The Paper Industries Ltd., incorporated as a China Company under the Hongkong Companies Ordinances, are to issue 1,320,000 shares of $5 each at-$590. Of these shares, 400,- 000 have been applied for by the directors jand their friends, which will be alloted in full for cash at the issue.price, Of the balance of 920,000 shares, the directors will offer them at $5,30, per. share on March 13, when the subscription list will be opened at.10 am., and close at 10,30 am., the day. The shares. confer the right at all general meetings upon; a poll-to one vote for every share held, The company has been incorporated as an investment company and-itis the intention of the company to acquire 2,075 common shares of US$100 each in the well known concern, the China Fibre Container Ca, Fed, Me, U.S.A. which was incorporated in 1927, as an American company carrying on business China. This solved ^to 4o. US4450,000 and formal official confirmation of the increase is expected shortly, The, shares to be acquired by this company. will thus represent 46.11 per cent, of the common stock. Preferred stock is outstanding to the of these are redeemable at,-at..the.. option of. the Amer, concern, five years after date of
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