Page 2 Advertisements Column 6

Dominion, Volume 13, Issue 209, 29 May 1920, Page 2

FINANCIAL, PROSPECTUS OP '". - r * TBI- iW!AMAND3 WOOLLEN MILLS, LTD., ■ (INCORPORATED UNDER THE COMPANIES ACT, 1908."), ; ; REGISTERED OFFICE: 44 MARIA PLACE, WANGANUI, N.Z. ' capital;.-; '■ In 200,000 shares of'il eaah,-of 120,000 are ppw offered to the public ;for subscription "On the fol - lowing terms per share on application, 2s, per share on allotment, and tlio balance 11} calls of'.ppt ppre than 2s. per sharo, which are only to ho Wide payable wjth an in.terrpl of "'4flgaqt three qftlondjir ■ ; ffippths between the date of allotment and tho first call, and thereafter with intervals of at least thr« calendar -months between each call. . : . PROVISIONAL DIRECTORS. 1. WILLIAM JOHN POLSON, of Wanganui, Farmer, Director for Now Zealnnd pf Bristol apij Dominion Pr<fc : dtioers' Afaooiation. ■ . ,- • J, JQHN STEVENSON, of Wwiapui, Manager <if The New Zealand and Mercantile Agency Company, Limited. 8, QILBERT NOTES BAGQETT, of Tftnganqi, Managing Director of., tj>? Simple? IJaohino Gtgw P!((njr, Limited. "' ' : 1. ALLAN ROBINSON, of Wanganui, Farmer, Chairman, of the Wanganui County- Council, 5. PEROY HJGOINBOTTOM, of Wanganui. Mapaging Director of Purser'si Limited, JTiirniphers. ' #, SYJ>NEI MONTGOMERY DAVIS, of Wangamii, Director of Freeman Jt. JacVsoo and Company,' Stoplf flnd Station Agentß, Wanganui. <' 7.GEORGE LEHEUP MARSHALL, of Morton, Farmer, President of ft" Wellington V'Trovinoial Fpinw»' Union. v.' ' ! ' • ' ■ ' ' 8. JAMES; ARTHUR DOHERTY, of Wellington, Merchant Tailor. ... , ' , Who will hpld offiea until ihe conclusion of this statutory meeting at which the p«rm»nent Director||'>ill : ppint«l. . • . ' ■ BANKERS. , ' " . ■ ' T® NATIONAL BANK OF NEW "F'ttAND, LTD, SOLICITORS. ■ • , M^SHALL,, HJJTTQN, 4ND Wapganni. , ; ; \ INTIiRIM SEGRF/TAIIY. 5. M. SILK. F.1.A., N.Z., of, Silk, Ifwrft and Cofflp«ny, Np. 44 M»ria' INTERIM AUDITOR. ' HAROLD HAGUE SMITH, A.P.A., N.Z., Wangasni, ' ' IJRQKERS: ■.. ' E, M. SILJf, 41 Maria Place, Wanganui. ' , CQLBEOK ANP GRIFFITHS, Queen Street, Auckland. J. 0. JAMESON ANI) CO,, 152 Hereford Street, Clin^tphurali, HARMAN REEVES, 10J nigh Street, Dunedin. IRWIN AND QEORQE, 37 Panama Street, Wellington, ~ MINIMUM SUBSCRIPTION; ' , ,_'"??. : The winhnuin suljsoription on which tho Directors may proceed to allotipeiit i« thirty tliouiand sJurgs, reprpssntiuß: a noininfii Ta}u» r pf thirty thousand poimdsi but' prjir t» tlie issuo. of. this ProapMtiii or any 'v offpr Pf sharcg to tjio public, shares amnnntipK to »uch -fflimnjupj subiksHption had alr?»dy, bsen.:; a,BPliir4 ' for,' The legal objects a nd> ppwere of the Company Hto pet ; in-the Memfiranduni of. ABBoei*Upn,' * copy" of which is printed at tl|« end hereof. , ' ' , - . ' ■ OBJECTS. .. . The Company has l)?en formed for the pnrpo?es of establishing a Wptillan. MUI qj JJill?. in or near • .Wiuiinitwi «nd elsewhere as may be considered advisahlo,from timo to \timo Dy the Djrtetorii. aad to canT qn the businesses of Wooiisn Manufacturer? and any other business pwyMe4 fpr \)j, t!ie K«moraß4wn pf Association. 7 ■ ' ■ GENERAL. . ■ • ' . ~ . , Wanganui is considered to offer an admirable situation, for 'tjie .establishment of i Woollen Ifilj. -It • is tho outlet for a large wool-growing distriot,. from which annually nt ltrw quanfitieit'.ipf "wool are exported. It is conveniently situated with tTegard to. the railway, system for'' the 7foll«ctip|}; 'of ht material and the distribution'of its products, and with the development of the harbour itnd shibpinp, it' may be expected to bo a similarly convenient pqrt. with regard to and overseas imporiji and ports, .Its pqpulatipp i 3 now approaching towards 22,000, and "its ijovelopm?nt ; !! l r»p)d> *14 it promises , to do a a large and evetrgrowing population. „ 7 . . With such a convenient situation', and with a'large population, it pfFpnjs admirahl# fpf'ip.d<Uh ... tries pf all kind? reqiiiring the employment of the labour so avauaple. . . A MilV-smptoying as it does ,ln«K« nnmbers of persons, particularly women and to be established near-such'a. centre of pspulfttlpn, where the employes ire' within easy reach of their., hpwas and also pf those conveniences and amusements which; only a toprpicaii afford.'. - *'*' Tho Borough Council ,of Wanganui has been approached as to the sup ply pf electric Mirer, gpd ' bM' re- ■ p)}ed that by tho timfl a Mill may be expQcted tq hp roady to wmmepce> operatiop»,- th» : Cpunpil ■ apticir .. pates, being able to sell such power as would be required by tho Mill.' , : ' "'" ' ; ' ; This prospqet constitutes a groat jnducemont to the esfcblis'hinent 'of the MiU in Wangap^i..within.T«Bob qf- epfih power. The aiterhntivo to electric power would be steam power, which .fPuM be niPW coetly W&. as reßards initial expenditure in buildings and plant, and also ai.regards opqrAtinß • estrn Iftbpiir involved and the price of conl.. It vronld (lisp render, the Mjjl dPPPfldept fln thf-PPSiISRSW P!^ (Juctioii pf coal—a Tl?k neVlijlhtly tp be'lipdertaken if it c*n bt.aTOided. .. ' Awpl? wat&r fpr ti|eise of a Mil! is al§o aynilablo in Wangamii.' " '• Ip view of tho general nnpettlement in industrial life all.over, the world caused br-tlw War, and th?. rit*.i9 industrial wages to ba expected in those countries from which New Zealand has hitherto drawn her ' woollen , manufactures, imd 'th? contemporaneous increase, jp freights, it niay b? eipeoted that New.'Zealand find . it , . necessary ,to no Iqnger rely on getting suoli n'anufnctiiros .from abroad, produced.under. tnfe hlW'wto existing conditions of low wages, hut to set to work herself and manufacture her owp WQpl fpr,b9r own-PSO or.expert, thus • saving double freight and providing employment for her population; . In,. Now Zealand, .industries hW iAWert? • been handicapped by tho competition of tl«e Jqw wages paid,in.Pt|i»r Countries, ; . the War and the unsettlement it has'caused have removed the handicap under onr industries nQVP BP feredj - and this affords them an opportunity for development with alluring- prqappcta of- prosperity! This applies in ospcclal measure to the woollen industry, and it is for these reasons that th e PfPjfiOt flf ftpestablishment of a Woollen Mill is tow launched. ' 1 -.. New Zealand is by no means oyer-run with such Mills, indeed, the existing Wills art) 'quite mjffo tp 'pppe *Hh ' the denjand for woollen ucods. There is, therefore, it is thnught,. an arpple opening for t|» establ|sbipent of 6ueh a Mill in Wanganui. , ■ ' . ...... . 7'..- ■ No site for the pstabliflhPJflnt of nny Mill has been .decided upon; »lt!wißh and ,< there ara no contracts fpr the snip or propflßQd *»(« Of property to Cbmppny, flr,.fpr any r p\irppee.,whtt?so-. ever ip cpnneotion with %CpwpwAttention is drawn to the fact that unlike most new ventures there is APSOLIITEI/Y NQ_ LQAPING -in connection with tho Company. All the Capital subscribed, except the prelirainary pipepgos »pd 'broserap underrmentioncd, will be ?mplpyed ip erecting and equipping tho Mill or Mills. . ' : No Director has any interest in tho-prpmotjon of the Company apart, from thMhm .hMUbsnribed fori .fpr which he will pnv in cash. ... _ •• • ... The three existing woollen manufacturing compamm in th* Domipion are m .ftJflOurisbinß copdropp, M ~ the prices'of tho shares, as sliqwn below, indicate; and tt« proinotei*. oppfidently Jopfe (or a BtmiJiiW fH?cessM eo'oer fpr this company. Name of Company. Phld Up;' - Market Prico at April 27i 19^. •■■ ■ £ e.d. - ■ •• -■ ■ Kaiapoi Woollen Manufacturing Co., Ltd. 800 ' 1 (Bujpr?. SO SpIW Mosgiel Woollen .Factory Co., Ltd. ' 810 0 ,£9 17s, pd, (Byyerg, no • Wellin»ton Woollen Manufacturing Cp., Ltd, 410 Q ; M 15s. (Buyew, np, Sellers) _ The preliminary expenses of and incidental to the promotion fstablilihment pf_ til® OOPPW wd until ■ the company Bhnll bo entitled to oonimence business (exdupivis pf twokerage or commiwion on. pale of fihjires, but including p sum to be paid to Mr. R. D. Macdonald, a woollen maiwfsptyrer recently from Scotland, for 4 tervicp? rendered pnfl tp be TPnd°re<l by him to the company in. furnishing <kt». and .Mrirtipp in tlje prpniption of thV«on>PA"yi aro tp amount to five hundred pounds and will po ptilft by the pompny. • ■ The company 'Will have power to pay ony persons (including dir®otor|) procurinj the subscription of shw?l; at the rato of 5 per cent. pp. the nominal dmount of such shares.:' r , Tho Articles of Asßooiation provide that:— A",'."'.' i.:. (a) Art, 86. It shall not bo necessary for the first.-directors appointed jndei' the.last clMBp to hqld any , . shares in the company a director's nunlificatiop, but no ra«nb*r. shall, bo eligible for election as a director pt tho statutory c*wml meotipg or theimftor unless h® holds 800 shares in the capital of '. ' the company. ' .....' (b) Art, 88, The directors shall be paid out of the fund? of 'the'oqmpftny by. .way. of WPfiarfition. for- ' their services such sum or sinus M the company nwy from time to, fix Jit ft gOllOral .mfctingi, such remuneration may be divided amongst thorn in such proportion and PSWPPP a? thp.dircctprs may determine. ' •• - (c) Art. 103. If any director shall be .c«Ued uppn to perform any extra service, or make any special-fixer-tions in going or. residing abwwli or travelling, fop apy of tto purposes of thp company or busir . pess thereof, thp company may remunerate tho director or directors no doing, either bY a fixed sarn or by a percentage of profits, or otherwise as. may. be <lotor,tiiio(l by th« diroctflrs, apd such reniiincratiou may - cither bo in addition to or in substitution for his pr their fhare in tho Tomunera' . tion hwoinbefora provided., " -. \ Application for shares may be made upon the form accompanying this prospectus, nnd .sent, together with the amount payable. on aT>nWtl»">. io the company's interim sedrefery or to any of tho provisional directors or other persons authorised by tho directors to rcccivo applications. If no allotment is made the deposit will bo returned in full, and if tho number of shares allotted on any application ia less than tho number applied for the balance of tho application money will be applied in reduction pf th« allottee's future liability - * on tho shares allotted. ( "• Applicntions will -not be received for less than 20 shares. /; 1 ■ Intending, are pjTticulprly requested to carefully fill in the particulars .in ' the application > fornis ' regarding nationality, as the company cannot be registered until the authorities are Satisfied ss tg th« nationality of every shareholder. This Prospectus has been filed with tho Registrar of Companies, DATED this Nineteenth Day of May, JO2Q. FORM OF APPLICATION FOR SHARES. ' To the Provisional Directors of ; WANGANUI WOOLLEN MILLS, LIMITED. REGISTERED CAPITAL: <6200,000, DIVIDED INTO 200,000 SHARES OP 41 EACH. REGISTERED OFFICE: ii MARIA, PLACE, ' WANGANUI. ■ Gentlemen,—> ■ ■ 1 , I hereby authorise you to allot me < >•»« Shares in tho above Company in terms of the Prospectus issued in relation to the said 1 Company dated the • Nineteenth dijy of May, 1920, and I hereby flgreo to accept the same or'nny less number .of ,shares, that may bo . allotted to me •• ' . .. ...^ I am paying the sum of b^injf thp amount pavable on application for the snid Shares (2s. per share) and I nRW to pay a further sum qf 2?. per 'share on allotment and tho balance ns provided by t|ie fsaidi Prospectus. And I request and authorise you to register me as the holder of tho Shares so allotted. ' ~ - • Name in full Postal Address ~.., Desoription or Occupation t.,....; tioiTro?" Father's Full Namq '. quiredun- • ' . , J.., .. . WwfKfjpi* Birthplaca of Father U ' lnUpns. Mother's Full Maiden Namo ' Blrthplape of Mother.. ! Date ...; - . Signature I hereby certify that the above partioukrs are cprrect. 1 . . . ...... " <■ Nota—ln filling jn Birthplace it j» suffioient to me' the CfeKntiyi and there i* no ftif partioulins'of town or country.