RACING CLUB LOAN
SUCCESSFUL OVER-SUBSCRIP-TION.
Providing the terms are sufficiently attractive, thefe does not seem to be much difficulty in raising locally considerable sums of money, and that quickly. The Wellington Racing Club’s issue of mortgage debenture utock is a striking case in point. The amount required was £50,000; the rate of interest 8 per cent.; the currency of the loan to January 31st, 1935; the eecurity of a first mortgage upon the freehold lands (over 341 acres) and buildings thereon at Trentham, and a floating security upon other existing assets of the club. The moneys to be received from the loan are to be expended upon additions to buildingn And improvements. It i 9 proposed to spend £50,000 upon_ new buildings and equipment. The loan was issued on Thursday last, and nearly £40,000 had been received by way of subscription on Friday. When the list closed the subscriptions amounted to considerably more than the amount required.
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https://paperspast.natlib.govt.nz/newspapers/NZTIM19220315.2.128
Bibliographic details
New Zealand Times, Volume XLIX, Issue 11159, 15 March 1922, Page 8
Word Count
157RACING CLUB LOAN New Zealand Times, Volume XLIX, Issue 11159, 15 March 1922, Page 8
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