FAITH IN BRICK MERGER

Sun (Auckland), Volume II, Issue 619, 22 March 1929, Page 11

FAITH IN BRICK MERGER

RUSH FOR DEBENTURES ISSUE OVER-SUBSCRIBED Placed on the n*r«rket little over a week ago, the issue of £150,000 first mortgage debentures by the Amalgamated Brick and Pipe Company has been over-sub-scribed by well over £40,000. Brokers are still receiving applications from all parts of the Dominion. The issue is made to appear by the prospectus as one of the most attractive offered to the New Zealand public for.some time. The security offered is the recently amalgamated brick interests in Auckland, having works in New Lynn, Hobsonville, ancl Avondale.

Allied with the issue of debentures is an issue of £50,000 shares of £1 each, for which many applications have been received. The directors anticipate being able to close the list within a week. Inquiries for the debentures came from all parts of the Dominion, including large parcels from Wellington and Christchurch, and a substantial investment was received by cablegram f T I ' om ° f the largest financial houses m Melbourne. Nevertheless. the greater part of the issue has been taken up by small investors, in accord, ance wH,' the desire of the directors to obtain widely represented support w,s ~r stances would he seriously entertained undertaken 1 British® n ‘„Tw mon Investment Trust, Ltd. ® D mi "