Page 15 Advertisements Column 5

Dominion, Volume 21, Issue 123, 22 February 1928, Page 15

WESTLAND BREWERIES LOWED (A Company intended to be incorporated under “The Companies Act, 1908. / Nominal Capital : £55,000 Divided into 55,000 shares of £1 each, of which 19,250 deemed to bo fully paid up are to be allotted to the Vendors in part consideration for the purchase price hereinafter set forth. 26,750 Shares are now OFFERED FOR PUBLIC SUBSCRIPTION on the following terms:— 5/- per Share on Application 5/- per Share on Allotment and the balance in calls as required, but not to exceed 2/6 per share, and to be struck at intervals of not less than one month. The balance of 9,000 shares will be held in reserve for future issue at the discretion of the Directors. Proposed The Proposed Directors of the Company are— Directors DR. CHARLES L. MANDL, HOKITIKA. edward McDonnell, merchant, greymouth. WILLIAM P. MONTEITH, BREWER, REEFTON. " ALLAN SMITH, MERCHANT, GREYMOUTH. Bankers} Interim Secretary: Solicitors: Auditor: BANK OF NEW ZEALAND. M. J. FOGARTY, F.R.A.. N.Z., HANNAN & SEDDON, W. M. TYERS, Greymouth. Accountant, Greymouth. Greymouth. ChristchurchObjects of the The primary objects of the Company are to acquire the following oldC mnanv established brewing businesses: O P ? Mandi's Brewery and business at Hokitika, Davies Bros.’ Brewery and business at Hokitika, Pearns’ Brewery and business at Kumara, Monteith’s Phoenix Brewery and business at Reefton, at a total purchase price of £41,975, only £3,535 of which is payable in cash, the balance being payable one half in debentures, and one half in paid up shares. Competition As the Company will merge the whole of the West Coast Breweries Fliminated into one Concern, competition will be eliminated, transport charges C.llTninaieu. greatly reduced, and only one brewer and one traveller will be needed, as against four at present. A modern and up-to-date Brewery will be erected in Greymouth, which is most centrally situated to suit the territory that the Company will command. Output and The average yearly output of the combined breweries, taking the last Prospects three years as a basis, will be 7,850 hogsheads per annum. The new Company will therefore commence with an assured trade, and a plant that can easily be extended to meet future developments. Water Supply An adequate supply of pure spring water has been assured on a centrally situated site adjacent to the Railway, over which the Company holds an option. ’ Management A thoroughly qualified and competent Brewer will take charge of the “ Company’s operations, and the product turned out will be equal, if not superior to, the best beer now brewed in New Zealand. An efficient staff will also be engaged. The only cash which is being paid to the Vendors is £1,500 to Davies , Bros., £1,375 to Greymouth Brewery, £6OO to Dr. C. G. F. Morice for Required by ] an j i anc ] to William Hill over water rights. None of the three Three principal Vendors is taking any cash, but are each subscribing for Principal 1,000 contributing shares in the capital of the Company, thus indicating Vendors their confidence in the venture. No cash or other consideration has been or will be paid to any person to induce him to become a Director or Shareholder of the Company. Moreover, the Debentures are redeemable, which will still further enhance the value of the. ordinary shares. . j The profit per annum from the sale of bulk and bottled beer based on Estimated t^e present output of the vendor Companies, after taking into account Profits the large saving to be effected in management and other expenses by amalgamation, is estimated at £ll,OOO. Deducting from this £1,925 for Debenture Interest, £3OO for Debenture Tax, £1,200 for Estimated Income Tax, £5OO for Depreciation, and £1,250 for Reserve Fund, a profit of £5,825 is available for distribution to Shareholders, permitting a Dividend of 121%, without allowing for development of trade outside the West Coast, which is bound to be considerable. Contrihuting Of the proposed contributing capital, £5,835 will be required for the :t n l cash purchase of the properties mentioned, preliminary expenses, ard capital brokerage. The estimated cost of an up-to-date Brewery and Plant is £15,000, leaving £5,615 for general working capital. There are no Promoters’ Shares. There has been no preliminary Syndicate or Holding Company. The property and businesses are being purchased direct from the owners, who have held them for a great many years. There are a large number of hotelkeepers taking up contributing share* J in the company. Copies of the Prospectus and Forms of — Application for Shares may be obtained * 1 from Finch, Webster and Oswin, I Tq m j FOGARTY, F.R.A., N.Z., ’ Sharebrokers, I T L . c . ’ 159 Featherston Street, Wellington, I I-tenm Secretary, ( or any other member of the Wellington | Westland Breweries Ltd., , Stock Exchange, or from the Organising i GREYMOUTH. J Brokers, z* f’ l. Dear Sir, f M. J. Fogarty a^ d Co ” Greymout , | p rospectus of WESTLAND « McMahon and Lee, Reefton. | BREWERIES LIMITED. J Fill in this Coupon and Send [ Name I for Copy of Prospectus today I 1 j , r Address- * I