Page 4 Advertisements Column 5

Feilding Star, Volume IV, Issue 49, 27 September 1883, Page 4

Prospectus. !) RO S PECTUS ? of the WELLINGTON MEAT PRESERVING AND REFRIGERATING COMPANY (Limited). To be registered under the Joint Stook 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 perinunent Board by the Shareholders.) Charles Johnston, Esq., M.H.R. (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 Krull and Co.) Joseph Abbott, Esq., Wanganui J. M'Menamen Esq., Tera whiti John Stevens, Esq., M.H.R. (Messrs Stevens and Gorton, Bulls) James Smith, Esq. (Messrs Turnbull, Smith, and Co.) C. C Murray, Esq. (Messrs Murray, Roberts, and Co.) James Bull, Esq., Bulls A. H. Miles, Esq. (Messrs Murray, Roberts and Co.) John P. Russell, Esq., Wangi-Moana Alfred Matthews, Esq., Featherston Andrew Young, Esq. K. J.Riddiford, Esq. George Luxford, Esq. F. B. Larkworthy, Esq., Carnarvon I state, Sanson John T. Dalrymple, Esq., Bulls With pofrer to add to their number. Bankers : The Colonial Bank of New Zealand. Solicitors : Messrs Izard and Bell. Interim Secretary : Henry Wright. Temporary Offices : Temple Chambers. All expenses in connection witk 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 ef Mesrs J. and H. Barber, and Woods, Crosbie and Cc , which hare been so successfully carried on for many years past, consisting of six retail shops, meat preserving and boiling down plant paddocks, yards, horses, carts, and all 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 independent valuator, and approved by the Provisionul Directors, it is proposed to take them ever at tbe sum ot £18,789 5s (vide Schedule A), of wliich the proprietors will retain in paid-up shares the sum of £113,000, leaving the balance to be paid oat ot calls, and to bear interest at the rate of 8 per centum per auuum ; tl<e paym* nt to extend over a maximum period of five years, or to be reduced by instalments of not loss than £1,000 each, at any earlier date, at the ' option of the Company. AU book debts will be taken over as they new stand in the books, and they will be guaranteed at 20s in the pound by the venders. 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 ether articles and property of what kind soever will be deemed to be included in the valuation estimate of £18,789 ss. I he Company will be registered as soon as £'25,000 has been subscribed for, in addition to the paid-up shares to he retained hy the vendors, and the shareholders wijl then be called to- 1 J getht-r to elect a permanent Board and adopt .Articles o', Association. On the registration of the Company Messrs Barber will at their own cost, continue and complete the erection of a large new slaughterhouse at Ngahauranga, and will remove, there from its 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 ior export, or to amalgamate with any other company, or to purchase any business established for that purpose, and to manufacture artificial manures or other produetu which may be considered legitima*te adju acts 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 establishments under one management must result in increased profits and 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. ihe success which has attended tbe Gear Meat Company since its establishment as 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 Messr)* Barber and Woods,' Crosbie and Company, are willing, to sell their respiec- •■ tive; businesses a Company, While ; stiil< 'retaining a very large « interest th'euiselv 3*; and they have ' agreed to place "their services at the • disposal ,' of '.tHe Company for such time as the Directors ' may require, J and not to, ehsrage in any business; in competition with the Company., The resources of the WeUington district, in the way of sheep and