CONTROL OF FERRY CO.
Bid By Cargo Worker (N.Z. Press Association) AUCKLAND, Nov. 13. The first bidder on the Auckland Stock Exchange for the shares of. the Waiheke Shipping Company, Ltd., has been revealed as Mr H. G. B. Erickstad, a Waiheke cargo worker, who made an unsuccessful offer for the company in January last year. Mr Erickstad entered the lists again last Thursday after first North Shore Ferries, Ltd., and then the Ker-ridge-Odeon organisation had announced offers to shareholders. The next day 1822 ordinary shares of the company changed hands on the exchange at 10s, which was 2s 6d more than the price offered by the KerridgeOdeon organisation. Mr Erickstad said today that he held 10 per cent of the capital of the company. He said he was opposed to the proposal to operate hydrofoils to the island believing that ferries were the best solution, particularly for excursionists. He would therefore remain a buyer for the shares until the Kerridge-Odeon offer closed. On the Auckland Stock Exchange today 125 Waiheke preference shares were sold at 20s. There were no sales of the ordinary shares, which were quoted buyer Us 9d, no seller.
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Press, Volume CII, Issue 30288, 14 November 1963, Page 16
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193CONTROL OF FERRY CO. Press, Volume CII, Issue 30288, 14 November 1963, Page 16
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