REID RUBBER RIGHTS

Evening Star, Issue 25926, 18 October 1946, Page 8

REID RUBBER RIGHTS

SELLING AT ABOUT 1/8 ISSUED AT PREMIUM OF 3/4 Rights to the new share'issue being made by Reid (N.Z.) Rubber'Mills Ltd. are now being quoted in the official list on the Dunedin dtpek Exchange at about Is Bd. The issue is 300 £1 snares at £1 3s 4d a share, on the basis V ,-one for • one. The terms are Is 8d a.sharein.cash on acceptance, 5s a share, which includes the premium of 3s 4<L a share, on allotment, and the balance in five calls each of 3s 4d a share. The first of the calls shall be payable at, a date not earlier than March 31, 1947, and each of the remaining calls at intervals of , not les* than two months from the due date of -■ the previous call. The offer will remain open until November 22. ; • The 100,000 shares for which the B. t . Goodrich Co. is subscribing under the Reid Rubber Company’s contract with it, and the 20,000 Shares to be taken up by E. \\. Pidgeon and Co. Ltd. form part of this general issue, additional to the 300,000 shares offered to sharehojders, and will be taken, by these companies at'the same, premuim of 3s 4d a share; The whole issue of 420,000 shares is being made from the 700,000 shares now unallotted, and. will eventually increase the paid capital of the company t0'£720.000. INTERNATIONAL BANK.

Four conntries —France, Czecho-Slovakia, Poland,, and Chile—have so far announced their intention to borrow from the International Bank for Reconstruction and , Development. Loans sought up to a week a CT o reached a total of 1,515 million do.lars (£473,000,000 in New Zealand ci> rency), including 40 million dollars (£12,500,000) for Chile. • The bank now has assets of nearly 400 million dollars (£125,000,000), and expects to call for the re- ; inamder of the,first 20 per cent, of its" subscriptions by May 26 next. The president of the bank (Mr Eugena Meyer), giving a progress report to the, first annual session of the bank’s board of governors' at Washington this month, said that , the work of the bank was “ well begun.” 1 He predicted progress in the year ahead towards fulfilment of the bank's mission, which was primarily' to extend help in reconstructing war-ravaged industries. . NOKOMAI’S LOSS. A loss for the year ended March 31' amounting to £230 is reported by .the Nokomai Gold Mining Company Ltd.,- bringing the deficit m the profit and loss appropriation account to £14,527. The' only income, received during the year was £2B from rents. , - . , • . “There has not yet been any revival of activity in gold mining-generally, nor any matters of importance t-o shareholders and debenture stockholders,” states the annual' report. “ The ' recent deduction in gold export duty will no doubt help to encourage the introduction of capital to the industry, particularly as the price of gold is . now higher than, ever before. Your directors confidently expect that some overtures will soon be regarding the Nokomai property.” MINING NEWS. Arahura and Kauievi.—For the nrjt half of October the -returns from these two dredges were -as follows: —Arahura, 249 hours, 144,000 yards,, 3370 z;■ Kanieri, 237 'hOurs, 104,000 yards, 3610 z. v<. . DIVIDEND ANNOUNCEMENTS. The directors of the Fanners’ Trading Company Ltd. recommended a half-year,y dividend* cn the A and B preference shares of 7 per cent., less a 20 per cent, deductiou under the Interest AdjustweiiD Act. and 5 per cent, on the ,C preterence shares, ‘ all per annum. ? t , .. Sharland and Co. Ltd. recommended th® payment of a final dividend of 2% rcr cAnt., plus a bonus of *3 percent., cur ?.H shares, free of national and social security lixes.— Press Association.