Duke of Somerset's Scheme.

Taranaki Daily News, Volume XLVI, Issue 72, 29 March 1904, Page 4

Duke of Somerset's Scheme.

INTRHiVATrONAL COMPANY Win'fl £2,000,000 CAPITAL. An International association with a capita! of two millions sterlingl'!, Wt !, ich is t0 l)e ! ,ui<i "I> unci which will tro raiswl lal( , r tQ mil urns-has been formed in Geneva under the presidency of the link* of Somerset. The association, which has for fl.s object the undertaking of commercial enterprises of every kind, will be earned on on the lines of the Credit Uvonnuis, and will have branches in vvmy capital of Europe and \merica. Seven of the chief countries are represented on the committee Mr J.\ w. P lxloy , , vho wifh lhp Duke of .Somerset forms the English committee, stated that the company had been registered under the laws "I Switzerland, a neutral country because of its international character. "The corporation,•' he (said, "will undertake general Jinnncial business and banking, as Iho term is understood in America, but it will have nothing to do with company promotion or with the placing of "ordinary shares. Assistance, however will be given in suitable cases towards thti issuing o debentures, tho collection of coupons, etc. " There will be no offer to the public, ami no fees will be paid to the directors, their remuneration depending upon th« dividend."