COMMERCIAL.

Dominion, Volume 1, Issue 82, 31 December 1907, Page 7

COMMERCIAL.

LOCAL'COMPANIES TEARING IN THE UNITED KINGDOM.: . ;. : , The new Companies' Act recently passed in , the -British Parliament comes into' force tomorrow..- It imposes certain, obligations'uponcompanies incorporated outside . the United Kingdom; in, Australia, for. instance, which have a place ; of business within the. United Kingdom. In-the past these. companies in-• corporated outside of tho United- Kingdom, which, in , this . connectipn, may bo called foreign' companies, .have not needed to comply ' with any of tho requirements of' the . British Companies' Acts. . Such companies were entitled to carry on business in the United' Kingdom in tho same way. as individuals: . Under tho new act any foreign company:that has a place of business in the United Kingdom will, within three months from the com-! mencenient of the Act, or ono month from tho establishment bf such place of business, : bo required to file with tho Registrar of Joint btook Companies at Somerset House :-ri . \ (a).. A .certified copy of the charter,, statutes, '■ or- memorandum and article's .of association of tho oompany, or other instrument constitub- ' ing or defining the constitution of. tho' com-'-P a "F. ■■;-■'. - -, ■■■■ ■'•'■ '.-"'. •'•--'.-. (b) A list.of tho directors of the company. ' (c)The names and addresses of some person' orl persons resident •in the United Kingdom, authorised to accept on. behalf of tho company'service...of ..process, .and any .notice required to bo served oh. th'e_company.'. >'.'■' ...''..' .' In' the 'event bf'any alteration being 'made '■- iu: : the charter,-statute, or other instrument constituting or defining the constitution of. tho • company, or in .the.list of directors "or ad-. drosses of tho, persons authorised to abcept service ow bohalf' of the company, the com-'■: pariy will have to lodge with tho : Registrar' notice of -tho. altorntion jwithin -some time to be'-- hereafter prescribed. -Foreign' companies having.a'.place-Of business: in: the U.K.- will • in addition; bei.rcqnirpdrto file' with tho Eegis-'' .trar- of , Joint. ?Stock .Companies! once.in each ye?.r. a. stntementi.'.mado-: up .to. such-, date as may bo specifiod therein,, in tho form'of halance : shoet, audited by .tho cpn<pany'B auditors, arid containing a summary of its capital,' its', liabilities, and 1 assets, .etc:, but need not' . inoludca. statement' of profit and": loss;' 'It: is - to: bo-rioted that this provision does'not apply ■ io'.'a pnyato/company, which-is defined, by' tho' ' .Act ,to : mean a company which byY" its articles;— •'■:■ ■.'. , :'-'-\;.-. ■' -V.'■;!''•■■ ,"•-.■' : \ :;■'■-'(•■■ ; (1)-Restricts ; the .right toi transfer shares'/'*; ! (2)- Limits • tho number■ of its• members '• (exclu-:; sive- of persons who aro :in, the employment l of. tlje. company) ,to 50.. ; .v.-'. ' (3) Prohibits any invitation to.the,public to, subscribe for any shares or debentures of-the company. . ■■/ ...,.,.- "'..-, •" '•'•■<' ■ Every' foreign l company having-j. plhco ofbusiness in' tho United. : Kingdom -winch uses the word "limited" as. part of its nan\e will .bo-required:—-'..","' : : '.'•."■"', •'.'•-• •'■-. ; (1) In every -prospe6tus' ; inviting subscriptions'' for:.its .sharesvpr debentures in the-United - 1 Kingdom testato tho country-ill which: the ■ companjtis incorporated; A . '-"v ■'!':■:,''"-.;:. (2) .To-conspicuously exhibit on, every place'; where., it ...carries on- business' in tho; United/ Kingdom.,tho. name,of: tho company,, am| the" country in which it: is incorporated. ■'■: ■. (3)'-. To have v the name of. the company, .and the'country in Which it. is incorporated men-1 tioned- in- legiblo ichafactors on air bJ!L>;Gflda. and letter paper,'and oil' all notices, advertise--' ments, and other official publications of tho' company.. .:/: •.'-.. ■..-'.''■.;■.•,' •".'.,•':■;''.''" .Failure, by any company, to, comply with the abovo provisions'will ronde'r the company and ; : every - office;:; or agent. of-: the company liable • ,to, a fine., not .exceeding i£Sff,' or -in theicasa-' of a. continuing offence, not exceeding v£i-for overy:,day. during which-the failn're continues,. A fee.'of :.ss. :is.:chargedi by the . RegistrU for-, : each document filed. 3t is provided- that a • ■ sluire'transTer or sliare:'register pfneo shall'pVdeemed a place of business within the meaning of the/Act...,,'.■"""■:'',':■ '":'•.'•'- / ",\\, '"• : .-'"■.'. :: :''.'..:•.;";./.'. GRAIN. AND PRODUCE, v'.\--v \ v Laery ahdv'Cev, ' Ltd.,- 'Wellington, report'' wholesale prices ruling 'on the ■ iriarkotl:—Mill--ing. wheat 6s: 2d.;, fowls' ss. ljd,;,- oats.l Us/Bd.--to,3s. 10d. v ; maize, 4s. M.' lo"5s;; : crushed'.uialt, 8s; j Prussian blue pens. 6s. Cd., fowl peas: 4s". 6d\to Js.:9d.,' all at per bushel; .flour.. New Zealaud, ,£l2, Australian, .£l3 15s. j pollard, JBG Us. :to ; -M: -lSs.; -.bran,, :&. 10s. to, .£5 barley, i£p "; split peas.jeiß-ilOsribcan meal;', £6 ' :15s';;■■'-bonedu6t, I £6 ; superfehosphates, ' £i .15sv/.tor,iCsi- ss. ';■'■■; chaff (oateri'-sheaf), M 10s.";" ■■ :oatmeal, £W; bacon; factory.'sjdes 8d., ; "hams".' 'BJd.- to pa.,: rolls" B}d. : ;' butter, bulk 'pastry 7d.* ; ts.Sd,; poultry, hens 2s. 6d. |o 35.; ducks'Ss." ,to"Cs.; turkeys, gobblers 15s'. to 225.,-hensißs/ ,to 95., alb at per pajr; cauliflowers, 4S: to 95.; cabbages, 2s. toJs., all at' : pcr:sack; 'green' peas,,9d. to 16. per peck; fresh'.eggs,-.'ls. 2d." to. Is.'.;Bd. .pe.r.dofen;- cheese,' factbry 6{d. : per' lb.; onions, £d per ton.' ... '.':" BANK OF: RETURN; " ; .Bt rEiEaairn—i;ebss r ' ": : London,' December 29. ■, Tlioßanldof England return issued for th» ■• week ending Wednesday, December 25, is ai" under:— •".-• ■ ',/ -'. ■ : :;- .':■'■ .■ ■ .'....■■; Issue Dr,PAnTSrENT;' ; ' .-.',' I''\', Notelssua' £48,203,000 Gov.aobir"-'■"SUJtnßfftt'r- '■!'";■'.■': " Othersequii- : - ■->■•:• ■ ■ •". •■.--..- ' .'- .''ties-..'. .-..-,.. 7.«4,0M ; ■'.'..','■■■' ■■' " , Gold , ... 20.754,000./,'£48,503,033 :'. . £48.203,000 .. , ;'" ' '..",) . .BANiaxG DEPAnntEXT.. ■ ■"•' • : '. - : . "; .Proprietors' •'■■' . Govt, soouri- ■ '■ " ' • ■ '•"'>' '.'■;: capital •: .£14,533,000 - ties' '■ : ..s. £14,332,000:'' J Public 'de-' ■ Othersccuri- '.'- : •'..■• posits..... 5,625,000 ties ...'33,035.000-- -. Other : : de- '■'- ~ •■- •.-:- '■'■■■,-- -"v. : ;',- posits. ..; . 43.506.C00 Notes:' ..."'18,663,000V ' ■ Eest, 7-day '•. ■'-')'' .•■:-.-.-h-.',,■".■•; •: '"and other" ; '.■ ' : .\-. ' Coin ""' ~; . , 893,009 :■'.' 'i' f - bills ■... ,8.335.000, - ,-','.:',''.';'.■■ "..■": ''■■ '•'. •.'■'.'.•';,'■; £67,0i»,0(» '. "-. ;. A '' .«7,0i9,C00',' .'•• The leading' items' of the Bank of England" return afford tho: following comparison:— •'.;'.' •-.:.. ' : :-:-. This wook.Tjast week: Last roar.,.: - '■' Bullion : .'.; : ''' .'..'- f9.754.000 31,157,000 27,055,000-.' ;' ; , - Ilosorvo.V.:- • ... 10,1:33,003 -22,399.0X1" 18.710.fc00 i'"' ■ Notccb-culatiou 29,514,000' 29,127,000 23.795,0)0 i: ' " ■•"."■ Doposits :.,. ..-.!.. 49,131,000. 43.729,000 . £0,337,000 Proportion ."■■.--.. • ■■;■■ '■ '.-..-- '■■".'■■,• '■ ' . roEOn'cto '.•■■''••.'■!•.'■''.-.'•■'.•■ ■ . ;■.'•'.■■' •:■.-••■- :. : .39.99 ;.■:■; 45.90 .".'■. 57.13'..'. . :;:'jv^vGOVERNMENT;' SECURITIJES;:. ]/\ ' > 'The following, arc' the latest quotations '.for'. Government,securities'...with-'o coriiparis.on.of;:. those'ruling.'last week;—..,' .' ~,:.:■' ..:.).,

■I ■;•; ■ 'WlieaC—lndian advices indicate- that owing'"■; to the drought in the .Punjab; the wheat area .has been reduced fro'in'ninc million to five mil- ; '. lion- acres. .;;■■'.<;':'! .'''••:'■'.'."• ..:.'■.-.'. j .'"J '■ Rabbits."—Market is dull; largo: ;Victoriah; 12s.:Gd. tb'Ws: v v-'.; ~,,; ■•*■.• ■•■ ".?> Hemp.'—New Zealand ,is inactive.-' January.,' 'March shipment is quoted .-C27 10s. , ; Meat.—The markot. is - 'unchanged;:'. ,' • ' ■ -,' ';,: <^ : — THE METAL MABKET.'■', ' -~V-/' Tin.—Spot, ■ JEII9: per: ton;'-. three monthr ■'•"'■ ,£l2O is.. ' ..'. '. .... Lead, J!l4 per ton '.] ' -•"'"; 'Silver, 2s. ojd. per o«. • •' ' : ' Iron, ,£2 Bs. 10(1. per ton.'/.': '' - ; ; Autimony { cS3.lOs. per-ton.; ~ ; :i' ; . EONDCf IURKETfT '. ' >' : The Department : of-Industries: and CommeriJs lias received the following cablegram from, tho High Commissioner, dated London, December ' 23:— - ' ■•- . r ■ r •';.". . ! Markets: very quiet j; no business: doing on account of- the: Christma- holidays. 'Nominally-! therp is no .change/, in-prices. . - ,■. . ; - ■ . ':': Dalgcty and: Company, Limited, 'Wellington,havo received tho following cable messagefrora' • their London house,-under, date of December :27:- ' .-,..■■ ,' . ; .... ~ '■• Butter.'—Market firm. The Copenhagen official quotation is unchanged. Tho total imports of butter into the United Kingdom for :tho week ending December 21 amounted to as compared with". US.OOOcwt. for tho corresponding week of 190G; showing a decrcaso of 21,O00cwt. Finest, 118s.; unsalted, UOs. ■■'■"-" ; Frozen Lamb.—Prices arc rather lower. :

• :,■ ''■,. ,'.•:■' '. : - ■ .."'.'•.■■■... " ..Variations"'' '•"'—'■,■' : ; "'' 'Prion" compared • ■ '-.-':. ■." . lnc ° . . -with-',' ■ ■ • ; -: ■ ;. ■ ." . ■ -lastweek/ ■ 55% Imperial 'Consols'..'.'- ... ' %! 12 6 Unchangedi : ■4 „-N:B.W.-1303Jim.-,Tuly : .' ... 105: 0 0 •'■ 'Unclmuuod . .8} ;,N.S.'W.llU8Ma^opt'-:■;'.; '93 0 0. Unchanged'■: •3',;lf.S.W.'1035Apl.-Oct'.:".i" .85 0 0 Cnchaneod .. i „ Vic.maiJon.-Jiilv::.' ... lOl'O 0 Unchanged. 35 „ Vic.l'jai-O.lan.-Jnly''-; :.. - 93 0'' 0 ' ' Unchanged 3 ,, Vic.192949 Jan.July.''...-\S5 0 0' .'Unchanged'-'.'' 5i„S:A.1816.Tan.:Jnly .- ... 100 0 0 Unchanged 3 „ B.A.1016J8.n.July. ; i:. ,85100 Unchanged!' i „ QTdl921-30Jan.-,Tuly '...10300 Unchanged. Si „ «TdUBMOJori.-July :... 90 0 0 Unchanged 3. ;,QTdl9'2^7Jan.>.Ttily;..:.: M 0 0, .Unchanged4, ,'. K.'Z. 1020 Mar-Nov. . ... 105 0 0 Unchanged ; 35,, ..', 99,0 0 Unchanged 3 „ N.&..1940 Jan.-Jnly:. . '... 8110..0 : Unchanged. ' Si „ W.A.19»35MBy-No'y .;. .95' 0 0 ' . Unchanged ' 3 „ W.A.1915-35Jitay-Nov .84 0 0. Unchanged• 35„"Tas.I920-iO.JaiWuly .... 03:0-0 .Unchanged'.' 3 ..'Tas.39S!0-<0Jan.,7nly ... E510 0' Unchangod "