NEW COMPANY FORMING

Otago Daily Times, Issue 18540, 28 April 1922, Page 2

NEW COMPANY FORMING

When the official figures of the annual imports of glassware into this dominion are consulted, some idea is gleaned of the bright future in front of the New Zealand Glass Works (Ltd.), a coippany that is now forming, to manufacture in the dominion all classes of glassware, including sheet gla?s, jam jars, bottles, etc. In 1920 over £600,000 worth of glassware came to this country from overseas. Of that sum, plain empty bottles alone amounted to over £125,000. So beyond question there l is an important, ready market in this country that will absorb all the glassware that the new company can manufacture for many years to come. This view is endorsed by the fact that among the initial subscribers to the capital of the company are such men as Mr Alexander Duncan, manager of Ward’s Brewery; Mr Thomas Madden, secretary of Staples Brewery; Mr J. R. Hayward, managing director of Hayward Bros., pickle and vinegar manufacturers; Mr T. R. Quill (Quill and Morris, wine and spirit, merchants); and Mr J. A. Redpath, of Christchurch. Many industries are vitally interested in, the bottle question—in fact, the present- high freights an dlosses through breakages are virtually strangling many businesses, and the new company is practically a popular movement that is assured of the fullest support from all users of glassware. Still more evidence that emphasises the success awaiting the ?A»w Zealand Glass Works is obtained from a review of the operations of the Australian Glass ATanufacturers Company (Ltd.), a company that operates under similar conditions of labour, etc., as those of New Zealand. Over a period of five years’ trading, the Australian Company -added the sum of £74,543 to reserves. Of this amount £39,429 was capitalised in June. 1920, when one share for every seven held, was given to the shareholders. In addition to this a 10 per cent, dividend was paid for the year ending March. 1921. As the demand in Australia for glass products is much in excess of the local supply, the earning power of the Australian , Company will continue to grow. A similar set of conditions await the N n w Zealand glass works in this country. The capital of the proposed company is £150,000. divided into 150.000 shares of £1 each. The minimum subscription for going to allotment is 35.000 shares. The proposed company appears to hold great possibilities for the investor.

It is Stated, and generally accepted in the Tuatapere district, that a well-known resident is a first cousin to Viscount Lascelles, who recently married Princess Marv. His surname is the same, and he is said to claim the relationship mentioned.. Until 1555, farthings were made of silver. One ton of coal yield* 10.000 cubic feet of gas. No more grinding of teeth with WADE’S WORM FlGS.—Advt*