Page 4 Advertisements Column 4

New Zealand Times, Volume XXXI, Issue 4799, 9 August 1876, Page 4

-Public Companies P R O S. P. E C T U S OF THE EMPIRE GASCONSUMERS COMPANY, (LIMITED). To be Incorporated under the Jomt Stock Companies Acts. , CAPITAL, £30,000, IN 30,000 SHARES OF £1 EACH. FIRST ISSUE, 20,000 SHAKES. 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. B. Cattell Lewis Moss R. P. Collins W. Nicholson B. Cohen ' J. Petford Sami. Banks Geo. Roxburgh John Duff J. B. Richardson W. Fife J. Staples _ J. E. Hayes James Smith Harry Hall Jos. Saunders Wm. Jameson E. Stafford Wm, 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. IBM.: 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 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 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; Bate of last dl- ‘ Price of coal Price of gas vfdcnc! paid City per ton. per 1000. shareholders. Auckland 355. to 40a; 10s, . 15 per cent. Christchurch 425. 6d. I2s. 6d. 15 per cent. Dunedin . 3Gs. 12s. 6d. never yet dcld. "Wellington 355. 14s. 12} 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 have had the following statements prepared, for the practical accuracy of which they can vouch. Estimated Cost op Works. £ s. d. General plant, holder, &c 7,450 0 0 Mains, syphons, valves, &c 3,807 0 0 Erection of plant, setting retorts, &o. 2,150 0 0 Buildings and land 2,000 0 0 : Meters and services .. .. .. 1,000 0 O Preliminary expenses 500 0 0 I Total £16,907 0 0 I With a further expenditure of £6OOO the above [ works can produce no less than thirty million i feet of gas per annum. | Estimated Profit and Loss Account. wvDWVTnrri'rroT' I 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 Office expenses (including collection of accounts) .. 500 0 0 £OOO2 0 0 Balance of net profit—being over 14J per cent, on the cost of construction 2518 0 0 Total RECEIPTS. 15,288,000 cubic feet of gas, at Ida. per 1000 feet ' 024 tons coke, at 30s. per ton .. 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 contree 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 are applied for, a meeting will be called for the election of directors and the registration of the company. Steps will also then be taken to get tbe necessary Act passed by the General Assembly, and power will he taken therein to soil 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 ho received at tbe Bank of New Zealand, where prospectuses and forms of application may be had j the latter may also be obtained from any of the Provisional Directors, the Company’s Solicitors, or the Honorary Treasurer. Money £BSBO 0 0 £7044 0 0 936 0 0 THE NEW ZEALAND TRUST AND LOAN COMPANY (Limited). £IOO,OOO to he advanced on security of freehold land, or of freehold combined with stock. The rate of interest will vary with the amount of the loan. Apply to LEVIN & CO. M O N E Y T O LEND. Several sums of Money for Investment} on Freehold- or Leasehold Securities. MOORHOUSE & STAFFORD, ■ Solicitors, Wellington.