Page 4 Advertisements Column 2

Nelson Evening Mail, Volume XV, Issue 59, 9 March 1880, Page 4

PROSPECTUS OF ©» gJMjfarr JlMpmjj <_{ mnpttg, Jim i te 4 (To be Registered under the Joint Stock Companies' Acts.) CAPITAL: £25,000, IN 5,000 SHARES OF £5 EACH. 20s. payable on application, 20s. on allotment, and the balance in Calls of 20s. each at intervals of one month. Provisional Directors : JAMES SCLANDERS, Esq., J.P. PETER DONALD, Esq., J.P. ROBERT LEVIEN", Esq. C. CANNING-, ESQ. HENRY HOUNSELL, Esq. F. H. PICKERING, Esq. P. COOKE, Esq. W. HADDOW, Esq. General Manager : JOHN HONEYCOMB COCK, ESQ. Bankers : THE NATIONAL BANK OF NBW ZEALAND. Solicitors: Messes. ADAMS & KINGDON. The Company is started in consequence of the winding up and realization of the business of " N. Edwards and Co." of Nelson, merchants, by the widow of John Symons, Esq., the late sole proprietor of the firm. Upon the opening ofthe "V^est Coast Gloldfields in 1863 the firm of N. Edwards & Co. started aline of steamers to carry on the trade between Nelson and Westport, Grreymouth, Hokitika, and other ports on the West Coast. The trade proved a lucrative one, and, as occasion demanded, other steamers were bought aod added to the fleet, called by the firm the " Anchor Line," and the Wharf known as the Albion Wharf was bought, and a large store and office -were built thereon to csarry on the business of the said steamers, and subsequently the Foundry known as the Anchor Focn:d_.t -was erected upon two freehold-acres fronting a part of the beach near the AJbion Wharf, where the vessels can be laid up for repairs within a few feet ofthe Foundry, and the said Foundry was fitted up with the latest machinery and tools. requisite for building and repairing steamers and carrying on a general boilermaker and smith's trade. The present trade of the "Anchor Line" extends to Wellington, Wanganui, and Blenheim, and almost the entire West Coast trade has long been, and is now being, conducted by the line. The Port of Nelson being situated midway between" these ports enables the steamers to be worked to the greatest advantage from Nelson. The steamers have recently been insured in London to the extent of £12,700 at a low premium. The steamers coal themselves at Greymouth, and thereby obtain a return cargo, which enables their owners to carry on a considerable coal trade in Nelson, the goodwill of which will be assigned with the steamers to the Company, and -which can be profitably worked in connection with the Albion Wharf. With the view of retaining the trade in Nelson, and preventing the breaking up of this complete and valuble property, Mr. J. H. Cock hps entered into an agreement with Mrs. Symons foi- the transfer of all the said property to- the Company at a price, viz., £21,000, far below their actual cost, and upon which the average earnings of the concern during even the dull times of recent years show a return of over ten per cent inteiest net profits. The said agreement is printed at the end hereof for the perusal of intending shareholders, and enumerates the various valuable properties proposed to be transferred to the Company. The advantages of purchasing a going concern having a complete staff of efficient officers are too well known to need comment, and by tho agreement the Company are to take possession, and the consequent benefit ofthe profits as from tho first day of January, 1880. Mrs. Symons herself agrees to take up 500 shares in the Company. The fact that the present officers will take up between them, another 500 shares is an additional guarantee for the efficient working of the concern. The Provisional Directors will hold office until the first annual meeting of the Company, when they will retire in accordance with the Articles of Association. Copies of the Prospectus and Forms of application may be obtained from any of the branches of the National Bank of New Zealand and from Messrs. J. H. Cock & Co., merchants,, Nelson, to any of whom application for Shares may. be made up to March 20, 1880. __.'_'_! . • ii. rfi i . i ■ =sr AGREEMENT. This Agreement made this 24th day of January, 1880, between Elizabeth SymCns, of Allan Bank, the Downs, Wimbledon, Surrey, England, widow, of the one part, and John Honeycomb Cock, of the City of Nelson, in the Colony of New Zealand, merchant, hereinafter called " the said promoter," of the other part : Whereas the said Elizabeth Symons, trading as "N. Edwards and Co./' is possessed of a fleet of steamers known as the " Anchor Line," belonging to the Port of Nelson, and trading in Cook's Straits and the West Coast of New Zealand, and of a Foundry known as the v Anchor Foundry/.' and of a wharf known as the " Albion Wharf," and other property in connection with tho foregoing premises, all situated in the Port of Nelson; and whereas the said promoter, instructed by the said Elizabeth Symons, is desirous of floating a Joint Stock Company to purchase the above-mentioned Steamers, Foundry, Wharf, and Premises from the said Elizabeth Symons, and -to carry on the trade with them hitherto carried on by the said Elizabeth Symons, and the said Elizabeth Symons has agreed to further the said object, and for the consideration hereinafter mentioned to transfer the premises to a Company so soon as it shall be duly registered upon the terms hereinafter mentioned. Now this agreement witnesseth that each of them, the said Elizabeth Symons and the said J. H. Cock, as such promoter, doth hereby mutually agree, the one with the othor of them, in manner following:, that is to say— • 1. That the said promoter shall forthwith proceed to form, float, and duly register in New Zealand a Joint Stock Company under the "Joint Stock Companies Act," to be called " The Anchor Steam Shipping Company, Limited." 2. The registered office ofthe said Company shall be in tbe said City of Nelson 3. The objects for which the Company is to be established sball be the purchase from the said Elizabeth Symons. of the Anchor Line of Steamers, Anchor Foundry, and Albion Wharf, and other property, and the carrying on of the businesses of shipowners, shipbuilders, engineers, and general smiths, wharfingers, and coal merchants, at and from the Port of Nelson. 4. The liability of the members of the said Company shall be limited. 5. The capital ofthe said Company shall be £25,000, in 5000 shares of £5 each/ whereof the said Elizabeth Symons agrees to take up 500 shares. 6. That from the 31st December, 1879, until the complete formation and registration of the aaid Company, the said Elizabeth Symons shall keep the business of the said steamers, foundry, wharf, and premises distinct and separate from her other businesses, and shall keep separate accounts of all the payments and receipts, and transactions thereof. 7. That upon the complete formation, and registration of the said Company, and upon receiving from the said Company the sum of £21,000 and interest thereon at the rate of £7 per cent per annum from the 31st December last until payment, the said Elizabeth Symons shall convey, assign, and transfer to the said Company the following properties, viz., Four Steamers, called the " Charles Edward," " Kennedy," " Murray," and "Wallace," and the hulk " Hera," all ofthe Port of Nelson, and all the gear, fittings, and appurtenances thereunto belonging; The Lease, dated 30th day of May, 1873, from the Crown to Jonathan Livick, subsequently assigned to John Symons, Esq., late of Nelson, deceased, ofthe Albion Wharf, for 12 years, from the Ist day of January, 1873, at the yearly rent of £80, paid np to the Ist day of January, 1880, and all the buildings and working plant thereunto belonging, including the Telegraph plapt, subject to an agreement to employ the said Jonathan Livick as wharfinger during the currency of the said lease, at a salary of £240 per annum ; The Anchor Foundry, comprising freehold sections 3 1 and 32, City of Nelson, having a frontage to tbe Haven Road of 264 feet, and all the buildings, engines, and working plant thereunto belonging; The Goodwill ofthe coaling and wharfiDger's business heretofore carried on in connection with the said properties; All the said steamers, foundry, wharf, and premises are sold as they stood on the Ist January, 1880, and as if they had been delivered on that day. 8. The Company shall have the benefit of all the profits made by the said steamers, foundry, and wharf j since the 31st December last, and shall pay all the expenses and outlay connected therewith, including a j proportion of the insurance. 9. The Company shall also forthwith pay to the said Elizabeth Symons for all the coal, material, and stock-in-trade (other than the working plant) belonging to the said steamers, foundry, and wharf, according to the valuation thereof made on behalf of the said Elizabeth Symons at the - stock-taking about the Ist day of January, 1880. Provided that if the said promoter shall not float and register the said Company, before the 30th June, 1880, this agreement shall thereupon become null and void. In witness whereof the Hon. N. Edwards, acting under and by virtue of a power of attorney, dated the 21st day of May, 1879, under the hand and seal ofthe said Elizabeth Symons, has hereunto subscribed the name of the said Elizabeth Symons, and the said John Honeycomb Cock has also hereunto subscribed his name, t-ie day, and year firs* before written.