Page 9 Advertisements Column 4

Dominion, Volume 13, Issue 296, 8 September 1920, Page 9

FINANCIAL. SIX PER CENT. AND SAFETY. * ISSUE OF 45,000 6 PER CENT. CUMULATIVE PREFERENCE SHARES OF XI EACH. SMITH & SMITH LIMITED, PAINT, OIL, COLOUR. GLASS. AND WALLPAPER MERCHANTS. DUNEDIN, CHRISTCHURCH, WELLINGTON. "AUCKLAND, AND LONDON. AUTHORISED CAPITAL PAID UP CAPITAL '°- 000 RESERVE FUNDS AND UNDIVIDED PROFITS .... 33,620 Thft Hnmnntiv wni incorporated in 1901 (with a capital of -£35,000) for the purpose STr&Mihg the old-established Oil, Colour, ried ou at Dunedin, Wellington, and Christchurcli by tho late RobeU leigus Srnith, under the style of SALIXH AftD bMnfl. In March 1920 the Authorised Capital wis inoreasul to ,£150,000 by the creation of 7000 new Ordinary Shares of .CM each and 45,000 6 per cent. Cumulative re The n proCTt^s eß is reflected in tlie fact that during the 1G years of S eTK toMa amouitiDir to-270,000 have been paid;, whi e after capitalising reserves to the extent of -£35,000, tne Reserve, and Undivided Profits 0t The* Directors have' recently"'purebnsod a valuable freehold site in Albert Street, Auckland, and have made arrangements for the erection of a warehouse thereon. The development of a branch in this city will gi've tho Company scopo for still further advancement. , Tho Directors have decided to erect, in Dunedin an up-to-date factory for tho preparation of paints, enamels, varnishes etc. The ate hasbeen.chosen, and arrangements have been made for tlua work obe proceeded with at once. The services of a London Expert have been secured, and it 3s expected that this department will add materially to the earning power of the Company. To assist in the extension of the Company's business m these ami other directions the Directors have decided to offer for subscription, at par 45,000 6 PER CENT CUMULATIVE PREFERENCE SHARES OF XI EACH, which entitle the holder Clnnu!at j TO preferential Dividend at the rate of £6 per centum per annum ou the amount paid up thereon, for tlie time being. Under New Zealand law these Dividends are FREE OF INCOME TAX. (b) To priority over Ordinary Shares both as to Capital and Income on a winding up, but to no further rights ita the profits and assets of tue The Directors now offer for Subscription the above-mentioned 45,000 Preference Shares; instalments pavablo as under;— On Application <&• P 6l " Share. On Allotment j* 3, P 6r Sr® 1 "® - On January 1, 1921 5s- per Share. On April 1 1921 ss. per Share. Applicants may pay in full at tho timo of allotment, and a FULL HALFYEAR°S DIVIDEND WILL BE PAID ON JANUARY 31 ; on all Shares fully paid up on allotment. . . • , _ , . , , .„ , „ \ The Dividends are payable January 31 and July 31 in each year, and will be paid Free of Exchange at Auckland, Wellington, Christchurch, or Dunedin. .The Company will pay to brokers a commission of 2i per cent, oa all shares allotted to which they procure tho subscription. ■ , The minimum subscript'on upon which the Directors will proceed to allotment 18 must be for not less than 50 shares, and should be sent to the Registered Office of the Company at Dunedin, together with thei amount payable on application. No transfer will be accepted until tho shares are fully paid up. If no allotment' is made, the deposit will be returned in full, and if the number of shares allotted on any application is less than tho number applied for, the balanco of the'applJcation money will ba applied in reduction' of the allottees ■liability oil the shares allotted. . " MANAGEMENT.—Experienced, capable, progressive, responsible and successful. SECURITY—The surplus of assets over liabilities (excluding capital) .18 ,£lO3 620 l"s. 9d which te more than double the amount of this issue. These assets do NOT INCLUDE any sum for goodwill. ■ • ' . - ,: NET PROFITS.—For the past eight years the net profits of the Company, after oavment of Income Tax, have averaged over FOUR TIMES THE GREATEST ANNUAL INTEREST REQUIREMENTS OF THESE PREFERENCE SHARES. FINANCIAL REPORT by Messrs. Barr, Leary and' Co., F.P.A. (N.Z.): have examined the Balance Sheets, Trading, and Profit and, Loss Accounts of Messrs. Smith and Smith. Ltd., for the past five years, bearing the certificate Ot Mr T H Thompson, F.P.A. (N.Z.), as auditor, and find that tlie averago net profit on CAPITAL AND RESERVE for that period, after providing for depreciation taxes, etc., is 13.6(1 per cent. The increase m the surplus of 'assets oyer liabilities for the same period "'s 34.86 per cent., and the accounts show that the business is sound and substantial, with a record of steady progress.-BARH, LEARY AND CO.. F.P.A. (N.Z.). r , ... . ... , Copies of tho Prospectus and Forms of Application for Shares can be obtained from the Brokers and from the Head Office and Branches of the National Bank of New Zealand, Ltd., and at the Company's Offices at Wellington, Christchurch. and DUI Brokers: Harcourt and Co., Lambton Quay, Wellington; S. George Nathan and Co.,'' Customhouse Quay, Wellington. THIS FORM OF APPLICATION MAY 'BE USED: ■ To the Directors of AND gMITHi LIMITE d. Gentlemen,— I hereby request you to allot to me Preference Shares in the above-named Company nfon the terms of the Company s circular, dated the Third Day of September, 1920, and I hereby agree to accept the same or any less number that .may bo allotted to me. .... t T enclose the sum of £ - T ± . being the amount payable on application for the said Shares, and I agree to pay the further sum of ss. per Share on allotment and the balance as provided by the said circular. And I request and authorise you to register me as the holder of the snares go allotted. / 1 Name in full Address Description '•• : Dated tho day of Signature Exchange must be added to all cheques not drawn on a bank of Dunedin, Christeliurcli, Wellington, or Auckland. . Applications will CLOSE on SEPTEMBER 30, 1920, or earlier, at the option of tho Directors. rM ~ ~ Filed with tho Registrar of Joilnt Stock Companies. I Abridged.] WELLINGTON CITY ■ COUNCIL. ; / IMPORTANT TO INVESTORS ISSUE OF MUNICIPAL " DEBENTURES,.:, iC89,000 AT fij PER CENT. REPAYABLE IN 10 YEARS. rE Wellington City. Council are issuing Debentures to the extent of £89,000, at 55 per cent, interest, for a term of 10 years, for the redemption of tlie Street Widening Loan of £120,000, falling duo on December 1 next. StreefcYWidening. Loan By Accumulated Sinking Fund .£31,000 Balance required \ The Loan of «£SD,OOO is secured on a Special Rate of one-sixth of a P en , n I r 1 J l the pound on the unimproved value of all rateable property within the City of Weilington, Interest payments (half-yearly) and principal repayable at any branch of the Union Bank of Australia, Ltd., throughout New Zealand, free of exchange. Applications for Debentures will be received by the Union Bank pf'Australia, Ltd Wellington, or the undersigned, All purchases of these .Debentures outside Wellington and within New Zealand will be accepted free of exchange. . JNO. R. PALMER, Town Clerk. August 30, 1920. SOUND' AND PROFITABLE INVESTMENT IN UNDOUBTED SECURITY. TIIE PUBLIC OF WANGANUI AND DISTRICT ARE INVITED TO PURCHASE DEBENTURES NOW ON SALE BY THE WANGANUI l uitwiA&i, uhoui BOROUGH COUNCIL, TVEBENTURES, -£100 EACH, bea? ing INTEREST at FIVE AND A IJ p E R CENT., payablo half-yearly on presentation of coupon for interest attached to eacli debenture, at tho Bank of New Zealand at nnif f\( if« ill tllo DOHUnIOII. THE SECURITY IS UNUOUH'IED* being a special rate pledged over tho'whole of tho rateable proporty ot the Borough of Wangamu. Tho debentures are repayable on June 1, 1915, and are payablo to beaier and can bo sold by the holder on tho market at any time. . A indications have already been recived from Dunedin, Christchurch, Wellington, Rotorua, Palmerston N., Nelson, Picton, and other parts of t ' le prospectus may bo obtained on applioation to the Bank of New Zealand- Hnrcourt and Co., Sharebrokere, Wellington; or to the undersigned. G. MURCH, Town Clerk. September 2, 1920. BUSINESS NOTICES. BUBINESS NOTICEB. i;n\UTD T M'LEAN 7t CORSETS! CORSETS I CORSETS'." Metaphysician and Neurologist, , ffORSETS to suit every figure and purse. MAY bo consulted at No. 2 Courtenay You are not well dressed • unless Place Nervous Disorders specialis- yon are well corseted. cd. -SSnir Paralysis, Constipation MAIL YOUR_ORDERS-to bTap'point- 139 Manners Street (opposite King's > rhcatro), Telepliono 20-034. For I'rompt and Careful Attention. ttrFUITTFUL Choice Cut Flowers and Tea Rooms, 126 Courtenay Place. BfS any quantity. Wedding Hot Meals. Breakfast Dinner and aml Presentition Bouquets a speciality. Tea. Is Sd.; open from 7 a.m. t.ll^ Wreaths Crosses on shortest notice, p.m. Cleanest and Cheapest in tho DoMiss Carney. Floriste, 91 Manners St. mmwn.