MINING NEWS.
The Australian system of printing the transfer on the back of scrip has been adopted by ths Ross Goldfields, Ltd. An announcement to this effect was made at the first call on the Auckland Stock Exchange one day this week, and the chairman (Mr. F. Hull), in sp-saking to art Auckland Herald representative subsequently, expressed the hope that the system would be .adopted by other mining companies in New Zealand. He pointed out that it did not mean any loss to the Government, as the btamp duty was now paid on the contract note which had to be issued with each transaction, "and as for the secretaries it would save them a lot of tiouble. Ths scrip could be issued in 200 shares, or, in fact, in whatever parcel the shareholder asked for, and the shareholder, if ho sold, would simply hand over the scrip for that amount. There could thus be no delay in waiting for transfers, as the seller must have the scrip before he offered the shares, and thin I, would do away to a great extent with tho possibilitj' of overselling shares, as everyone was entitled to get tho scrip when they purcharcd."
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https://paperspast.natlib.govt.nz/newspapers/EP19110218.2.13
Bibliographic details
Evening Post, Volume LXXXI, Issue 41, 18 February 1911, Page 3
Word Count
199MINING NEWS. Evening Post, Volume LXXXI, Issue 41, 18 February 1911, Page 3
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