SUCCESSFUL FINANCIAL CORPORATION

Sun (Auckland), Volume III, Issue 662, 14 May 1929, Page 10

SUCCESSFUL FINANCIAL CORPORATION

ISSUE OF 100.000 PREFERENCE SHARES AT 8 PER CENT. The class of business conducted by the Reliance Loan, Mortgage, and Discount Corporation, Limited, is among the safest and most profitable in the commercial world, and ranks with banking and insurance. Investors therefore will welcome the issue of 100,000 8 per cent, cumulative preference shares by this corporation. Preference shares, showing eight per cent, in similar concerns are quoted on the New Zealand Stock Exchange today at substantial premiums, £1 shares selling readily at twenty-six to twenty-seven shillings. The “Reliance” is the only corporation in the Dominion operating on every class of security. The enormously strong position of the corporation is indicated in the following extract from an independent auditors’ report prepared by Messrs. Morris, Duncan and Gvllies, and Messrs. Gilfillan and Gentles, two of the leading Auckland firms of public accountants: “The profit on its present capital, after making all due allowances, is sufficient to pay an S per cent, dividend on the proposed Issue of 100,000 preference shares paid up to 10s a share, without such new capital earning any interest.”

Early application should be made, as it is anticipated that the shares will be quickly subscribed. Copies of the ’prospectus may be obtained from any branch of the National Bank of New Zealand, from the corporation’s broker. Mr. Campbell Paterson, 23 Short land Street. P.O. Box 1208. Auckland, or from any registered sharebroker. 4