THE BOWRON BROS.

Dominion, Volume 3, Issue 914, 6 September 1910, Page 5

THE BOWRON BROS.

COMPANY

PROSPECTUS WITHDRAWN,

SYDNEY BOARD DESIRES FURTHER INVESTIGATION. SATISFACTORY PROFITS. By Telegraph—Press (Rec. September 5, 11.50 p.m.) Sydney, September 5. The directors provisionally named in the prospectus of the Bowron Bros. Export and Trading Company as an Australian Board met to-day, and decided not to proceed with the registration of the company under the existing circumstances, tho Wellington directors having retired and asked for the withdrawal of the prospectus. . Compliance . with the' request of the retiring directors was considered necessary by the Australian Board; who are of the opinion that' the vendors- and promoters should vindicate their statements by a further authoritative investigation before, the company is registered. To-day's meeting was advised that three separate firms of New, Zealand public accountants had certified to the following figures for tho period covered by the prospeotus for the fourteen months ending September 30, 1908:—Net profits from leather, grindery, and fellmongering business (excluding income from ■ investments ' and other sources), £24,845 ; and for the .twelve months ending September 30, 1909, £24,267. : , Authenticated figures by an independent chartered accountant were ,also produced,which showed even larger profits .than appeared in the first prospectus. An announcement, was made that the vendors and promoters intend to issue a revised prospectus at. an early date, and, that vacancies on the New Zealand Board,have already been filled by representative citizens at Ch'ristchurch. A copy of the accountants' certificate referred to above will be found elsewhere in this issue.