WRIGHT, STEPHENSOH, LTD.
An -explanation of adjustments in the rate of interest payable on itfe debenture stock has been forwarded to the Auckland Stock Exchange by Wright, Stcphenson, and Co, Ltd., who state there appears to be some misapprehension in the minds of investors. The company states that according to the National Expenditure Adjustment Act the net rate of interest cannot be reduced below 5 per cenk., except in the ease of company debentuares issued free of income tax, where the interest may be reduced to 4% per cent. "The rates of interest payable on the company's issues of debenture stock are now as follows:— 7 per cent, is' reduced by. 20 peC cenfT to 5 3-5 per; cent;; 6 per cent, is reduced to 5 per cent:; and 5 per cent. is. reduced to 4% per cent. The last-named is*the only tax-free stock.
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Bibliographic details
Evening Post, Volume CXVI, Issue 31, 5 August 1933, Page 14
Word Count
144WRIGHT, STEPHENSOH, LTD. Evening Post, Volume CXVI, Issue 31, 5 August 1933, Page 14
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