Page 3 Advertisements Column 5

New Zealand Times, Volume XXXIII, Issue 5504, 16 November 1878, Page 3

BEOS PECTUS OF KEMPTHORNE, PROSSER, & CO., NEW ZEALAND DRUG COMPANY (LIMITED). Head Office—Dunedin. To be incorporated under the Joint Stock Coi CAPITAL £200,000, In 100,000 shares of £2 each, with power s only are now offered l it is intended to call , as follows :—Deposit payper Bhare ; on allot3er share three months ent, and oa. per share sis months Should the Directors deem it advisable to lake any further call, three calendar mon*''*' otice of any such call will be given. , fully paid up, are to be taken •"upthorne, Prosser, and Co., r.nn ~i u^i U t* reserved for Directors. Provisional Directors : Robert Borrows, Esq., M.D., Dunedin J. G-. Black, Esq"., Professor of Chemistry, Otago Univers'ty Henry Houghton, Esq., Merchant, Dunedin F. C. Batchelois, Esq., M.R.C.S., Dunedin Benjamin Bagley, Esq, Chemist, Dunedin T. S. Graham, Esq., Merchant, Duuediu A. J. Fkkgcsson, Esq., M.D., D '' R. A. Low, • sq., Merchant, Dui B. HaLLEnstein, Esq., Merchant, Dunedin T. M. Wilkinson, Esq., Chemist, Dunedin William Brown, Esq., M.B, Dunedin , Esq., Chemist, Dunedin ~ , Solicitor, Dunedin C. A. Anning, Esq., E.-q., Chemist:. Dunec [.j Merchant. Dunedin ER, Esq., Chemist, Port Unalm FERY, l-sq., C" ' " 3. Haerup, Esq., Chei .T. V. Ross, ' sq., Che >NNINGTON, E-q., ll< Hatch, Esq., Che , _ b J. D. Hates, Esq., Chemist, Invercargill E. G. Lane, Esq., Cue- 1 - 1 - " H. J. C. • DWAItDS, F Dr. McTntyre, Ti: R. Watkins, B. S. Cook, E ~ . C. D. Babuaed, Esq., Chemist, Wellington J.-A. Allan, Esq., Chemist, Wellington ■. Goldsbro, Auck Dr. Boyntdm, Auckland Graves Aickin, Esq., Chemist, Auckland J. P. King, Esq., Chemist, Auckland H. Hamilton, Esq., Chemist, Auckland 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 : N. 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 Dp and General Busineso now and for many ye successfully conducted by Messrs. Kempthoiuo, Prosser, and Co., at Dunedin, Christchurcb, and Auckland, and at Wellington under the style of " Pelton, Grimwade, and Co." A preliminary agreement has been enter into between the firm and the Provisional Directors, resident in Dunedin, for the sale and purchase of the freehold and leasehold lands and buildiDgs belonging to the firm, and no used for the purposes of the business, at a pri< or value to be ascertained by the valuator , Messrs. Wales and Brown. It has been arranged that the new Company shall take over the plant, machinery, fixtures, and ent'"'" 11 stock-in-trade, at the actual cost to the firm, and 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 TROrRIETABY ARTICLES Oil 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 tako shares to the value, of £50,000, fully paid-up (inclusive of 3750 shares allowed for the goodwill of the businr- A The Dunedin and Branch Houses are in iuh and complete working order, with good stocks, and all necessary appliances for carrying on extensive trade. Messrs. T. W. Kempthorne and Evan Prosser have consented to continue the management under the proposed. new Company. The Weliingtqn and Auckland branches are conducted by Messrs. T. Ancell. and J. W. Hentou, who have been for many years in the service of the firm, and who are thoroughly competent and experienced men of business. The branches were established with a view to secure the local and general business of the firm's ordinary customers, and especially of the Chemists and Druggists throughout the Colony—objects which have been satisfacto attained. The Factory at I 'unedin is rnaaa by a duly qualified manufacturing Che extensive European and Colonial experience. The Steam Plaut, which is well worthy of inspection, is of the very* best class, with the most approved drug grinding mills, aud all modern appliances for the manufacture of chemical and pharmaceutical preparations. The Promoters confidently place this undertaking before the public as a bona fide paying investment, and in doing so would instance the advantage of securing au old establisht ' 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 Sclfhuric Acid Works, Artificial Manures, &c. It is therefore necessary that the present operations of the firm should be' 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. Kempthor Prosser, and Co., yet the amount of money < ployed in the business, upon which inter was paid, was not much short of the amou«. now proposed to be called up, and therefore the promoters believe that—taking into con--s.ideration the Accountant's statement as submitted 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 the increased trade which will doubtless be done under tho auspices of the-new Company—the Shareholders inay depend upon getting regular and good dividends. All the preliminary expenses in connection with floating the Company are to be paid by Messrs. Kempthorne, Prosser, and Co. ACCOUNTANT'S STATEMENT. " I certify that Messrs. Kempthorne, Prosser, " and Co.'s books, from 2Sth January, 1869, to " 31st October, 1878, have been exhibited tf " me. They have been kept by double entry, " and systematically balanced on the 2Sth 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 were " also exhibited, tho 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 havo taken out and tabulated tho rosults " shown in the Dunedin Books and the Balance- " sheots referred to, and compared tho profits "at the cud of each financial year with the " sales made during the year, and also with " the Capital shown in the books at the begin"ning of the year, and find the following " average results for the four years ending 28th "February, 1878: "Ist. The net profits on the cost value of the sales for the last four years equal 15520 per cent "2nd. The average net profits on the average capital equal 23'0S „ " WILLIAM BROWN, " Accountant. " Ist November, IS7S." Form? 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, Stafford-street, Dunedin; High-atreet Christ church; Lambtouquay, Wellington ; and Shortlsv.d-street, Auck- ., , . ~ ,- . Applications will be considered in .the orUev in which they are received. The Share List will close on the 30th No. Tenaber instant.