N.Z. INVESTMENT TRUST.

Auckland Star, Volume LXX, Issue 247, 19 October 1939, Page 4

N.Z. INVESTMENT TRUST.

REORGANISATION SCHEME. (By Telegraph—-Special to " Star.") DUNEDIN, Wednesday. An informal meeting of the Dunedin debenture holders in the New Zealand Investment Trust, Limited, was held last night for the purpose of obtaining an opinion concerning the proposed scheme for the reorganisation of the company. Mr. J. S. Barton, chairman of directors, outlined the proposals as circulated to debenture holders. These provided that each holder of, for instance, £ 100 worth i of the New Zealand Investment Trust's! 5 per cent debentures would receive 5 per j cent debentures issued by Financial Ser- J vices, Limited, to the value of £50 and £30 in ordinary shares in Financial Ser- j vices, Limited, and £20 in deferred shares in the same company, Financial Services, I Limited, to take over all the existing j assets of the New Zealand Investment | Trust, Limited. I The meeting unanimously supported the scheme, which will be finally placed before j an official meeting of debenture holders in Wellington on November 7. A.C.I. DIVIDEND. SLIGHTLY HIGHER RATE. The directors of Australian Consolidated Industries, Ltd., have declared an interim dividend of 3V4 per cent, according to; cabled advice received this morning by tille | New Zealand Stock Exchange Association. Last year's distribution, allowing for the expansion in capital, was 6.86 per cent, bo that this year's interim rate of 7 per cent per annum shows a slight increase.