Registrar-Generals-Department-Annual-report-1968-1969 — Page 32

and under $50,000, $50,000 and under $100,000, and $100,000 and under $500,000—is the highest for the past five years; that the number in the category $500,000 and under $1m. is the highest for the past four years; and that the numbers in the three top categories-$1m. and under $5m., $5m. and under $10m., and $10m. and above are all higher than in the previous year. Many companies are incorporated with low capitals pending further developments; for instance, some solicitors and accountants like to keep a few incorporated companies 'in stock', the capitals of which are increased as soon as clients take over the com- panies and commence business. The aggregate total of all capitals was $625,420,648, $210,802,228 more than the previous year's total, mainly accounted for by increases of $41m. for importers and exporters, $36m. for textile manufacturers, $14m. for financiers and capitalists, $11m. for garment manufacturers and outfitters, $9m. each for provisions and rice merchants, and restaurants and night clubs, and $7m. for land investment.

72. Table XIV shows graphically the post-war trends of the numbers of companies incorporated and the totals of their nominal capitals, and the trends since 1959-60 of the numbers of land investment and import/export companies.

73. 385 companies were dissolved during the year as follows:

By Members' Voluntary Winding-up

By Creditors' Voluntary Winding-up Struck off the Register under Section 291

:.

...

132

7

246

385

Table XV gives an analysis according to the nature of business of the 385 companies dissolved or removed from the register during the year and also of the aggregate total of 1,199 for the five years ended 31st March 1969. The main casualties were as usual in import and export companies, which lost 98, while land investment companies lost 57, garment manufacturers 21, textile companies 18, shipping companies 17, financiers and restaurants both 16, and engineering etc. companies 14.

74. With 1,868 new companies, and 385 dissolutions, there was a net increase of 1,483 in the number of companies on the register, which on 31st March 1969 stood at 13,372, comprising 934 public companies (mostly companies limited by guarantee), and 12,438 private companies.

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