Issue Over-Subscribed

Press, Volume CI, Issue 29802, 19 April 1962, Page 17

Issue OverSubscribed

(N.Z. Press Association) AUCKLAND, April 18. The subscription list to the par issue of 165,000 5s shares by Rickstan Holdings, Ltd, Auckland, opened and closed immediately this morning. The issue was heavily oversubscribed. Applications with yesterday’s postmark will still be, accepted, directors announced.

No Bid For Beaths

“My board is concerned at rumours that have been circulating over the last few week to the effect that a take-over bid is in course of negotiation.” the chairman of Beath and Company. Ltd. (Mr T W. Perry) said in a letter received by the Christchurch Stock Exchange yesterday. “We wish to advise the Stock Exchange that there is no substance to thia rumour and no discussions have taken place in any shape or form.”

Reserve Ratios Again Rise

(N.Z. Press Association) WELLINGTON, April 18. Reserve ratios for balance held by trading banks with the Reserve Bank are increased by a Gazette notice tonight with effect April 19, 1902 Demand liabilities are increased from 24 per cent to 27 per cent Time liabilities are unchanged at 10 per cent. Griffins Staff Told.—The staff at Griffin and Sons, Ltdfactory at Nelson, have been advised that negotiations for a change in ownership of the firm have been opened. They have been assured, however, that no change in staff or management wu contemplated.—(PA.)