Page 7 Advertisements Column 4

Dominion, Volume 4, Issue 1117, 3 May 1911, Page 7

Abridged Prospectus. THE j (To be IVnslorcd under the Companies Arts in the Stale of N.S.W., 1609-1907). ; CAPITAL -. - £75,000 Divided into 300,000 Share's of ss. each. : 160,00 D Shares nr; ofl'prcd for public subscription, payable Is. on application, 2s. ; on allotnienl, ami the remainder within six months. \ 80.000 Shares :irc lo bo issued ami credited as fully paid up, as hereinafter men t . tionod, and GO,OOO Shares are held in reserve for future issue if necessary. : 300,000 DIRECTORS: FKANCIS (V. BACON, Chairman of the Co-operative Wool and Produce Co., Ltd., Sydney. t GKORUU O. JIYDE, Managing Director, North Bulli Collieries Limited, i Sydney, t JOHN HAGUE SMITH, Merchant, Paeroa, New Zealand. • BXOS BOND, Merchant, Auckland, New Zealand. b BROKERS: s Wellington: lIAIiCOUHT AND COMPANY. ? OBJECTS. ; This Company is being formed ior Ihe purpose (inter alia) of ncquirin" the . sole right to work the guano on the Island ot Wnlpolc, and for that purpose . purchasing an option granted by tho Austral Guano Company, Limited, tne prosent owners of a lc.ise granted by the Administration of New -Caledonia to M. it ■ Aleides JJcs Alnurcs for the working of tho guano on the Islo of Walpole, to 0 ! Messrs. Cousins and Jjinm, to purchase all that Company's right, title, and iii- \ teres, in the before-mentioned lease. A translation ot this leaso may bo inspected • at the oiliccs of the Company or its Solicitors. ,j "Walpolo Island" is situated about 100 miles south-east of New Caledonia and li about 1000 miles from Auckland, New Zealand. The Island stands by itself and ii is clear of all outstanding rock, with deep wr.tcr right up to the edgn ot the Island. 1 On the north-west side of the Island there is a half-moon bay suitable for shipping, vit.i an anchorage of from ten to Iwcnty-ono fathoms. As tho result of most care ul measurements and over 200 tests, there is disclosed over 700,000 tons t ot alluvial and phosphate reel: in sight, of a value of over GO per cent, of tricalcio ;l phosphate, that can easily he worked and shipped. Tho following extensive report .I by Mr. David Cousins (late Manager for tho Austral Guano Company, who is au i- expert and has spent very many years in-llio Phosphates trade) clearly c-ets out under the various headings of Prospecting Values, Harbour, .Plant, Labour, Sliipi ping, Sales, Profit, etc., the advantages that tho Company will possess in the tl possession of this property. '-. CONFIRMATORY REPORTS. :' ... Capt. North, a Phosphates Expert who'was sent to examine the deposits on ,; Wnlpolo Island and to report on tlio natural facilities ior tho shipment thereof,' „ states that the deposit of alluvial guano is not leas than 'JOO.OOO tons; this excludes :1 over 500,000 tons of Phosphate rock. His general analysis of tho cunuo ou Wnlnolo x Island was 01 per cent. Phosphate of Lime. Capt. North's ronort fully eubsUnli- '■ ales the very able report made by Mr. D. Cousins. |- Tho Directors aid Vendors arc applying for a large number of contributing '; shares, tnus showing their confidence in (he soHility-of the Company. a ' TURNOVER. On tlu conservative basis .of £i per ton, the estimated sales per annum for • r.■> , • years is c ~ timtltcll at ,£87,000, and after deducting the cost of lifbour, ,■; distribution, treight, bugging, and delivering, depreciation, administration, and n S?, r ,,-?,?,, ex,lonses, I '- ,£f ' rvo ' eiv -> <»™ would bo a balance of over ,£32.000 CLEAR WSIl dividend 0F om 40 PER CENTREPORT OF WALPOLE ISLAND. BY D. COUSINS. PROSPECTING. n Over 200 holes were put down in the alluvial between the limestone rocks to a depth of 3 to ID feet. In some places the rock cauio up to tho surlace, being in many places pure Phosphate of Lime. To a depth of 19 loot it contained bones of >' animals. Nineteen feet was the deepest hole 1 put down, as I had no explosive to x explore further. Jiy all upiiearancos the rock goes deeper. Some rock is grey in . 0 colour, and some yellow. Tho analysis of alluvial guano wont from CO to 82 per cent., and • the rock phosphate from 21 to 80 per cent. After taking a careful averago and measurement of tho quantity, 1 am prepared to state that, as far as; ;] I have prospected Walpole, ilicro are 700,000 tor.s of alluvial and-phosphate rock: t IN SIGHT, which will average CO per cent, tricalcio phosphate of lime; and ; around the edge of the Island the guano contains a percentage of nitrogen, making it moro valuable. The top of tho Island is level, and has a fair amount of j light limber. Trees about 10 to 12 feet high, and up to 2ft. in diameter. Tho Island is about 100 miles lo the S.E. of New Caledonia, and 1100 miles from New Zealand and Sydney,, lieing only four days' trip by ordinary steamer from Sydney 1 or New Zealand, thus making this Island a depot for both Continents, also 'being situated only SO miles from where native labour can Ix 3 got at £i per month, including food. '■■ ROCK AND ALLUVIAL. j Nine assays taken on the Island gavo an average of CO per cent. Phosphate. One general assay of all the other assays gave:— Moisture 7.25 Organic Matter 9,(i0 r Ammonia .' 0.5;) 1 . Phosphate of Limo (iO.OO 1 Carbonate of Limo ; 21.42 3 Alkaline Salts (Potash) ; .00 ;• ' ' Sand 30 ' Total 100.00 I . SHIPPING FACILITIES. Steamers can bo chartered. Tho most suilablo steamers for this trade nre ' from 1,500 to 2,000 tons "burden. Also the. French steamer "St. Louis," which takes coal to New Caledonia, would lake return cargoes of guano cheaply to New s Zealand or Australia. ...Walnole is. in.-lhe track of steamers trading lo the. r South Sea Islands; they, pass close lo tlio Island going and coming. Arrange-.' ments could bo mado with ■them to call as there is no risk. Steamers can como under ithc.Jen- r ,of,,,,thYi Island almost,.,up to tho cliff tide in deep water, tiling p freight would be cheap , with quick loading nnd no harbour risks. There is no j Phosphate Island in the Pacific- that has tho samo facilities as Walpolo for shipping. . The consumption of Guano.and Rock Phosphate in Iho world is eo largG j and has such an increasing demand that in a few years Iho present sources of ~ supply must bo hard pushed to supply tho present demands with their ? natural increase. In New Zealand alono 10,000 tons of Guano was imported at £3 per ton. ; at ship, and then sold at «C sto the fanner; a low grade quality (30 per ■] cent.) is sold at £[. Last season 5,000 tons of this quality'was raid ex ship for ii £2 6s. per ton and is now quoted at £i (o farmers. We can land in Australia, Ii Tasmania, or New Zealand, Guano at £2 7s. Gd., bagged, giving CO per cent. tricalcic phosphate. Anything above £2 7s. Gd. would ba our profit. Thoro is o an increasing demand for fertilisers, and by giving the farmer a good GO tier K cent, phosphate- fertiliser at about £i, wo should have no trouble in doubling the output shown. Japan and other countries are prepared to givo a fair II price for GO per cent, phosphate Guano. Higher grades conld bo shipped, 'but ■ a general average of 00 per cent, is moro suitable for selling purposes and * ii suits the farmers better, as a quantity of carbonate of limo with the phosphate 0 of limo is moro beneficial. e Taking (lie values of tho importations for lOCS, viz., 1,!)51,325cwt5., at X 5 per ton, which is a fair value for- the goods by (he (inio they reach the farmer r (which position is tho objective of this Company), we get imported into Austra--0 jasia for tho one vear ',£488,530. These figures speak for themselves. Henco tho 1 outlet for the product of the proposed Company is practically unlimited. New Zealand figures show rapidly expanding imports, hut unfortunately the Government only keep the total figures and show them as fertilisers imported, which amount to 50,000 tons. Japan uses .£8,000,000 worth of fertilisers yearly. The prospective profits of the proposed Company, based on figures carefully calculated, aro as follow:— ,C 6. d. (Say) 100 Native "Boys" Wages and keep £1 per week 100' 0 0 Manager 10 0 0 s Engine Driver, Carpenter, Storekeeper (and Assayer), Wharf finger, i men at ,£3 per week ... 12 0 0 v Cook 2 10 0 ! , . Food for staff por week 17 10 0 - Contingencies, ek. (say total por week) ... 80 0 • . .£l5O 0 0 r , £ JZ - Working expenses for Iho vear ... 8,000 h - Estimate of administrative expenses, including advertising at r Sydney (Head Office) £1,000, Melbourno (including Tasmania) .£I,OOO, and Auckland .£1,500 3,500 e Freight from Walpole to tho different depots and at £1 f per ton (freight item could bo materially icdiiced in tho ? event of tho Company running their own steamers) ... 21,900 • Bagging and delivering from ship to wharf (tho goods would f bo landed in bulk and bagged as required), (say) 10s. per l> ' ton ■ 10,950 1 Cost of distribution from depots (thero is no railway freight 1 in the principal Colonies on manures) (say at outside) 10s. ' per ton ■■■ M ••• 10.950 : Output at Walpole with staff as enumerated above would be 1 (including time required to ship) 70 tons per diem, making f a total for tho year (313, working days), 21,000 tons, this 1 amount sold at £o per ton to tho farmer would net .£109,500, but wo prefer to put tho sales down at .£4. at which figure a very largo turnover would bo commanded ... 87,600 Leaving a balanco as profit for the year's working of 32,300 87,000 67,000 In conclusion, being guided by many years' experience, in the guano trade, and knowing that the figures given above aro carefully and conscrvativcy worked up I can safely say that: this proposition is one of tho best that hiis bran placed before the public,'and there is.no doubt whatever, worked on the linos I lint I have laid down, it will prove a highly prohtablo investment to thoso nndiiig (lin rinpnccirv'pnnitil ' Yoill'S lllllllfullv, tho necessao.capital. CoUglNgi ) i'i. i ■ ■ ■ ■ The National Bank or Ni;\v Zkaland, Limited, ■ ■ •: Auckland, 20th January, 1911. I This is to certify that Mr. D. Cousins acted for many years as Manager for ! the Austral Guano Company in charge of the Islands. As a Director of 10 J Company I was brought in contact with him. Ho has good knowledge ot tho i business and excellent control over the labour, the Company having no trouble i with its men during his long term of management'. Sir Cousins has had groat experience in the handling and sampling of guano. J He explored all the islands in our behalf A Full Prospectus Smppßiecil on Application CUT THIS OUT AND FORWARD TO HARCOURT AND COMPANY. The Walpole Island Phosphates Co., Ltd. CAPITAL £75,000. Divided into 300,000 Shares of ss. each. FORM OF APPLICATION FOR SHARKS. l'\Y\ni.li Is. ON APPLICATION. Is. ON AIXOTMKNT, AND TIIE RE. ' ' MAINDEK WITHIN TWKLVK MONTH?. TO THE DIRECTORS OK THE WALPOLE ISLAND PHOSPHATES COMPANY, LIMITED, l-i nu'Kiii.u, nuiuuNGS, 16 O'CONNULL STHEia , , SYDNEY. Gentlemen,— 1 beg to enclose herewith Ilio sum of £ 'i : , being n deposit of Is. per sharo payable on application, for shares in Iho above Company. 1 hereby request you to allot mo that number of shares upon Ilia lerma of the Company's Prospectus, dalcd the day of and I agree lo acoept such shares, or any less number that may bo allotted to me, and to pav Uie sum of 2s. per share ou allotment, and tho balance of 2s. per share as provided by tho said Prospectus; and 1 authorise you to placo my name upon the Register of Sharehojtk'rs in respect of any shares so allotted to me. (Name (in full) Mr., Mrs., or Miss. . Address Occupation or Description Ordinary Sigualuro ~ . We ion