WAIPA COLLIERIES
Mr. H. D. Viekery, liquidator in Waipa Railway and Collieries, Ltd., reports to shareholders that since the company went into liquidation active steps had been taken to realise on the mine plant, machinery, and other assets of the company, lair progress had been made—the boilers, mine fans, portion of the mine rails, mine tubs, and some of the machinery and buildings had been sold—but, in view of the limited demand for machinery of this class, and ir face of the existing financial conditions, it would probably be a considerable time before final realisation could be effected. He hoped, however, to be able to make a first cash distribution to shareholders of 7s 6d per share within three months from date. The report refers to the sale of the company's railway and rolling stock to Wilton Collieries, consideration in part to be satisfied by allotment to Waipa Railway and Collieries of ten thousand £1 fully paid-up shares in Wilton Collieries. Some of these shares have been sold, but there are still available for sale 7500 shares in. Wilton Collieries, which'were now offered to Waipa shareholders at the price of 15s for each Wilton share of £1 fully paid. Waipa shares were issued at 15s each.
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Bibliographic details
Evening Post, Volume CXI, Issue 71, 25 March 1931, Page 12
Word Count
206WAIPA COLLIERIES Evening Post, Volume CXI, Issue 71, 25 March 1931, Page 12
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