Page 3 Advertisements Column 2

Gisborne Times, Volume XIX, Issue 1631, 20 December 1905, Page 3

THE EAST COAST TIMBER AND TRADING COMPANY, LTD. DIRECTORS: , „ , W. H. Tuoker, Chairman Cook County Counoil. J. Townley, Mayor of Gisborne. W. Fievwright, solioitor, Gisborne. P. Hall, plumber, Gißborno. W. Good, jeweller, Gisborno. A. W. Rees, solioitor, Gisborne. MANAGER and Sooretaiy: H. 0. Jaolcsou. SOLICITORS: Messrs Roes Brothers. BANKERS: Bank cf Now Zealand.

CAPITAL : One Hundred Thousand Pounds in 100,000 shares of one pound each. THE SHARES arc divided into Three Classes Class A.—Thirty thousand Sbaros bearing preforontial Dividend of I Five per coat, over Class B| and Ton per cent, over Class 0. Clobs B.—Twenty thousand Shares, bearing a preferential Dividond over Class 0. Glass o.— Fifty thousand Sharos, bearing Dividend when Glass A receives more than Ten per oent. per annum, and Glass B receives more than Five per oent,

Tho above Company invites tenders for Two Thousand Debentures of FIVE POUNDS EACH boariog interest at SEVEN per cent, per .'.annum, with a currenoy of THREE YEARS. Tho Debentures will be eooured upon the following properties : A. TIMBER LEASES made between the Tair awhiti District Maori Land Counoil of tho one part and the East Coast Timbor and Trading Company, Limited, of the othor part, over the following Blocks : 1. The Kumukumu Blook. 2. The Haumaluku No. 2B Blook 8. 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 Rangatira No. 3AI Blook.

B. The Sawmill and Appliances at Tapuhikilia reoently purchased by the Company from Mr F. Ha l ), 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 River. c. Fifteen thousand fully paid-up preferential Shares, The objects for whioh the money is being raised by the Company are as follow: - (a) The sum of £3500 for payment of debts and liabilities of the Company at present oxieting. (b) The payment to Mr F. Hall of the sum of £SOOO, boing the balanoe of purchase money for bis plant, mill with its appurtenances, and timber outling contract.

(c) The sum of £ISOO for the construction of the nooessary tramways to connect both the Waipaoa and Waihora Bushes with the Karaka Bailway Station. All the properties and shares above mentioned have been conveyed and assigned in Trust for the Debenture holders to the -Chairman of the Cook County Council, Captain Tucker, and the Mayor of Gisborne, Mr John Townley. Fifty per oent. of the annual profits arising therefrom will be retained and invested by the Trustees as a sinking fund to pay off the Debentures at their due date.

The report made by Mr Mace upon the value of the timber rights and properties of the Company estimates the net amount of profits to arise from them at upwards of od6 hundred thousand pounds. The outting capacity of the Mill now working at Tapuihikitia is upwards of 60,000 feet per woek. The timber to- bo cut consists largely, of first-class Matai, and as this can he placed in Qisborne out, royalty paid, and portions of it dressed, at a a cost of losb 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 Fully Paid-up share of the '■ 0 ” Class will bo attached to every Debenture when lully paid up, so that every Debenture holder will become a shareholder in the Company as soon as the Company is converted into a public Company, without incurring any liability for calls or otherwise. Applications for Debentures must be made upon forms which can be obtained tram Mr Jackson, at the office of the Company.

One Found will be payable upon application for Debentures, Two Founds upon allotment, and Two Founds six months after adoimest. Or, if preferred, they may be paid in full. All cheques mußt be made payable to the East Coast Timber and Trading Company, Limited, Applications will close on the 30th INSTANT. H, C. JACKSON, Secretary.

NOTICE, SPECIAL BANK HOLIDAYS. PURSUANT to' the terms of “ The Banks and Bankers’ Act Amendment Act, 1882,” and “ The Bank Holidays Act, 1902,” WEDNESDAY, the 27th day of December, 1905, and TUESDAY, the 2nd day of January, 1906, are hereby appointed Soeoial Bank Holidays at the offices of the undermentioned Banks throughout New Zealand. The Union Bank of Australia, Limited. G. E. TOLHURST, Inspector. The Bank of New South Wales. E. J. FINCH, Inspector. The Bank of Australasia.

C. B. OOWPEB, Inspector. Bank of New Zealand. A. MACINTOSH, Genera’ Manager, NOTE. —The Banka will also be closed throughout the Colony on the following days, being Statute Holidays •Monday, 25th Dec.,'1905, Christmas Bay Tuesday. 26th Dee., 1905, Boxing Day And Monday, Ist Jan.,1906, New Year’s Day FOB SALE—Now 4-roomed House and 2 oores of Land, on Whataupoko. Very j easy terms can be arranged.—Apply, T. G- [ Lawless* Agent.