Page 3 Advertisements Column 5

Evening Star, Issue 3356, 21 November 1873, Page 3

PUBLIC COMPANIES. PROSPECTUS OF THE UNION STEAM SHIP COMPANY OF NEW ZEALAND (LIMITED). (To be incorporated, with limited liability, under the Joint Stock Companies Act, 1870.) Capital £250,000. In 25,000 Shares of £lO each, with power to increase and issue Debenture Stock. Only £4 per Share to be called up at present, payable as follows : —los per .-hare on application ; 10s on allotment; 20s in three months after allotment, and the remaining 40s in calls of 10s each succeeding three months. Provisional Directors : E. B. Cargill, Esq. (Messrs Cargills and M'Lean), A. C. Strode, Esq., R.M. J. A. Walcott, Esq. (Messrs Bright Brothers and Co.) P. C. Neill, Esq. (Messrs Neill and Co.) W. J. M, Larnach, Esq. (National Bank). John Richard Jones, Esq., Matanaka. J. M. Ritchie, Esq. (Messrs G. Gray Russell and Co.) James Mills, Esq. (Harbor Steam Company.) James T. Mackerras, Esq. (Messrs J. T. Mackerras and Co). Arthur W. Morris, Esq. (Otago and South-' land Investment Company.) James Smith, Esq. (Messrs Smith and Anderson). T. S. Graham, Esq. (Messrs Bing, Harris, and Co.) H. P. Murray-Aynsley, Esq. (Messrs Miles and Co., Christchurch.) Bankers : National Bank of New Zealand. Solicitors : Messrs Smith and Anderson. Interim Secretary : James Mills, Esq. This Company has been formed for the purpose of providing more efficient steam communication between the different ports of New Zealand—the want of which has been felt for some time past, and is becoming more perceptible as tbe growing trade of the Colony is developed. It is proposed to float the shares principally in tbe Provinces of Otago and Canterbury, as tbe class of enterprise is one in which they are specially interested, and in which they hare not hitherto occupied the position they are entitled to from their large share in the trade of the Colony. It is desired to establish a weekly line of steamers between Otago and the principal Northern Ports, to put on a steamer between Dunedin and the West Coast Ports of the Middle Island, and also to provide for the efficient conduct of the trade to and from the several smaller Ports on the Coast of Otago and Canterbury. E’er these purposes the following new vessels will be required : Three first-class steamers for the trade between Dunedin and Manukau, to be built in Europe, and capable of carrying from 400 to 500 tons of cargo, fitted with compound engines and the latest improvements, and with superior passenger accommodation suited to the requirements of the present day. The steamers will be of such a class and speed as will ensure every facility to shippers of goods and convenience to the travelling public One boat of smaller capacity and light draught of water, especially adapted to the trade of the West Coast of the Middle Island. With a view to commencing operations without dela.v, it has been arranged to take over, on the Ist of January next, the steamers Maori, Beautiful Star, and Samson, belonging to the Harbor Steam Company’s fleet, and also their new steamer just built on the Clyde specially for the Timaru and Lyttelton trade, and which is expected to arrive in the Colony early in February, These vessels will at once create a revenue for the Company, and, it is believed, will be sufficient to carry on the trade of the ports on the coasts of Otago and Canterbury, The terms on which it has been agreed to take over the Harbor Company’s plant are exceedingly favorable to this Company ; tbe new boat is to be taken at cost price, and the Maori, Beautiful Star, and Samson, at a price to he arrived at by a valuation of the boats by Mr Walcott on behalf of this Company, Mr Mills on behalf of Harbor Company. with Mr A. W. Morris as third valuator, and to be agreed to by the Provisional Directors, with a bonus added equal to their estimated profits for three months, to be verified by an examination of the Company’s books by Messrs Walcott, Cargill, and Morris. This Company will receive an ample equivalent for the bonus so given, in taking possession at once ofa well-established and profitable business, and securing all the benefits of the Harbor Company’s connection and experience. Mr James Mills, who has so successfully conducted the business of the Harbor Company from its commencement, will continue to act as Manager of this Company. It is estimated that to carry out these proposals a capital of L 150.0 0 will be required, and to provide for this it is proposed to call up L 4 per share, making a total of LIOO.OOO, and to borrow the remaining L50,0000n debentures bearing a low rate of interest. This arrangement will enable larger dividends to be declared on tbe paid-up capital. Out of the total number of shares, the proprietors of the Harbor Company will take 7,500 paid up to the extent of L 4 each, and the remaining 17,500 are now offered to investors. In recommending this investment to the pubUc, the Provisional Directors may state that large profits are now being made by steamers on the coast of New Zealand, and they are therefore confident that by the employment of vessels of the character indicated, fi.ted to work with the utmost economy, and meet the growing traffic without undue strain, the Company will be able to secure ample profits, and at the same time promote trade and the convenience of the travelling public, by providing improved facilities and accommodation at reduced rates. , , . , Applications for Shares will be received by the Interim Secretary, at his office, Harbor Chambers, Dunedin; and by Messrs Miles and Co., Hereford street, Christchurch. ,

National insurance company OF NEW ZEALAND. DIRECTORS: J. L. Buttcnvorth, Esq. J. Cargill, Esq. W, J, M. Larnach, Esq. Henry Driver, Esq. R. Oliver, Esq, E. Prosser, Esq. G. Gray Russell, Esq K. Ramsay, Esq. Robt. Wilson Esq. The Company is now prepared to undertake Fire and Marine Insurance business in every branch at Lowest Current Rates, The insurance of English marine risks will be undertaken shortly, and offices opened in United Kingdom for payment of claims. Temporary Offices : MANSE STREET. (Next M'Landress, Hepburn, and Co.) A. HILL JACK, General Manager.