Page 3 Advertisements Column 4

New Zealand Times, Volume XXXI, Issue 4797, 7 August 1876, Page 3

Meetings IHE FEATHERSTON MEMORIAL Will be held on WEDNESDAY EVENING NEXT, At the ODD FELLOWS' HALL, At 8 o'clock, To receive the Report of the Committee. His Worship the Mayc Public Comuanies PROSPECTUS OF THE EMPIRE GAS CONSUMERS COMPANY, (LIMITED). To be Incorporated under the Joint Stock Companies Acts. CAPITAL, £30,000, IN 30,000 SHARES OF £1 EACH. FIRST ISSUE, 20,000 SHARES. Payments—One shilling on application ; two shillings on allotment; two shillings two months after allotment; and the balance by six calls of two shillings and sixpence each, at four, six, eight, ten, twelve, and fourteen months after allotment PROVISIONAL DIRECTORS. S. W. Alcorn Jas. Laurie F. Atchison Robt. Miller J. R. Blair Henry Mace J. R. Brown T. K. Macdonald C. Brown T. J. Mountain J. E. Cattell Lewis Moss R. P. Collins W. Nicholson B. Cohen J. Petford Saml. Dauks Geo. Roxburgh John Duff J. B. Richardson W. Fife J. Staples J. E. Hayes James Smith Harry Hall Jos. Saunders Wm. Jameson E. Stafford Win." James W. Tinney F. G. Johns W. Tustin C. A. Knigge With power to add to their number. bankers : The Bank of New Zealand. solicitors •: 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 suburbs, 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 lanufacture of such air or gas as the directors f the company shall from time to time deterline. 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 ii,:„ -" !™s not had the effect of giving the ciwseua cneap gas. The recent failure of the Corporation of the City of Wellington to purchase the works of the Wellington Gas Company, in consequence anding an advance of „,„ , „ FUi „,„„. ™ 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 diTrice of coal Trice of gas vidend paid Wellington 355. 14s. 12A 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. 1 Od., 7s. 6d., and 10s. per 1000 cubic feet, while Wellington's is no less thau 20s. per 1000 cubic feet, reducible to lis. per 1000 if paid within an arbitrary fixed period of seven days from the delivery of the account. The provisional directors have received from , 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 bo 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 lied by the company, .anded 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 have had the following statements prepared, for the practical accuracy of which they can vouch. . Estimated Cost of Works. £ s. d. ill plant, holder, tec 7,450 0 0 ;, syphons, valves, Ac. .. .. 3.507 0 0 Meters and services Preliminfuy expenses Total £10,007 0 0 I With a further expenditure of £6OOO the above | works can produce no less than thirty million feet of gas per annum. Estimated Profit and Loss Account, expenditure. 1820 tons coal, at 35s £3185 0 0 Wages—Foreman, stokers, laborers, and service layer 1877 0 0 Lime and stores 500 0 0 Oilice expenses (including collection of i £0062 0 0 Balance of net profit—being over 14f per cent, on the cost of construction 2518 0 0 ,000 co 1000 feet £7IH4 0 0 021 tons 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 obtaining 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 effor sion of a n>„^ L ,~.j , L - — - 0 blessing—light. As soon as 19,000 shares are applied for, a meeting will be called for the election of directors and the registration of the company. Steps will also then bo taken to get the necessary Act passed by the General Assembly, and power will be taken theroin to sell the I works to the Corporation of the city of Wellington, should they so debiro it, at a small per j centage on the cost of construction. Applications for shares, accompanied by the deposit fee of oue shilling per share, will be received at the Bank of New Zealand, *">■<>■•» prospectuses and forms of application had ; the latter may also be obtained from any of the Provisional Directors, the Company's Solicitors, or the Honorary Treasurer.