Loan and Mercantile Company. THE COMPANY TO BE RECONSTRUCTED.

Feilding Star, Volume XV, Issue 208, 6 January 1894, Page 2

Loan and Mercantile Company. THE COMPANY TO BE RECONSTRUCTED.

(PEB PBESS ASSOCIATION. ) London, January 4. The reconstruction scheme of the New Zealand Loan and Mercantile Agency Company calls up £0 10s per share, payable in a fortnight, but .allowing holders of ordinary shares 18 months, and preference shares two years for payment, with per cent, interest added. Auckland, January 5A private cable from London, received in Auckland to-day from a reliable source, says : " The reconstruction of the Loan and Mercantile Company of New Zealand is now certain, will be arranged immediately. A call of £5 10s per share will be made, to spread over ten years."

The reconstruction scheme of the New Zealand Loan and Mercantile is, we are told, "at last within measurable distance of issue." It has been in this condition off aud on for weeks and weeks past, and I should uot pay much attention to the present assurances if it were uot that I perceive they satisfy Baron Schroder. Anyhow when his action was called on last Tuesday, before Justice Williams, his counsel concurred in an adjournment, which he certainly wouldn't have done were a long delay anticipated. Doubtless before this conies to hand you will have had the full scheme. The company's debentures rose from 84 to 88, and from 81 to 84 yesterday. — Times correspondent.