Page 10 Advertisements Column 3

Dominion, Volume 13, Issue 304, 17 September 1920, Page 10

To correct acidity and flatulency take SHARLAND'S FLUID MAGNESIA, b" ing freshly prepared nnd always full strength, SHARLAND'S is the boat you can buy.—Advt.

.. FINANCIAL. _^^ SIX PEll CENT. AND SAFETY. ' ISSUE OF 45,000 G PER CENT. CUMULATIVE PREFERENCE SHARES OF it EACH. SMITH & SMITH LIMITED, PAINT, OIL, COLOUR, GLASS, AND WALLPAPER MERCHANTS. DUNEDIN, CHRISTCHURCH. WELLINGTON. AUCKLAND, AND LONDON. AUTHORISED CAPITAL ...IZ7T. XISOOOO PAID UP CAPITAL 70000 RESERVE FUNDS AND UNDIVIDED PROFITS .... 1)3,020 Tho Company was incorporated in 1901 (with a capital of X 35.000) for ton purpose oi purchasing the old-established Oil, Colour, and Glass Business earned.pu at Dunedm, Wellington, nnd Christchurch by the late Robert Fergus Smith, under the style ol.Siil'iV AND SMITH. In March, 1020, tho Authorised Capital was inoreased to .£150,000 by the creation of (000 new Ordinary Shares of .£lO each and 43,000 0 per cent. Cumulative ''reference Shares of ,£1 each. The progress oMlic Company is reflected in the fact that during tho 16 years ot :rs existence dividends amounting to J870.000 have been paid; while after capitalising reserves to the extent of .€35,000, the Reserve and Undivided Proiita at June 30, 1920, totalled .£33,020. • The Directors have recently purchased a valuable freehold site in Albert Mreet, Auckland, aud have made arrangements for the erection of i warehouse thereon The development of a branch in this city will give the Company scope tor still further advancement. The Directors have decided to erect, in Dunedin an up-to-date factory for the preparation of paints, enamels, varnishes, etc. Tho site has been chosen, and arrangements have been made for this work to bo proceeded with tit once. The services of a London Expert have been secured, and it. h confidently expected that this department will add materially to the earning power of tho Company. To assist in the extension of the Company's bus'ness in these and.other directions the Directms have decided to offer for subscription, at par +5,000 G PER CENT. CUMULATIVE PREFERENCE SHARES OF £1 EACH, which entitle, the holder thereof: (a) To a fixed Cumulative Preferential Dividend at the rate of M per centum per annum on the amount paid up thereon for the time being. Under New Zealand law these Dividends are FREE OF INCOME (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 the Company. Tho Directors now offer for Subscription the above-mentioned 45,000 Preference Shares; instalments payable as under:— On Application Cs. per Start, On Allotment ss. per Share. On January 1, 1021 ss. per Share. On April 1. 1321 ss. per Share. Applicants may pay in full nt thn time of allotment, and a FULL HALFYEAR'S DIVIDEND WILL BE PAID ON JANUARY 31 on ail Shares fully" pad up on allotment. The Dividends are payable January 81 and July 31. in each year, and will be paiid Free of Exchange nt Auckland, Wellington, Christchurch, or Dunedin. ' The Company will pay to brokers u commission of 2' per cent, on all' shares allotted to which they procure tho subscription. _ The minimum subscript'on upon which the Directors will proceed to allotment is ,£15,000. Applications must be for not less than 50 shaves, and should bo sent to the Registered Office, of the Company at Dunedin, together with the amount payable on application. No transfer will be accepted until fhe shares are fullv paid up. If no allotment is made, the depos.t will lie returned in full, and if the number of shares allotted on any application is less than the number applied for, the balance of the application money will be applied in reduction of the allottee's liability on the shares allotted. ■ MANAGEMENT.—Experienced, capable, propress've, responsible and successful, ,SLCI:RITY.-The surplus of assets over liabilities (excluding capital) is JJlo:..ni»o L«. (id., which fa more than double the amount of this issue. These assets do NOT INCLUDE any sum for goodwill. NET PROFITS.-For Ibc past eight years the not profits of the Company, after payment of Income Tax. have Averaged over FOUR TIMER THE GREATEST AK^"VT^?R^\^IimE:SIEKTS ' 0F THESE PREFERENCE SHAPES/ FINANCIAL REPORT by Messrs. Barr, Lenry and Co., F.PA (NZ)- We have examined the Bnlnnoo Sheets, Tracing, and' Profit and Loss Accounts of Messrs. Smith and Smith. Ltd.. for the past fivo venrs, hearing the certificate of Mr T. H. Tlmmnson, F.P.A. (N.Z.), as auditor, and find that the average net profit on CAPITAL AND RESERVE for that period, after providing for deprecia.V 0 ,"- 1 ,-,. !• p - < !" 1S ™ M P f ' - cent. The increase in tho surplus of assets over labilihrs for the same period : s 31.80 per cent., and the accounts show that the »'' s »"ss is and siibstanlinl, tiith a record of steady progrcss.-BARIi, Conies of the Prospectus and Forms of Apnlicntion for Shares ran he obtained from the Brokers and from the Hrnd Office and Branches of the National Bank of New Zealand, Ltd.. and nt the Compnny's Offices at Wellington, Christchurch and Dunod n. Brokers: HnTCourt and Co., Lambton Quay, Wellington; S. George Nathan • and Co., Customhouse Quay, Wellington. THIS FORM OF APPLICATION MAY BE USED: T6 the Directors of „ u SMITH,AND SMITH, LIMITED. Gentlemen,— I hereby request you to allot to me Preference Shares in the above-named Company upon the terms of the Company's circular, dated tho Third Day of September. 1920, and T herebv agree to accept, the same or any Wss number that may be allotted to mc. 1. enclose the sum of £ , being the amount payable on application for the said Shares, and I agree to pay the further sum of 5s nor Share oir allotment and the baton as provided by the said circular ' lilt 1 m,ucst and ""H'ortse you to register mo as the holder of the shares Name in full , , I , Address Descr'ption Dntwl tha day of 1920. Signature ChriS WeUingloiS AucMT" "" * "'• of the'iMrSr 111 Clmß 0 " mn ' mmn *>■ 1920 ' « earlier, at the o P ti„„ Filed with the Registrar of Joint Stock Conyaniea. fAbrideecLl