NEW COMPANIES.
PHENOMENAL REGISTRATION IN AUCKLAND.
..A feature of the commercial aetivities m Aueldand has been'the phenomoutlthpgvpr * tlon i°- f e . om P auies through- . the.yeai, and it is anticipated that by the end of December there will have been 200 new companies r'egister,ed. Already 194 new companies* have been registered at the Auckland office this year, which is a record. When it is considered that in the after-war boom m 1920 the number of companies i Watered throughout New Zealand for that year was 501, followed by 337 in ancl 417 the. following 'year, it will be recognised that the registration of 200 companies in Auckland alone for the present year is plienoiuSpeaking on the subject, a prominent sharebroker stated that the year had been an exceptional one in this respect .and not only had a very great number or private and public companies been piomotcd, but there had also been an exceptional issue of shares and debentures. Asked what this signified, he said that it was evident that there had been an impression that a large amount of public money was available for invest meat and apparently the impression' had been well grounded, for a verv number of shares and debentures laid been taken up by the public, and some of. the public companies had got olf well. The registration of private companies was no' doubt due to business 'folk finding that the banking facilities at present wore a little restrictive and irksome, and this means was used to get the use on better terms of some of the public money which was awaiting investment in solid concerns. There is, stated the broker, some indication at the moment that the promotion of new companies has been rather overdone, for some of the Corporation debentures are a bit. slow in selling just now, and several of the new public companies’ shares are hanging fire. Against this, however, there is a general feeling that next year is going to be a good commercial and business one, and brokets are expecting that after the year-end holidays there will be a brisk revival of registrations and share sales. —Wellington Post correspondent. _
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https://paperspast.natlib.govt.nz/newspapers/HAWST19241120.2.56
Bibliographic details
Hawera Star, Volume XLVIII, 20 November 1924, Page 6
Word Count
359NEW COMPANIES. Hawera Star, Volume XLVIII, 20 November 1924, Page 6
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