West Coast Dredging.
♦ ■ Recently the Red Jacks Gold Dredging Company decided to increase its capital by the issue of 1800 preference shares. This has been effected on terms favourable to the oxiginal holders, who, however, have in;most cases taken up their quota of the new shares. At the tinie the new shares were offered the company owed £1400. Since then, the pr-oiil on the working of the dredge has amounted to nearly £500. The directors therefore -issued only 1500 of the new shares, the minimum .number which, by the conditions of issue/ must be applied for before any at all could be allotted. In consequence -the company is now in a 'very strong position, having at least £600 available above its liabilities.
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Bibliographic details
Taranaki Herald, Volume L, Issue 11977, 27 May 1902, Page 1
Word Count
122West Coast Dredging. Taranaki Herald, Volume L, Issue 11977, 27 May 1902, Page 1
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