Page 3 Advertisements Column 6

New Zealand Times, Volume XXXIII, Issue 5502, 14 November 1878, Page 3

■Prospectus B 0 S P E 0 T.,U. S KEMPTUOKNE, PROSSER, .& CO., NEW ZEALAND DRUG COMPANY (LIMITED). Head Office—Dunedin. To be incorporated under , the Joint Stock ~ Companies Act, 1860. ' ' CAPITAL £200,000, In 100,000 shares of £2 each, with power r to increase. Of these, 50,000 shares only are now offered , to the public, upon which it is intended' to call" up 20s. per share, as follows:—Deposit pay-’ able on application, ss. per share ; on; allotment, 5s per share; os. per share three month's after allotment, and ss. per share sis months after allotment. Should the Directors deem it advisable to make any further call, three calendar month*’ notice of any such call will bo given; : ‘ 25,000 shares, fully paid up, are to die t&keu by Messrs. Kempthorne, Prosser, and Co., the remaining 25,000 shares being reserved for future issue, as may be determined by the Directors. Provisional Directors : Robert Borrows, Esq., M.D., Dunedin J. G. Black, Esq., Professor of Chemistry, Otago University ... Henry Houghton, Esq., Merchant, Dunedin E. C. Batchelor, Esq., M.R.C.S., Dunedin Benjamin Eagle r, Esq., Chemist, Dunedin T. S. Graham, Esq., Merchant, Dunedin A. J. Fjskgusson, Esq., M.D., Dunedin E. A. Low, Esq., Merchant, Dunedin B. Hallenstein, Esq., Merchant, Dunedin , f - T. M. Wilkinson, Esq., Chemist, Dunedin William Brown, Esq., M. 8., Dunedin. 'v M. Marshall, Esq., Chemist, Dunedin ' ‘ Basil Sibvwright, Esq., Solicitor, Dunedin ~ E. S. Raymond, Esq., Chemist, Dunedin •; C. A. Anning, Esq., Esq., Chemist, Dunedin Robert Wilson, Esq., Merchant. Dunedin Wli. Elder, Esq., Chemist, Port Chalmers G. .1. Jeffery, Esq., Chemist, Lawrence J. Harrop, Esq., Chemist, Lawrence J. V. Ross, Esq,, Chemist, Christchurch G. Bonnikgton, Esq., Chemist, Christchurch Joseph Hatch, Esq., Chemist, Invercargill J. D. Hayes, Esq., Chemist, Invercargill, ’ '. E. G. Lane, Esq., Chemist, Oamaru H. J. O. Edwards, Esq., Chemist, Oamaru Dr. Mclntyre, Timaru K. Watkins, .Esq., Chemist, Timaru E. S. Cook, Esq., Chemist, Timaru ■ ■■■• C. D. Barradd, Esq., Chemist, Wellington ~ J. A. Allan, Esq., Chemist, Wellington Edwin Plummer, Esq., Chemist, Wellington J. Monteith, Esq., Chemist, Wellington Wji. Pipe, Esq., Chemist, Wellington H. Brittain, Esq., Chemist, Wellington ■' Frederick White, Esq., Chemist, Wellington Dr. Goldsbeo, Auckland Dr. Boyntcm, Auckland ' Grates Aickin, Esq., Chemist, Auckland J. P. King, Esq., Chemist, Auckland : H. Hamilton, Esq., Chemist, Auckland * 1 J. N. Manning, Esq., Chemist, Auckland • J. S. Wellsman, Esq., Chemist, Napier. Bankere : THE UNION BANK OF AUSTRALIA. Solicitors : , MESSRS. SIEVWRIGHT & STOUT. Valuators and Auditors jN. Y. A. WALES, Esq., W. BROWN, Esq. Interim Secretary : MR. JAMES HANNAY, This Company is projected for the purpose of acquiring the well-known Wholesale-Drug and General Business now and for many years successfully conducted by Messrs. Kempthorne, Prosser, and, Co., at Dunedin, Christchurch, and Auckland, and at Wellington under the style of “ Felton, Grimwade, and Co.” . A preliminary agreement has been entered into between the firm and the Provisional Directors, resident in Dunedin, for the sale and purchase of the freehold and leasehold lands and buildings belonging to the firm, and now used for the purposes of the business, at a price or value to be ascertained by the valuators, Messrs. Wales aud Brown. . It has been arranged that the new Company shall take over tlio plant, machinery, fixtures, and entire stock-in-trade, at tho actual cost to the firm, aud all other the assets and liabilities of the firm. Orders in course of execution, and goods to arrive, are to be taken over at actual cost. The Company will also obtain the benefit of all the patent and proprietary articles on the same terms upon which these are now held, or manufactured by the firm, and also of all existing , contracts and current business agreements which the Company will undertake and complete. The firm agrees to take shares to the value of £50,000, fully paid-up (inclusive of 3750 shares allowed for the goodwill of the business). The Dunedin and Branch Houses are in full aud complete working order, with good stocks, and all necessary appliances for carrying on an extensive trade. Messrs. T. W. Kempthorne and Evan Prosser have consented to continue the management under the proposed new Company. The Wellington aud Auckland branches are conducted by Messrs. T. Aucell and J. W. Henton, who have been for many years in the service of the firm, aud who are thoroughly competent aud experienced men of business. The branches were established with a view to secure the local and general business of the firm’s ordinary customers, aud especially of the Chemists and Druggists throughout the Colouy—objects which have been satisfactorily attained. The Factory at Dunedin is managed by a duly qualified manufacturing, Chemist/oE extensive European and Colonial experience. The Steam Plant, which is well worthy of inspection, is of the very best class, with the most approved drug grinding mills, % and all modern appliances for the manufacture of chemical aud pharmaceutical preparations. The Promoters confidently place - this undertaking before the public as a ionajtde paying investment, and in doing so would instance the advantage of securing an old established and lucrative business, with a large manufacturing and importing trade in full operation, as contrasted with the risk generally attendant upon new mercantile ventures. The rapid advancement of the Colony opens a wide field for manufacturing industries in connection with this business, such as SULPHURIC Acid WORM, Artificial Manures, &c. It is _ therefore necessary that the present operations of the ' firm should bo extended, for which a larger capital than the firm at present commands ) will be required. Although the amount of ' £IOO,OOO to be called up is a larger sum than the invested capital of Messrs. Kempthorne, I Prosser, and Co., yet the amount of money employed in the business, upon which interest was paid, was nut much short of the amount now proposed to be called up," and therefore the promoters believe,that —taking into con- | sideration the Accountant’s statement as sub- ’ mitted in detail, also the- fact that the firm have spent large sums of money in opening and organising their various Branches and Factory, and allowing for tho increased trade which will doubtless be done under the auspices of the new Company;—the Shareholders [ may depend upon" getting regular and good ’ dividends, All the preliminary expenses ‘.in conneo- ' tion with floating the Company are to be paid by Messrs. Kempthorne, Prosser, and Co.

ACCOUNTANT'S STATEMENT. “ I certify that Messrs. Kemptborne, Prosser, “ and Co.’s books, from 28th January, 1869, to “31st October, ISIS, have been exhibited to “ me. They have been kept by double entry, “ and systematically balanced on the 28th of “ February of each year, the profits being re- “ gularly added to capital. • The annual Stock “ Lists have also been produced. Balance- “ sheets from Auckland and Wellington wore “ also exhibited, the former extending back to “1872, and these documents are clear and “ business-like, and accompanied by returns of “ sales, bills under discount, and other details, “ so as to show fully the position of the Branch “ Houses at each balance. “ I have taken out aud tabulated the results “shown in the Dunedin Books and theßalancc- “ sheets referred to, aud compared the profits “ at the end of each financial year with the “ sales made during the year, and also with “ the Capital shown iu the books at the begin- “ ning of the year, and find the following “ average results for tbo four years ending 2Sth “ February, IS7S: “ Ist. The net profits on the coat value of the sales for the last four years equal ... .... 15'320 per cent “2nd. The average net pru- .i, . fits on the average . capital equal ~, .. . 2S’OS .. ~ “ WILLIAM BKOWN, “Accountant. “ Ist November,-1878.” j Forms of Application for Shares can be obtained at the Union Bank of Australia and its Branches throughout the Colony; -from the Secretary, at the firm’s offices, Stafferd-street, Dunedin; High-street Christchurch; Lambtonquay, Wellington ; and Shortland-streot, Auckwill bo considered in the order in which they are received.' ’ The Share List will close on the 30th November instant. ...