COMMERCIAL.

Otago Witness, Issue 2623, 22 June 1904, Page 36

COMMERCIAL.

Messrs Reeves and Co., Vogel street, have been appointed agents for the National Explosives Company, London, manufacturers of the National brand of dynamite, gelignite, etc. Mr H. D. Stronach lias advised us that, consequent upon Mr J. T. Wright's ab-ence-from the colony, that gentleman has resigned his position as director in New Zealand for the Indemnity Mutual Assurance Company (Limited), London. Mr J. A. Johnstone has accepted the invitation of tho Bead Office Board in Londou to fill tho vacancy. Mr Johnston© is also a director for the London and Lancashire Fire Insurance Company. Tho directors of the New Zealand and River Plate Company have decided to pay an interim dividend of 7 per cent, per annum for the six months ended April SO last.

A Wellington wire says that the creditors of William W. Beck, timber merchant, held a meeting to-dtiy, when it was stated

that the assets were estimated to produce £1250; liabilities unknown. The debtor disappeared early in May. A \Vellim'g,ton contemporary says: — "A well-known London financier, in a letter to a friend in Wellington, under date May 14, writes: — 'You will be pleased to hear that since the end of March a substantial improvement has taken place in gilt-edged securities. We got clear of our "Midlands," and '" Traais^-aals" are almost at a figure that would let \is out without losa. There is quite a boom in the scrip of recent issues. Even the new Irish land loan has jumped from 3s 9d premium to £6 premium. New Zealand 3 per cent, stock, I am sorry to say, is dull at 87 ; in facr, all colonials are flat — too many tempting investments coming on the market at present. The Japanese loaoa was a huge success — 'applied far 20 times over. We managed to secure a small slice of underwriting, for which we got 2 per cent, commission and no risk. Enclosed is a copy of the prospectus for your information ; 6 per cent, at 93£ went like hot cakes.' " The provisions of tha Companies Act of last session in relation to private, companies were specially designed for securing the continuity of proprietorship in businesses, and the act is "likely to bo largely availed of throughout tho colony for enabling businesses to be continued notwithstanding the, decease or retirement of partners and without cumbersome trusts. We notice that the business of Mollison and Co., the- wellknown drapers in George strest, has he-en registered as a private company under Part IV of "The Companies Aot, 1903," and wi'l in future bo known as Mollisons (Limited). The families of the. late Alexander Mollifoa and of the late James Mollison (who?e death we recorded la-st December) continue to ho represented in the company, along with Mr James F. Mollison the surviving partner of the. original firm.