Page 4 Advertisements Column 5

New Zealand Times, Volume XXXII, Issue 5163, 9 October 1877, Page 4

Insurance Companies ri LOBE MARINE INSURANCE COMIJT FANY (LIMITED.) CAPITAL £500,000. Head Office : London. Risks on merchandise and steamers to all parts of the world taken at lowest current rates. Losses promptly paid in 'Wellington, London, or any of the numerous agencies. LEVIN & CO., Agents. nnPwANSATLANTIC FIRE INSURANCE J. COMPANY OF HAMBURG. THE above Company is prepared to accept risks in town and country at lowest current rates. WHITTEM, NICHOLSON, & CO., Agents. ORTH BRITISH & MERCANTILE INSURANCE CO. OF LONDON AND EDINBURGH. Established 1809. Capital, £2,000,0000. Fike Reserve, £1,002,768. The undersigned have been appointed the Company’s Agents, and are authorised to insure against fire on favorable terms. MURRAY, COMMON, AND CO., Agents. Australian mutual provident society. Established in the year 1549. FOR MUTUAL LIFE ASSURANCE. NEW ZEALAND BRANCH: HEAD OFFICE—WELLINGTON. The Annual Revenue exceeds £-170,000. The Accumulated Fund now exceeds£2,ooo,ooo. The Society has paid to representatives of deceased members upwards of £700,000. The Society has divided amongst its members £412,000, yieldiug reversionary bonus additions, amounting to £910,000. The New Business for the year 1876 was 4559 Policies, assuring £1,652,575, producing a new annual revenue of £56,300. Persons assuring in this office share the whole profits, and a bonus is declared every fifth year. The annual report, prospectuses, and proposal forms may be had (or will be sent post free), on application to the Branch Uffice, or to any of the Society’s Agents. EDWARD W. LOWE, Resident Secretary. Public Companies Prospectus OF THE LION FOUNDRY AND ENGINEERING COMPANY (LIMITED.) Capital, £50,000. In 5000 Shares of £lO each. PROVISIONAL DIRECTORS : Dr. Buller, C.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. ICrull 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 Oustora-House-quay, together with the buildings erected thereon. 2. The leasehold, being sections 146, 147, and 148, of the reclaimed land, having a frontage of 66ft. lOin. to Waring Taylor-street, and 85ft. 7in. to Eeather-ston-street. The lease has a currency of thirty-eight years, at a total annual rental of £49 9s. 6d. 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 yearn, 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 keep in reserve the balance of 1000, and to call up £4 per share on the shaves 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 callmg up of £4 per share will be sufficient to pay the halt 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 Sreat and 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 laud will be so greatly increased as to render desirable the removal of the buildings to some suitable site elsewhere, and 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 euteiing into possession of a business in actual operation, with a large staff 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 mouths, ending 30th June, has been prepared, which shows a net profit of £5158 15s. Bd., which statement can be inspected by intending shareholders. It will, therefore, be seen that the business is of a highly profitable character, and certain to yield a large and immediate return iu the shape of handsome dividends on the capital employed, and that the future prospects of the company aro 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. From the foregoing, it will be seen that as soon as the company is formed and registered, a profitable business will at once be entered upon, thus affording an outlet for capital of a far more favorable character than any yet offered iu New Zealand. The share list will close on Saturday, 20th October, 1877. Forms of application for shares can lie obtained at the offices of Mr. E. W. Mills, Messrs. Zohrab, Knocker, and Co., and .at the various branches of the Bank of New Zealand.