Page 3 Advertisements Column 2

New Zealand Times, Volume XXXI, Issue 4795, 4 August 1876, Page 3

Public Com-paaues PROS P E C T u s , OK THE EMPIRE GAS CONSUMERS COMPANY, (LIMITED), . To be Incorporated under the Joint Stock Companies Acta. CAPITAL, £30,000, IN 30,000 SHARES OF , £1 EACH. EIRST ISSUE, 20,000 SHARES. Payments— One shilling on application; two shillings on allotment; two shillings two months after allotment; and the balance by With power to add to their number. bankers: The Bank of New Zealand. SOLICITOUS ; Messrs. Moorhouse & Stafford. TEMPORARY OFFICES : Temple Chambers, Wellington. HON. SECRETARY AND TREASURER, PRO. TEM.’. James Stewart. This company is formed for the manufacture and production of inflammable air or gas from coal or other material, and the supplying of the same to the city of Wellington and its suburbs, and for lighting the same city and suburb's, or for any other purpose to which such air or gas is or shall be applicable, and also the manufacture and preparation for sale of coke and other products incidental to the manufacture of such air or gas as the directors of the company shall from time to time determine. It has long been felt by a large number of the residents of the city that the policy pursued by the only gas company existent in this city has not had the effect of giving the citizens cheap gas. The recent failure of the Corporation of the City of Wellington to* purchase the works of the Wellington Gas Company, in consequence of the company demanding an advance of over 75 per cent, on the par value of their share capital, has led to the establishment of this company. The directors have been at some pains to obtain particulars as to the operations^of the gas companies in the other principal cities of the colony. The result is detailed below, and conclusively proves that although there is no city in New Zealand so well adapted for being economically lighted by gas as Wellington, the loss by leakage being reduced to a minimum, there is no city in New Zealand where the price is so exorbitant. Kate of last diPrice of coal Price of gas vldendpaid City per ton. per 1000. shareholders. Auckland —lO s. 15 per cent. Christchurch 425. «d. 12s, 6d. 16 per cent. Dunedin 365. 12s. 6d. never yet dold. Wellington 355. 14s. 12Jr per cent. The promoters of this company, from their practical knowledge, are justified in _ saying that gas should be supplied to the citizens of Wellington at 10s. per 1000 cubic feet. The present prices in Melbourne, with coal and labor at Wellington rates, are ss. 10d., 7s. 6d., | and 10s. per 1000 cubic feet, while Wellington’s is no less than 20s. per 1000 cubic feet, reducible to 14s. per 1000 if paid within an arbitrary fixed period of seven days from the delivery of the account. The provisional directors have received from a large number of consumers an undertaking that they will use the company’s gas only for at least two years from their being prepared to , supply the same ; in return, the directors will be enabled to offer the following important benefits; — Ist. That the price of the gas shall not exceed 10s. per 1000 cubic feet. 2nd. That no charge shall be made for the meters supplied by the company, nor rent demanded as at present. 3rd. That day and night meters shall .be supplied, so that the gas may be used for manufacturing and domestic purposes during the day at a lower rate than 10s. per 1000 cubic feet. With a view of showing that these great advantages can be obtained, and a large dividend paid on the capital invested, the directors lhave' had .the following statements prepared, for the practical accuracy of which they can vouch. Estimated Cost of Works. General plant, holder, &o. .. .. 7,460 0 Mains, syphons, valves, &c 3,867 0 Erection of plant, setting retorts, 4sc. 2,150 0 Buildings and land .. .. .. 2,000 0 Meters and services ~ , .. .. 1,000 0 Preliminary expenses .. .. ■ ... 800 0 Total £16.907 0 0 With a further expenditure of £6OOO the above, works can produce np less than thirty million feet of gas per annum. Estimated Profit and Loss Account. EXPENDITURE. 1820 tons coal, at 355. .. , .. .. £3185 0 0 Wages—Foreman, stokers, laborers, and service layer .. . .. 1877 0 0 Lime and stores 800 0 0 Office expenses (including collection of accounts) .. i.. ; ■.. .. • * 800 0 0 £BOO2 0 0 Balance of net profit-being over 14} per cent, on the cost of construction 2518 0 0 Total .. .. .. .. £BSBO 0 0 RECEIPTS. 15,288,000 cubic feet of gas, at 10s. per 1000 feet £7044 0 0 624 tone coke, at 30s. per ton .. .. 036 0 0 Total .. .. . • ■ • £BSBO 0 0 With the rapidly increasing population of the city and the consequent erection of dwell-ing-houses and business premises, the directors feel that there is ample room for a new gas company, prepared to construct their works and lay their services on the new and economical principles now ohtaining in the large centree of population elsewhere, and whose motto will be “ economy in management, excellence in manufacture, reasonable profits, and cheap and good gas for the people.” With these views they confidently appeal to the citizens of Wellington to support them in their efforts to relieve them from the oppression of a monopoly, and to cheapen that great blessing—light. As soon as 16,000 shares ore applied for, a meeting will he called for the election of directors and the registration of the company. Steps will also then be taken to: get the necessary Act passed by the General Assembly, and power will be taken therein to sell the works to the Corporation of the city of Wellington, should they so desire it, at a small per centage on the cost of construction. Applications for shares, accompanied, by the deposit fee of one shilling per share, will be received at the Bank of! New Zealand, where prospectuses and forms of application may be had ; the latter may also bo obtained from any of the Provisional Directors, the Company’s Solicitors; or the Honorary Treasurer. Business Notices R OWLANDS AND C 0,, Underneath the Illuminated Clock. ■ All work entrusted to our care is executed on ,the premises , and guaranteed for twelve months.' All new, watches guaranteed for three years. Goods packed and sent on receipt of cash or post-office order to any part of the,colony.- / ■ ROWLANDS & CO., Under the Illuminated Clock, Willis-atreot.