10 PERCENT MORTGAGE DEBENTURES.

Hokitika Guardian, 25 June 1923, Page 2

10 PERCENT MORTGAGE DEBENTURES.

REMARKABLE INVESTMENT OFFER. X.Z. BREWERIES LIMITED. It is sometimes assumed that the label debenture or bond has a special kind of sanctity, but this is not so unless it is secured by a Trust Deed giving it a definite mortgage on the property of the Company.

In the case of Now Zealand Breweries limited, which is offering £1,000,000 Ten per cent. First Mortgage Debenture Stock to the public, there are present all the attributes of a first-class investment.

The Issue is secured by a. Trust Deed in favour of the New Zealand Insurance Co., Ltd. (ns Trustee tor the Debenture Stockholders) constituting a first specific charge on the freehold property of the Company, and a first floating charge on all its assets and undertakings. Payment of interest for three vests will he guaranteed by the N.Z. Insurance Co., Ltd., with whom will be deposited securities for .€3-15,000 m support of the guarantee. Another attractive feature of the investment is that interest will be payable quarterly, free of exchange and free of income tax, ns provided in the prospectus. Tho Company has been formed to purchase ton of the largest and most successful brewery businesses in the Dominion.

The opportunity now afforded the public to secure a real financial interest in the brewing industry has attracted much attention. Those who desire to participate should make piompt application, as it is more than likely that the issue will close at early moment.

The prospectus may be obtained front, and applications for debontuics may be made to, any member of a Sttxck Exchange affiliated to the Stock Exchange Association of N.Z., the local Banks. Offices i f any of the Vendor Companies, or the Interim Secretary. Accountants’ Chambers, 39 Johnston Sgecij Wellington-—*