YOUNGHUSBAND, LTD.

Dominion, Volume 33, Issue 186, 3 May 1940, Page 12

YOUNGHUSBAND, LTD.

Increase Of Capital

Capital of Younglrusband, Ltd., was increased to £759,006 by creation of 250,000 new ordinary shares, of £1 each, at a special meeting of shareholders in Melbourne, April 23. It was also agreed that 125,000 of the new shares be issued at par in the proportion of one for every four now held. The chairman, Mr. Clive MdPherson, said that the issue would not be underwritten. He added • that the company's business showed general expansion, and, combined with the good season which had been experienced since the drought had broken in February, last year, the year’s figures exhibited a record turnover. The company now had a wider clientele than at any time previously. Wool receipts for the year ended March last showed a very substantial increase over last year’s figures, when a depleted clip had been received owing to the drought. Under the various headings turnover for the past year had been in round figures;—•Wool, upward of £1,250,• OOO; stock, upward of £2,250,000; produce, £360,000; and lands, upward of £200.000. The requirements of the company's clients for legitimate stocking and carrying-on purposes had been given sympathetic and careful consideration. The directors were satisfied that additional capitial was fully justified, feeling that the company should now rely more •on its own resources.