Page 3 Advertisements Column 2

Gisborne Times, Volume XIX, Issue 1635, 27 December 1905, Page 3

THE EAST COAST TIMBER AND TRADING COMPANY, LTD. DIRECTORS; W. H. Tucker, Chairman Cook County Gounoil. J. Townloy, Mayor of Gisborne. W. Eiovwright, Bolioitor, Gisborne. F. Hall, plumber, Gisborne. W. Good, jeweller, Gisborno. A. W. Boos, Eolioitor, Gisborno. MANAGER and Seorotaiy: H. 0. Jackson. SOLICITORS: Meesrs Roes Brotbors. BANKERS: Bank cf Now Zealand. Capital-. One Hundred Thousand I ounds in 100,000 shares of one pound each. THE SHARES are divided into Three , Classes

Class A.—Thirty thousand Sharos bearing preferential Dividend of Five por coat, over Class B, and Ton per cent, ovor Class 0. Class B.—Twenty thousand Shares, '• bearing a preferential Dividend ovor Class 0. Class C.—Fifty thousand Sbaros, bearing Dividend when Class A receives moro than Ten per cent, por annum, and Class B rooeivos more than Five per cent. The obovo Company invitss tenders for Two Thousand Debentures of FIVE POUNDS EACH bearing interest at SEVEN per ooot. per annum, with a ourrenoy of THREE YEARS. The Debentures will be Eeoured upon the following properties t

A. TIMBER LEASES made between the Taiiawhiti District Maori Land Council of the one part and the Bast Coast Timbor 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. BA. Blook ,5. The Haumatuku No. 9B Block 6. The Haumatuku No, 9B Block 7. The Tapuihikitia C Blook 8. The Rangatira No. 3AI Block. B, The Sawmill and Appliances at Tapubikitia reoently purchased by the Company from Mr F. Hall, together with the right to the Tramway and tho Property in tho 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 Sbareß, The objects for which thejuoney 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 £SOOO, being the balance of purchase money for his plant, mill with its appurtenances, and timber outling contract. (c) The sum of £ISOO for the construction of the necessary tramways to conneot both the Waipaoa and Waihora Bushes with the Karaka Railway Station. All the properties and shares above mentioned have been convoyed 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 cent, of the annual profits arising therefrom will bo retained and in_ vested 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 tirnb.r rights and properties of the Company estimates 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 i 3 upwards of 60,000 feet per week.

The timber to bo out consists largely of first-class Matai, and as this can be placed in Gisborne cut, royalty paid, and portions of it dressed, at a a cost of less 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 attaohed 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 phblic Company, without incurring any liability for calls or otherwise. Applications for Debentures must be made upon forms which can be obtained fram Mr Jackson, at the office of the Company. One Pound will be payable upon application for Debentures, Two Pounds upon allotment, and Two Pcunds six months after allotmest. Or, 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 closo on tho 30th INSTANT.

H. 0. JACKSON) Secretary. NOTICE, 'E can supply you with thoroughly re! liable MLLLINEBY; perfection o style and quality. New Produoiions con. stantly arriving. COMMON, SHELTON & CO., Limited, UniverEal Providers, Peel Street.

FOR EAST COAST PORTS. THE S.S. SHIELEY HASELL Will sail ON WEDNESDAY (TO-DA'S),3DEC. 271 h (Weather permitting), Taking Cargo for the following East Coast ports: Tolago, Tokomaru, Waip.iro, Tucaroa, Port Awanui, and Te Ara^oa. For freight, apply— GPrBOBNE SHEEPFAEMEES 1 , COMPANY, Agents.