AN ATTRACTIVE PROPOSITION

NZ Truth, Issue 1141, 13 October 1927, Page 14

AN ATTRACTIVE PROPOSITION

Looking Over The Hotel Auckland

(By "Fiat Lux.")

Auckland again leads the way for the Dominion m the matter of catering for the travelling public with its ambitious scheme for the erection of palatial "Hotel Auckland" at an estimated cost of well over a quarter of a million sterling.

•THE prospectus, together with the 1 confidential estimates of income and expenditure, form the most complete and thorough presentation of the promoters' case it has ever been this critic's pleasure to peruse. If the quality of this preliminary work can be accepted as any criterion of the quality of the service Hotel Auckland will render the public— and this writer firmly believes it can — then shareholders

and the public, too,

are going to benefit

trem end ously by

the successful flo-

tation of this com-

pany. The nominal capital of the company is to be £200,000 m £1 shares, of which £26,000 are to be allotted as fully paid to the vendor of the land to be required m part payment therefor, £25,000 are to be held m reserve, and £149,000 are now on offer to the public upon the usual easy terms. It is proposed to proceed to allotment with a minimum subscription of £50,000 contributing shares. A very large amount of capital can, it is confidently expected, be raised on mortgage, and the architects have so planned their work that two floors, roof garden, etc., can be erected after the main portion of the structure is m. full use.

The board of directors is a particularly strong and influential one, and contains the names of some gentlemen who have spent a great many years m the hotel business.

Dealing with the prospects for this flotation, there is no doubt that Hotel Auckland will fin a much-needed want m the Queen City, which is the Mecca of all tourists visiting the Dominion.

Some Features

A common cause of complaint against New Zealand hotels by overseas visitors particularly is the almost entire lack of heating m bedrooms and corridors.

Hotel Auckland will avoid this by installing a low pressure steam central heating plant. Another feature of the hotel will be the provision of bathrooms attached to the bedrooms, and this is an undoubted attraction and comfort, as has already been proved both m the capital city and m Wanganui.

———————— These and hundreds of other features should ensure regular patronage.

The proposed prices to guests axe moderate enough to attract and retain a fair share of local trade m addition to the tourist traffic.

In this writer's opinion shareholders can confidently look forward to regular 8 per cent, from this excellent investment.

VALUES CHANGE!

Tour dwelling, business premises, and plant would cost a lot more if they had to be replaced to-day. Values change — so do risks. One disastrous fire may wipe out the effort and sacrifice of twenty years! A good idea is to have your Fire Policies reviewed m the light of present-day conditions. The Mercantile and General Insurance Co., Ltd., transact FIRE, Marine and Accident Insurance. This New Zea-land-owned Company settles claims promptly. Head Office: Panama Street, Wellington. Tel. 40-561. Branches and Agents everywhere. Subscribed Capital £250,000.*