PUBLIC ISSUE BY MARTON SASH

Press, Volume CIII, Issue 30399, 25 March 1964, Page 25

PUBLIC ISSUE BY MARTON SASH

Group Facilities To Be Extended "The Press" Special Service AUCKLAND, Mar. 24. The public issue of £200,000 in registered mortgage debenture stock by the Marton Sash, Door and Timber Company, Ltd., will open on March 31.

The prospectus for the issue states that funds will be used to extend group facilities, particularly in Palmerston North and Wanganui, and in repaying certain mortgage and bank borrowings. Minimum application is for £5O. Application has been made for official Stock Exchange quotation of the debentures. The company has a paid caiptal of £260,000, and in the year ended March 31 last returned a group net profit of £28,456. A dividend of 7 per cent was paid. The balance-sheet as on September 30 last showed current assets of £550,304, investments of £21,302 and fixed assets of £479,673. Current liabilities totalled £316,160 and term liabilities were £144,693.

Take-over By Odlins (N.Z. Press Association) NAPIER, Mar. 24. The oldest established hardware business in Hawkes Bay, Henry Williams and Sons, Ltd., Napier, today announced that the business had been taken over by C. and A. Odlin Timber and Hardware Company, Ltd. The transfer of the 102-year-old business at an undisclosed price was announced by the managing director (Mr E. Williams). He said today: “The business will be continued under the present management but would later operate as a branch of Odlins while still retaining the name and association of Henry Williams and Sons.” It is understood that Odlins have taken control of the family-owned business by purchasing all the shares. The deal will not involve the lay-ing-off of any staff of either organisation. Investigation Urged (N.Z. Press Assn.—Copyright) SYDNEY, Mar. 24. The chairman of Australian Factors, Ltd. (in receivership), Mr A. E. Armstrong, has asked the New South Wales Government to investigate the company’s affairs. Mr Armstrong made the request in a letter to the New South Wales Attorney-Gen-eral, Mr R. R. Downing. Following a request by directors of the company, Australian Factors was earlier this month placed under receivership. Marrickville Sales Rise (N.Z. Press Assn.—Copyright) SYDNEY, Mar. 24. Marrickville Holdings, Ltd., food processor and bowling centre operator, lifted group sales in the six months ended December 31, said directors in an interim report. Profit was maintained at a satisfactory level, and sales trends in the early part of 1964 have remained favourable. New Zealand interests continued to achieve excellent results. Directors said they were confident that satisfactory profits would be maintained. The interim dividend was maintained at 7i per cent. Total payment last year was unchanged at 15 per cent.