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Newspaper
Weekly Chronicle
Location
London, Middlesex, United Kingdom
Date
Jul 02, 1864
Page
4
A formal meeting discusses issuing new shares at a 25s premium to strengthen a company’s reserve fund. Directors argue premium aligns old and new shares, preserves dividends, and boosts stability, while critics urge a 20s rate and no dividend this year.
The meeting debated issuing new Queen Insurance Co shares at 25s with a 50 000 share cap to build a large reserve. Directors argued a strong reserve protects dividends and future stability, while Baruchson Wells and others pressed for higher or lower premiums and limited market sale.
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