Page 7 Advertisements Column 3

New Zealand Times, Volume XLVI, Issue 10605, 2 June 1920, Page 7

ABRIDGED PROSPECTUS OF THE WANGANUI WOOLLEN MILLS, LTD, ' (INCORPORATED TINDER "THE COMPANIES ACT, 1908.") CAPITAL £200,000 REGISTERED OFFICE —44 MARIA PLACE, WANGANUI, N.Z.... In 200,000 shares of £1 each, of whiohi 120,000 are now offered to the public for subscription on the 2s. per share on application. 2s. per share on allotment, and the balance in calls of not .more than.te. per share, wtehaw onlyto be made payable with an Interval of at least three calendar inonths between the date of allotment and the nrst can---.d thereafter with intervals of at least three calendar months between each call. PROVISIONAL DIRECTORS: 1. W. J. POLSON, of Wanganui, Director for New Zealand of Bristol and Dominion Producers' Association. 2. JOHN STEVENSON, of Wansanui, Manager of The New Zealand Loan and Mercantile. Agency'Company, Limited. 8. KJ. N. BAGGETT, of Wanganuii, Managing Director of the Simplex Milking Machine Company, Limited. i. ALLAN ROBINSON, of Wanganui, Farmer, Chairman of the Wanganui County Council. 5. PERCY HIGGINBOTHAM, of Wanganui, Managing Director of Purser's, Limited, Furnishers. 6. S. M. DAVIS, of AVanganui, Director of Freeman R. Jackson and Company, Limited, Stock and Station Agents, Wanganu 7. G. L. MARSHALL, of Marton, Farmer, President of the Wellington Provincial Farmers* Union. 8. J. A. DOHERTY, of Wellington, Merchant Tailor. Who will hold office until the conclusion! of the statutory meeting at which the permanent Directors will be appoint* - BANKERS: THE NATIONAL BANK OF NEW ZEALAND, LTD. SOLICITORS: MARSHALL, HUTTON- AND IZARD, Wanganui. INTERIM SECRETARY AND BROKER: E. M. SILK, F.1.A., NiZ., of Silk, Haworth and Company, No. H, Matia Place, Wangani. INTERIM AUDITOR: HAROLD HAGUE SMITH, A.P.A., N.Z., Wanganui. BROKERS; ; IRWIN AND GEOBGE, 37. Panama Street, Wellington. -' MINIMUM SUBSCRIPTION. The minimum subscription on which tho Directors may proceed to allotment is thirty thousand shares; but prior to the issue of this Prospectus or any offer of shares to the public, shares amounting to such minimum subscription Had alreaedy been applied for. :...,., .OBJECTS. The Company has been formed for the purpose of establishing a Woollen Mill or. JtUisJn.or.>near„. Wanganui and Manufacturers and any other businesses provided for by the Memorandum of Association. GENERAL. Wanganui is considered to offer an admirable situation for the «rt*blishAent of * Woollen Mill- .It is the outlet foi alaree wool-growing district, from which annually at present large quantities of wool era exported. It is conveniently situatedwith regard to the railway system for the collection of raw material and the distribution of its products, and with the development of th© harbour and shipping, it may be expected to be.a.similarly .convenient port with regard to costal and overseL imports and exports. Its population is now approaching towards 22.000 and its development is rapid, and £ promises to be a centre of a large and ever-growing population. It affords admirable prospects for industries ot an Kinas requiring the employment of labour. . The Borough Council of Wanganui has been approached as to the supply,-of electric power, and has replied that by the time a Mill may be expected to be ready to commence operations, the Council anticipates bem* able to- sell such power as would be required by the Mill. This constitutes a great inducement to the establishment of the Mill iiv Wanganui within reach of such power. The alternative to electric power would be steam power,-which would be more costly both, as regards initial expenditure in buildings and plant, and also as regards operating expense, because of the extra labour involved and the price of coal. Ample water for the use of a MilU is also available in Wanganui; - * In view of'the general unsettlement in industrial'life all over, the world caused-by the War, and the rise in industrial r_ "- „_ „ ) ._j*.-„ **.„** -„„.,+,.,•,*., * mm ».i,.:„i, TVTo«r fca.= hif-hart*. drawn her woollen manufactures, and the d it necessary to no longer rely on is of low wases, but to 6et to work Wmmm other countries. It appears beyond question that the War and the nhsetflement_.it has caused have removed |he JafStoSfffmS New Zealand is by no means over-run with such Mills, indeed the existing 'Mills are quite unable to cope with, the demand for woollen goods. There is. therefore, it is thought, an ample opening for the establishment of such a Mill, in Wanganui. . . , ~ Attention is drawn to the fact that unlike most new ventures there is, absolntdy no in Company. All the Capital subscribed, except +V>« Tirnli-minarv e erecting and equipping the Mill or Mills. No 1 shares he subscribed for, for which he will pay in The three existing woollen i ""' : ~~ "" the shares, as shown below, indi Name of Company. Paid Up. Market Price at 27th April. 1920. Kaiapoi Woollen Manufacturing Co., Ltd. -£S*- • *S ,2 s ££ ™ s&£s' ' MoEgiel Woollen Factory Co., Ltd. SB 10s. X 8 17e 6d (Bujers, no S*Uersl. , Wellington Woollen Manufacturing Co., Ltd. jßJtlOs. £9 15* Od (Buyers, no Sellers). The preliminary expenses of, and incidental to. the promotion and establishment of the Company,^ n *° C _°™! pany shall be entitled to commence business (exclusive of brokerage or commission on sale of shares,but ™cmarmr a sum. to be paid to Mi-. R. D. Macdonald, a WoolW Manufacturer reoenfty from for services ren, dered by him to the Company in furnishing data and assisting in the promotion, of the Company) are estimated to amount to Five' Hundred Pounds, and will be paid by the Company. • The Company will have power *> pay any persons (including Directors) procuring the subscription of shares at tn* rate of 5 per cent, on the nominal amount of such shares. ~ m ~> ■r * • Application for shares may be sent, together with the amount payable on application, to H Secretary, or to any of the Provisional Directors or other persons authorised by tho. Erectors to **?«™ *?&££ ST lesi no allotment is made the deposit will be returned in full, and if the number of shares allotted on any applicafcon is iesi than the number applied for tho balance of the application money will be applied in reduction of the allottees iutott liability on the shares allotted. . ...-'.-• ... . • Applications will not be received for less than 20 shares. - * - - ;•-. Intending shareholders are requested to carefullyfill in the jwrticulars nationality, aTtho Company cannot be registered until the authorities are satisfied as to the nationality of. every..snaiy holder. .■'.':'-. This Prospectus has been filed with the Registrar of Companies. Dated/this Nineteenth Day of May, 1920.

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