COMPANY AFFAIRS.

Auckland Star, Volume LIX, Issue 226, 24 September 1928, Page 4

COMPANY AFFAIRS.

BARNET GLASS RUBBER. PROFITS ARE LOWER. The net profit of £104,938 shown by the Barnet Glass Rubber Company (paid capital £744,279) for the twelve months ended June is £25,733 lower than the record surplus of £130,671 earned for 1926-27. The year before that, profit was £106,889, and for 1924-25 £ 53,350. Gross profit shows an increase at £374,704, as against £361,450 last year, and £287,233 for the year before. Dividend payment to both preference and ordinary shareholders is maintained at 10 per cent. Preference shares are entitled to an 8 per cent dividend, participating up to 10 per cent, and after allowing for a full 10 per cent payment on preference capital, the last net profit equals 17.6 per cent on average ordinary capital employed during the year, compared with 34.4 per cent last year.

The sum of £50,000 is transferred to reserves, reducing the carry forward by £13,251 to £22,721.

Visible reserves total £124,463 and the surplus of assets over liabilities £851,963 gives an assets backing of £4 5/2 per £1 preference share, and after allowing for preference capital, of 23/8 per £1 ordinary share.

BASIC SLAG SUPPLIES. CHIEFLY FROM BELGIUM. The chief source of New Zealand’s supplies of basic slag is Belgium, whose steel mills produce high-grade slag of high solubility. In an address to farmers, during his recent visit to the Dominion, Sir John Russell, director of Rothamstcd research station, and an eminent authority on soils, said basic slag owed its fertilising value to its phosphate content, and also to certain other elements which were not exactlyknown. Figures supplied by Nir.- Armand Nihotte, Consul in New Zealand for Belgium. show the growth of the export trade of, Belgium in artificial fertilisers as follows:— Supcrphos- Basic pbafps. Slag, tons. tons. 1925 176,240 802,835 1926 282,329 913.827 1927 255.564 1,005,956 By far the greatest part of the above production was sent to Germany. Last year 47.000 tons ol basic slag was imported from Belgium into New Zealand. NEW REGISTRATIONS. The following new registrations have appeared in the “Mercantile Gazette”: — Increase of Capital.

Tileman, C. H. and Co., Ltd. Capital increased to £6950. in shares of £1 each.

Wallace, D. McL. Ltd. Capital increased to £34.140 by creation of 2443 shares of £5 each.

Hikmangi Dairy Co., Ltd. Capital increased to £39.000. in shares of £1 each.

Pioneer Cycle Works, Ltd. Capital increased to £7500 by creation of additional 3500 shares of £1 each.

Sanvarin and Co., Ltd. Capital increased to £2500 by issue of 500 £1 fully paid shares. Fairweathers. Ltd. Capital increased to £3500 by creation of 1500 additional shares of 4.1 each. Company Charges-.

Apollo, Ltd., to bearer. Debenture, August 14-31; 10 debentures, £10(1 each, 7 per cent; charged on undertaking and all property, including uncalled capital. Reo Motors, Ltd., to bearer. Debentures. August 24-31; four debentures of £lO,OOO each, 7 per cent; charged on undertaking and all property, including uncalled capital. Collections. Ltd., to M. A. L. Cook or holder. Debenture, August 10-31; £2OO, 7 per cent; charged on undertaking and all property.

British £nd Foreign Trading Co., Ltd., to C. L. Low, or registered holder. Debenture, August 28-Septem'ber 3;advances not exceeding £5OO. 7 per cent; charged on undertaking and all property, including uncalled capital. Holdsworth, Thos., Ltd., to bearer. Debenture, August 31-Septcmber 4; £6OOO, 7 per cent; charged on undertaking and property, including uncalled capital. Australasian Auto Import Co., Ltd., to R. S. Thompson. Debenture, August 27-September 9; guarantee bank account; charged on uncalled capital and all property, excepting lot 3 of allotment 14, section 16, suburl>s of Auckland. Zealandia Clothing Co., Ltd., to bearer. Debenture, September 10-12; £6000: col. charged on undertaking, plant, machinery, and goodwill (floating security). NEW COMPANIES. One public and two private companies have been registered in Auckland. Details are as follbw’s: — Public. Harrison and Gash. Limited, motor mechanics. Objects: To take over from W. A. Harrison the motor mechanics business carried on under the style of Harrison and Gash, Newmarket. Capital: £35,000 divided into 10,000 £1 preference shares, an! 25,000 £1 ordinary shares. Subscribers. W. A. Harrison, W. J. Harrison, A. E. Harrison. T. L. Harrison. M. Richardson, P. S. Boone and E. Baverstock, one share each. Private. Martin Publicity Co., Ltd., advertising contractors. Capital: £3OOO. divided into £1 shares. Subscribers: J. D. Swan, 1450 shares; E. Ferguson, 50 shares, and M. Dunne, 1500 shares. Johansen, Bayly and Millar, Ltd., indentors. Capital: £5OOO. Subscribers: H. V. Johansen. 1668 shares; H. H. Bayly, 1666 shares, and G. Millar, 1666 shares. “SUNDAY TIMES” LOSSES. “Sunday Times” Newspaper Company (Sydney) report a loss of £34,775 for the year ended June 30. The previous year a profit of £1456 was disclosed. The report states that in April last the whole of the ordinary shares held by Becketts Newspapers, Ltd., were purchased by Mr. A. E. Dalwood. Messrs. J. H. C. Sleemen, A. Hendy, W. E. Walmsley, L. G. Walmsley, and M. E. Pettinger retired from the board, and Messrs. A. E. Dalwood, W. J. Dellow, and R. J. Burchell were elected. The directors immediately inaugurated a thorough reorganisation of the company’s affairs. All assets of the company, including book debts, were brought under review, and items totalling £10.583 were written off. The capital is £200.000. of which £lOO,OOO is 9 per cent cumulative preference. There are debentures of £2OOO, an overdraft of £58,840, and other creditors of £4997. Assets, including goodwill of £73,000, are valued at £233,233.