LOAN AND MERCANTILE.
CAPITAL CHANGES OPERATIVE. PRESENT FINANCIAL POSITION. (Received 12 noon.) LONDON, December 16. Mr. Harold Brown, presiding at the annual meeting of New Zealand Loan and Mercantile Agency Company, Limited, stated that the scheme for the reorganisation of the company's capital was now operative. Assets exceeded liabilities by £3,600.000, total reserves were £88.5.000, exceeding depreciation by £159.000. £136.000 was available for dividends, which on preferences would absorb £50,000, allowing £31.250 for a 2% per cent dividend on ordinaries. Earnings were about 7 per cent on the revised ordinary capital. The report was I adopted.
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Auckland Star, Volume LXVIII, Issue 299, 17 December 1937, Page 4
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96LOAN AND MERCANTILE. Auckland Star, Volume LXVIII, Issue 299, 17 December 1937, Page 4
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