SMITH’S WEEKLY
PLANT IS ONLY ASSET LEFT Shareholders of Smith’s Newspapers Limited, Sydney, at a meeting held on June 23, decided that the publications of the company, Smith’s Weekly and The Referee should be sold as going concerns. The decision is subject to ratification by a general meeting of the shareholders to be held within 21 days. A committe appointed by the shareholders in May to make an investigation of the company’s affairs reported that the plant was the only asset left to the preference shareholders. The directors had suggested that the plant should be sold and the proceeds used to meet the cost of publishing Smith’s weekly as a magazine. The committee considered a magazine could not be made to pay in less than three years, and. that a plan such as that proposed would mean the loss of the only asset available. It therefore advised shareholders not to accept the board’s proposals.
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https://paperspast.natlib.govt.nz/newspapers/GISH19390715.2.133.4
Bibliographic details
Gisborne Herald, Volume LXVI, Issue 19990, 15 July 1939, Page 10
Word Count
154SMITH’S WEEKLY Gisborne Herald, Volume LXVI, Issue 19990, 15 July 1939, Page 10
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