CABLEGRAMS.

Auckland Star, Volume XXI, Issue 174, 25 July 1890, Page 4

CABLEGRAMS.

tPEESS ASSOCIATION.] [BY KLSCTHIO TEtRGHAPH—COPYRIGHT.] NEW ZEALAND ASSETS COMPANY. THE PROSPECT US ISSUED. Lontos, July 24. The prospectus of the New Zealand Estates Company was issued to-day. The capital is £2,000,000, consisting of 75,000 six per cent, cumulative preference share.", end 125,000 otdinsry shares, both being , £10 shares. Fifteen thousand preference shares are unissued at present. The balance of preference shares, and nil ordinary shares, with a million and a-half pounds' worth of debentures, will be allotted to the Bank of New Zealand for the globo assets, which were originally valued ab four and aauarter millions. Mr D: liean, in hia report, states that the properties will probably realise considerably beyond £3,108,000. The Assets Company will assume the possession of the properties on August sth. Later. The Bank of New Zealand has received full application for the shares and debentareeof the Assets Company. The subscription lists for Mean's and debentures in the Assets Company closs on Monday. The *' Times" says that shares valuations of the net inconte should remove doubts respecting , the revenue yielded by the globo assets. The "Financial News" says that the debentures are well secured. Messrs Thomas, Rowe and George have been appointed additional directors.