LATE LOCALS.

Hokitika Guardian, 16 May 1922, Page 3

LATE LOCALS.

North Island mails and passengers connected with the West Coast express nt Christchurch this morning.

The programme of a Cycling Sports meeting on Cass Square on Empire jjay appears in this issue. Entries close on Saturday, May 20th.

Tiie shareholders in the National Hank of New Zenlnnd have been informed by circular that the Board of Directors has resolved to offer to the shareholders this month 100,000 new shares of £7 10s each (£2 10s paid up) at a premium of £2 per share. This is consequent on the resolution carried unanimously at the annual meeting increasing the authorised capital of the bank from £3,000,000 to £4,500,000 hy the creation of 200,000 new shares of £7 10s each. It would appear that the bank is issuing only one-half of the newly created shares at the present time! The proportion of the new issue which shareholders are entitled to receive is one share for every four shares held at the present time. The payment of these, new shares may Tie made in instalments, on which interest at the rate of four per cent will be allowed till September 30th; but payments made in fill lon June Bth., which is the date of application, will carry dividend for the half-year ending, September 30th. The directors in this circular anticipate that the dividend and bonus to be declared for the year ended March 31st. Inst will be the same as that declared for the previous year, which 14 per cent. The present market price for National Bank of New Zealand shares is £6, and it will be seen from the foregoing that shareholders get the one share for the four now held at the price of £4 10s. That feverish feeling from cold in the head instantly relieved by “NAZOIy, ’’ Splendid for clearing blocked pßfMftßpn I?) jw*? pud jdirpfit..