NERSAG LIMITED.
A LONDON SENSATION. CHAIRMAN MISSING. BIG DROP IN SHARES. (By Telegraph—Press Assn. —copyright.) (Australian Press Association. ! LONDON, Jan .16. • A sensation was caused on the London Stock Exchange by the directors of Nersag, Limited, announcing publicly that the whereabouts of Mr Brandreth late chairman, and his wife, who was a director, could not be traced. They had not fulfilled - promises they had made to supply information to a meeting on January 11. The new chairman, Sir John H. Biles, ship designer, announced that it must be concluded that Mr and Mrs Brandreth’s accounts were not reliable. Therefore, it was not proposed to pay a final dividend or to distribute a bonus on the shares. Mr Brandreth has had a remarkable career. He began by making supports for mattresses on a very small scale. He had a tiny home at Ilford. His business, his staff and his premises grew into a company with a capital of £IOO,OOO, which was formed in 1927. The £1 shares once reached £6. Last year the Nersag Overseas Company was formed with a capital of £250,000 in £1 shares. These reached 30s 9d.
Consequent upon to-day’s announcement the shares in the parent company dropped from 40s 9d to 30s.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/WT19290118.2.49
Bibliographic details
Waikato Times, Volume 105, Issue 17613, 18 January 1929, Page 7
Word Count
205NERSAG LIMITED. Waikato Times, Volume 105, Issue 17613, 18 January 1929, Page 7
Using This Item
Stuff Ltd is the copyright owner for the Waikato Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in