COMMERCIAL
SMITH’S WEEKLY The chairman of Smith’s Newspapers Limited, Mr. W. Bruce Rainsf'ord, told shareholders that the return for their shares would probably be not 'ess than 2s and not more than 10s in the £l. The annual meeting was adjourned because there was not a quorum, and Mr. Rainsford was speaking at an informal meeting which was he'o subsequently. Mr. RainU'ord said that he behoved Unit National Press Proprietary, Limited, which was operating Smiths’ Weekly on n rental basis, with the option <u' purchase at the end of three year.-;, was making a profit. He explained that if -the Victorian building of the company could be sold for £75.000, and if National Press Proprietary, Limited, decided to purchase Smith’s Weekly at the end of the three years, the return to sharcnoldnrr, would be about 10s. Heavy liabilities which the company had had to meet, Mr. Rainsford continued included payments to two men. who had won "£f> a week for life" competition.-.. “Bath these men were young am! healthy and our estimated liability in this respect was
£8000," i c aid. "We made a ‘-ottlement whereby £2700 in ca>ii was paid to them.
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https://paperspast.natlib.govt.nz/newspapers/GISH19400105.2.91
Bibliographic details
Gisborne Herald, Volume LXVII, Issue 20137, 5 January 1940, Page 8
Word Count
193COMMERCIAL Gisborne Herald, Volume LXVII, Issue 20137, 5 January 1940, Page 8
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