Page 19 Advertisements Column 5

NZ Truth, Issue 1191, 27 September 1928, Page 19

1 •'- .'...'•■■ "... - I■"'1 ■"' /T^ThoaniAHabit IINVeSTIQATE ■ 'Ul' rk >^V C—^ v »<ihi „■/ Irritable— Depressed Models. A General Nuisance SO-f^wf* tor *\ TV*** Are y° u W^ e tna^ when deprived of It..j ~ ' * V*l tobacco? Then tobacco is getUng you Solid or Pneumatic Tyre» down. DON'T RUIN YOUR HEALTH LEYIAN!) MOTORS I til for a dangerous, expensive iabit. Ji_7 » V ? ' LIU# STOP SMOKING. Hudd.rt, Parker Buildlno* "NICCOLO" saves you m 3 to 4 days. Po»t Office Square, Destroys the tobacco-craving, restores WELLINGTON health and appetite. HARMLESS INcib t. JtrwiiLn \iju,* O j. EXPENSIVE, EASILY TAKEN. Suhßrochn: AUCKLAND HAWBRA- Cut Ou t and post this, with a stamped AND CHRISTCHURCH. addressed envelope for Free Booklet. Apnclu throughout ih* Damfnfan. [ HEALTH IMPROVEMENT CO., L J G.P.O. BOX 396 AUCKLAND. num has been approx. £7,000 rent and interest on capital employed. The Directors are informed by the late Secretary that the average annual charge was approximately £1600, which will not, of course, be chargeable to the present Company. From the total must be deducted travellers' expenses and commission (which were not charged separately by the old management, and for which the Directors consider £3000 to be an ample allowance), and also overhead and office expenses, for which £1000 should be ample. • Therefore the average annual net profit on sales of Zealandia goods has been approximately £7233. £9,633 Average Certified Profits. Plus 1,600 Average Rent and Interest Charges. 31,233 * Less 4,000 Allowance for Selling and Office Expenses. £7,233 Approximate Net Profit. INTEREST AND DIVIDENDS. The above average net profit of £ 7233, after allowing for interest on. the first mortgage of. £5000, was more than five times the amount of the annual interest payment on the present issue of £15,000- debenture stock. Arfter payment of this interest the ■ balance of £ 5,700 was . two and a-half times the amount of a 10 per cent, dividend on the £23,000 capital now being issued. • . ■ ' .• ■■•■/ ' . ■■■-:■"'. .-. ■ "■■ .- The Directors (believe that the profits of the factory will, ,'be increased m the future, and have satisfied themselves of the continued demand for Zealandia goods. . ' . . ' . Even on the past results, no doubt can be entertained concerning the earning capacity of the business. The present management -will purchase entirely new and up-to-date stocks of materials, and will go into active production on or about the Ist day of October, 1928. f In addition to continuing the sales of Zealandia goods to the 1 retail trade, satisfactory evidence has been afforded 1 that several well-known wholesale % firms will be extensive customers of the factory. One of the largest and most widespread warehouse businesses m the Dominion is now m course. of negotiating definite agreements to purchase large lines of the factory's products. The Secretaries will be pleased to give further information on these matters to any interested enquirers. i <■ SECURITY AND TERMS OF MORTGAGE DEBENTURE STOCK. Interest at 8 per cent, per annum will be paid without any deduction (but subject to ordinary income tax at the rate at which the income of the holder is taxable, if at all), half-yearly on the last day of each of the months of March and September, the first of such payments being an apportioned part of such interest, which will be payable on the amount paid up for the time being. , v Repayment. — The debenture stock will mature on the 30th day of September, 1943, subject to the right of the Company to repay the stock on the 30th day of September, 1933, on paying interest to the date of repayment, provided it shall have given three months' previous notice m writing of such intention to repay. Security. — The debenture stock will constitute a charge on the whole of the assets of the Company, subject only to the existing first mortgage of £5000 above mentioned, such charge being a, fixed charge : (secured by/ a mortgage 1 to Frank George Massey as Trustee for the Debenture-holders) on the lands now owned by the Company* and a floating charge on all the other , assets and property of the Company. Upon the Company going to allotment, the net assets will be twice the amount of the debenture stock. Upon the whole of the capital offered to the public being subscribed, they will be 2% times the amount of the stock. , : .>..,.. The Company shall not be at liberty to create any mortgage or charge, other than the existing first mortgage of £5000, ranking m priority to the debenture stock of this issue, without the consent m writing of the Trustee for the Debenture-holders. i GENERAL. The number of shares fixed by the Articles of Association as the qualification for a Director is 250 shares. • . ■ _ . The Vendor to the Company is Zealandia Clothing, Ltd., whose registered, office is m Auckland. .. The only shares which are being issued as fully or partly paid up, otherwise than for cash; are the "3000 deferred shares; m part payment of the purchase money, as above mentioned. The material contracts are: — (1) Agreement, dated the 19th day of July, 1928, made between Archibald Clark & Sons, Ltd. (m liquidation), of the first part, Edwin Hubert Metge, of Auckland, Public Accountant, as liquidator of the said Company, of the second part, and Eric Mervyn Darrach Ohlson/ of Auckland, Solicitor, as Trustee for Zealandia Clothing, Ltd., of the third part; a 1 ,_ (2) Agreement, dated the 13th day of September, 1928, made between Zealandia Clothing, Ltd., of the one part, and Cyril James Palmer, of Auckland, Solicitor, as Trustee for and on behalf of the Company, of the other part. Copies of the said agreements and documents and of the Memorandum and Articles of Association of the Company may be inspected at the offices ot the Company's Solicitors at. any time during^business hours. _ ■ Harry Coleby Clark is a shareholder m Archibald Clark & Sons, Ltd, (m liquidation), the company mentioned m the preceding clause. Norman Alexander Duthie is a Director of Zealandia Clothing, Ltd.,- and holds 30Q contributing shares m its capital. . . Save as mentioned m this Prospectus, no Director has any interest m the promotion of the Company or the property to be acquired by it. _ G. Stewart Craig. Ltd., is the holder of 500 out of the 1000 shares allotted m the capital of the Vendor Company. .. The preliminary expenses (including stamp duty but excluding commission) of and incidental to the promotion and + establishment of a the Company and until it commences business are estimated to be £500, and are to be bOrtl l Smmission of 3% per cent on the nominal + value of ail shares and de^ benture stock allotted will be paid on all applications bearing the stamp of a "TS'miSmut'sSscription upon which the Directors mayTroceed to allotment of shares is 10,000 shares, o^fXrr^^rJ Memorandum of Association and exclusive of the deferred shares. . The minimum subscription for debenture stock offered to the public m terms of this Prospectus is £10,000. ■ ■ FORM OF APPLICATION FOR SHARES. To the Provisional Directors, . THE SOUTH BRITISH CLOTHING COMPANY, LIMITED a _: (Intended to be registered under "The Companies Act, 1908), C/o Wallace Bruce & Puthie, 41 Shortland St., AucWand^^ I HEREBY REQUEST you to allot me,V '„....• • • fHAJpSJn the r^pr^^nsri^^^^ S lesser^number' that Wbe allotted to me. I enclose herewith the sum of £ . ... i .......... .>«..-••. ... -being the amount of 2/6 per share, payable on application. . ■ .■ - - : - ♦and I agree to pay a further sum of 2/6 per share on allotment and the balance in%alls of not more than 5/- each at intervals of not less than 2 months. : '' . . „ ■ ' . , *or I wish to pay the balance of 17/6 per share on allotment and to receive interest on the sum of .15/-. paid m advance at 6 per cent, per annum, until the respective due dates of the calls. __^ If apPlying for Shares only, cross out forni i below. If for Mortgage Debentures only, cross out form above. FORM OF APPLICATION FOR MORTGAGE DEBENTURE jSTOCK. I HEREBY APPLY for and request you to allot me £...... ;••••* V Mortfraee Debenture Stock, bearing Eight per centum per annum Interest, Son £ terms provided m the Prospectus, and I enclose herewith the sum ■ • . ■ ■-•...■'.■ . . . - - . \ \ . . o f £....; ................ being the amount of 2/6 m the £1, payable on aPPI Sr> O "' HEREBY AGREE to accept the said Debenture Stock or any * smaller amount that may be allotted to me, ' .■ ♦and to pay on aUotment the sum of £..............•••. 'being the balance . of the said Stock, / i ■ ■; *or 2/6 m the £1 on allotment, and .the balance, m) three quarterly payments of 5/- m the £1 each. Should a smaller amount of stock be allotted than I have applied for, the. sum enclosed herewith shall foe adjusted, or any excess credited to the sum payable on allotment. , _ , ..... . . .„, registered mmy name* I request the Debenture Stock to be issued as be £ rer bonds Name m full *(Mr.,. Mrsl or Mi 55)... .... . : ...,. ......... ...... ....•• »■■»*!» ••••••• Date... ■'...■*.-.-*. .-i!....: ...1928. Occupation .............................. ...-..■ : '.'■■■ ■". ' ■ .' ■ . ■' '. '■■'■■ ..■->".■_ ■•■••.•■ ' _ ■ ■. ■ ■ ■-!■■■'.-' Address .... ..................... ...-. .i. ..'•'. . .... ..... .v. . , . ... ... . » ,v.-, ,v»» «» « Ordinary Signature .-v... . . ... ....;. i;. . . ....... , . •Cross out whichever alternative does not apply to your application. The Subscription Lists will close oh SATURDAY, October 6th.