AUSTRALIAN SHARES
LIMITATION OF PRIVILEGES In a letter received by the Auckland Stock Exchange this morning, the Reserve Bank stated that several cases had come to its notice in which purchasers of contributing shares in Broken Hill Proprietary were applying for jiermission to remit moneys from New Zealand or to draw on balances in Australia to pay the remaining calls. The privileges granted to holders of shares in this and other companies (Electrolytic Zinc, and Felt and Textiles) wishing to take up rights in recent issues did not extend to subsequent purchasers of partly paid-up shares. The only way by which such purchasers might pay the calls due was to sell in Australia some of their Australian securities and apply the proceeds to the payment due. The chairman, Mr. J. W. Frater, remarked that it was distinctly understood at the time that the privileges applied only to holders of fully-paid snares.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/AS19411201.2.14.3
Bibliographic details
Auckland Star, Volume LXXII, Issue 284, 1 December 1941, Page 3
Word Count
151AUSTRALIAN SHARES Auckland Star, Volume LXXII, Issue 284, 1 December 1941, Page 3
Using This Item
Stuff Ltd is the copyright owner for the Auckland Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries.
Log in