INCREASED CAPITAL ISSUE AT PAR.

Star (Christchurch), Issue 17880, 23 June 1926, Page 8

INCREASED CAPITAL ISSUE AT PAR.

MERCANTILE FINANCE CORPORATION, LTD. Following the most satisfactory progress of the first year's operations, the Directors of' the Mercantile Finance Corporation, Ltd., have agreed to a further issue of 70,000 Ordinary One Pound Shares at Par. and 10,000 7 per cent Cumulative Preference Shares. The Ordinary Shares are payable 2s fid with application, 2s fid on allotment, and balance in calls of not more than 2s fid at intervals of not less than three months. It is not at present expected that these shares will lie called to more than 7s fid. The 7 per cent Cumulative Preference Shares are payable 2s 6d with application and 17s fid on allotment.

This Company is now firmly established in Canterbury, and, though only completing its first financial year on June 30th, it has met the demands of its Preference Shares, paid an interim dividend at the rate of 7 per cent on its ordinary capital, and a further dividend equal to 7 per cent per annum is assured as a final dividend for the year. The progress of the Company has exceeded all expectations, and the increase of Issued Capita! is warranted by the extensive nature of the new business now being negotiated. Over 20,000 shares of the new issue have already been applied for. Application* should be made to Stewart, I Beckett and Co., Organising Brokers, 152, Hereford Street, Christchurch, or to an}' Member of the Christchurch Stock Exchange. 1