“South still finances North Island”
The response to the issue of $475,000 debenture stock by an Auckland-based firm has again proved the truth behind the cliche that the South Island finances the North Island, according to the manager of Allied Finance and Investments, Ltd (Mr G. Patrick).
Although the issue opened only last December, the response from South Island investors has been remarkable, he said.
There was little doubt that the issue would be filled, Mr Patrick added. The issue set a new record in interest rates available on first mortgage debenture—up to 8} per cent. Allied Finance and Investments, Ltd—a public comstock exchange—was form-
erly known as Premier Group, Ltd, and under that name, along with two subsidiary companies, it engaged for many years in various forms of financing. The Griffiths group, to which Allied Finance and Investments belongs, is a major ; motor-vehicle, finance investIments, real estate and propI erty development organisation, based in Auckland. pany but unlisted on the
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Bibliographic details
Press, Volume CXI, Issue 32540, 25 February 1971, Page 17
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161“South still finances North Island” Press, Volume CXI, Issue 32540, 25 February 1971, Page 17
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