Amsterdam, Mar. 20.
'The Royal Dutch Oil Ca,' will shortly issue a new loan of $40,00% 00, pany in New York and partly The head office of the company confirms the forthcoming issue of a Joan of $40,000,000 in New York four per cent, interest, convertible into Royal Dutch "stock within three years at the rate of G00 per cent, and within the next three years at the rate of 625 pee, eent—Reuter.
New York, Mar. 20.
The Royal Dutch Oil Ca, lor will consist of 15 year 4 por cent. Aebgntures intued, at 899, deal was put through over the transatlantic telephone, Mar. 21.
The Royal Dutch Oil Co's loan of $40,000,000, consisting of 16 years 4 per cent. debentures issued at 898, has been heavily oversubscribed.
The negotiations for the issue of the Loan were settled yester by Sir Henri, Deterding, General of the Royal Dutch Patrolevin Ca, and a director of the Shell Transport and Trading Ca, Ltd,, on behalf of the Royal Dutch Oil Ca, over the trans-Atlantic tele phone with the New York bankers, The Directors consider it is not 20 fair that present shareholders should bear the burden of all this heavy. capital expenditare, and as soon as the market improves, they propose to issue new shares at par to provide funds for the necessary capital expenditure that will be required, probably one new for each five old, and that will bring in TIS. 60,000, which should be sufficient. As you will see from the report, we have a total area under cultivation of 1,664 acres and on 9 paid up capital of tay Tls. 360,000, the planted area J. will, with all necessary buildings, work ott at a cost of Tls. 216 per acre, which I am sure you will agree'is a very low figure indeed.
In conclusion I would like to ex-' press our thanks to Mr. Strettell and his staff for the: excellent management of the estate, and to the Straits Agents and technical adviser for the good care of our property throughout the year.
Before putting the resolutions the Meeting I shall be pleased to answer to the best of my ability questions shareholders may wish 'There were no questions, ahd the' following resolutions put to the meeting and carried unanimously:—
Text read from the printed page and cleaned; old type leaves the occasional error.