BROKERAGE RATES

Timaru Herald, Volume CXXXVII, Issue 19667, 8 December 1933, Page 16

BROKERAGE RATES

ALTERATIONS NOTIFIED The official recoro of the Stock Exchanges of New Zealand notifies alterations in the rates of brokerage. There are some variations .n the rates of listed stocks, and a reduction in unlisted stocks. The latter formerly were double the ordinary rates of listed stocks, and the new rate is one and a half times. The complete rates are:— On Government and local body stocks and debentures. 5 per cent, on face value. On all other debentures, 1 per cent, on face value. On New’ Zealand Government Post Office certificates, 1 per cent, on consideration money. On company bonds (not secured debentures), U per cent, on face value. On consideration money of shares up to 6d. id; over 6d up to 2 id; over 2/- up to 4/-, Id; over 4 - up to 6 8, lid; over 6 8 up to 13 4. 2d; over 13 4 li per cent. On "rights” in new issues seller pays the ordinary rates of brokerage on price of rights; the buyer pays the ordinary rates of brokerage on price of rights, plus the full amount of calls notified by the company at the time of the issue of the rights. Brokerage on new shares after any call paid to be the same as for rights. Unlisted Stock. On consideration money of shares up to 6d. id; over 6d and up to 2-, id; over 2- up to 4'-. 15d; over 4-up to 6 8. 2d; over 6 8 up to 13 4. 2id; over 13 4. 15 per cent. Half the rate of commission on New Zealand Government or local body loans or company debentures on all transactions where the date of maturity is within 12 months from the date of sale. A special charge in excess of the above rates may be made according to the circumstances of the case for the negotiation of new flotations and of issues of new or reserve shares (in which case the vendor or issuing company alone is to be charged) or of shares or securities not on the official list. Dealings in shares are “ex div.” on the day the dividend is payable at the company’s head office.