INCREASE OF CAPITAL.

Dominion, Volume 5, Issue 1430, 3 May 1912, Page 5

INCREASE OF CAPITAL.

BY THE P. AND 0. COMPANY, ~~ % By Telegraph-Press As3ociation-Copyrieht. London, May 1. The P. and 0. Company is calling up unissued capita! to tlio amount of .£1,180,000 to improvo the mail, passenger, and cargo services. . THE AMALGAMATION. (Rec. May 2, 10.15 p.m.) London, May 2. The Peninsular and Oriental Company's dividend on the deferred stock is 7 per contum. The directors announce the issue of X 1,160,000 preferred, cumulative 5 per cent, stock to the present holders of preferred and deferred stocks, in'the proportion of their holdings, at 110s. Tho increased capital has no reference to any rumoured amalgamation, which is non-existent so far as the company is aware, and no suggestion of amalgamation has ever been mado to tho directors, who are working in perfect harmony with their- competitors throughout tho Far East.

At tho annual meeting of shareholders of the P. mul O. Company held oil .■December 1", 1889, one-fifth of (ho paid-lip capital, £2,000,000 (,£530,000) was returned to tho shareholders, and tho remainder was divided into ..£1,100,030 preferred stock, bearing interest at 5 per cent., and .£1,!()0,000 deferred stock, entitled to the balance <ithe profits. There is also .£1,809,000 of 3J per cent, debenture slock. During tho week the- deferred stock was quoted at .£415.