Page 4 Advertisements Column 1

Auckland Star, Volume LX, Issue 112, 14 May 1929, Page 4

SUCCESSFUL FINANCIAL CORPORATION.

Issue of 100,000 Preference Shares at 8 per cent. The class of business conducted by the Reliance Loan Mortgage and Discount Corporation, Limited, is amongst the safest and most profitable in the commercial world, and ranks with banking and insurance. Investors therefore will welcome the issue of 100,000 8 per cent cumulative preference shares by this corporation. Preference shares, showing eight per cent in similar concerns are quoted on the New Zealand Stock Exchange to-day at substantial premiums, £1 shares selling readily at twenty-six to twenty-seven shillings. The Reliance is the only corporation in the Dominion operating on every class of security. The enormously strong position of the corporation is indicated in the following extract from an independent auditors' report prepared by Messrs. Morris, Duncan and Gyllics, and Messrs. Gilfillan and Gentles, two of the leading Auckland firm* of public accountants: "The profit on its present capital after making all due allowances, is sufficient to pay an 8 per cent dividend on the proposed issue of 100,000 preference shares paid up to 10/ per share, without such new capital earning any interest." Early application should be made as it is anticipated that the shares will be quickly subscribed. Copies of the prospectus may be obtained from any' branch of , the National Bank of New Zealand, from the corporation's broker. Mr. Campbell Pateron. 23; Shorthmd Street, P.O. Box 1206, or from any registered fharebroker. (Ad.)