Page 3 Advertisements Column 2

Nelson Evening Mail, Volume XV, Issue 199, 21 August 1880, Page 3

PROSPECTUS OB 1 THE KAIAPOI WOOLLEN MANUFACTURING COMPANY LIMITED. Capital, £100,000, in 4,000 Shares of £25 each. Tji.fP.rt f.n I*.*? • ISAAC WILSON, Esq., Chairman, G. H. BLACKWELL, Esq., E. PARNHAM, Esq., and Two to be Elected after the Allotment of New Shares. Bankers : BANK OF NEW ZEALAND. Solicitors : Messrs. GARRICK & COWLISHAW. Registered Office Chaeles-st., Kaiapoi. Tarts Company was established in July, 1878, with a Capital of £15,000, in 15 shares of £1,000 each, to carry on the business of Woollen Manufacturers, and accepted the offer of the Hon. J, T. Peacock for the purchase of the Premises and Plant of the Canterbury Spinning, Weaving, and Fibre Company, at about half its original cost, since which, considerable additions have from time to time been made to the buildings and plant, the latter now comprising four sets of Carding Engines and thirty-five Looms with necessary machinery, which with the addition of machinery just arrived, makes the plant well proportioned and very complete. The sum of £1,200 has been paid since stock-taking, for last additions to buildings and machinery just received per "Loch Awe." The Manufactory, with the addition of machinery per " Loch. Awe," though complete in itself, will not however enable the Company to meet the greatly increased demand which has arisen for their goods, although, as hitherto, continuing to rnn alarge portion of the machinery night and day, and having conclusively proved that the present heads of departments are capable of working a Mill twice the size of the present one at a saving of at least £2,000 a-year on the general working of the Company's business, they have with a view to providing extended premises and appliances, decided to increase the capital from £15,000 to £100,000, the whole to be represented by 4,000 shares of £25 each, of which the existing shareholders will be entitled to 825 fully paid up, in exchange for the shares now held by them (including the accumulated profit thereupon, amounting to £3,744); of the residue, the Directors propose to issue at present only 1,600. The increased capital will be applied to the f 0110-w ing purposes, viz : — Paying off existing mortgage of £7,400 ; enlarging present premises and plant; establishing premises in Christchurch ; and for the general purposes of the Company. The following may be enumerated among the special advantages in favor of Shareholders, viz :— The original plant was purchased at about half cost ; the staff is now well-trained and efficient, which will obviate the difficulties and avoid a repetition of the losses experienced during the first eighteen months of the Company's operations, Avhile the whole of the dead stock was cleared out previous to stocktaking, July Ist, 1880. A good and safe business has been developed, which is steadily increasing, and is capable of being worked up to a much greater extent. All the risks and expenses connected with the formation of a new Company will be avoided, and, as can be seen by a perusal of the last balance sheet, the new Shareholders will at once enter into possession of a good paying concern. The present Shareholders show their faith in the concern in the most practical manner possible by taking the amount of £3,744, (accumulated profit, equal to 16 per cent, per annum on the paid up Capital) in fully paid up shares, instead of drawing the amount which they are entitled to do. The Company now offers to investors an opportunity to develop a Colonial Industry which has established for itself a good reputation and meets with popular support, and which will, it is expected, shortly employ about 400 hands, and at the same time securing to Shareholders a good return for the capital invested. Intending Shareholders can obtain any information, with an order to view the Factory from the Directors, or on application at the office of the Company. The Share List will close on October Ist, 1880. : ' In making the allotment the Directors will take into consideration the order in which the applications are made. The sum of £1 per share will be payable on application ; £2 10s. per share on allotment ; and the balance in calls of not more than 50s. per share at intervals of not less than three months. In this manner the time for fully paying up will be extended to not less than two . years and three months. All applications with £1 per share deposit, to be forwarded to the Chairman of Directors not later than October Ist, 1880. Balance Sheet, June 30, 1880. Liabilities. £ s. d. To Paid-up Capital, viz: — 15 Shares of £1,000 each 15,000 0 0 Mortgage to the Hon J. T. Peacock ... ... 7,400 0 0 Bills Payable 40 19 2 Debts due to sundry Tradesmen ... ... 282 3 9 Interest on Mortgage, halfyear ... ... ... 333 6 0 Advances on wool shipments 700 0 0 George Ramsden (Loan) ... 658 15 O Cash due Bank New Zealand 2,124 12 1 Profit and Loss Balance ... 3,744 7 9 £50,283 17 9 Assets. & s. d. £ s. d. By Freehold Land 354 1 6 Buildings Acct. 3,993 17 8 Less depreciation 59 18 1 , 3,933 19 7 Plant Account 10,273 4 3 Less depreciation 256 16 7 10,016 7 8 Stock on hand of Wool ... 4,840 1 0 Manufactures andin process 5,924 18 7 Oil 39 17 7 Coal ... 35 0 0 Soap ... 76 0 0 Materials ... 29 0 9 Dye Goods ... 400 0 0 11,344 17 11 Sundry Debtors ... ... 3,680 2 0 Wool Shipment ex'Waimate' 510 5 7 ex'Waitangi' 411 14 4 921 19 11 Loom Cash and Petty Cash... 32 9 2 £30,283 17 9 Statement op Profit and Loss Account for Hamt-yeak ending June 30, 1880. £ s. d. To Loss on Goods sent to Syd- • ney Exhibition ... ... 71 19 8 Depreciation on Plant and ; Buildings 316 14 8 1 Repairs Account ... ... 88 4 5 Wool used in Manufacture... 3,184 6 3 Oil Account, £185 5s ; Coal, £466 4/6 ; Soap, £109 9/6 760 19 0