AN ASSURED RETURN OP G* PER CENT.' FREE 01? INCOME TAX. Everyono knows about Glaxo, and this famous product now presents a unique opportunity for New Zealanders to participate'in its phenomenal success. In order to further extend and develop tho business, and to provido for future growth, tho Glaxo Manufacturing Company (N.Z'.I, Ltd., is issuing ,£IOO,OOO, twenty-five year 6J per cent, debenture stock. This is now offered to the public in sums of *ElO and upwards. The terms on which this stock is issued are liberal, securing to investors an. assured return from ft flourishing and rapidlygrowing business. Tho debentures aro free of income tax up "to the present assessment under the Land and Income Tax (annual) Act, 1919, and a mortgage over freehold and leasehold properties and fixed assets, amounting to ,£135,000, fully secures tho debentures. The objects of tho company are to acquire as a going concern the manufacturing department of Glaxo and milk powder products in New Zealand, established lv Joseph Nathan and Company, Ltd. That well-known firm has entered into an agreement with tho company to purchase the whole of tho output of Glaxo and full cream milk powder manufactured at factories operated by tho company. Under this contract Joseph Nathan and Company, Limited, are to pay a sum equivalent to not less than £1 per ton in excess of tho cost price of tho manufactured aTticle, and in estimating the cost price, all the expenses of the company aro to bo taken into consideration, but not interest on capital. ... ~ -i It is proposed to increase tho capacity of the factories to an output of about CflOO tons, but even if the present output of 4500 tons were hot increased, tho company would still derive on tho sale of its output under its agreement with Joseph Nathan and Company, Limited, a profit, on the, basis of .£7 per ton, of £31.500. As the interest on the total issue of debenture stock is only. JBSOO, it is obvious that apart from the tangiblo assets of tho company tho holders of the dclienture stock will have a firstclass and safe investment, with nn amplo margin'for a satisfactory dividend. This is an opportunity for safo investment that should not be missed, and intending shareholders should obtain copies of the prospectus and forms of application from tho offices of tho company in Palmerston North, from Joseph Nathan and Company, Limited. Wellington, or fKnn any' branch of the Union Rank of Australia. Limited, or from anj member of tho Wellington Stock Exchange.—Advt. When "TAN-OL" cornea in, dullnwi goes out. A splendid polisher for floor* and furniture, leather and tan shoos,-* Advt.
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Dominion, Volume 13, Issue 244, 9 July 1920, Page 8
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440Page 8 Advertisements Column 1 Dominion, Volume 13, Issue 244, 9 July 1920, Page 8
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