AN EXTENSIVE UNDERTAKING.

Manawatu Standard, Volume 4, Issue 134, 14 May 1883, Page 2

AN EXTENSIVE UNDERTAKING.

We le fn on good auoliority that the arrangements are all but complete lor the amalgamation of the business firms of Messrs Freeman R. Jackson, of Wanganui, and STKVflys & Gorton, of Bulls, m the iorm of a limited liability conpany, with a capital of £50,000/ The shares will be £5 each, of which it is expected that not more than £3 will be required to be called op. The whole of the -yards, premises, imd good-will of the two firms will be sold to the company, •' nd the managing directors will be Messrs Jackson.Stevens and Gorton, to the last named gentlemau being entrusted the entire financial management. Mr Jackson will officiate as knight ct the hammer m W*nganui, and the districts to. the north, while jVt r Stevens will act m Rangitikei and Mtinawatu, Colonel Uorton also selling on ppecial occasions. Shareholders are guaranteed, 12£ per cent, interest for 2 years, and the services of the managing directors will be given on very moderate terms. Already nearly 8000 shares oub of the 10,000 are taken up, so that the proposal is virtually floated. The payments will be-53 per share on application, 10s on allotment, and 5s at intervals of not less 3 months, until the required amount is paid up. An opportunity now offers .to the settleis to t*ke tip shares, as the directory would prefer to dispose ot them m the district to offering them elsewhere. We may^ state that no liabilities wnatever m connection with either firm are taken over by tho companvj which will start operations on an entirely independent basis, and uudec such favourable auspices as seldom attend the floating of a similar project anywhere. Two better or more extensive businesses than those about to be amalgamated do not exist on the West Coast, and their combination, with the immense capital at the command of the Company, and under the experienced and careful management of such com» petent men as the managing directors, operations will be conducted, on such a greatly extended scale, and with such resources that will practically shut out any opposition. The experience of years, and the ramifications of two made businesses with a practically unlimited capital, will ensure certain success, as evidenced m prospective By the fact that some of the shareholders have invested ■ \a sums equivalent to £5,000 each. We congratulate, the promoters and those interested on the success already achieved, which we regard as an auspicious augury ot the future business career of the new undertaking.