Business Gossip

Sun (Auckland), Volume I, Issue 131, 24 August 1927, Page 2

Business Gossip

London Fruit Market Weaker The New Zealand Fruit Export Control Board advises having: received the following cablegram from Colonel c Gray, the board’s representative in Lon don:—“The Corinthic’s shipment ipractically cleared. The market i* weaker. It is anticipated that the last 1,800 cases will average 14s to ISs Thev are mostly Stunners. Washingtons art in bad condition.’’ Companies Registered.—Yesterday two private companies were registered in Auckland. They were Nations 1 Tours Ltd. Objects: To acquire from A s Blackie liis business of tourist booking* travelling. advertising and commission agent, etc. Capital: £1,200, in £l shares Subscribers: A. S. Blackie, 845 shares- 'W H. Horton and A. H. Smith, 100 shares each; R. M. Algie and D. H. Grant, 50 shares; L. Barry, 25 shares; A. J. Ackerv 20 shares; R. G. Sellar, 10 shares. Allen and Findlay, Ltd. Objects: To acquire the business of grain and seed merchants carried on by W. F. Allen, etc. Capital: £I,OOO in £1 shares. Subscribers: W. F Allen, 540 shares; S. Findlay, 450 shares' M. A. Allen, 10 shares. Rotoiti Timber Company Feels Depression.—ln common with other industries, the Rotoiti Timber Company. Ltd has experienced two bad trading seasons states the report for the year endeti March 31, to be presented to the annual meeting of shareholders to be held on August 30. Trading conditions have been extremely difficult, and for a period short time only was worked. With the resultant increased costs of production the company made a loss for the year of £159 15s lOd after charging £3,517 4s lOd to depreciation. The present stock on a conservative basis should realise, when sold £IO,OOO, which with book debts owing £2,159, gives liquid assets of £12,151*! Against this there is a bank overdraft of £9,000, unpaid accounts £2,735, and unpaid income tax £1,017. To place the company on a sound footing it is proposed to offer the balance of unissued capital in the form of 8 per cent, cumulative shares. The retiring directors, Messrs. J. M. Hume and W. H. Rose, offer themselves for re-election. Northern Boot Progress.—lncreased business for the year as compared with that of last year is shown in the annual report and balance sheet of the Northern Boot and Shoe Manufacturing Company for the year ended July 31, 1927. The net profit is shown at £3,171 Is 2d. which, with the balance of last year’s account, makes a total of £3,356 14s XOd available for distribution. Ten per cent, has been written off the plant and furniture accounts for depreciation, and a dividend of five per cent is recommended. This, with directors’ honorariums, will absorb £925, leaving a balance of £2,431 at credit of profit and loss account. The gross profit for the year was £7,085 11s 4d, as against £5,373 12s in the previous year. Bad debts and depreciation absorbed £1,284 (£1,292) and general trade charges £3,144 (£3,412). Stocks of materials, boots, etc., appear in the balance sheet at £14,513, as against £14,968 in the previous account. Following is a comparison of the company’s results for the last three years.

The retiring directors, Messrs. G. Winstone and G. 11. Fleming, offer themselves for re-election.

1925. 1926. 1927. Brought forward. £3,735 £3.120 £2,185 Net profits .... 385 *935 1,171 £4,120 £ 2,1S5 £3.357 Dividend .. 5 — 5 Amount . . . . 750 —. 750 Directors 250 175 Carried forward.. £3.120 £2,1S5 £2.422 •Loss.