Business Gossip

Sun (Auckland), Volume 1, Issue 55, 27 May 1927, Page 2

Business Gossip

Hetherington Collieries, Ltd.—A: duly constituted meetings of shareholders of Hetherington Colieries,Ltd. held on April 29 and May 14, 1927, tfce following resolution was passed:— “That the name of the company he changed to ‘Renown Collieries, United.” Attention is now drawn by the company to the change of name under which it will trade in the future. New Company. —Yesterday one new nrivate company was registered in Auckland. Details are:—Lixie (N.Z.), Ltd. Objects: To acquire the Dominion patent rights for a substance known as “Lixie,” and buy and sell foodstuffs, etc. Capital: £B,OOO, in £1 shares. Subscriber's: Hemingway and Robertson Proprietary, Ltd.; €,O-)i shares; H. D. Robertson and Poison, Ltd., 2,000 shares. Wright, Stephenson Activities.— The 21st anual meeting of shareholders of Wright, Stephenson and Company, Ltd., was held at Wellington on Tuesday, in the presence of a large number of shareholders. The profit aad loss account, including £41,349 9s M brought forward from last year, showed a credit balance of £67,911 8s Bd. A dividend of 7 per cent, on the ordinary shares was declared, and the fixed payment to preference shareho tiers was adopted, leaving a balance of £33.464 16s to be carried forward. Messrs. J. A. Johnston and K- £. Abraham, the retiring directors, were re-elected. Messrs. Barr, Hercus and Company, auditors, were reappointed. Butter for Australia. —Greatly increased supplies of butter are now coming forward from New Zealand, states a correspondent, and the steamer M>eraki landed between 8.000 and 9W' cases, which will be offered for sale by Melbourne merchants at prices about Id a lb below the market late for fresh Victorian butter. According to figures supplied by the Railway Department, quantities of butter received from Victorian factories to# week amounted to little more than 6,000 cases. The discrepancy between this quantity and the normal deman has been more than filled by the supplies from New Zealand. • This has a® the effect of checking sales of butter, as merchants, after 1 age and other charges, are unable compete with imported butter.at 7d a lb.

Calcutta Jute Market. — Calcutta * vices state that additional rain have been registered in the jutegr ing districts of India, and crop ditions are generally favourable, had resulted in prices of raw j easing a little. The demand £° r sians from North America, which been the principal feature of tne ' ket in the last six weeks, a PP ea Vj )<l . have been satisfied for the bin ing. Export demands for S also had been small, and witn / 0 r proved jute crop prospects P both hessians and heavy ff*****.. declined. Only a few small tions in Australian cornsacks lor livery July to September in- - had been reported. Tota * sales for deliveries from .-,v to December next amounted to bales. No business had woolpacks for Sydney, but parcels in New Zealand si* changed hands for July-Augu ’j, ment. Trade in bran bags hao at a standstill.

Dalgety and Company, Ltd. extraordinary general meeting gety and Co., Ltd., held in month, to consider the question creasing the capital of tbe . from £4,500,000 to £6,500.000 &. creation of 100,000 new shares each, the chairman, Mr. E ; th* said that during the last 1* * -gtharprofits of the company had m doubled, without any increase” w share capital. Directors had , that the money provided by posed issue would rapidly be in the business and become tional earning factor. The ” . I(jerswould be offered to the *=ba Istby means of conditional allot c rdiF ters, on the basis of one new ary share for every two exist™ inary shares. The price, wou s a share in respect of oajuiai, premium which would be nx j e in time the offer of scrip iu May. Alluding to the dro g Queensland, Mr. Parker sal** eS . had completely broken 4 m* 11 -' ception of a small area, but gsparts of the State conditions favourable. To carry * during the time of stress in nC ?* heavy call on the company® and that was one of the * it was desirable the company have additional funds.