Page 3 Advertisements Column 3

Gisborne Times, Volume XIX, Issue 1629, 18 December 1905, Page 3

THE EAST COAST TIMBER AMD TRADING COMPANY, LTD. DIRECTORS: „ , W. H. Tucker, Chairman Cook County Council. J. Townley, Major of Gisborne. W. Siovwrighi, solicitor, Gisborno. F. Hall, plumber, Gisborno. W. Good, jowoller, Gisborno. A. W. Rocs, solicitor, Gisborno. MANAGER and Seoretoiy: H. C. Jackson. SOLICITORS: Messrs Itoos Brotkors. BANKERS:' Bank ef Now Zoaland. C APITAL: One Hundred Thousand rounds in 100,000 shares of one pound each.

THE SHARES are divided into Three Classes Class A.—Thirty thousand Sharoa bearing proforontial Dividond of Eivo per coat, over Class B, and Ton per cent, over Class 0. Class B.—Twenty thousand Sharesi bearing a preferential Dividond ovor Olass C. Class 0. —Fifty thousand Sbaro?, bearing Dividend when Olass A reoeivos more than Ton per cent, per annum, and Olass B reoeives more than Five per oent.

The above Company invites tondors for Two Thousand Debentures of FIVE POUNDS EACH bearing intsreat at SEVEN per oent, per annum, with a currency of THREE YEARS. The Debentures will be sooured upon the following properties : A. TIMBER LEASES made between the Tairawhiti District Maori Land Ceunoil of the one part and the East Coast Timber and Trading Company, Limited, of the other part, over the fol'owing Blocks: 1. The Kumukumu Block. 2. The Haumatuku No. 2B Blook 3. The Haumatuku No. 2A Blook 4. The Haumatuku No. 8A Blook 5. The Haumatuku No. 9B Block 6. The Haumatuku No. 9B Block ■7. The Tapuihikitia C Blook 8, The Raogatira No. 3AI Blook.

B. The Sawmill and Appliances at Tapuhikilia recently purchased by the Company from Mr F. Had, together with the right to the Tramway and the Property in the Bridge recently built by the Company to connect the Mill with the series of bushes up the Waipaoa Eiver, c, Fifteen thousand fully paid-up preferential Shares, The objects for wbioh tho money is being raised by the Company are as follow: (a) The Bum of i£Bsoo for payment of debts and liabilities of the Company at present existing.

(b) The payment to Mr F. Hall of tbc sum of £SOOO, being the balance of purchase money for his plant, mill with its appurtenances, and timbor cut.iog contract. (c) The sum of £ISOO for the construction of the neoessary tramways to connect both the Waipaoa and Waihora Bushes with the Karaka Railway Station, All the properties and shares above mentioned have been oonveyed and assigned in Trust for the Debenture holders to the Chairman of the Cook County Council, Captain Tucker, and tho Mayor of Gisborne, Mr John Townley. Fifty per cent, of the annual profits arising thorefrom will be retained and invested by the Trustees as a oinking fund to pay off the Debentures at their due date.

The report made by Mr Mace upon the value of the timb?r .rights aad properties of the Company est : m:stes the net amount of profits to arise from them at upwards of one hundred thousand pounds. The cutting capacity of the Mill now working at Tapuihikitia is upwards of 60,000 feet per week. The timber to bo out consists largely of first-class Matai, and as this can be plaoed in Gisborne out, royalty paid, and portions of it dressed, at a a cost of le3s than Seven Shillings per hundred, it is obvious that the Trustees will in a reasonable time be able to provide for the full repayment of the money borrowed on Debentures. A Bonus of One Dully Paid-up share of the “0 ” Glass will be attached to every Debenture whept lully paid up, so that every Debenture holder will become a shareholder •in the Company a 3 soon as the Company is converted into a public Companv, without incurrriDg Bny liability for callß or otherwise. Applications for Debentures must be made upon forms which can be obtained from Mr Jacksm, at the office of the Company.

One Pound will be payabta upon application for Debentures, Two Pounds upon allotment, and Two Pouods six months after a'lotmeet, Or, if preferred, they may be paid in full. All cheques must be made payable to the East Ooaßt Timber and Trading Company, Limited. Applications will oloso on the 30th INSTANT. H. C. JACKSON, Secretary.

OPOTIKI DISTRICT. FIRST CL IBS FARMS TO BE SOLD CHEAP.

ri Sr' U <ft»S PER ACRE PINE Iv FAtiM of 500 acres, fenced into 10 subbivisions; 350 aores good grass, 100 aores very useful bush, 50 acre 3 swamp permanent water in every paddock. Will now carry 1000 sheep. House, 5 rooms dairy cowshed, buggyshed, oto. Behool 2 miles; creamery, 4 miles. Prioo, £5 10s per acre, on E&.S? TERMS, viz , *.500 cash, balance 5 years at 5 per cent. OQ PER AGRE BIOH SEASIDE LAND, 250 acres unimproved 50 acres first-class ilax and ti-trea swamp easily drainable; balance good dry land, ex cellent for gras3 or root crops; J eas'd ploughabla. Barbor frontage; sohool 1 mile ; wharf and post and telegraph office, 3 miles oreamery, 3 mileß. Price, £3 pe aore. Terms : One-fifth cash, balance in years at 5 per oent. SAMUEL VAILE AND SONS, Land and Estate Agents, Land Auctionee2 and Valuers, 95, QUEEN BTREET, AUCKLAND.