FIRST AND FINAL.

Auckland Star, Volume LXVII, Issue 252, 23 October 1936, Page 4

FIRST AND FINAL.

9%D IN THE POUND. STANDARD TOBACCO COMPANY. Shareholders in the Standard Tobacco Company, Limited, in liquidation, have received notice that a first and final payment of 9%d in tlie pound is to be made | on ail fully paid shares. The company was formed in July, 1929, with capital of £55,000, of which £41,337 was called up. Its principal objects werp the growing and . manufacture of tobacco. At the time it went into liquidation 111 October, 1934, its property included a tobacco farm at Kumeu and it had contracted with Loyals, Limited, to manufacture their tobacco leaf into tobacco at 2/1 per lb. The liquidator, Mr. John Carlaw, I received a claim from Loyals, Ltd., lor £3102, but succeeded in getting it reduced to £2190. The statement of accounts issued by the liquidator shows receipts from all sources at £4554. From this a deduction had to be made to creditors (including Loyals, Ltd., £2190) of £2457. After various expenses have been accounted for the amount available for shareholders is £1404. The company held 2000 shares in Amalgamated Tobacco Company. The liquidator states that the best -offer he could get for thesfc was 2/ per share. However, tie learned that there was a proposed amalgamation between that company and Loyals, Ltd., ami after this event took place he succeeded in obtaining 3/6 Dei share.