FRESH CAPITAL ISSUES.
Somewhat varying success has attended fresh Capital Flotations during the last week or two, but on the whole the response continues to be quite good. In the case, however, of the recent offer of £6,000,000 in 6 per cent. Debentures of the Rhodesia Railways and the Mashonaland Railway at the price of 94 per cent., underwriters had to take up about one- half of the issue, the total offered, of course, being rather large. Nevertheless, there was quite a good demand for the debentures in the market at about 2 discount, and they improved later to about 1 discount on the original issue price. A more sucaasaful issue was the offer last Monday by the White Star Line of 12,500,000 in 61 per cent. Preference shares at par with principal interest guaranteed by the Royal Mail Steam Packet Company. The subscription lists were only open for about one and a-half hours, the offer being oversubscribed.
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