Page 3 Advertisements Column 2

Dominion, Volume 6, Issue 1599, 16 November 1912, Page 3

The' Subscription List will be closed on or before the 14th day of December, 1912. [This Prospectus has been filed &Uk ike &gtsfrartf.Cmp<iiifa-(ft U DATED THIS 7th DAY OF NOVEMBER, 1912. V PROSPECTUS ; ' ... OF /' ,' - ■.■ ij',. ' The Dommioii Portland Cement Company, Lid. [TO BE INCORPORATED'UNDER «Ttb COMPANIES ACT> 1908."]

Capital :s gli©,©®® . , DIVIDED 1NT0.250,000 SHARES OF £1 EACH, OF WHICH 60,000; fiilly paid-shares will be allotted to the vendors in full payment for all rights and properties purchased by the Company;" 80,000 shares are being held over, for future issue if required, and * ; '110,000 SHARES ARE NOW OFFERED TO THE PUBLIC FOR SUBSCRIPTION, ' ■' payable as follows:— ' 2s. 6d. per share on application. 2s. 6d. per chare on allotment. -and the balance in calls not exceeding 2s. 6d. per share each, at intervals of-not less than, three months (SPREADING OVER A PERIOD OF NOT LESS THAN EIGHTEEN MONTHS), " PROVISIONAL DIRECTORS! , • SIDNEY J. NATHAN, of Auckland, Merchant (Managing Director, Arthur H. Nathan, Ltd.) : E. HEATQN RHODES, M.P., of Christchurch, Sheepfarmer, '.CLAUDE' - SLACK,''of Wellington, Merchant (Managing Director, Fraser, Ramsay (N.Z.) Ltd). '.'HEATHCOTE BEETHAM WILLIAMS, of Gisborne, Sheepfarmer, ' NATHANIEL WILSON, of WaTkworth, Cement Manufacturer. BANKERS: BANK OF NEW SOUTH WALES. SOLICITORS: .{ SIN/Wellit^^' CONSULTING' ENGINEER: S. IRWIN CEOOKES, H.1.E.E,, F.C.S., M.Amer., 1.E.E., Auckland. AUDITOR: E. RUSSELL DTMOCE, F.1.A.N.Z., Wellington. . , ■ SECRETARY: ERNEST' W. HUNT, 158 Featherston Street, Wellington,

OBJECTS OF COMPANY.' The objects , and powers • of the Company are set out in the Memorandum of Association, a copy of which is printed 'at the'end. of' the'prospectus.' The Company ..is .being formed for • the purpose of, inter alia:—. ■ ■: •• ■ ■ 1. Acquiring from the vendors the freehold • property '■' ■]mowTi' : as'-"Tikorangi,". situated on tho Whangarei Harbour,/consisting of about,'. 2,220 acres. : 2.- Acquiring from -the vendors the freehold property at ; ' Te ; Sate fPoint containing an additional deposit of .. : White-Limestone. '.'advantage of on offer which at the instance . of '. the, yehdors, the Whangarei Borough Council has .' .executed under seal and by which the Company will ...'■have the right to receive hydro-electric; power at a 1 maximum, price of • .£9 per h.p. per annum. Under . ;i the' the offer it is probable that the cost ivill' • < ; be much less.'.; ' (..'Erecting extensive modern works for the manufacture \ -of>. Portland Cement, thus obtaining, economy and ' efficiency., • ; •• ' . " TiKORANGI. Tikoriuigi "is .oi the mainland and opposite to Limestone Island,, iipon'which; are the. works of the N.Z. Portland Cement C0.,-Ltd. ■ ■ have spent several thousand pounds in thoroughly ; testing'the property. The .cement rock area has beenopened .up,'in. forty different places, extensive bore holes made, and 1 : a tunnel cut into the solid rock in the 6ide of the hill. Seports' fhaye bean made by Dr. J. M. Bell (late Governmßnt'.Qeologist), and Messrs. S. Irwin Crookes, M.1.8.E., F.C.S. (oi Auckland), W. J. Wilson (cement manufacturer -of Warkworth),' George Nelson M.l.MeohiE. (of. Napier), and a wellrlmown. -Wellington .engineer. The originals' of all of these',reports_ may: be- inspected 'on application to the. Secretary, aid; copies may be seen at the following offices:—'. " " WELLINGTON: ..Messrs. Williams, Hunt■ and....C0,, ,158 . . Featherston Street. ■ '. .. . AUCKLAND:'Mr.. S.'lrwin Crookes, Palmerston Build- . .. ings, .Queen Street. , • CHBISTCIIUECH: Messrs. Pyne and Co., Cashel Street. DUNEDIN: Messrs. Sidey and Collier, Solicitors, Crawford .'Street.' : V CEMENTj ROCK. Tikorangi contains, an ■ almost unlimited supply of cement rock, estim'atedat over 400,000,000 tons, with only a .few inches of overburthen,of.earth. The stone con be obtained by open ; quarrying and : be carried down, by'' gravitationto the works bj; nieans of a tramway. '"' ;.The' cement is practically identical in composition with that on 'Limestone Island and at Mahurangi (Wilsons' Portland Cement Co.),' is'therefore proved to be of the first quality; and capable of being manufactured into first quality Portland Cement. " . J WHITE LIMESTONE. . This is^found'on'the'Tikorangi property near, the works' site. The, also hold an option over a further deposit of .white limestone. at To Mata Point, about one and a-hslf miles away',',and the freehold of this property will be passed over to the Company. coal. "The possibility of the discovery of ooal on . Tikorangi is premising."' (yide Dr. Bell's report.) ■_ Coal;- .if purchased from mines-operating in the district, will ; deliyered;at the works, approximately lis. per ton. RAILWAY CONNECTION. ■■ The close,'proximity of the Government Railway will, by the means;, of .' a snort connecting line or siding, reduce the pri<» of coal broughtto the works.,, , ■ v v..-. harbour.; / . Tikorangi is on: the Whangarei ; Harbour, and, ocpan-goifig steamers will'be able-to lie alongsidethe Company's wiarf.frt all tides : a'rid : 'in any'.weather.. Copy of report made>.fe .theHarbour Board-at Whangarei is attached hereto.': ..." ! WORKS SITE. This ie :on practically level ground of unlimited-extent, on the foreshore of the Whangarei Harbour, - and on the Tikorangi property; It is alongside the raw materials (cement rock and white limestone). COST. OF WORKS. ' It is proposed; to ereot modern works, consisting of the best and : inost -up-to-date cement-making : machinery, driven by : hydroelectric power, capable of producing 60,000 tons of | cement, per aimupi.., Several estimates.have been procured'of tha cost, of'; such" works, .including' buildings, the lowest of . which is 448,000, .and the highest .£65,000. Considerable saving in the cost of manufacture will be effected by such a plant as proposed. Cost of power-producing plant ie not included- in tha above estimates, as it is not-required. s : INCREASED OUTPUT, It is estimated'tbat for a further , oapital expenditure of approximately.',£3s,ooo the output of the works oould be doubled. HYDRO-ELECTRIC POWER. The advantages of hydro-electrio power oveT steam-driven power are considerable. • Power at i9,per h.p. per annum is equivalent to Jd. per h.ot* per hour, whereas it costs the Wellington City Corporation, with, a- first-class steam plant, five times that amount, or approximately ljd. per h.p. per hour. • • It "is estimated' that hydro-electric power would entail a saving to this Company of from Bs. to 10s. per ton on the cost of production-of cement. This means that _ the Company oould, if necessary, sell at a price at. which, it costs other companies to produce, and then make a. profit of from 11 to 17J per cent, on the proposed capital. . Borough Council has ascertained from ■» ie|»rts of the Government Chief Electrical Engineer and V;Grookep,. M.1.E.E., that-there is ample .water in the Wairua River to develop the 1500 h.p. required, without any further.outlay on storage than is necessary to construct a weir to hold.™<l divert the water to a race or.flume. Thisls confirmed in; the -report upon, New Zealand water-powers made in. 1904.,, by- Mr. P, S. Hay, M.A., M.lnst.C.E., late boyernmept 'Superintending Engineer, i . ¥ a d am it is estimated about 6000 h.p. can be obtained.;. , , , NATURAL ADVANTAGES. • The liatural advantages, which this Company will have over other companies place it in an exceptionally good 'position. These;msy;, b» briefly enumerated «s follow*.— power; (b) Unlimited supply of high-grado comont rook; (c.),; Whit» lilr.eJtone on prop*r^r; W '2%P :»uppl.r railed to :worki; (®) •s m P' waterin good harbour. Lite ioT *° r k» .adjacent to raw materials; !. v'n '"I> ?° ;° Tarllul ' tll< " 1 ewth en cement rock; (t .-, roe > quarried, eapable of producing -high-grade natural cement (hydraulic lime). Te "thw can b» added'the advantage of large modern works effecting saving in tost of production. ■ ■ ,\' COST OF PRODUCTION. The highest estimate given by experts of the cost of manufacture. of Portland Cement by this Company, including management; depreciation, and contingencies, is 265. per ton f o.b works. V.To this'must! be. added freight to other ports. The minimum selling price at the main ports in New Zealand is 655. jier tbn.' r As an eminent Engineer reporS: "With the lov cost-, of..'production ell countries eouth of the Line could be supplied." ~

Extra Share Application Forms may be obtained from all leading Brokers and at the office of this paper.