NEW COMPANIES

Daily Telegraph (Napier), Volume 58, Issue 284, 4 January 1930, Page 11

NEW COMPANIES

I AECKLANI) REGISTRATJONS. CAl'JTAL EXCEEDS FIYE M I LLIONS. SOME BIG A^TALG A M ATIOXS. Tlie total capital of tlie new companios rcgistered in tlie Auckland district- during tlie vear 1929 was more than double that for the ]irevious 12 montlis, exeeedinp; £-5, 000,000 bv some thoiisands Tliis great increa.se is, bowever, more ajiparent than real, as tlicre bave been several amalganiations or mergers during tlie pa.st 12 montlis, aird tho new eompanies naturally included tlie capital of tlie ones absorbed, tliough in .some instances tbere is also provision for ecrtaiu new capital should it be nccdcd in tbe future. Tbis menns that tlie actual now capital to be ;novided under tlie registrations for 1929 is not' anything ro big as it appears at first Tlie anialgamations arranged tbis vear ineluded oue combining a number of brick and tilo works. Out of 311 new eompanies tliere are 1-1 with capital ranging from Ll 00,000 up to, in oue instaiico, F1 .000,000. Tlie coniini ny witli tlie largest registered capital was Now Zealand Newspaper.s, Ltd., of £1.000,000, and tbe smallesfc had a capital restricted to three sliares of £1 eacli. A markcd feature of the registratibns is tlie large number of private eompanies, tliere bcing 214, as againsb 70 public ones. Some of the private eompanies have a very modest jirovision as far as capital is eoneerned. One tor carrying out emhossiup; is only £3, another with £o capital is for selling liahcrdashery and lioots aiul shoes. Anothcr with a capital of £10 is for the purpose of lending inoney, and still another with a similar capital is for an indent agency. Tliere is also an investment compaiiy with £10 capital, and another with £100 capital, is tor carrying out loans and investments. Witli a capital of £100 anotlier com])any was registered for tlie purpo°e of company promoting. Out of thi total registrnions during tbe year 71 had a capital of £500 or under.