FACTS FOF INVESTORS.

Auckland Star, Volume LIX, Issue 95, 23 April 1928, Page 4

FACTS FOF INVESTORS.

NATIONAL TOBACCO CO. PROPOSED INCREASE OF CAPITAL, j 'JERHARD HIJSHEER'S SHAKE. Attention ha« been drawi in those columns on spv'val occasions to the operations of the National 1 obacco Co., which haj» Its head o'.tii t* at Port Ahunri and v. hi( h h,i« shown remarkably suixrasi'ul in recent yearn. The chairman ot this polled has been Mr. Gerhard Husheer, recognise 1 ;i« an -exceedingly capable technical expert in the tobarco industry, .and who waa associated n« manager with a former tobacco company in the Hawkes Bay district which, after suttVi mg very heavy loe.-ies, was compelled to liquidate. The authorised capital ot the National Tobacco Co. is £30,000, of which £ 14,737 h.i* been paid up. It is now propos.nl, according to a circular which has been •rfiit, o-ul, over the signature of Mr. Husheer. to increase the capital of the company to £200,000, to capitalise part ot the undivided profits of the company, and give all shareholders a bonus share of £1 and pay up in full all shares that have been paid to the extent of 10/ uer share. Jt is further proposed thai Gerhard Husheer is to act as managing director and expert until November 1, 1938, and lor theeo and past services he is to be allotted 3.5,000 fully paid up sharj# to earn dividends from May 1, 1928. In addition, he is to receive a salaiv o: £'JW) per annum, a* well as a commission of £1 10/ per cent on the grow value of all goods sold by the company until 1938. In the event of Mr. Huskeer's death prior to 1938 the commission of 1 '■£ per cent is to be paid to a person n.inied in his will. He is also permitted to import in his own name, to safeguard the trade secrets, foreign leaf for blending purposes, and he is not bound to say irotn whom any imported material is obtained. Receipts for the payment of these materials to be sent only to the auditor, who is to be bound down rot to give any information unless authorised by Mr. Husheer. It may be pointed out that, provided the proposals outlined above are agreed to by shareholders, Mr. Husheer will have in the company the voting powers of .4.7,000 snares, in addition to any he may at present hold. No explanation is given of the "valuable consideration" n:entioned in the circular for which Mr. Husheer i« to receive 35,000 £1 shares. AUCKLAND OAS COMPANY. DEBENTURE ISSUE. LARGELY OVER-SUBSCRIBED. The debenture issue offered by the Auckland Gas Company for the development of its business has been cordially accepted by the investing public. Applications were invited for debentures amounting to £200,000. and for these subscriptions totalling £329,500 were received from investors in all parts of the Dominion. The amount allotted to "B" debenture holders was £182,330, and to ahareholdera £17,650. The general public applied for £81,500, but the directors were unable to allot any of these. The interest payable on the debentures, which have a currency of seven years, is H'/i per cent.