Page 14 Advertisements Column 1

Hawke's Bay Herald-Tribune, Issue 131, 19 June 1937, Page 14

I Dated this Sixteenth day of June, 1937. Copy filed with the Registrar of Companies, Napier, this Seventeenth day of June, 1 937 PROSPECTUS OF UME HYDRATERS LIMITED I THE ONLY UME HYDRATING PLANT IN THE NORTH ISLAND INCREASE IN CAPITAL OF £54100 I INTER AUA TO PURCHASE FREEHOLD OF PROPERTY, INCLUDING QUARRIES PRESENT NOMINAL CAPITAL £13,500; SUBSCRIBED £8,500; PAID £8,378 OHering lor Public Snbscrlptton 5,000 Ordinary Shares I of £1 each, payable in full on app lication AND ranking pari passu as to dividends and voting poweis I with existing subscribed capital of the company. I -f tt m 1 Xt is also anticipated thiat considerable business will be done in the South Island. ■ EOBERICK FORBES CAMPBELL, of" Hastings, MESSIETJRS RAINBOW, HOBBS & NESBITT _ ■ Timber Merchant. of Hastings. Public Aceountants. ' ["COPYl . has PaSs®d exPerimental stage— it fe proven that the product is outstandI nTD-prmnBa can Pr°duded at a profit — that the demand is there and that the consumer ■will I DIRECTORS BANKERS Please Address Letter«! to TW oc-i Tlastino"? ^Uy' ^,he of s&area in Company is no longer a speculation— it is a tried and proven I ARTHUR STANLEY TONKIN 6f Hastings., niwir m? otw ^onTTi watw - Addiess Lelters to Box Hastings. investment affording attractive returns in dividends. The huge size of the deposit ensure I Solicitor. Chairman. HASTINGS. Freezing Works, e continuous operations for many many years. I SEPTIMUS ASHCROFT, oi Hastings. Cool arir WHAKATU. .... DBmTTBfn m r\ t>-id nm.mnT, Store PropiietoT. SOLICITOE STATED IN THE PEOSPECTUS SECEETAET ^ S* T0NKIN' of Hastings. Solicitor. Office: - By Virtue of Third Schedule of'The Companies Act, 1933." 1 HAEOLD GEOEGE CAER, of Hastings. Public EEGISTEEED OFFICE ^ 1HIOM KARAMU ROxYD, HASTINGS. i. The Memorandum of Association appears hereafter with' the names, descriptions and addresses of Accountant. * . KARAMU EOAD HASTINGS. THE the signatories and the number of shares subscribed for by them and forms part of this Prospectut. - - ' HAWKE'S BAY FARMERS' MEAT CO., (2KB. This is not necessary in a newspaper advertisement.) PROGRESS OF THE COMPANY. LIMITED. g 2. There are no founders or management shares. I ^«_^»Panywaa incorporated in July, 1936, with a capital of £7,°°° for the purpose of producing HASTINGS, N.Z., I 3. The Articles of Association'1' provide:- 3 hydrated lime, xoche lime, builders and plastef ers lime and agricultural lime from a luuge and unusual deposit 1 TO 1st June, 1937. B of calcareous sinter situated at Craggy RaUge ten miles from Hastings. A lease. wai obtained from Mr. MFQQPQ t tmT7 uvnpatpnc r-rn 8 (a) The qualification of a director is the holding of 100 shares in the Comnanv and thn Artir>lA» A. E. Brooks for twentydive years with right of renewal at a rental based on a royalty of 3/- per ton MESMtb LIME HYDRA1ERS LTD., of Association provide that the DiTeetors shall be paid out of the funds ofS Company byway of Roche and Hydrated lime afld I/- per ton of agricultural lime with a minimum of £150 per annum. The Box 305, Hastings. of remuneration for their services during the first year the following sums namely as to the lease cofitains an option to purehase at £4,000 payable £2,000 in cash and 2,000 fully paid One Pound shares — n Chairman the sum of £125 and as to the other Directors the sum of £75 each ' After the first the option to be exercisable within 5 years. UearSirs, ..... year the Directors sha.ll be paid out oi thefunds of tho Company by way of ' remunerdtion for i ^ ^ • 1.3 • n • x . » ^ a , , t ^ou W1" probably be interested to know wbat we tliink their services such sum or sums as the Company niav from time to time fiv nf n RBnoTai Mr Brooks was appomted manager under service eontract for 5 years at £350 k year, free house, freo „+• T • . Q , M(.„f:T.0. „„fl r0TnilT1O7.n+1-n„ 6iia,1 ^ y tll]ie xo ,ume tix. at a General iirifig ma gmzittg and 5 per cent. of the nett profits. ' 0± 5 Lniie after bavmg nsed it for a season. letiui S be diyided amongst them m sueh proportions and manner S . We have found it quite satisfactory, in fact better than as the :Dir0etors may determine. CoMtrneHon of the iMfl and buildings was commenced and it was qnfcMy seeii that an extra kiln any other Lime we haye used. * (b) The Artieles of Association provide that the whole of the Directors shall retire at the first woula need to be erected with the resnlt that the capital was mcreased to £8,500 and readily subscribed Tj • r .c j t ! . , , s. a™.™: , u ^eetors snaii retire at tiie tirst It is lree grit and works down mto a very sniootli Urdmary General Meetmg of the Company and at the Ordinary General Meetmg in every Production of roche lime was coinmenced about October, 1936, but full production was prcvented by paste. , subsequent year ono-third of the Directors for the time bekig or if their number is not three the fact that all cOnstruction had not been completed and by the faet that eertain machinery was delayed TTn^/.r. ,.,0-0n|. ,(i, ,n . , .. , or a multiple of three then the number nearest one-third shall retire from office. ' • w j. ^ ^ n tvt it. i i „ .. .. .. . .. j.j! . . .. . unaer Tjresenc conaitions we sliail be users oi it ror our a WupttHmt from E»«lana. Neverthekss saies of lime wero sabslaetonly effeeted as follow.:- £uU requh.e]ients 4. The names, aoseiiptioes and addresses o£ the Directors have alraady been set ont T° ti0»mieTw "" " " "* ?7R Yours faithfully, 5. The minimnin amount which in the opinlon of the Directors must be raised by the issue of the **' ^ *•' rt",J . 17& t0 S (Signed) F. S. CANDY, present increase in order to provide the sums or the bal'ance of the sums required to be prOvided in "•The whole of the plant and machinery is now in full and perfect operation and the disorganization Manager ' respect of each of the following matters is:— inherent in the establishment of a new industry has been practicially eEminated. ' (a) The purehase price of land £3j200 0 0 That the Company 's products are of outstanding quality ia provejd by the statements of appreciation pQ BOX 150 (b) The legal costs of purehase thereof and preparing and printing Prospectus 70 0 0 xeceived from consumers. r * " 9 , 0 ° FROM GISBORNE, N.Z. (c) BrokeraSe 011 3;535 shares at per cent. . ^ .. 265 0 0 The first six montfis trading-resttlts (26/10/36—3/5/37) showed a turnover of £2,356 7/6 with a nett THE i7tb i„„0 profit of £35 16/4. • GISBORNE REFRIGERATING CO., ' ' ' £3,535 0 0 The Directors consider that the profit shown— thongh small — is very satisfactory under the circnm- LIMITED. . 2T° money has been borrowed by the Company in respect to the foregoing matters and no provision need stanees and is an indiciation of the possibilities of the earning power of the business. When it is TO necessarily be made for further working capital. remembered that the Company has not been in existence for a year and that the delay in the arrival of mUtl c,1.,rmr,r,1 TT.rT1 A rr,„ „ T - m. „ „ .. ^ . ,. . the machinery from England not only disorganised the routine of production but also prevented the SECRETARY, HYDRAPES, . ' a 0 l0 P y^0in ^ on application. There have been allotted smce the meorporation of exploitation of saies of hydrated lime— a depaxtment that will produce at least half the gross saies of the Hastings, P.O. Box 305. * fsVsT/T7 163 011 r3S 80 allotted tte sum of Company — and moreover necessitated the sale of considerable quantities at low prices in the form of Dear Sir, ; /6' agricultural burnt lime instead of at a considerably higher price as hydrated lime, then the confldence of Havinff now had the. onrmrfcumtv of te«tioo- out 7. No shares have been issued other than for cash. the Directors based on the proven experiences up to date will he seen to be fully justified. , 8 7 f . opporcunuy oi tesung out sevcrai snipments oi your lime we have no hesitation m 8. The Vendor of the property proposed to be purchased is Mr. Albert • Edward Ernest Orlando EEASONS FOR INCREASE OF CAPITAL. saying it is entirely satisfactory for FeHmongering Wellington Brooks whose address is c/o Post Office, Havelock North, and who resides on the said- property. The Directors have decided that it is in the best interests of the Company to acquire the freehold of purposes. ^ Tlie paichase price is £3,200 cash. No payment is being made for goodwill. the property (including the qnarries)- thereby being freed from royalty payments and that it is also ' One of the outstanding features is that there is prac- 9. There hias been paid since the incorporation of the Company commission for proeuring subseripdesirable to secure the terminjation of the service. eontract. In lieu of the option contained in the lease tically no loss through grit and it is very readily mixed tions for shares £700 at the rate of 10 per cent. on 7000 shares and £75 at the rate of 5 per cent. on ^ttd™nexrSult °-f neg°tiati°* ^r- BrQoks an offer has been received from him to sell the freehoid % Although the price is a little heavier than some of 1,500 shares. for £3,200 the service eontract bemg also agreed to be simultaneously terminated. Royalties to date of .. .. ... , settlement are to be paid land the price is payable in cash within one week of acceptance of the offer. competmg limes this is more than oifset by the 10. The estimated amount of £70 is provided to covcr legal costs of purehase and preparation of The offer is irrevocable nntil 4 p.m. on the 9tt August, 1937. advantages. Prospectus and of printing. The moneys received from the sale of increased capital will be nsed:— f 0 ^>e helpful to you in floating the 11. There was paid on the incorporation of the Company the sum of £300 to the Promoters, Messrs. a-dditional Capital required we have no objection to your Tonkin and Carr, for services rendered prior to incorporation. (a) To purehase the freehold .. .. •. .1 . . km r.m •. .. .. .1 •. .1 .. £3,200 using a copy of this letter or such extracts as you may 10 rm. « n • - ^ ■ i , . m_ „nTr t,..!,.,.. _a „ari4. „„K ii.i! i . i. . " 12* following are material contracts: — (b) To brokerage at per . . ... , . r,j,. . 375 deem advisable to show mtendmg mvestors. (c) To pay costs of purehase, preparing and printing Prospectus ... r.r., .. .. 70 Yours faithfully, (1) Contract dated 22nd August 1936 being service eontract with Mr. A. E. Brooks (d) Balance available to reduce or pay off Bank Overdraft .. .., ^.j 1355 (Signed) GISBORNE REFRIGERATING CO., LTD. (2) Memorandum of Lease Registered Number 65654 dated 9th September 1936 with Mr. A. E. F. TOLERTON. Brooks £5,000 — — — — (3) Offer to sell made by Mr. Brooks dated 8th May, 1937. At an Extraordinary General Meeting held on the 27th May, 1937, it was unanimously agreed j Ple^e"Tear^)ff "and ™FiU™fnT" """""" ™ These contracts may be inspected at the office of A. S. Tonkin, Solicitor, Queen Street, Hastings, during to increase the capital and complete the purehase upon the receipt of the necessary capital. 1 A DDT I P A TI A\T C/*\D OLV AD17C ■ business hours. b SAVINGS. 1 1 lv/1 N f v/iv ■ 13. The Company Js Auditors are Messrs. Rainbow, Hobbs and Nesbitt, Public Aceountants, Queen ! . ■ Street, Hastings. The savings to be effeeted by the non-payment of royalty, of manager ^s salary, of non-provision for 1 ~ J . free firing, free house and of non-payment of porcentage of profits are estimated in a normal year to ■ rirrrT, . mTino T 1 14- No Birector has any interest in the property proposed to be acquired. Mr. Tonkin as a director amount to not less than £12/1/6 per week. ! IHE DIEECIOES, LIME HYDRATERS, LIMITED, l was interested in the promoters fee montioned in clause 11 hereof. \ HASTINGS. v ■ ESTIMATE OF FUTURE SALES AND PROFITS. ■ Dcar SirSj S 15« T3iere are 0nly °tdimry shares. Having regard to the experience alreiady obtained by the Directors in the operation of the Company J X ^eroby rc(iuest you to allot me Sharos in the ■ 161 TJl0 Company has been carrying on business ginee the SLh Julj, 1936. . based on known factors of aetual and potential demand — on past and l'uture costs and sale prices, the J J . following estimate is confidently set out by the Directors as a reasonable forecast of tho Company 's business y al)0ve Company upon tho torins of tho Prospectus dated the 16th J 17. As the Company has not been in operation for oue year no audited statement of aeeounts has and is arrived at after a careful survey of the market. J day of Juue, 1987, and I hereby agree to accopt the same or any 1 be011 ln'°Pared and u0 dividends paid or deelared. The following statement is provided by the Auditors: — Saies of roche lime, hydrated lime and Y \ less number allotted to me. 1 Land you herewith the sum of . As r01uijr0Cf ^ Parvfc ^ Se^ioiI 1 of tho Hd Schedule to the Compianies Act 1933, we report ooTiOTinroi n-rwi 4-r. ( n nrrn , ■ , . " that uo uccouuts have been made up m respect of the past tradmg o± the Company, tho Gompany not agrieulural lime to freezmg works ) 2,077 tons * £ bemg payment u> inll for tko said Shares ana 3 • liaTing been in operation for one year. Itannenes, fellmongenes, builders, ) ■ t and autiorise you to register me as tho holder of the ■ i ,plasterers, orehardists and farmers ) ■ 1 J ' « (Signed) RAINBOW, HOBBS & NESBITT/ ■ Shares SO allotted. ■ y AnrHfnr« nf +n« rnmno,™ After allowing for the cost of production under the new conditions including factory cost, i J „ A qriiTTsrr q depreciation, repairs, maintenance, dii-actors, secretarial, insurance and contingencies it is « Name in fun of Applicant ■ nth j ' 1037 estimated that there will be shown a nett profit per ton of £1 1/5 which on 2,077 tons is 1 11 ■ 11CQ Jun" XJ6U | £2,224 2/5 on a capital of £13,500 to cover: — ■ 1 n | , Reserves, say .. .. .. e .. £874 2 5 1 J Signatures of Directors — And dividends at the rate of 10 per cent. .. .. £1,350 0 0 ■ Description 1 These figures are conservative and are based on a production of forty-four tons per week, a quantity J J ' A" nT?riJT3w -r that it is believed can be materLally increased with little extra cost. ■ I)ato • • » 1 a A ^1™ I | S. ASliEfvJb 1 "The Company has the only liydrating plant in the North Island and beeanse of this and beeauso of ihe J Slgnature . * Witness to abovo signatures high quality and unique nature of the product virtually'a monopoly of the supplv to the Preezing Works ■ a " M R *m bo held bj; the Oompaajr. ....... Law cierk, Haet'unfc