Quality was higher than ha. been the case for some weeks. Rates generally were similar to recent sales.

Extra prime heavy bu ’ l ®^ k ®’ 17s 6d; prime heavy. £5O 7s 6d to £5B 2s 6d: P rlme - £ 44 ,? s R H d £« 2s 6d; medium, £4 2,? s .,® d J £42 17s 6d: light, from £34 17s 6<l Prime heavy heifers, to £42 /s 6dT pXe 2s 6d to £3B 7s 6d; medium, £3O 7s 6dl to £33 17s 6d, light, from £26 7s 6d. Prime heavy cows, t 0 43 L s 6d: prime. £35 78 6d t 0 A 3B ,£ medium. £2B 7s 6d to £32 12s 6d, licht, from £24 12s 6d. Prime medium hoggets, 60s Id t 65s Id; light, from 52s Prime heavy 7 oung Id Id to 65s Id: prime medium, 48s id to 55s Id; light from 40s. Prime old wethers. 45s Id. prime medium. 32s Id to 39s Id. Prime heavy ewes. 34s Id to 40s Id; prime ewes. 27s Id to 30s Id. prime medium, 19s Id to 25s id. light, from 10s. ld Prime heavy lambs, to oss prime, 50s Id to 55s Id: medium. 42s Id to 47s Id.