A SUPER INVESTMENT

NZ Truth, Issue 1184, 9 August 1928, Page 16

A SUPER INVESTMENT

li!iiiiim(t»iiiiiiiimriiiHi!iiniiiii»HtiiiiiiHniimii»iinniimirti!iiiiiHHiniiii«iHnniiiuiniiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiriiiiiiii(iiitiiiiiii!iiiiiiiiiii»iiiiii!ii North Auckland Land Development Corporation Limited. iimiimiimniinmiiiiinmimiiiiiiM " Authorised Capital : £35,000. Divided into 35,000 Ordinary Shares of £1, each payable 2/6 on applioatlon, 2/6 on allotment* and the balance m calls not exceeding 2/6 per share at intervals of not less than 3 months. i ; Directors : ARTHUR JOSEPH HUTCHINSON, of Auckland, Company Manager. GEORGE EDWIN ALDERTON, of Auckland, Land Agent. KENNETH DOUGLASS DUNCAN, of Wellington, Merchant. BEREBFORD HARRY HUEY EDKINS, of Wellington, Retired Grazier. ALFRED EDWARD EMANUEL, of Auckland/ Retired Master Mariner. OTTO JAMES WILSON, of Wellington, Company Director; -EDWARD S. LITTLE, ,late General Manager, Brunner Mond Corp., , Shanghai, who will take up his residence at Keri Keri m December. A. Superb Investment ■.-■-■■ 2600 Shares have been subscribed for by the Directors, Solicitors,: and their friends; and 15,000 Shares have been firm underwritten by the New Zealand Underwriting and Development Corporation, Limited, the Organising' underwriters. Of these a number, have since been applied, for, by the public. "' . The objects for which the Company is established are generally tof promote a scheme of. closer settlement. . ' The Company, having been incorporated, is already . m active operation. Approximately 6817 acres of land were purchased from the Executor of the JEstate of, the late George Riddeli ('deceased). Situ- . ated at Keri Keri, Bay of Islands, the land has a considerable frontage to the Keri Keri Inlet of the Bay of Islands, about 12 miles from Russell. The block consists of "flats and rolling slopes of rich volcanic soil, with an exceptionally sunhy aspect m a belt of 'frost-free land, said to be the finest climate anywhere m the world, and particularly suitable for citrus, passion fruit, and early potato culture. The produce comes off early and catches top market prices. ■ A considerable: 'area has already been planted, and the^ crops show wonderful progress. . The price at which the land has been pwchased averages £8/7/9 per acre, and the total payments during- the first 2 years amount to. . only £7600, while the balance may remain on mortgage for a period of 6 years at 5 per cent. The block is being 'subdivided into small areas of about 20 acres, for the, purpose of settlement. '■'.',. A, predominant feature of the proposal is that the work of, planting 'and cultivation shall ibe supervised by a board of highly-qualified exfeertß, especially appointed by the Corporation, so that people can enter • upon they land and be trained, .as the w.ork proceeds, under such supervision.' - Although the 'i Corporation commenced to survey the land only m January, last, .: over 600 acres : have been sold at an average price of £28/15/9 per acre, or a total value of over £15,000. Taking into consideration the fao't thait the paid-up capital is approximately only £131000,' It la obvious, that,' after making a liberal deduction to cover Administration 1 Expenses, a very handsome profit will" accrue to-'Share- ■■ holders. ■' ..•;•.;■.;.■..' ;' '\ '::" ; ' ; ■ ".'' " ' -' It is arttiolpated that it will 'not be necessary to call up the whole of the capital, as sales of the land will provide a considerable proportion of. the. money to develop, the undertaking. 'These shares should at In value in -the near future. ,i ' ; The, above Teßults, have^ been obtained m the first six months, and it .is i quite -safe to i assume that' considerably, better results/will obtaiii m 'the next and following -Tiali years. Intending. investors should take the earliest opportunity sound £tod assuredly, remunera tive investment. Only a~ limited number of Shares are ibeing offered . to the' public for subscription at present. .'••.. . Applicatibhs will only be received on the. footing of the full pros? pectus, and on the form issued therewith. Prospeotus, Full Information, and Form of Application for Shares may \i . :' be obtained from • THE NEW 2EALAND UNDERWRITING AND DEVELOPMENT CORPORATiON, LIMITED, ' Ground Floor, Premier Buildings, Durham Street, Auckland. . Hutibhinaon, Elliffe & Cameron, Auckland Representatives. Phone 47-187. I THE NEW ZEALAND'UNDERWRITING AND DEVELOPMENT . ' CORPORATION, LIMITED. I I Ground Floor, Premier Buildings, iDurham Street, Auckland. ' i I- Please send me, without obligation, Prosp,ectus, Full Inform- I atlon, and Form of Application for Shares. ' . "' ;- ; " . ■-:■'.■ -.:■:. .■:.'■, ■ "■■■ ' :■■• ■. - ■"■■ .■- ::■> ."i . : Name .....,..' '••••, ••••.........-.... I I Address ••*•••••••••.••.•••.••••••••••••••••...;..•.-...... I I" • : ■■■' ■ ''' " ■.-■ ■'-■.' .' .' ■'..':"■" -■' ' ' ' . ■ ' ■ -. • : . ;^,.... :....■*..•.-. ......... — ... n.z., Truth, j