GAS DEBENTURES
AUCKLAND COMPANY'S LOAN £200,000 TO BE REPAID The Auckland Gas Company's 6 \ per cent debenture issue of £200,000, maturing on May 1, will be redeemed at that date. Speaking at the annual meetiflg of shareholders yesterday, Sir George Elliot, chairman of directors, said the board intended to pay off the loan at the due date, and none of the debentures would be reissued. The loan was issued in 1928, a sum of £150,000 being required to replace an issue of debentures then falling due and £50,000 being for development expenditure, The issue was over-sub-scribed by £129,500, or 65 per ce;it. After the repayment of the loan, the company's only debenture capital will be £BO,OOO in 6 per cent debentures maturing in 1942. The debentures have not been quoted on the Auckland Stock Exchange this year, the last sale being at £lO4 in September, 1934. 4
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New Zealand Herald, Volume LXXII, Issue 22026, 5 February 1935, Page 5
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147GAS DEBENTURES New Zealand Herald, Volume LXXII, Issue 22026, 5 February 1935, Page 5
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