The N.Z.L. & M. Company
TIIHEATS FROM DEBENTURE HOLDERS. (l-EU PUfcbS ASSOCIATION). London, August 5. At a meeting of the New Zealand Loan and Mercantile Agency Company, Sir James Fergusson said that the directors ware not to blame for the position the company- was now in. The advances made by tho colonial boards upon land 'have been excossivo, but the business was the finest in the colonies. The scheino of reconstruction was almost complete. Sir Jnmoa Yule said it was a monstrous proceeding to mortgage the whole of the ussets Mr Stewart, the oflicial receiver, states that after writing oil' the sum of L' 200,000 for depreciation in value, the assets of the New Zealand Loan and Mercantile Agency Company exactly equal the liabilities. Several holders of terminable debentures maintained that they should be secured on the uncalled capital of the Company. They tjuoted the Company's prospectus in support of their contention, and threatened to light the matter out iv the law Courts.
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Bibliographic details
Feilding Star, Volume XV, Issue 32, 7 August 1893, Page 2
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162The N.Z.L. & M. Company Feilding Star, Volume XV, Issue 32, 7 August 1893, Page 2
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