EXCEPTIONAL SECURITY AND 7½ PER CENT. TAX-FREE INTEREST.

Evening Post, Volume CI, Issue 151, 27 June 1921, Page 3

EXCEPTIONAL SECURITY AND 7½ PER CENT. TAX-FREE INTEREST.

On another page will be found the prospectus of an i^ue of £250,000 in 7_ per cent, debentures, free of income tax, by Macky, Logan," Caldwell, Ltd., the well-known firm .of Woollen Manufacturers and Drapery Warehousemen. The1 debentures are being issued in sums of £50, aaid are repayable in full in five years. Interest will be paid half-yearly in exchange for coupons attached to the debentures. The issue is secured, as shown by the prospectus, by the surplus assets of the company, which exceed the amount of, the issue more than three times over, so that the investor is amply protected. \ A feature of the issue is that the interest . coupons may be cashed at any branch of the Bank of New Zealand, or at any of the Company's offices, free of exchange. . To the investor with a small income the issue offers a strong attraction, as the actual return, free of income tax, is equivalent to £8 12s 6d per cent, i The abnormal financial stringency, at the present time compels such high rates of interest being paid, and the investor with capital at his disposal is fortunate ■in being!^able; to; take advantage of-the opportunities'which are now being presented. „'*:.■ The business of Macky, Logan, Caldwell, Ltd., was established in 1881. Today the capital of the company is over half a million, and it has branch warehouses in'every important centre of the Dominion. In addition, the company operates big woollen mills at Oamaru and Timaru, .also a hosiery factory at j Palmerston North. During the past nine years the turnover of the business has increased'36o per cent. Large sums have regularly, been placed to'reserve, and profitsf have been capitalised from time to time. The ability of ttie company to produce its own materials places it in the strongest possible .position for meeting competition, and it is safe to assume that under the capable management which has been responsible for its phenomenal growth in the' past, the company is destined to play an even greater part as the prosperity of', the Dominion . expands. Applications for the Debentures will be free of exchange, and are being received at all branches of the Bank of New Zealand, or by any member of the Auckland or Wellington Stock Exchanges, or they may be sent direct to the company's head office in Auckland or any of its 'branches. It Is announced that already more than £30,000 of the issue has been subscribed. The company will pay exchange also on interest and repayment, of principal.— Published by arrangement.

It is estimated that Germany has to-day a total of about 665,000 tons ,of shrppmg, consisting of 500,000 tons left to her after the Peace Treatv, and about 165,000 tons which she has built since the Armistice. Before the, war, the tonnage of German shipping was 5,240,000 tops. ..__/ : _____