COMPANY AFFAIRS

Wanganui Chronicle, 16 December 1949, Page 10

COMPANY AFFAIRS

PLACER DE V ELOFMENT The directors of Placer Development, Ltd., did not consider that on increase at present in the present dividend rate of 50 per cent, would be in the best interests of the shareholders, said the managing director, Mr. C. A. Banks, who presided at the recent annual meeting in Vancouver. Mr. Banks stressed the importance of maintaining a strong financial position. ASSOCIATED LEATHERS Associated Leathers Lid., Melbourne, has allotted 230,467 fully paid 10/- ordinary and 23,061 fully paid £1 preference shares, ranking for dividend from July 1 1949, in exchange for the whole of the capital hitherto held by minority interests in Michaelis Hallenstein and Co. Pty. Ltd., Sydney; Farleigh Nettheim (Queensland* Pty. Ltd., Brisbane; Rosenstamm Pty. Ltd., Perth; and Glendermid Ltd., Dunedin. INCREASED IMPORTATION OF VEHICLES EXPECTED As a result of recent Granges in tne political world a loosening up of restrictions which have prevented the free importation of tars from Britain could be reasonably expected, said Mr. S. J. Harbutt, chairman of directors of the Traders’ Finance Corporation, Ltd., at the annual meeting of shareholders. While this would not have an immediate effect, the company could look forward to increased business as soon as cars began to arrive. In spite of difficulties caused by import regulations, which restricted new car finance, the past year had proved very successful. The financing o fagricultural tractors had assisted in keeping up turnover.