SOUTHERN EXCHANGES

Sun (Auckland), Volume I, Issue 164, 1 October 1927, Page 5

SOUTHERN EXCHANGES

YESTERDAY’S SALES fress Association. Wellington: Bank of New South Wales, £43 10s; Wellington Gas (ordinary), 27s 9,| Christchurch: English, Scottish and Australian Bank (Royal Bank issue), £7 7i- Bank of New South Wales, £43 10s (■wo): South British Insurance, 57s 6d; talgety and Co., £l3 6s: Howard Smith, 23s 3d; Feath and Co., 32s 9d; Waihi, 22s 3,7; HlVurangt Coal (pref.), 6s 8d; Union Bank £l4 13s 6d; Goldsbrough, Mort, 465; Christchurch Gas rights, 6d. White Island Products, Ltd. —Reporting to shareholders for the first annual meeting scheduled for October 10 directors of tile White Island Products, Ltd., state that owing to a tariff war which developed between existing companies it had been deemed advisable to withdraw from aetive prosecution of the sale of the company’s product until the market became normal. In tie meantime exploration oi the sulphur deposits on the island has been carried out and negotiations have almost been completed in England for the sale of 40,000 of the company s unissued shares at par, and the proposed subscribers have also, at their request, been given an option over the balance of the uniss led capital, 64,838 shares. The profit aid loss account for the 10 months ended July 31 shows that a debit of £6,841 comprises balance from island working and trading accounts, £1,739; selling organisation expenses, £1,778; launch upkeep, wireless services and travelling expenses, £1,072; general expenses, £1 704; and reserve for bad debts and depreciation, £487. Of the capital of 250 000 shares:. 145,161? shares have been subscribed, paid-up capital amounting to £135,312. Land, buildings and plant are yalued at -