INVESTMENT CLUB CONVENTION

Press, Volume XCIX, Issue 29239, 24 June 1960, Page 19

INVESTMENT CLUB CONVENTION

N.Z. Delegate To World Organisation

(N.Z. Press Association—Copyright)

LONDON, June 22

A world federation of investment clubs will be formed at a convention in London on July 6 at which new associations sending delegates will include New Zealand, Canada, the Netherlands and Japan. Mr George Nicholson, chairman of the National Association of Investment Clubs of America, who is in London to inaugurate the new organisation, said there were now 25,000 clubs in the United States with a membership of 400.000 investing on an average 15 dollars monthly. One-third of them were all-women groups. “The chief value of the new world fede-ation lies in the tact it makes it possible for us to borrow ideas from one another,” said Mr Nicholson. “We realise clubs draw most of their members from professional and business classes and that the amount of money they invest is usually so small that brokers lose money on handling their accounts, but I think clubs justify themselves both by the fun—and pi flfit—they give their members an : as a training ground for people who will be larger scale investors in the future.”

Tooth Faces Problem Of Expansion Finance (N.Z. Press Association —Copyright) SYDNEY. June 23

Tooth and Company, Ltd, brewers, faced difficult questions of policy regarding finance for expansion. This was due to direct Government influence on the company’s sales by taxation in the form of excise.

The chairman (Mr R. J. Vicars) said this at the annual meeting yesterday. The growth of new suburbs, higher incomes and more holidays all called for more and bigger hotels.

These types of hotels were now becoming increasingly costly.

L. J. Hooker Notices.—L. J. Hooker Investments Corporation. Ltd., advises that there will be a short delay in forwarding notices in reference to the payment of the final call of 3s 9d per share on the contributing shares. In view of this, they have agreed that the due date of the call be extended to July 7, 1960. The shares will rank for dividend from July 1, 1960.—(PA.)