A Notable Undertaking.

Free Lance, Volume IV, Issue 209, 2 July 1904, Page 14

A Notable Undertaking.

By advei tisement appealing elsewhere in this issue, it is notified that a company will be formed to acquire three of the finest properties- in, the distnot, comprising the Empire Hotel, in Wil-lis-street, "The Mansions," m Ghuznee>street, and the famous Bellevne Gardens and hotel, at the Lower Hutt, the three propertieb and. businesses to be run under the style of "The Empne, Bellevue, and Mansions Consolidation, Limited." Mr. Herrman Lewis, the vendor, contracts with the purchaser company to sell the thiee properties for £130,000, of which the vendor receives £55,000 cash, and 4000 fully-paid-up shares, £55,000 to remain on fixed mortgage. • • # The fact that local companies have advanced £55,000 on fixed mortgage is an undoubted proof of the soundness of the securities offeied. A glance at the properties themselves will convince prospective shareholders of the potentialities of the Empire Hotel, expert accountants having certified, by theii examination of the hotel books, that since the first year of building the profits have doubled. The present i ate^ of profits on the Empire Hotel alone represents in itself over 8 per cent, oru the entire capital of the consolidation, not including the other two magnificent properties in the consolidation. • * * Of the famous Bellevue Gardens, it need only be said that they a/re the premier attraction to visitors to Wellington, and are extremely beautiful, the hotel in connection therewith being a very fine one. The property, as well as The Mansions, shows a most satisfactoiy increase of profits. Shortly, the abridged prospectus in this issue is worthy of close consideration and thought by investors, who do not require to be told that investment in a company holding three of the "best things" in the district would be most remunerative. It is believed that the public will be eager to take up the shares, andl they are therefore advised to be in good time, in order to be among the fortunate share-holders. There is not the slightest doubt that the capital required will be largely over-subscribed, so that those who are earliest with their applications are most likely to succeed.