COMMERCIAL

Poverty Bay Herald, Volume LX, Issue 18205, 28 September 1933, Page 9

COMMERCIAL

IMPROVED POSITION 1 BARTHOLOMEW TIMBER CO. Although tho accounts of the Bartholomew Land and Timber Company, Limited, for tho year ended July 31 show a loss, after writing off £1657 for depreciation, at £272, tire deficit is considerably less than was the ease a year ago when tho debit to profit and loss account stood at £1428. The debit balance brought forward from last year was £1229, and it now stands at £lsOl. The report states: "‘Males for the year were maintained at the 1952 figures, but for the major portion of the period the average selling price was low. Competition tor orders is still very keen, but during the past two months sales show a considerable improvement. It. is hoped this indication means a definite forward movement m flic- industry.'’

CAPITAL REDUCTION N.Z. GUARANTEE CORPORATION A drastic reduction in the capital o'" the N.Z. GuarantQC Corporation, Limited, is proposed by the board ot directors. An extraordinary general meeting of preference shareholders and holders of fully-paid ordinary shares will he held at Wellington on Friday, October 6, to consider, and if thought fit, to pass tho following resolution:—--That tho capital of the company, now consisting of £500.000 divided into 20,000 preference shares of £1 each fully paid up, 4000 ordinary shares of £1 each fully paid up, and. 476.000 ordinary shares of £1 each, on which there/ lias been paid 8s per share, he reduced to £72,000 divided into 480,000 s ordinary shares of 3s each, and that such reduction bo effected in the manner following:—

(a) By paying off the whole of tho capital paid up on the 20,000 preference shares together with interest up to February 28, 1934, and by cancelling such shares.

(b) By repaying to the holders of the 4000 fully-paid ordinary shares the sum of 17s per share. In the event of the above resolutions being carried it is proposed:— (c) To repay to the holders of the 476,000 ordinary shares now paid up to Ss per share the sum of os per share.

(d) To extinguish the liability in respect of uncalled capital on such 476,000 ordinary shares to the extent of 12s per share. (e) To reduce the nominal amount of the ordinary shares from £1 to 3s each.

In a circular to shareholders, the directors, in recommending this proposal, consider that “it is essential for this step to be taken.”

SYDNEY STOCK EXCHANGE SLIGHT HESITANCY SHOWN SYDNEY, Sept. 26. On the Sydney Stock Exchange a hesitancy was noticeable in to-day’s market. The influences affecting operations were the easing of wool values and the decline in the price of gold. However, many leading classified stocks as well as banks presented a firm front. Sales: Bank of New South Wales, £34 2s 6d; Commercial Bank of Sydney, £lB 10s; National Bank, £5 paid, £6 17s; Commercial Bank of Australia, 17s 3d; Colonial Sugar, £59 19s; Mercantile Mutual Insurance, 20s 3d; Australian Provincial Assurance, 12s lOd; Associated New:;, 19s; ditto, pref., 19s 9d; Howard Smith, 12s lid; British Tobacco, 375; Tooths, 4Gs; Dunlop-Perdriau, 19s 3d; ditto, prcL, 33s 6d; Goldsbrough, Morts, 29s (xl: Iluddart Parker, 31s 6d; Electrolytic Zinc, 26s 9d; Fairymead Sugar, 29s 7jd; Morris lledstrom, 20s; Henry Jones, 38s 4Jd; Winchoombe, Carson, 28s; Greater J. D. Williams, 7s 9d; Farmers, 15s; Australian Iron and Steel, pref., 17s 3d; Lustre Hosiery. 1.6 s 9d; ditto, pref., 25s 6d; General Industries, 10s Id; David Jones,.33s 3d; Anthony Hordern, 11s 6d; ditto, pref., 20s; Drug Houses of Australia, 19s; Standard Cement, 16s 9d; Wilcox Motfliu, 9s; Mt. Morgan, 9d ; Bulolo Gold, 96s 9d; Bulolo Deposits, Is 8d; Kuala Kampar, 9s; Broken Hill Proprietary, 39s 10Jd: North Broken Ilill, 91s 6d: Commonwealth Bonds. 4 per cent., 1938, £lO3 17s 6d: 1941, £lO4 10s : 1944, £lO4 ss; 1947, £lO3 17s 6d; 1950. £lO4 12s 6d: 1953, £105; 1955, £lO5 7s 6d; 1957. £lO5 15s; 1959, £106; 1961, £lO4 17s 6d. MELBOURNE, Sept. 26. Sales: Commercial Bank of Australia, 17s 4d; ditto, pref., £8 16s: Electrolytic Zinc. 26s od; Howard Smith, 13s; Mt. Lvell, 24s