Page 3 Advertisements Column 2

Gisborne Times, Volume XIX, Issue 1634, 23 December 1905, Page 3

THE EAST COAST TIMBER AMD TRADING COMPANY, LTD.

DIRECTORS: yf. H. Tuoker, Chairman Cook County Counoll. , J. Townley, Mayor ol Qisborno. , W. fiiovwright, solicitor, Gisborne.' P. Hall, plumbor, Qluborno. W. Good, jeweller, Giaborno. A. W. Reoa, aolioitor, Giaborno. MANAGER and Soorotaiy: H. 0. Jackson. SOLICITORS: j Moesrs Rooa Brotbors. BANKERS: Bank cf Now Zealand. C.\PITAL: One Hundred Thousand 1 ounds in 100,000 shares of one pound each. THE SHARES are divided into Three Classes Class A.—Thirty thousand Sharoa bearing preferential Dividond of Five por coat, ovor Class B, and Ten por oont. ovor Class 0. Class B.—Twenty thousand Shares, bearing a preferential Dividend ovor Class 0. Class o.— Fifty thousand Shares, bearing Dividend when Class A re- 1 oeivos more than Ten per oont. per 1 annum, and Class B receives more than Fivo per cent. \

The above Company invites tenders for Two Thousand Debentures of FIVE POUNDS EACH bearing interest at SEVEN per coat, por annum, with a ourrenoy of THREE YEARS. The Debentures will be scoured upon the following properties : a. TIMBER LEASES made between the Tairawhiti Distriot Maori Land Counoil of tbo one part and the East Coast Timbor and Trading Company, Limited, of tbe 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 Blook 6. The Haumatuku No. 9B Block 7. The Tapuihikitia C Blook 8. The Rangatifa No. 3AI Blook. B. The Sawmill and Appliances at Tapuhikitia recently purchased by the Company from Mr F. Hall, together with the right to the Tramway and tbe Property in the Bridge recently built by the Company to conneot the Mill with the series of bushes up the Waipaoa River.

c. Fifteen thousand fully paid-up preferential Shares, The objects for which 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 existing. (b) The payment to Mr F. Hall of the sum of JESOOO, being the balance of purchase money for his plant, mill with its appurtonanccs, and timber cut'ing contract. (c) The sum of JEISOO for the construction of the necessary tramways to connect both the Waipaoa and Waibora Bushes with the Karaka Railway Station,

All the properties and shares above mentioned have been conveyed and assigned in Trust for the Dobonture holders to the Chairman of the Cook County Council, Captain Tucker, and the 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 sinking fund to pay off the Debentures at their due date. The report made by Mr Mace upon the value of the timbir rights and properties of the Company estimates the net amount of profits 10 ariss from them at upwards of one hundred thousand pounds. The cutting capacity of the Mill now working ai TBpuihikitia is upwards of 60,000 feet per week,

The timber to bo out consists largely of first-class Matai, and as this can he placed in Gisborne out, royalty paid, and portions of it dressed, at a a cost of loss 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 be attached to every Debenture when lully paid up, so that every Debenture holder will become a shareholder in the ComI pany 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 fram Mr Jacksm, at the offloe of the Company, 000 Pound will be payable upon application for Debentures, Two Pounds upon allotment, and Two Ptuods six months after allotmest. O, if preferred, they may be paid in full. All cheques must be made payable to the East Coast Timber and Trading Company, Limited. Applications will close on the 30th INSTANT.

H. 0. JACKSON, Secretary. NOTICE, E can supply yon with thoroughly re liable MILLiINEEY; perfection d style and quality. _ New Prjduelions con stantly arriving. COMMON, SHELTON & CO., Limited, Universal Providers, Peel Street.

for east coast ports. c t -ria THE S.S. SHIRLEY HASELL Will sail ON WEDNESDAY. DECEMBER 27th (Weather permitting), TakiDg Cargo for the following East Coast portsTo'.ago, Tokomaru, Waipiro, Tuparoa, Port Awaoui, and Te Araroa. For freight, apply— QISBOBNE SHSEPFARMERS’ COMPANY, Agents.

NOTICE, ■aWMM OWING to the Land Sale b.ing held Today, and the Christmas Holilays, there will be NO HORSE SALE at the Bazaar To-day and Saturday, the 30th inst. WILLIAMS & KETTLE, Ltd.