Page 4 Advertisements Column 6

Feilding Star, Volume IV, Issue 38, 1 September 1883, Page 4

Prospectus. 71 E O ~i F~ E C TUB H of the WELLINGTON MEAT PRESERVIJS'G- AiSD REFEIGERATLNGCOMPANY (Limited). To be registered under the Joint Stock Companies Act, 1882. CAPITAL £50,000 In 5000 Shares of £10 each (With power to increase.) Payable — len shillings on application; ten shillings on allotment ; and subsequently by calls not exceeding at the rate of five shillings per month per share. Provisional Directory. (The following gentlemen will act on the Company's behalf until the appointment of the permanent Board by the Shareholders.) Charles Johnston, Esq., M.H.E. (Messrs Johnston and Co.) Hon. hobert Campbell, M.L.C. W. Waring Taylor, Esq. J. G. Wilson, Esq., M.H.R. Donald Fraser, Esq. John McLennan, Esq., Oroua Downs Charles B. Izard, Esq. (Messrs Izard and Bell) F. A. Krull, Ksq. (Messrs Krulland Co.) Joseph Abbott, Esq., Wanganui J. M'Menamen Esq., Terawhiti John Stevens, Esq., M.H.R. (Messrs Stevens and Gorton, Bulls) James Smith, Esq. (Messrs Turnbull, Smiih, and Co.) C. C. Murray, Esq. (Messrs Murray, Koberts, and Co.) James Bull, Esq.. Bulls A. H. Miles, Esq. (Messrs Murray, Koberts and Co.) John P. Russell, Esq., Wangi-Moana Alfred Matthews, Esq., Featherston Andrew Young, Esq. K. .J.ltiddiford, Esq. George Luxford, Esq. F. B. Larkworthy, Esq., Carnarvon Kstate, Sanson John T. Dalrymple, Esq., Bull 3 With pofver to add to their number. Bankers : The Colonial Bant of New Zealand. Solici/ors : Messrs Izard and Bell. Interim Secretary : Henry Wright. Temporary Offices : Temple Chambers. All expenses in connection with floating the Company prior to registration to be borne by the Vendors. The objects with which this Company is projected are to purchase, continue, and extend the businesses ot Messrs J. and H. Barber, and Woods, Crosbie and Co., which have been so successfully carried on for many years past, consisting of six retail shops, meat preserving and boiling down piaut paddocks, yards, horses, carts, and ail complete the applications necessary for conducting the extensive business which now exists. A schedule of the various properties used in the business is appended at foot, and the values having been ascertained by a competent independant valuator, and approved by the Provisional Directors, it is proposed to take them over at the sum ot £18,789 5s (vide .Schedule A), of which the proprietors will retain in paid-up shares the sum of £12,000, leaving the balance to be paid out of calls, and to bear interest at the rate of 8 per centum per annum ; tiie payment to extend over a maximum period of five years, or to be reduced by instalments of not less than £l,ouo ■ each, at any earlier date, at the J option of the Company. All book debts will be taken over as they now stand in the books, and they will be guaranteed at 20s in i the pound by the vendors. Live stock, tallow, horses, carts, and several smaller properties not already valued (vide Schedule B) will be taken at a valuation on delivery; but all other articles and property of what kind soever will be deemed to be included in the valuation estimate of £18,789 ss. The Company will be registered as soon as £25,000 has been subscribed for, in addition to the paid-up shares to be retained by the vendors, and the shareholders will then be called together to elect a permanent Boarc and adopt Articles «f Association On the registration of the Company Messrs Barber will at their own cost, continue and complete the erection of a large new slaughterhouse »t ISgahauranga, and will remove, there from it» present position in Wills-street, the whole of th ir meat preserving machinery and plant. It is intended to take power in the Memorandum of Association to enter upon the business ot freezing meat for export, or to amalgamate with any other company, or to purchase any business established for that purpose, and to manufacture artificial manures or other products which may be considered legitimate adjuncts to the business, but for the present, at least, it is deemed prudent to rest satisfied with the known profits of the businesses as they stand, without embarking in more speculative ventures, and it is evident that the combination of the two establishn ents under one management must re3ult in increased profits anu largely diminished expenses, , The combined businesses show a net profit of over 15 per cent., and it is confidently expected that when conducted under one head, this may be considerably exceeded. The success which has attended the I Gear M eat Company since its establishment us a public Company, shows conclus.vely that such businesses are more systematically and advantage ously worked and extended in thi> way. than by private enterprise; and it is for this reason that Messrs Barber and Woods, Crosbie and Company, are willing to seil their respective businesses to a Company, while still retaining a very large interest themselves ; and they have agreed to place th-ir services at the disposal of the Company for such time as the Directors may require, and not to engage in any business in competition with the Company. The resources of the Wellington district, in the way of sheep and