DEBENTURE INTEREST
CANTERBURY FARMERS CO-OP. PROPOSES TWO PER CENT. REDUCTION CIRCULAR TO STOCK HOLDERS CHRISTCHURCH, Tuesday. A reduction of interest from 61 per cent. to 4J per cent. on dehenture stock amounting to neaidy £900,000 is proposed by the directors of the New Zealand Farmers' Co-operative Association of Canterbury in a circular to 3000 dehenture holders interested in the stock. It is suggested that the dehenture holders should be content to accept interest at this reduced rate until such time as returns from the business permit payments of dividends to shareholders. The annual saving to the company will be about £18,000 if the plan is adopted. The loss made by the company in the year ended September 31, 1931, was £99,223. The eircular letter was aceompanied hy interest [payments due at the rate of 61 per cent.
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Bibliographic details
Rotorua Morning Post, Volume 1, Issue 138, 3 February 1932, Page 3
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137DEBENTURE INTEREST Rotorua Morning Post, Volume 1, Issue 138, 3 February 1932, Page 3
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