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SOUTH WALES FINANCE

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SOUTH WALES FINANCE SATURDAY. June 8th, 1895. The market to-day continued in that dull and featureless condition which has charac- terised it during the past few days. Very kittle business was transacted. In Rails, Rhondda New Shares were done at 1 Taff Vale Ordinary Stock was inquired for at 79, and Barry Preferred Ordinary at 124, but without response. Mordey and Carney's 4% per Cent. Debentures improved a point, whilst London and Provincial Bank Shares were weaker. A few deals in Rhymney Iron, Old and New, were reported at 32s and 15s 9d respectively, and there were sellers of the New Shares at 16s. The Bute Docks Company notify that, in order to prepare the interest warrants due July 1 on the Four per Cent. Debenture Stock, the transfer books will be closed on the 20th inst. and on and after the 21st Inst, the stock will be transferable ex dividend. The quotations showed the following variations -,Rise -Alexandra Dock and Railway A Preference 1, to 113-115; Mordey and Carney's 4% per Cent. Debentures 1, to 101-103 Swansea Harbour 4 per Cent. Stock 1, to 107-109. Fall-London and Provincial Bank Ordinary ys, to 19%—20 do. Allotments, to v/2-i%. The following business was reported ;— Rhondda and Swansea Bay New, 1. 1. Rhymney Iron Uld, 32s. Rhymney Iron New, 15s 9d, 15s 9d. D. Owen and Co.'s Debentures, 104%. There are sellers of Swansea Harbour Stock, at 108% > Albion Colliery Shares, at S12 lla 3d Rhondda New Ordinary (Y,2 paid), at 1 do. 4 per Cent. Debenture Stock, at 129; -North's Navigation Colliery Ordinary Shares; at 42s 6d Parnall and Evans' Preference Shawns, nt 7% Hancock's Deferred Ordinary, al 9% Joliti Bland and Co.'s Shares, at 13s 9d London and Provincial Allotments, at 1% additional premium Rhymney Iron New, at 16s Taff Ordinary I Barry Graving Dock Ebbw Vales, at JB7 2s 6d. New buyers are inquiring for Hancock's Preferred Ordinary Shares Cardiff Junc- tion Dry Docks, at 43 Swansea Harbour Stock, at 108 Great Western Guaranteed and Debenture Stock Taff Vale Ordinary, at 79; Hhymney Iron New, at 15s 10%d Mordey-Carney s, at 11% Barry Preferred Ordinary, at 124 London and Provincial Bank Allotments Stranaghan and Stephens, at h discount. FOUNDERS' SHARES. TO THE FINANCIAL EDITOR. SIB,-I was glad to find that you called atten- tion in your issue of June 8th to the question of Founders' Shares, as interfering with the rights of Ordinary shareholders. Until quite recently it has been an acknowledged fact that the ordinary capital of all undertakings had a right to the whole of the revenue earned after the Debenture and,Preference stock-if any—were satisfied but it seems to have become a fashion cf late years with certain financial houses, when promoting new companies, to introduce a condition which deprives the shareholder of his rights, and it is only fair that Stock Exchange lists should call attention to it when such is the camp. -I am, c., INVESTOR.

LONDON STOCK EXCHANGE,

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