Page 11 Advertisements Column 3

Free Lance, Volume IV, Issue 209, 2 July 1904, Page 11

SOLICITOR.

J. J. Devine, 16, Brandon Street, Wellington

, Wellington.

With more accommodation available, which the addition of another storey will give, coupled with the large economies which can undoubtedly be effected under the consolidation, the net profits should be increased by fully 50 per cent. Receipts of " The Mansions." The receipts of " The Mansions " amounted for the past eight months to £2134 195., and the expenditure to £1621 16s. 9d., leaving a surplus of £513 2s. 3d. It must be borne in mind that the house is a new one, opened on the Ist August, 1903, and that these figures represent the returns for the period in which the house was started, and before it can be said to have been in full working order. The following is a copy of Messrs. Badham and Biss's report : — " Wellington, April Bfch, 1904. " We certify that, having examined the books in connection with the establishment known as "The Mansions," Ghuznee Street, Wellington, we find the receipts for the past eight months, from August Ist, 1903, to March 31st, 1904, amounted to £2134 195., and the expenditure to £1621 16s. 9d., leaving a surplus of £513 2s. 3d., but in the above figures no amount has been included for interest on capital invested in the business. " Badham and Biss, " Professional Accountants." Receipts of the " Bellevue Hotel and Gardens." The receipts of the " Bellevue Hotel and Gardens " from Ist January, 1902, to 29th February, 1904, amounted to £10,221 os. 4d., while the expenditure was £8,545 7s. 7d., leaving a surplus of £1,675 12s. 9d. During this period 52,103 visitors paid £1,302 115.6 d. for admission to the grounds, and £416 9s. was realised for flowers. In the expenditure is included the sum of £1,609 10s. 10d., which is an extra outlay incurred in repairs, upkeep, and generally improving the property. THE VALUES OF THE PROPERTIES. As to the values of the three properties, reports on this point have been obtained from the leading valuers of the city, men who are well known in Wellington for their absolutely unbiassed judgment, skill, and experience in this class of business for a long period of years, and generally their " bed-rock" valuations. The whole of these three properties have been carefully valued, and there is no doubt that if sold in the open market to-day they would realise considerably higher prices. Moreover, from the fact that business in Wellington is expanding enormously and that the values of these three properties must increase proportionatel yyear by year, it will be admitted by everyone that the possibilities of the Company must be very great indeed, and that its earning facilities, which are already so high, must be materially enhanced in the immediate future. Early application for shares is invited, and should be forwarded to the brokers, accompanied by a cheque for £1 on each share as application money. Copies of the Prospectus may be obtained from the several brokers of the Company, or the vendor. The vendor (Mr. Herrman Lewis), or the local brokers will be glad to show intending shareholders over any of the properties, and to give any further information desired.