In addition to the numerous issues of capital which are
being offered just now to the general .public, there is a good deal going on in the way of private placings and also of offering of new capital to existing shareholders. In this latter class one of the most important announcements of the past week has been the notification by the directors of the Buenos Aires Great Sonthern Railway Co. of their intention to offer 209,000 shares of £10 each in the form of 6 per cent. Preference shares for subscription by Ordinary shareholders at par. The proceeds are required for outlay in respect of extensions, enlargement of the terminal station at Plaza Constitucion, grain elevators at Bahia Blanca, and other improvements. Next April the shares are to be converted into Preference stock ranking with the existing 6 per cent. Preference stock (the price of which at the time of the announcement of the new issue was 108) with a half-year's dividend accrued in the price.
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