LOAN AND MERCANTILE AGENCY COMPANY.
(Teb Press Association.} MELBOURNE, June 7. Mr Elder explains that the New Zealand Loan and Mercantile Agency Company's business in the colonies is carried on by means of trust accounts specially provided for in the memoranda of association. With regard to the two-and-a-half million debentures and shares cancelled, he says that a million of this will ultimately accrue to the benefit of those interested by means of certificates for a million held by the trustees against the new preference share?, should a recovery in the present realisable value of pastoral securities take place, and interest will he paid thereon in the meantime if earned by the company. Mr- Elder, Melbourne manager of the New Zealand Loan and Mercantile Agency Company, states that the negotiation? taking place in Great Britain do not affecrthe company’s business in the colonies.
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Bibliographic details
Lyttelton Times, Volume XCVII, Issue 11289, 8 June 1897, Page 5
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142LOAN AND MERCANTILE AGENCY COMPANY. Lyttelton Times, Volume XCVII, Issue 11289, 8 June 1897, Page 5
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