PUBLIC TRUST

New Zealand Herald, Volume 80, Issue 24539, 23 March 1943, Page 5

PUBLIC TRUST

Estates to the value of £507.54 l were ac cepted for administration by the Publii Trusted during February. Grants of admin istration made, by the Court in favour of thi Public Trustee numbered 21S. and 611 new wills appointing the Public Trustee executo were prepared on behalf of testators. WESTPORT-STOCKTON MINE The Westport Stockton coal mine which according to the Minister of Mines, the Hon P. C. Webb, is threatened with liquidation showed a loss last year of .£(510, coiuparec with a net profit of £7173 in the prcvioui year and £7586 in 19-10. At the annual meet ing in Christchurch last month the chairmai of directors, Mr. W. Hardie, said the outnn was 311 tons lower than in the previous year although the company had worked 1." day more and 21 more men had been employed The loss of output, taking all these fact into consideration, was 17,000 tons, whicl would have bpen produced at very 'ittle exin cost. The main factor had again been nb centeeism, a problem general to all industries and over which at present no adequate contro measures had been, or could be, enforced. ■ resolution was rarriwl rpnuesting the director to consider the advisability of. closing th mine and putting the company into voluntar; liquidation to avoid further losses unless th Government took immediate steps to meet th company so as to compensate for losses cause through' increase in wages, stores, insuranc and taxation. The company's nominal capita is C 200.000, of which £197,78.5 is paid ur Assets at the last balancing totalled £225,90f including Government stock, £21,110. nil cash. £10,512.