FINANCE CORPORATION OF N.Z.

Wanganui Chronicle, Volume 89, Issue 270, 15 November 1945, Page 8

FINANCE CORPORATION OF N.Z.

A statement that a dividend of about 20 per cent, would be paid to ordinary shareholders of the Finance Corporation of New Zealand, Ltd., as a result of the liquidation of its assets has been made by the liquidator. Mr. M. M. Shaw. All paid-up capital would also be returned. The surplus from realisations was £12,871. Preference dividends and taxation had absorbed £6547, leaving £6324 available for distribution to ordinary shareholders. A statement of account’s will be presented by Mr. Shaw to the final meeting of the company on No vember 22. The Finance Cor,,oration of New Zealand. Lid., was formed in 1927 ami went into voluntary liquidation on April 4. 1935. One of the assets of lhe company, lhe Strathmore estati of 10,000 acres at Reporoa, was sold to the Government for soldiers' settlement. In 1941 it was reported that preference shareholders had received their capital -and dividends, and ordinary shareholders had received a dividend of 33 1-3 per cent, of paid-up capital A fur,her 2s a share was paid the following financial year.

asking that they should be regarded as nart. and parcel of lhe same offence, said His Honour. Briggs was fo understand that should he persist in defying the law and -show that fines would not slop him, his physical condition would not prevent the Court doing its duty and imposing a prison sentence.