BOND ISSUING COMPANIES

Press, Volume LXXI, Issue 21512, 29 June 1935, Page 13

BOND ISSUING COMPANIES

WORK OF COMMISSION (rasas association telegram.) AUCKLAND. June 28. The Bondholders' Incorporation Commission. which was set up during last session of Parliament, has now completed a great deal of the necessary preliminary work, and is beginning to take up the actual problems with which it was designed to deal. The commission was formed for the purpose of helping bond-issuing companies, and particularly bondholders, Cut of legal difficulties that stood in the way of realisation of their projects. The members of the commission, Messrs J. S. Barton (chairman), N. Duthie. and J. H. Henry, have been sitting in Auckland this week, and so far have been acting largely as conciliation and advisory commissioners in preliminary discussions and conferences With directors of companies, and representatives of bondholders. There are now three or four companies almost ready to make their applications for incorporation of (heir bondholders. Mr Barton left for Sydney by the Monowai to-night and one of his chief, duties while in Australia will be to investigate the possibilities of reciprocal legislation. Difficulties that have been found in New Zealand are being met in New South Wales. At least one of the Australian governments has indicated a desire to discuss the possibility of reciprocal legislation. Mr Barton expects to be away for some weeks, and to visit more than one of the Australian state capitals.

By studying pcllen buried in peat bogs. University of Chicago scientists •re reconstructing the botanical history of northern Illinois. Pollen from many plants, it has been found, is preserved in fossil form in peat bogs. Borinß to a depth of 35 feet into the bogs, the scientists have taken samples of th peat at intervals of one foot as the.y descended. These treated with nitric ?cid and whirled at high speeds. The light residue is studied microscopically to identify the pollen and determine the amount of each kind. Through such data, the botanists are studying the plant life as far back as 60,000 'years ago, for it has been shown that the pollen content of a bog fairly represents the vegetation for several miles around it.