BE SURE!

Hokitika Guardian, 20 July 1921, Page 2

BE SURE!

‘MORTGAGE” DEBENTURES

The leading business journal of the Dominion, “The Mercantile Gazette, has this to say concerning the unique advantages of “mortgage” debentures, such us those issued by the Gisborne Sheepfarmers’ Frozen Meat and Mercantile Co., Ltd.: “A mortgage debenture should bie secured by a trust deed giving it a definite mortgage on the real property of the company. Where specific assets are pledged supported by sound valuations an investor has a guarantee as to repayment of his principal. He is assured,' too, that the security cannot be pledged to other creditors or his margin weakened for the benefit of ordinary trade creditors which is the case with a bond or ‘naked’ deben-

ture.” Investors in the 7} per cent. Mortgage Debenture Issue of the Gisborne Sheepfarmers’ Frozen Meat Company are protected in this manner. The £3OO 000 issue is secured by first mortgage of properties and plant conservatively valued at £6ls,263—that is, over £2 for every £1 invited from investors. The trustee for the Deben-ture-holders is the N.Z. Insurance 00., Ltd., Auckland. Read full particulars of this sound and profitable investment. Debentures are in sums of £SO, £IOO, £SOO, and £IOOO, currency ten years. Interest, 71 per cent, per annum, payable half-yearly, free of debenture tax. Get prospectus from the Bank of New Zealand, or any member of the Stock Exchangej, or from the Company’s broker, Mr W. Lissant Clayton, Gisborne, or the Company’s Office, Gisborne. *