A NEW DRAPERY COMPANY.

Evening Post, Volume CVIII, Issue 135, 4 December 1929, Page 14

A NEW DRAPERY COMPANY.

Patrick s Drapery Stores, Ltd., has been formed and its prospectus is issued in accordance with the rules of the is £65,000 in ordinary shares of £1 each tL ar, e .ofeed-' to the nublic! me provisional directors are Messrs. D. Win t'i, n° maS Forsyth ' and G. W. Willey. The Company is formed to take over as a going concern the well-known drapery establishment at the corner of Cuba street and Vivian street, trading as D. S. Patrick and Company', andl to erect a new and up-to-date building on the site, taking m and reconditioning the present three-story brick buildings occupymg a portion of the site. The land is ownea by the City Corporation and is held on renewable lease. The business of D. S. Patrick is very well-known, having grown from small beginnings in' twentyfour years to what is certified by the auditors (as the prospectus states) to be a very lucrative business. Consideration to be paid to the vendor, Mr. Patrick (who will subscribe for 20,000 shares on c *ermS as °ther subscribers), is v ,j'°?° jln , for the leasehold land and buildings, and stock-in-trade plant and fixtures to be paid for in cash on valuation. It is not intended to raise any mortgages on any part of the company s assets. Preliminary expenses are estimated not to exceed £400 exclusive of brokerage. '