CAPITAL WRITTEN DOWN.
A COMPANY’S DECISION. PRUNING THE DEAD WOODTO SECURE NORMAL DIVIDENDS. •By Telecran*! — P’-ms asrp. r.cnyrtarHt.>;j fAustralian Press A°socifltlon). ; (Received July 1, 9.30 a-m.) SYDNEY, July 1. The Australian Paper Manufacturer! Limited have decided to reduce capital by £320,000 to £1,280,000 in order to extinguish intangible assets and wipe off the losses resulting from the Lane Cove Mills fire last October. Preference capital in the constituent companies is unaffected, but It is anticipated that the pruning of the dead wood will enable the earlier payment of normal dividends.
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Bibliographic details
Waikato Times, Volume 105, Issue 17751, 1 July 1929, Page 7
Word Count
90CAPITAL WRITTEN DOWN. Waikato Times, Volume 105, Issue 17751, 1 July 1929, Page 7
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