Page 3 Advertisements Column 5

New Zealand Times, Volume XXXII, Issue 5161, 6 October 1877, Page 3

Meetings THE WELLINGTON WORKING HEN’S CLUB, TARANAKI PLACE. A Special General Meeting of members will be held at the Wellington Fire Brigade Hall, Manners-street, on MONDAY EVENING next, the Bth OCTOBER, at eight o’clock sharp, for the purpose of Electing two Auditors, receiving Progress Report, and generally to discuss all matters affecting the welfare of the Club. All friends of the movement are cordially invited to attend. By order. V. CL ARID GE, Secretary. NOTICE. —A General Meeting of Members of the Wellington TEMPERANCE SOCIETY will be held at the Provincial Buildings on MONDAY EVENING NEXT, Bth inst., at 8 o’clock. CHAS. P. POWLES, Hon. Secretary. Wellington, sth October, 1877. To Let TO LET ON LEASE, Acre No.. 282 Cambridge Terrace. This acre has been conveniently laid out in building allotments, and will be leased on easy terms. Apply to SAMUEL PARKES, Land Agent, Dixon-street. o FFICES TO LET at the Chamber of Commerce Buildings, Lambton-quay. S. CARROLL. TO LET, furnished, a 7-roomed House, with bathroom and pantry. Pleasant, dry, and central. Apply, A. 8., office of this paper. For Sale FOR SALE—A 16 horse-power horizontal steam-engine. Can be seen at work at Greenfield and Stewart’s Steam Sawmill. FOR SALE—One 10 horse-power Portable Engine, with intermediate shaft, saw spindle, belting, &c. Also, one pair of ’anker wheels, Sft. high and sin. arras, and everything necessary to commence a small sawmill. The whole in good repair. For further particulars, apply to Mr. D. Robertson, Phcenix Foundry, Wellington ; or to McGREGOR BROTHERS, Masterton. Public Companies PROSPECTUS or THE LION FOUNDRY AND ENGINEERING COMPANY (LIMITED.) Capital, £50,000. In 5000 Shares of £lO each. PROVISIONAL DIRECTORS : Dr. Buller, O.M.G. (Messrs. Buller & Lewis) R. J. Duncan, Esq., J.P. J. R. George, Esq., C.E. R. Greenfield, Esq. (Messrs. Greenfield and Stewart) J. Henderson, Esq. (Messrs. Brogden & Sons) F. A. Krull, Esq. (Messrs. Krull and Co.) E. W. Mills, Esq. J. S. M. Thompson, Esq. (Messrs. Thompson, Shannon, and Co.) W. T. L. Travers, Esq., M.H.R. (Messrs. Travers, Ollivier and Co.) J. F. E. Wright, Esq., J.P. Andrew Young, Esq. Solicitors : Messrs. Buller and Lewis Bankers : Bank of New Zealand. Brokers : Messrs. Zohrab, Knocker, and Co. This company has been projected for the purpose of buying, and afterwards carrying on, the business of Mr. E. W. Mills’s Lion Foundry and Engineering Works. The property consists of the following: 1. The freehold, being sections 149, 150, 151, and 152, of the reclaimed land, having frontages of 130 ft. to "Waring Taylor-street, and 85ft. to Custom-House-quay, together with the buildings erected thereon. 2. The leasehold, being sections 14G, 147, and 148, of the reclaimed laud, having a frontage of 66ft. lOin. to Waring Taylor-street, and 85ft. 7in. to Feather-ston-street. The lease has a currency of thirty-eight years, at a total annual rental of £49 9s. fid. for the first seventeen years, and an increase of 50 per cent, for the remaining twenty-one years. 3. The whole of the plant, including engines, machinery, tools, &c., and the goodwill of the business.

The whole of the property, as above described, is to be purchased by the company for the sum of £25,000, half the purchase money to be paid in cash, on receipt of which sum the business will be handed over to the company. The balance of the purchase money can be paid at any time within ten years, and is to bear interest at the low rate of 7 per cent, per annum until paid off. It is proposed to allot only 4000 shares at present, and to beep in reserve the balance of 1000, and to call up £4 per share on the shares allotted as follows, viz.:—los. per share on application ; 10s. on allotment ; and three calls of 20s. per share at intervals of not less than two months, and the balance (if required) after an interval of three or four years in calls not exceeding 20s. per share, nor at less intervals than three months. The sum realised by the calling up of £4 per share will be sufficient to pay the half of the purchase-money, and to allow an ample balance for working capital for carrying on the business. The reasons that have induced Mr-. Mills to part with this valuable property are:—l. The great aud rapid increase in the two branches of his business, rendering the personal superintendence of both almost an impossibility. 2. His intended absence from the colony on a visit to Europe. It is anticipated that in two or three years’ time the value of the land will he so greatly increased as to render desirable the removal of the buildings to some suitable site elsewhere, aud the sale of the present site. The sum realised by such sale will probably equal the whole amount now required for the purchase of the entire property. The advantages of entering into possession of a business in actual operation, with a large stall of trained workmen, and with a most valuable business connection, are most important, and cannot be over-estimated. The business is capable of profitable development to almost any extent, the resources of the establishment being equal to any demand likely to occur for many years ; and when owned by a large and influential body of shareholders, each having a direct interest in the extension of its operations, must of necessity become much more valuable than when carried on by one person only. A verified statement of the working of the business and of the profit realised during the last twelve months, ending 30th Juae, has been prepared, which shows a net profit of £5158 15s. Bd., which statement can be inspected by intending shareholders. It will, therefore, he seen that the business is of a highly profitable character, and certain to yield a large and immediate return in the shape of handsome dividends on the capital employed, and that the future prospects of the company are of a most promising nature. Such portion of the stock in the foundry, at the time of entering into possession, as the company desire to take over, will be taken at a valuation, and paid for on the usual terms. Contracts in progress at the time of taking over the business to be taken at the valuation, so that profitable work is at once ensured to the company. The indentures of the apprentices will be transferred to the company, thus securing a large amount of skilled labor at a very low rate. Erom the foregoing, it will be seen that as soon as the company is formed and registered, a profitable business will at once he entered upon, thus affording an outlet for capital of a far more favorable character than any yet offered in New Zealand. The share list will close on Saturday, 20th October, 1577. Eovma of application for shares can he obtained at the offices of Mr. E. W. Mills, Messrs. Zohrah, Knocker, and Co., and at the various branches of the Bank «f New Zealand.