OF INTEREST TO INVESTORS

Sun (Auckland), Volume III, Issue 926, 20 March 1930, Page 10

OF INTEREST TO INVESTORS

BANK SHARES AT PAR An enthusiastic reception has been accorded the Australian and New Zealand Banking Corporation by the public of New Zealand, and the bank has now gone to allotment, the minimum of 400,000 £1 shares required having been taken up. The opportunity to acquire bank shares at par occurs very rarely—in fact it is 40 years since bank shares were offered at par in .his country—and this point will commend itself to all investors. To illustrate the demand for shares in banks, it is only necessary to mention that a new issue of 500,000 shares in the Commerical Bank of Australia, Ltd., at a premium of 300 per cent, has just been over-subscribed by the present shareholders. This can be more readily understood when it is realised that the percentage dividend paid by the six banks operating in Australia and New Zeaeland averaged 14.16 per cent. This impressive return, however, is on the paid-up value of the shares. Bank shares provide one of the safest, soundest and most profitable avenues of investment available today, and the Australian and New Zealand Banking Corporation, Ltd., offers investors an opportunity to come in “on the ground floor.” Prospectus is obtainable from the organising brokers, Dominion Brokers, Ltd., who have offices at Auckland, AVellington, Whangarei, New Plymouth,* Napier, Christchurch and Dunedin.