TRADERS’ FINANCE CORPORATION
Daily Times Special Service AUCKLAND, Dec. 5. Unable to handle the volume of loan business offering in the past year, the Traders’ Finance Corporation, Ltd., proposes in the coming year to increase the capital of the company in order to maintain its turnover. Speaking at the annual meeting, the chairman, Mr S.iJ. Harbutt, said that owing to the restriction of trading bank adyances to business such as theirs through Reserve Bank control, the company had been unable to make any further advances during the past few days but the position should return to normal in about a week. In order to provide the finance necessary to maintain the company’s business, the directors had decided to submit proposals to increase the company’s capital and application had been made for permission. The issue would be 70,000 shares of 17s 6d to be offered on the basis of one for two held. The amount to. be called up would be decided later.
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Otago Daily Times, Issue 26637, 6 December 1947, Page 3
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162TRADERS’ FINANCE CORPORATION Otago Daily Times, Issue 26637, 6 December 1947, Page 3
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