FRESH CAPITAL ISSUES.
Notwithstanding continued disappointment with regard to an early termination of the coal deadlock, the autumn revival of fresh capital flotations seems to have commenced in earnest. Over £4,000,000 of capital have been successfully floated during the week, most of the issues being connected with big industrial concerns. Thus, Manbre Sugar and Malt Limited made a total issue of nearly 12,000,000 ; Lewis's Limited, the well-known Stores in the Midlands, sold £1,200,000 in 6 per cent. Preference Shares, while the Gordon Selfridge Trust Limited, with its capital of £2,000,000, made an offer to the public of £1,000,000 in 6 per cent. Preference Shares and £100,000 in Ordinary Shares. The Selfridge Trust, of course, constitutes really a holding company of 750,000 Ordinary Shares of Selfridge and Co., and the Times is undoubtedly right in pointing out that so far as assets go, these Preference Shares might really be styled Preferred Ordinary, while the Ordinary Shares of the Trust might more properly be described as Deferred Shares.
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