23 JULY 1932, Page 44

COVENT GARDEN PROPERTIES.

A point of interest at last week's meeting of shareholders in Covent Garden Properties was the statement by the chairman, Mr. Philip E. Hill, to the effect that the directors were propos- ing to create additional Mortgage Debentures to the extent of £1,000,000 to enable them to consolidate the bank loans in connexion with recent purchases and to provide for additional works contemplated. Although no doubt the Company would be able to obtain very favourable terms for its issue at the present time, the chairman stated that, in compliance with the wishes of the Chancellor of the Exchequer regarding fresh issues of capital during conversion operations, the issue would, in all probability, not be made until August or September.

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