Provision Of Finance For Small Companies

Press, Volume XCV, Issue 28261, 26 April 1957, Page 19

Provision Of Finance For Small Companies

The provision of medium-term finance for small businesses is the aim of a new company, registered in Christchurch this month. Called the Industrial Acceptance Corporation, Ltd., the company is the only public company included in the latest list of company registrations in Christchurch published ' in the “Mercantile Gazette.” Authorised capital of the company is £5OOO, of which £7OO has been taken up by the seven subscribers listed. Further shares are to be offered to the public and, according to a spokesman of the subscribers, it is intended to increase the capital regularly, as well as employing‘ finance from other sources. • “It is the small business which is expanding which finds it hardest to raise new capital,” the spokesman explained. “The oneman firm, or a business run by a man and his wife, often has to take in new partners to get the capital required for expansion. We feel our organisation will fill a real need by providing finance for sound but small businesses—mostly by way of debentures for two years or so.” Details of the company given in the “Mercantile Gazette’’ are as follows : Industrial Acceptance Corp. Ltd. Registered April 8, 95 Riccarton road. Capital, £5OOO. Subscribers—Christchurch: G. Fairweather, R. B. Soanes, L. C. Hibbard, B. A. Caygill, B. J. Moore, P. G. Ellis, C. L. C. Parker 100 each. Objects: finance company and incidental. Private Companies Private company registrations notified include the following:— Curtis Buildings, Ltd. Private company, April 8, 116 Lichfield street, Christchurch. Capital: £5OOO. Subscribers—Christchurch: J. F. Curtis 4500. M. C. and J. R. Curtis 167 each, G. F. Curtis 166. Objects: property and incidental. Wholesale Finance Corporation, Ltd. Private company, April 9, 95 Riccarton road. Capital, £2500. Subscrib»r»—Chri*tchi>rr.h: U C. *lOO.

B. J. Moore 600, B. A. Caygill 400, J. I. Young 300, M. M. Hibbard 300, A. H. Moore 100, M. O. Hibbard 100, J. R. G. Thompson 100. Objects: finance company and incidental. Jones and Day, Ltd. Private company, April 10, 9 Hunt street, Timaru. Capital, £lOO9. Subscribers Timaru: A. M. Jones 749, C. L. Day 250, E. F. Jones 1. Objects: painters, paperhangers and incidental. While You Wait Photos, Ltd. Private company, April 10, 29 Ottawa road, Christchurch. Capital. £5OO. Subscribers—Christchurch: A. E. Kirkpatrick 490, I. J. and R. H. Kirkpatrick 5 each. Objects: photographers, dealers and incidental. Restaurant Malando, Ltd. Private company, April 10, 813 Colombo street. Capital: £l5OO. Subscribers— Christchurch: P. J. Levy 870, J. Verwey 280, C. W. Van Heusden 245, W. De Bruin 105. Objects: restaurant proprietors and incidental. Darfield Trading Company, Ltd. Private company, April 10, 183 Manchester street. Capital, £lO,OOO. Subscribers—Darfield: W. R. and T. M. Main 5000 each. Objects: storekeepers and incidental. Mayflower Giftware and Interiors, Ltd. Private company, April 10, 20 Papanui road, Chris+church. Capital, £ 1200. Subscribers—Christchurch: R. H. Hammond 1000, P. F. Hammond 200. Objects: gift shop and incidental. Wainoni Dairy, Ltd. Private coy., April 10, 143 Hereford street, Christchurch. Capital, Subscribers—Christchurch: H. D. and L. J. Milliken 500 each. Objects: dairy proprietors and incidental. Lewis Imports, Ltd. Private company, April 11, 393 Armagh street, Christchurch. Capital, £4OO. Subscribers—Christchurch: J. McMillan 240, B. E. and J. A. J. McMillan 80 each. Objects: importers and exporters of leather goods and incidental. Glenrowan Farm, Ltd. Private company, April 11, 77 Hereford street. Capital, £5OO. Subscribers—Brookside: T. E. Brooks 400, D. M Brooks 100. Objects: farmers and incidental. Piesse Holdings, Ltd. Private company, April 11, 29 North road, Papanui. Capital, £4OOO. Subscribers— Christchurch: H. P. Piesse 3999, N. E. Taylor 1. Objects: land, buildings and incidental. Hunter Farms, Ltd. Private company, April 12, Beswick street, Timaru. Capital, £lO,OOO. Subscribers— Waimate: G. P. Meehan 9600, M. C. Meehan 400. Objects: fcirmers