15 OCTOBER 1932, Page 54
NEW CAPITAL ISSUES.
• As anticipated, the partial removal of the embargo on new issues of capital has not been followed by any rush of Undesirable issues. On the contrary, the flotation which took place last week of an issue of £1,000,000 in 41 per cent. First Mortgage Debenture Stock of Covent Garden Properties Company, Ltd., at the price of 98 per cent., was quickly over-subscribed, the issue being of a -sound character and appealing to the investor who desired to obtain a yield of a little over 41 per cent. on a sufficiently well-secured stock.
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