MOTOR COMPANY CAPITAL INCREASE.

Evening Post, Volume CVIII, Issue 83, 4 October 1929, Page 12

MOTOR COMPANY CAPITAL INCREASE.

Notification is made by the '"Mercantile Gazette" of the increase in the capital of -Mount Cook Motor Co., Ltd., from £30,000 to £125,000, by creation of E>5,000 additional shares of £1 each.

WAIEABAPA FAKUEBS

BRIGHTER TRADjE PROSPECTS

(By Telegranh.) (Special to "The Evening Post.")

MASTERTON, This Day

Mr. C. M. Bowden, chairman of directors, presided at the annual meeting of the Wairarapa farmers' Co-operative Association, Ltd., yesterday. In moving the adoption of the report and balance-sheet (as already published in "The Post"), he referred to the intense competition in towns in which the company operated. But the association had made headway at all points. Abnormal weather conditions had interfered with the earning power of the stock department, both in 'live stock and wool.' There had been doubt in the minds of many as to the future policy of the association. . "We feel that this difficulty has, been overcome," said Mr. Bowden, and confidently look forward to better trading Vresults in all departments during the coming year. "Our success naturally depends on the degree of prosperity experienced by the country at large," Mr. Bowden continued. "We are informed that the outlook for the coming year justifies confidence. In our districts the flocks are larger than last year, and given freedom from abnormal climatic conditions there should be marketed a wool clip above the average numb<s- »f bales.' The clip will offset any reduction in price." The percentage of lambing in the company's district was satisfactory, he added;' Prices for fat lambs might open at a lower figure than list year, when higher prices were paid than world conditions warranted.' In fact, it was anticipated ;that prices for all live stock would rule on a lower level than obtained last year. The dairy industry was looking for stable prices. Arrival of warm rains would bring pastures away and the country would then be in better heart than ever before. Fanners were reaping the benefit of their top-dressing, # herd-testing, and culling, and in general the outlook was decidedly cheerful. The chairman referred particularly to the proposal that contingent liability of £15,000 accumulative preference dividend for the year ended 31st July, 191S, be settled by asking preference shareholders to accept payment of arrears of dividend spread over six years, the association to pay 3% per cent, half-yearly, commencing from Ist January, 1930. The response to the circular sent out had been most gratifying There were 473 shareholders holdin2 J'JO^ shares ?or the ProPosal, and ,M shareholders holding 5768 shares against In the light of this the board would take steps forthwith to have a meeting called to give the proposal legal effect. Though power would be sought to pay a dividend on the ordinary shares, this should not be taken as promising a dividend for next year. It was desired to build up the reserves to some degree before resuming payment of dividends on ordinary shares? J.ne report and balance-sheet were adopt-

Messrs. H. G. Williams, A. Bower Knight, and W. Howard Booth reS directors were re-elected. Messrs. Seflar,- Watkins, Hull, Hunt, and Wheeler were re-elected auditors. » v "«aer