COMPANY AFFAIRS.

Auckland Star, Volume LX, Issue 231, 30 September 1929, Page 4

COMPANY AFFAIRS.

FARMERS' FREEZING CO. THE ANNUAL MEETING. The retiring directors were 're-elected unopposed at the annual meeting of the Auckland Farmers' Freezing Company in the Chamber of Commerce. The report and balance-sheet, already published, were adopted on the motion of the chairman. Mr. Hallyburton Johnstone referred to the complaints from London that some of the pork sent from New Zealand had a fishy flavour. That, he said, is due to killing the pigs too soon after they have been feeding on clover. Firms had said in Auckland, "Send as many pigs as you like fed on fern root, but none that have been feeding on clover. . Pigs must have been off clover some time before they are killed unless you want to have fishy pork." The chairman said the Department was making tests in the matter at the present time and would no doubt report later on. A shareholder asked the reason of the falling off in the number of sheep killed during the past year. The chairman said there had been a reduction in the number slaughtered by other firms. The actual volume of sheep killed had been considerably reduced during the past year. "People keep sheep now for eight years instead of five, as was the practice formerly," remarked a shareholder, which caused another to add, "Lamb and green peas." . The chairman, m moving a vote or thanks to the staff and general manager, said they all had done faithful work in handling an immense business with comparatively few mistakes. He was glad to be able to state that a splendid spirit permeated the whole of the staff. Mr. Barough, in seconding the motion, said he had never known a staff that stuck together so well as theirs did. He contended that it was in the picking of a proper staff that the successful conducting of any business came in. The motion was adopted with applause.

KUALA KAMPAR TIN. FIRST ANNUAL REPORT. NET PROFIT £105,291. The first annual report by the directors of Kuala Kampar Tin Fields, Ltd., has just been issued. The company was formed on April 19, 1928, to merge three existing undertakings, Malim Nawar South, Kuala Kampar Tin, and Tanjong Tualang tin. The capital was fixed at £1,000,000 in 10/ shares, of which £585,000 has been paid up. The new concern seems to have made an excellent start, as net profits amounted to £100,189. To this is added £5103, paid by the vendors from their profits during the early part of the period before the new company actually commenced working. Three dividends, the first and second of 4d a share, and the third of 6d, have been paid, which absorbs £68,250, leaving £37,042 to be carried forward. "The value of tin ore won was £212,958, and the expenditure •on working account amounted to £92,659. The company's records show that during the year the average London three months' metal price was £221 per ton, the average ore realisation £135, the correspondent production ■price being £58 13/8, Royalty paid to the Malay Government amounted to £33,443. There has been a fair sale of this company's scrip on the local Exchange, and at present there are buyers at 12/6 for the 10/ shares, with sellers at 13/6. At 13/ the return to the investor based on the dividends paid last year would approximately be £8 17/ per cent per annum.

NEW REGISTRATIONS. PRIVATE COMPANIES. Jones, J. Ltd. Capital: £24,000 into 24,000 shares of £1 each. Subscribers: Auckland, G. E. Winson, H. Jones and EJones jointly 5125 pref. shares, H. Jones 7200 pref. shares, P. D. Jones 4650 ord. shares, V. R. Jones 2525 ord. shares, A. W. Jc-nee 4500 ord. shares. Objects: Austioneers, etc., and incidental.. Oborn, Robert Ltd. Capital: £3000 into 3000 shares of £1 each. Subscribers: Auckland, R. N- Oborn 2999. J. A. Rowe 1. Objects: Deal in hemp, kapok, etc and incidental. Eden Motor Body Co., Ltd. Capital: £4000 into 4000 shares of £1 each. Subscribers: Auckland, E. Dickson 3999, J. Alexander 1. Objects: Deal in motor vehicles, etc., and incidental.

MOSELEY EUREKA-MAYTAG, LTD. Advantage was taken of the presence in New Zealand ,of Mr. A., M. Pooley, managing director, to hold meetings of the New Zealand shareholders in Auckland and Wellington when Mr. Pooley explained the intentions in regard to the business of the company, in-New Zealand. A new company, Electric Labour Savers (Eureka-Maytag), N.Z., .Ltd., is being registered with a nominal capital of £50,000, which will acquire the entire business and goodwill of the parent company in the Dominion, and operate the various agencies held by the company as well as any other agencies which may be negotiated. The directors of the New Zealand company will be: Mr. J> E. Schloss, Mr. E. E. Hammond, Mr. R. G. Ross, all of Wellington, and Mr. T. U. Wells, of Auckland. The secretary, and. general manager will be Mr. W. N. Pharazyn. The parent company has declared and paid an interim dividend for the period to June 30, at the rate of 8 per cent per annum.