P. AND O. STOCK.

Evening Post, Volume CVI, Issue 5, 6 July 1928, Page 12

P. AND O. STOCK.

United Press Association—By EJectrlo TeUcraph—Copyright. (Received 6th July, 11 a.m.) LONDON, sth July. P. and 0. Deferred Stock, £240 10s.FULLERS' AND HAYWARD'S PICTURES. (By Telegraph.) (Special to "Thb Evening Post.") AUCKLAND, sth July. The fourteenth annual meeting. o£ Fullers' Pictures, Ltd., and Hayward's Pictures, Ltd., were held yesterday. < Mr. P. A. Herman, chairman of directors of Hayward's Pictures, Ltd., referred optimistically to the passing of the recent period of comparative depression. Among the difficulties confronting the 'motion" picture world in New Zealand last year had been the trial of daylight saving which'had'seriously reduced the returns. •In a country like this of generous sunshine the wisdom of the measure was questioned, and it was hoped the experiment would not be repeated. The company held a -large interest in New Zealand Picture Supplies, Ltd., which had recently purchased the freehold of the Majestic Theatre Buildings in Invercargill, and had completed arrangements for the erection of new theatres iv Qhristchureh and Wellington, each with a seating capacity of 2500. An up-to-date picture theatre was planned for Nelson. In addition, New Zealand Picture Supplies had acquired five theatres besides a circuit of over CO houses controlled by it in the Dominion. The theatres at Ashburton, Oamaru, Invercargill, Timaru, and Duuedin were being remodelled; nearly all the expenditure was identified with freehold property which was purchased some years ago, and had since greatly appreciated in value, although capital had never .been written up on that account. A final dividend of 5 per cent., making 9 per cent, for the year, ended 10th April, 1928, was approved. Mr. John Fuller, of Sydney, chairman of directors of Fullers' Pictures, Ltd., presiding over the meeting of that company, was extended a welcome upon his return from an extensive tour abroad. Mr. Fuller said that although he did not. reside in New Zealand and travelled much, that was an asset to the company, since he closely noted abroad the moves of its competitors. While there had been an overboom in picture theatre construction in Australia, that was not yet pr-ouounced here, and the coming year could be looked forward to with confidence. Houses erected in the Dominion recently, however, were more thani sufficient to meet the needs for some years to come. Fullers' Pictures, Ltd., also declared a dividend of 5 per cent., making 9 per cent, tor the yeai\ ■