NORTHERN ROLLER MILLS

New Zealand Herald, Volume LXX, Issue 21515, 12 June 1933, Page 5

NORTHERN ROLLER MILLS

SILO BLOCK EXTENSION ISSUE OF FRESH CAPITAL To finance the construction of a new silo block on freehold premises in Fort Street, the directors of the Northern Rolling Milling Company, Limited, have decided to issue 25,000 ordinary shares at £1 Bs. The shares are first being offered to shareholders and the balance of the issue will be offered to the public from July 17 onward. The works contemplated by the company entail large structural additions and the erection of a number of bins or containers for the storage, conditioning and handling of wheat. The capital outlay involves about £30,000, but iat is considered that this will not increase the cost of production. The premium of 8s each on the shares makes the dividend of 7 per cent on the company's capital, which, the directors claim, is reasonably expected, a 5 per cent investment on shares bought for £1 8s each. The authorised capital of the company comprises .'500,000 ordinary and 100,000 cumulative preference shares of i'l each Of this 200,000 ordinary and 75,000 preference share:; are at present allotted, making the paid capital, £275,000. The reserve account comprises a sinking fund reserve #>f £22,709 and bad debts reserve of £.'5000. For the year ended February 28 the company earned a net profit of £17,916, and dividends of 7 per cent were paid on both classes of shares. This would require £19,250. The shares were listed on the Auckland Stock Exchange in April and there was a sole of ordinary shares on May 15 at 295. At present buyers are offering 27s for ordinaries, with no sellers. NEW COMPANIES SOUTHERN REGISTRATIONS The following companies have been registered in Southern centres: PUBLIC Timaru Woollen Company, Limited, Timaru, to carry on business as woollen -manufacturers and incidental. Capital, £35,000 in shares of £1 each. Subscribers: —Timaru: W. H. "Walton, H. B. Johnstone, A'. S. Elworthv, J. McRae, H. W. Hnll, F. F. A. Ulrieh, P. A. Elworthv, II. _Elworthv, one share each. Harley Chambers, Limited (Christchurch), to acquire land for building .purposes, etc. Capital, £30,000 in shares of £1 each. Subscribers: E. A. Suckling, 250 shares; E. ]). Pullon, 500; C. A. Stringer, 250; G. H. Wood, 250; H. A. Charles (Nelson), 500; T. Andrews, 250; P. W. Fryer, 300. Goldfields Dredging Company, Limited (Dunedin), to mine for gold or metals, etc. Capital, £35.000 in 700.000 shares of Is each. Subscribers:—Dunedin: Industries, Limited, 20.000 shares; W. F. James, 10.000; (L W. Thomson, 1000; A. Burt, 4000; J. ,T. Martin. 4000; E. H. Levido, 4000; D. Campbell, 2000; C. Macdonald, 2000; J. Brook, 3000; W. Garrett, 2000; H. D. Iverr, 3000; R. G. Hudson, 2000. Arthurs' Point: J. McMillan, junr., 40,000. Queenstown: A. Smith, 10,000. Wellington: 11. Vickerman, 5000. Alexandra: W. A. Bodkin, 1000. • • PRIVATE Ross, Dvsart and McLean, Limited (Napier), to carry on business of garage proprietors, warehousemen and manufacturers of automobiles. Capital, £6325 in £1 shares. Subscribers:—Hastings: W. J. T. Boss, 2075; A. Dysart, 2510; G. A. L. McLean, 1740. MeCaskey (J.J.) and Son, Limited (Wellington), manufacturers, importers, dealers in sports, camping and canvas goods. Capital. £2450 in shares of i 1. Subscribers: J. ,J. McCaskev, 1000 shares; Catherine M. McCaskev, 600; P, J. MeCaskey, 250. INCREASE OF CAPITAL Addison Exploration, Limited (Auckland). Capital increased to £6OOO by creation of 4000 shares of £l. each. Morrinsville Co-operative Dairy Company, Limited. Capital increased to £BO,OOO by creation of 20,000 ordinary shares of £1 each. Maruia Prospecting, Limited (Auckland). Capital increased to £2500 by creation of 1000 additional shares of £1 each. COMPANY WINDING-UP Aard Motor Services Association of New Zealand, Limited. A. J. McLennan (Wellington), liquidator. Co-operative Cold Storage, Limited. M. S. Campbell, of Wilkinson and Campbell (Pukekolic), liquidator. WHEAT IN AMERICA WINTER CROP ESTIMATE WASHINGTON; Juno 0 The United States Department of Agriculture, basing its estimate on the condition of the crop on June I'as 64 per cent of normal, forecasts the winter wheat production this vear at 341,000,000 bushels. QUOTATIONS FOR FUTURES (Received Juno 11, 5.5 p.m.) CHICAGO, Juno 10 Wheat. —July, cents a bushel; September, 7Sg- cents; December, 80j cents. The New York quotation for cash is tt7jj cents. RABBITSKIN SALE STRONG AMERICAN DEMAND A strong demand, with price a secondary consideration, marked [lie rubbilslun sale lielrl in Dunedin hint, week. Dalgcty and Company. Limited, report on the Bale as followsTho improvement in prices has resulted in a bin increase in consignments to the sales and the catalogue was a largo one. The bulk of the skins were from outlining to winters, full season winterii being in comparatively sintiil quantities, but from now on the bulk of the sluns arriving should lie full winters. There was a-full attendance of buyers and competition was uguiu exceptionally shout;. The bulk ol' the buying was on American account and price appeared to be a secondary consideration. All crudes from autumns upwind showed a fnrtho r advance, compared with hi.it sale's rates, of approximately fid per Cent, with the exception of does, which compared with bnckit were neglected. Bucks were very strongly competed for, and spotteds hrought 73? d. seconds O'J id, and firsts 108 d. Prices for similar grades of does were ;i;id, 48d and 50d. Obviously the correct, advice to trappers i:j to consign their skins promptly, and sell without, delay. There is absolutely nolli ing in the London market to justify present prices. Tho New Zealand market, has been made solely by the demands on American account, and this is so notoriously tickle that anything might happen to tho market during tho next month, especially when larger quantities of winter grades will lie forward to provide a test of the stability of the market. Tho following prices were realised:—Runners, to B' ( d per lb; light racks, 123 d; prime, t.tid; downy autumns, 23d; early, 33-ld; lute, 43Jd; incoming winters, (123 d; curly winter bucks, SMJd: docs. fi2d; first spotted winter bucks, 73'Jd; second spotted, 58'1d; second winter bucka, 92} d: first winter, I08d; second winter does, 48(1; first winter, fil'id: spotted winter does. 33d: autumns spotted, 253 d; Into autumns, 36 }d; incoming winters, sld; early winters, 57d; autumn bucks, -177' 1: incoming, ('>:!<!; autumn does, 26} d; spring, I9|d; summers, 9d; milky, OJd: summer broken, 8d; autumn, 203 d; second winter broken, 26jd; . first, Ijlljd; summer blacks, 7d; autumn, 18|d; second winter blacks, 20Jd; first, :)0d: autumn fuwns, 12d; winter, 30d; iimull, Jid.