Page 3 Advertisements Column 1

Dominion, Volume 6, Issue 1605, 23 November 1912, Page 3

Dated this 19th .day of. November, 1912. Piled with the Registrar of Companies at Wellington, .PROSPECTUS OP THE LIMITED. ' ' . ' V To ;be incorporated under "The. Companies Act, 1908," ns a Company limited', by shares. The Subscription, List will close on or fasforo the 31st day of January, 1913. The capital of &o Company is ,£3,500, divided 1 into 8,500 shares of ,£1 eadh', all of which aro offered to the publio for subscription. "... 4s. -par' share on application.) is. per share on.allotment; . .:. and the balance in calls of'n'ot more than 4s. pep share at intervals of not lessthan one month. . PROVISIONAL DIRECTORS: JOHN FORTESCUE MILLS 8 Wellington Merchant THOMAS WARD, A.M.I.C.E. . Wellington Civil Engineer • • ALFRED RICHARDSON MEEK ' ' Wellington Barrister and Solicitor ' WILLIAM HENRY BALLINGER Wellington . : Merchant WALTER ABRAHAM KELLOW . Wellington Morchant ROBERT CHISENHALL HAMERTON Wellington Barrister and Solicitor ALFRED PIERABD . . , Wellington. , Commercial Traveller BANKERS: BANK OF NEW ZEALAND. SOLICITORS: . ! Messrs. MEEK AND VON HAAST,-Wellington, - INTERIM SECRETARY: W. G. TALBOT, 37 Panama Street, Wellington. 1 The proposed ~ Company is being formed primarily for the purpose of maintaining, a Motor Bus Service between. J£elburne and the Karon Tunnel, serving the districts of Kelburne,- Taitville, Northland and Karon, and running oversuch toutes as the Company, may from time to time determine. . • ' ■ Karori; Northland, Taitville, and the western portion of Kelburne have for many years suffered for want of direct communication with the centre of the City, the presenl roundabout Tramway Service taking, from Grey Steet via TiMton Road, some twenty minutes to reach a, point which by the proposed Motor Service would be reaohed in ten minute a saving of time which will enable many residents, to reach their' homes during the luncheon hour. Residents of the districts mentioned have long felt that some speedier and more direct route is urgently needed. - The road-oyer whicth it is-proposed to irun th!e service is an excellent one, practically level for the full distance, and' well suited to this class .of traffic. i ' Tho modern motor 'bug has proved a great success, as evidenced, "by the large proportion of London's^ fr&ffic ■which is now carried by motor 'bus, and tlie recent remarkable increase m value of shares of the London General Omnibus Company shows the confidence of investors in this class of concern, and confirms the opinion that the motor bus has " come to stay. The landed cost ;of a motor to carry, thirty passengers, would bo from £850 to £900. The running cost, including maintenance, depreciation, etc., is estimated to work out at from 9d. to lOd. per mile. ■ The.distance between the Ea/rori -Tunnel and the KeTburne Car Station is slightly over throe-quarters of a mile, wfcich, on a running -basis of lOd. per mile,..represents a cost to'-the Company of under Bd.a trip. The proposal is, during rush or \ busy hours, -to run, if possible, a;' five-minute service, meeting every Kelburne Car, while a service of from ten to twenty mm- • utes is proposed, during ordinary hours . • • / >Tie^existing tram:fare on ; weekdays from Grey Street via Tinakori Road ; to ICarori Tunnel 3d.; time, twenty rninut&3.The Company -proposes to establish a.through fare from Lambton Quajr via Kelburne to the Tunnel of 2d.; time, ten minutes; '• A saving : of twenty,minutes on to return journey is a material inducement to travel by the proposed Motor Service,' besides. a -penny, in fare." is saved each way, representing the sum of. 12s. per annum to each of those whose business'takes, them tx> town each working day. Residents of. western Kelburne at present walking to the Kelburne car and paying/a return fare of-3d. will : only pay an extra'penny for return faro per motor service and Kelburne car. •The following agreements ;have been entered into:— « • , ■' -' (1) An agreement dated-tho -9th day of November, 1912, .between the Kelburne and Karori Tramway Company, i . of the'ohe part, and IVancis• Leveson-Gower- West, •as Trustee for the proposed Company of the other :^v/^ v part, which, provides ?that' from the inception of the Motor''Bus Service the return fare on the Kelburne Car •K"-' will be-'induced to ■ twopence in place of the existing threepence. In consideration of.this concession the Motor Bus Company guarantees .a certain increase in passenger traffic on the Kelburne Car and undertakes to secure ;V';' Bubh guarantee by a ,Debenture covering its-assets. In the event of the increase in traffic exceeding such guaran- : , tee a sum. will be'payable by the Tramway Company to the Motor J Bus Company by way of subsidy up to <£450 *'"/ • per annum. . , (2) An agroement dated ithe 9th day of November, 1912, between the Upland Estate Company, Limited, of the one part and.Fiincis /Leveson-Gwer West as Trustee for the proposed Company of the other part, wliereb;ythe ■" Upland Estate'Companv,- Limited, agrees to pay to to Motor Bus Company, a monthly subsidy of .£l2 10s. for a '' '' period of ,24 months from the inception of the Motor 'Bus Service. , -The may be inspected at the offices of Messrs. Meek and Von Haast, Brandon Street, : ■■■.'■ ■ z:..;-::-::- ; ■■■■■■ s-.J ■ There is a large known .'traffic 'to; cater for, while the inauguration of the Motor Service wift the «»_&*} Kelburne Car. will certainly be' the means of.inducing a largo' increase of population in the. districts affected, Which should commend 'the-proposition from a financial standpoint as likely to .prove .increasingly remunerative. In this conxwction an • extract from, tlie. .report of- the :City'Tramways Board .is of.interest, wherein it was stated m the P r °P°sa'jo lay . down' a 'ttam-li.ne.ibVer, tie route' proposed to be covered by flw Motor Service that the Board oame to the decision that the lme-would'be .considerably iised and.would) pay well." Vide Evening Post, June Ist, 191.,.) This when it is remembered that the laying of a costly trade 'and oveAead equipment would Wave to be 'provided for, .;an item which the proposed Motor' Bus Company is not saddled with. In compliance with the provisions of 'The Companies Act,; 1908," the following particulars are ' (a) The objects and powers of the Company are set out in tho Memorandum of Association, a copy whereof 13 printed herewith and forms part of this prospectus. (b) The number of .shares to be fixed by the. Articles of Associationasthe qualification of a Director is 25, and provision will be-made that tho remuneration of the Directors shall be fixed by the Company in general meeting. ;(c) The'names, addresses, and descriptions of the proposed Directors are as mentioned. . (d) The amount payable as commission for subscribing or ;for agreeing to subscribe or for procuring or apeeang ■ ■ •to procure subscribers- for any shares in-the Company shall not exceed the rate of 5 per cent, on the nominal value •' * of' sluma allotted. . ■ • • . ' ' ' (e) The estimated amount of preliminary expenses incidental to fonnation, establishm«at, and registration of the Company (exclusive of any brokerage) until the Company shall be entitled to commence business is £80. No amonnt has been paid or is intended to'be paid) to any promoter. . . (g) The minimum subscription on which the' Directors may proceed to allotment is <£2750. /M Tine Directors have not nor has any of them any interest in thto formation and promotion of the Company or in flJiv property proposed to be acquired by the Company, and no sums have been paid to any of such Directors in cash or shares by aiy person either to qualify him .as a Director or. otherwise for . services rendered by ham in connection with.the formation of the Company. •' > .Application for shares should be.-made to the Secretary or to any authorised agent, of the Company or aay BhareVoter tocether with the amount payable on application. ' If no allotment is made, the deposit will be returned in full, and if'the number of shares, allotted on anv application is less than the number applied for, the balance of the application moneys, or a sufficient part thiereof, will be applied in reduction of the amount due on allotment. Prospectuses and forms of application for shares may be obtained from the Secretary, W. G. TALBOT, 37. Panama Street. Wellington.

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