Page 3 Advertisements Column 2

NZ Truth, Issue 1196, 1 November 1928, Page 3

lie most S^&\JZ^\^^>Zs>\ 6ncJ for a J olln Noble Illustrated -^j^/'l^^f) Catalogue and see for yourself //^^y7Nw7 c wonderfu i bargains offered / -^ hr fou/" * n gooc^ 8 °^ ever V description. vCl^ 'jftj' WOWDERFUL BARfiAIMr A All the latest fashions, perfectly cut and illi fitting, exactly us they look m the cata» fi^w^*^^M^V"* Jf^ .. logue, (a speciality being made of larger \y^!">> WSPZ^Pf \W$ ' Biics ) underwear, dress materials, chil- \^^^^ tti dren's clothes, milllnery.footwear, men's \\ osS<^ jC\ Vr clothes, ready to wear or made to measure, \U^ <$s, JfciM-tRYS and practical and serviceable household \O*W y^ 2*\X Unens - 132 fully illustrated pages. .. \^^r^^W\ ' Mtwfa<tiom guaranteed m^^^Xj^^TltW 'Satisfaction guaranteed on all goods »\Cr* \' supplied, or money refunded m fulU Ijh^jSß^^Si^ FREE CATALOGUE can be obtained iV*]!^^^^^/ from tlie office of this newspaper. //^ $&*%& *^&a/*Qj//Y Send /or one to-doy. MAMCHE^TER EN6LAND rßrfelJ to^H— -coupon — * WL& Please send John Noble's Illustrated Catalogue ** .. PoStFRJSE(o:Name.'. ..^..- „.,,..■.,„, .*.. ..••'-'••• A4dircs» -^ . „;'■ . > . _■„. S| Cut out ( Cqupon and iend to office of thN nrwso^iper. NsfP*^ ANGORA AND CHINCHILLA ' \*mm^ Don't Wear a Truss.— The RABBITS m^^^L BR O° KS Rupture Appliance Pedigree Stock at reasonable prices JT Mvefv ■ourel'SurT 3 Suit" bred m New Zealand from only the B^fSy^t™, childfinest English imported animals. For BL^ ren. Navel Rupture Appllquptations and particulars of this pro- HMff^ ances, Uterine Abdominal fitable new industry consult the pion- MtaOsL Supporters, Busper,Borles. etc. „ „;. i-._ 00 , 1q « 0 .«»»«»*«. g o ] c Controller m N.Z., cci breec / er J— • MAIIK SMITH. Address: 2nd. Floor, 262, J. K. MOONEY & CO. Lambton Quay, Wellington. Phone No. 258 Yogel Street, DUNEDIN. 43-943. Write for Bookiet, enclosing advt.»

' In the present year Hawaii has been visited by Commander Hewitt, who is one ol! the Directors of the present Company, and the whole of the plantation and canning methpds of the Hawaiian Pineapple Company have been studied at first hand by him under the friendly guidance of Mr. Dole, the founder of the industry there. All preparations have been made to ensure that a profit-earning basis will be established immediately. It is estimated on a conservative basis that a crop of not less than 200 tons of fruit will be harvested. in January and February, 1929. THE ASSETS BEING ACQUIRED! The assets being taken over by the present Cohipany, for which no payment whatever m cash is being made, and on which the total expenditure has been approximately £25,000, are as follows: — 1. THE WAIDAU PLANTATION, comprising 1039 acres of freehold and 333 acres of leasehold, situated on Oi'alau Island (where Levuka stands. - 2. .A MODERN CANNING. PLANT, with a capacity of 6000 tins per day, now. erected at Suva, arid lease of can forming and sealing plant, also at Suva. In consequence of negotiations that have already taken place, it. is .anticipated that favourable consideration will be given to applications for the following concessions from the Fijian Government, viz.: — j' (a) Remission of export tax on canned pineapples; (b) Exemption from customs duty on plant, building materials for factories and plantations, also on sugar and on tinplate or partlymade tins, . . (c) Completion of the motor road between . Levuka, the port of Ovalau, and the Waidau Plantation. The Directors' are negotiating for options over adjoining properties, to provide for future expansion. ' . The plantation has calm-water access by river and reef- protected channels, and fa.ces a deep-water anchorage. • THE NEW ZEALAND MARKET. The first and immediate market for tjie Company's output is New Zealand, whose annual importation of canned pineapple is equal to 75,000 cases of 24 21b. tins. "" ' ■ " . The Import duty on the Hawaiian article is 45 per cent., while it is only 26 per cent, on the Fijian. The annual Canadian import of canned pineapples is equal to 285,000 cases of 24 21b. tins, and is valued at approximately £400,000. It is divided almost equally between British and American produce. There is a British preferential tariff of y 2 cent per- ib. as against the tariff on American imports of 2%. cents per lb. This is equal to a preference of 4/- per case m favour of the British product. MARKETING ARRANGEMENTS. It is intended to enter into an agreement with Gollin & Company Pty., Ltd., of London, and the principal cities of New Zealand, whereby it will be ' appointed 'sole selling agents for the Company m New Zealand, Canada, and the United Kingdom. THE PROFITS OF THE COMPANY. , ... . S . : • After a long experience, it is shown that the annual net profit per acre on the Hawaiian plantations is £80 sterling, and there is no reason to doubt that this will be 'equalled m Fiji. " • • Two very important points must be taken into account here. While the price of plantation labour m Hawaii is 6/- per day of 10 hours, m Fiji it is only 3/- pcr v 10-hour day, while Hawaiian factory labour is higher m comparison. There is an ample supply of Hindu and Fijian 1 labour. x ....... While the. highest rate of income tax now payable by companies m New 55eal;tnd is 4/6 m the £, m Fiji it is only 1/- m the £, and, as the income of the Company is derived from Fiji, it falls within the exemptions from further tax contemplated by section 89 of the Land and Income Tax Act of the New Zealand Legislature. ' Lest it should be thought that the following estimates of profit are optimistic, it is again stated thut, having regard both to Hawaiian and to Fijian experience, they have been made on a definitely conservative basis. The conditions, whether financial, physical, or commercial, under which the present Company is at once going into active production, ARE INFINITELY MORE FAVOURABLE THAN WAS THE CASE IN HAWAII IN 1903. YEAR ENDING JULY 31st, 1929. 'The crop which will be harvested m December, January and February,' 1929, will produce approximately 7500 cases, the net profit on which will be approximately £2000. ; On the basis of an issue of 40,000' ordinary shares then being paid to 10/-, that profit would be the amount, required to pay a dividend of 10 per cent, on the then paid-up ordinary capital. . I YEAR ENDINQ JULY 31st, 1930. Already considerable areas have been prepared for planting, and this work will continue on a larger scale. Once planted, the pineapple produces 2 yearly crops of fruit, and suckers sufficient to treble the output every year. Hence, after the first year, two , crops are harvested and canned. ' The estimated production for the second ytear should be at least 17,500 cases, which should show a profit of £4000, being the amount needed for a dividend of 10 per cent, on a paid-up ordinary capital of £40,000. YEAR ENDING JULY 31st, 1931. The estimated output should be 60,000 cases, on which it is estimated that the net profit will amount to "£15,000, or more than twice the amount of a 10 per cent, dividend on a paid-up capital of £65,000. The following comparison is tabulated:— HAWAIIAN CO.'S OUTPUT FIJIAN OUTPUT Year '..-'. Cases Profit. Year Cases ' Profits. 1903 ............ i;S93 "•' ' 1927 .....<..... 3,000 1904 .... 8,810 1928 .......... '5.000 1905 ............ 25,022 • (Estimated) (Estimated) 1906 ...^ 31,934 ' 1929 7,500 £2,000 1907 108,600 £21,600 1930.. '..'... 17,500 £4,000 1908 225,320 • £25,500 1931 60,000 ■ £15,000 1909 242,822 £24,500 1932 120,000 £25,000 1910 ............ 233,578 .... £17,750 1933 200,000 V £35,000 1911 309,602 ■•: £31,5P0. . : : 1912 .-. 523,916 -J £31,100- • , ■1913 599.542 £63,600 . : FIRST YEARS OF HAWAIIAN CO. The profits for the period 1903 to 1906 are not readily available, but reliable authority states that, despite the fact that the Company was then getting under way, these years were quite profitable, as is .evidenced by the declaration of a stock dividend of 250 per cent, near the. close of that period.