MISSING SCRIP

New Zealand Herald, Volume LXXV, Issue 23170, 17 October 1938, Page 7

MISSING SCRIP

INVESTMENT SAFEGUARDS INTERNATIONAL SERVICE The international movement of capital in the form of slinres and similar securities is not what it was prior to 1930. Nevertheless, it is sufficiently considerable to render important any information concerning lost or stolen share certificates. Occasionally in the press are seen notifications by a company of an intention to issue a fresh certificate in place of one which has been 'lost. These notifications, states the Sydney Morning Herald, are of great importance, for through them may come information to the company concerned of shares which have not been lost, but have been stolen, and have been innocently purchased by an investor. When there are international dealings the information t>f missing shares certificates becomes still more importnnt. From its inception the International Burt'au of Stock Exchanges has been considering ways and means of enabling stock* brokers, bankers and stockholders to be kept posted in a more adequate manner than has been possible so far of notifications of lost or stolen securities in other countries, for when such notifications have been made, the securities affected are not "good delivery." A plan which has now been adopted follows proposals made by a committee of the Paris Bourse and is based on replies to a questionnaire sent by the International Bureau to a large number of stock exchanges. The solution adopted consists essentially in the organisation of an exchange of available information between those stock exchanges which are members of the international bureau. Each stock exchange concerned will send information once a month directly to all other member exchanges. At the beginning of January of each year the information supplied will contain a recapitulation of all information filed during the preceding year. The scheme has now been in operation since the commencement of the present year and at the last council meeting of the International Chamber of Commerce the president of the International Bureau of Stock Exchanges was able to report that it was giving very satisfactory results.

TRADE WITH BRITAIN HINT TO DOMINION GENEROUS RECIPROCITY EXPORT MARKET BENEFITS "A generous reciprocal trade with Britain appears essential if New Zealand is to maintain markets and goodwill," said Mr. F. A. Hellaby, who returned to Auckland by the Aoranci vesterday after an eight months' tour of Britain and Germany. Mr. Hellaby was accompanied by Mrs. Hellaby and Miss Joan Hellaby. "When I left London trade and busineses in Britain could not be regarded as satisfactory," Mr. Hellaby continued. "The sustaii Ved state of gloom in Europe, and tho failure of the United States to lift herself out of depression, seem to be adapted by most people as the causes of the fall in prices, and consequent poor trade, with .unemplbyment. ' ' _ / - "New Zealand has been singtilarly fortunate that some of her principal exports are marketed exclusively- in Britain, and thus have not been touched by the price collapse in the United States. The Dominions continue to a privileged .position in Britain's markets. But one hears that a continuance of this position cannot be* taken for | granted."

MELBOURNE RETAILERS CURRENT YEAR'S OUTLOOK COSTS CONTINUE TO RISE Retail trading in Melbourne lias again given good Jesuits ' tor shareholders during the past 12 months, but the trend of earnings disclosed in the accounts of nine leading stores suggests that it would be a mistake for investors to expect anv increase in prolits or dividends for the current financial term, states the Melbourne Herald. - , „ . Reduced national income, following on the dfy season and the substantial 'fall in wool and wheat prices, is bound to affect shopping. What effects may follow from events in Europe no one can foresee. 1 •. All companies are faced with, the problem of finding a counter for rising costs. Some stores have been able to reduce expenditure .already, but it is extremely doubtful it anv can be expected to offset the higher taxation and national insurance contributions which they will be called on to pay this year without some intrusion into earnings. \ DUNEDIN BREWERY COMPANY NEW ISSUE FULLY SUBSCRIBED The Dunedin Brewery Company, Limited, has advised the Stock Exchange that the m>w issue of 25,000 ordinary shares of £1 each fit a premium of 5s each has been fully subscribed. NEW COMPANIES , SOUTHERN REGISTRATIONS The registration of the following new companies In Southern centres is announced in the Mercantile Gazette:— I . PRIVATE 'Millers (Wholesale), Limited (Christchurch).—Capital. *70,000, into £1 shares. Subscribers: A. R. Miller, 1: L. B. Miller, 1: Millers, Limited, 00,008. To acquire from Millers, Limited, certain stock, plant, machinery and other chattels, and to carry on business as wholesalers. Schering Proprietary, Limited (Wellington).— Capital, £2OOO, into 2000 shares of £1 each. Subscribers: Sydney, New South Wales—W Hald. 1708: P. J. Campbell, 100; Schering Proprietary, Limited, 100. Wellington—A. Haiti, 1; A. M. Cousins, 1. Importing. selling and dealing in drugs, medicines, chemicals, photographic, goods, X-ray material and all machinery and incidental. Drewertfs Auction Rooms. Limited (Christchurch).— Capital, £2OOO. into £1 shares. Subscribers: H. W. Drewery, 1000; D M. Drew cry, 100. Auctioneers, commission, land and estate aßcnts and incidental. Qoeenstown Mt. Cook Airways, Limited (Christchurch).— Capital. £IOOO, Into CI shares. Subscribers: Timaru-Mt. L. Wittley, (km); Mt. Cook and Southern Lakes louri.st Company, Limited, 100. Air services nud incidental. v INCREASE OF CAPITAL Star-Times, Limited (Nelson); capital increased by addition of £7OOO beyond registercd capital of A'J 0,000. / REDUCTION OF CAPITAL N.Z Automobiles Realization (Christchurch), Limited; capital reduced to £55,125 ftito 03,000 shares of 17s Od each instead of £50,850 into 68,000 shares of 10s each. BRITISH WAR LOAN British Wireless RUGBY, Oct. H War loan, 3} per cent, is quoted at £IOO 2s 6d, compared with £IOO yesterday.