BANK OF NEW ZEALAND.
EXTRA CAPITAL ISSUE. ONE AND A QUARTER MILLION. WELLINGTON, This Day. The Bank of New Zealand chairman to-day announced a resolution of the board to issue £1,125,000 new capital, of which £375,000 will be preference, offered to the Crown under the Bank of New Zealand Act, 1920, and the issue of the remainder, £750,000, to ordinary shareholders in the proportion of one to three shares now held. The offer will be open as soon as made and will be niade as soon as practicable after July 27 next. The shares will be I issued at par. The dividend on the new Government preference shares will be fixed at ten per cent, and cumulative. An amendment to the law necessary toggivev r e effect to this will have to be made. The report and balance-sheet were adopted unanimously. Mr Mill (Port Chalmers) moved and Mr Shailer Weston (Wellington) seconded, as representing the South I? land and North Island resDoetivelj r , congratulations to Sir George Elliot and .Sir Harold Beauchanvp on the knighthoods conferred on them. The directors and staff were thanked for their services. Sir George Elliot and Mr Bueklcton replied respectively to the motions. — Press Assn.
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https://paperspast.natlib.govt.nz/newspapers/NA19230618.2.6
Bibliographic details
Northern Advocate, 18 June 1923, Page 2
Word Count
200BANK OF NEW ZEALAND. Northern Advocate, 18 June 1923, Page 2
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