The following interesting story of the publication of the prospectus of Tetalisators, Ltd., following. the passing of the Tote Bill by Parliament is sent to us by our London correspondent and abundantly shows the ce-operation which exists between those most principally concerned.
On Monday, August 13, an abridged prospectus was advertised inviting subscriptions for an issue at par of 400,00 10 per cent. Tax Free (up to 6/- in the £) Participating Preferred shares of 10/- each in Totalisators, Ltd. This company was. formed with a capital of £250,000 divided us to $245,000 in 10/- Participating Preferred and the Balance in 1/- Deferred shares, to purchase from Automatic Totalisators, Ltd., of Sydney, Australia, the rights for Great Britain and' the Irish Free State in the "Premier" totalisator machine (commonly Known as "Julius" after the inventor. It was stated that the "Premier" totalisator machine, which is el trieally controlled and entirely automatic, had been installed for some years and had given complete satisfaction on the principle racecourses of Australia and New Zealand and was in use in India and been recent-installed on the Paris course at Longchamp, No details, however, were given of the assets to be acquired, nor were there any pa ticulars regarding profits, although the original company was incorporate ed in 1920, Moreover ay many. people pointed out; it was not de-Ginitcly stated whether the particular machine concerned would be adopted by the Betting Control Board which had to decide the matter. been adopted by the Racecourse Betting Control Baaras (Sd) "Atthar G. Ashby, This action of the Committee was thought to be a very proper one. While it contained no reflect the particular company its appeal for. subscript plain. indication that the ruling body of the Stock Exchange regard ed public dealings in the shares of any' company formed to supply or operate totalisator machines im thi country &s premature, The sequel was provided the fol-Towing day when the appended statement. was issued by the Board of Totalisators, Ltd. lists and have des allotment. "The time und {the announcement made by the Committee of the Stock Exchange was fateulated to place sition of grave was referred revue, to) the in the press
dus as signed by the directors was lodged tunity of considering Before incurring the expenses of an issue. "The directors can say with confidence that. if the purchase of the On Tuesday, August 14, an an. nouncement in the following tort long made rectors wi ili rei ale or advertisement in the press to meet" the Stock Exchange require: ments, otates that the machine. with which' the company is concerned has ari ibitinately adopted'and be In gen-
Text read from the printed page and cleaned; old type leaves the occasional error.