NEWTON KING, LTD.

Taranaki Daily News, 28 October 1920, Page 3

NEWTON KING, LTD.

PROGRESS OP THE COMPANY. The statutory meeting of Xewtmi King, Ltd., was held in the company's premises, at the corner of Currie and Uill Streets, New Plymouth, last night, when formal husiness was transacted. Tlie chairman of directors (Mr. Newton King) occupied the chair. The J statutory report stated: The total _ dumber of Shares allotted is 3C3,3!)0, of which are allotted as fully paid up as part of the consideration for the transfer by Mr. Newton King to the company of the property disclosed in the agreement of July 31. 1820, and upon each of the remaining shares the sum of 2s fid has been paid in cash. The total amount of cash received by the company in respect of the shares issued wholly for cash ; s £115,1)03 17a Gd. The statementt of payments was a-, follows: Filing and registration fees and ad valorem stamp duty on transfer of properties, £llO3 10s; property in Cull Street, purchased bv the company since incorporation, £I7OO. In moving the adoption of the report the chairman said that the whole of the ordinary shares were largely over-sub- , scribed, and a great many had to be cut out, especially outside preference. Th?r.= were a few thousand preference shares etill to he allotted. The shares taken up by the staff totalled 29,000. He thought a very satisfactory flotation had bun recorded. The report was adopted without disci) as ion. Mr. Hugh Baily was appointed andi'or Before the conclusion of the meeting, the chairman remarked that the affitir* (f the company were progressing remarkably well,'and it was'anticipated (hat a very satisfactory position would be disclosed at the first annual meeting.