Page 2 Advertisements Column 1

NZ Truth, Issue 1208, 24 January 1929, Page 2

THE NEW ZEALAND UNDERWRITING AND DEVELOPMENT CORPORATION, LTD. ANNOUNCE A GILT-EDGED INVESTMENT, SECURED UPON AWELLINGTON CITY FREEHOLD, WITH A WIDE MARGIN OF SAFETY. ■...' :'-' : ; '•';. ISSUE OF P ' £,40,0p6 7itSECOND MORTGAGE DEBENT URE STOCK :by Grand Central ' Buildings, Limited (Incorporated : ;under The ' Companies Act, 1908)^; Nominal Capital^ 11^70,600 1 ill £30,000 $ per cent. Cumulative Preference- •;■ Shares, and £40^000 Ordinary Sharesl v tf ■ . '* ■■" • Directors: .■■■->. : ' ; '; \ : " v -l- ."■■■. ARTHUR YOUNG, of •Wellington, MercHant (of Messrs, T. & W. ,T6\lng). LEONARD MILLS, of- Wellington, Contractor. (Managing Direotor "oil the. ;■ • :. Hansford Mills Construction Co., Ltfl.l; r CHARLES ,W T. TAYLOR, of Wellington, Merchant (Managing Director - of Messrs, E. T. Taylor' & Co., Ltd.), . , • ■ '• ■ . JOHN H. MILES, of Wellington, Solicitor (of Messrs. Johnston, Beere'& Co. X WILLIAM H BALLINGER, of Wellington, Merchant (of Messrs. Ballinger ' ' Bros. Ltd.). " Purpose of Issue. The Albert Hotel, which . for many years has occupied an outstanding. Dosition at the corner of Willis Street and Boulcott Street, Wellington, has , been! acquired by. the- Company., The. building will be demolished andvm, its ... place will be erected a block of buOdlngs. eight stories high, comprlslng^a number of shops, and,a. hotel proposed to be 7 known as- "The/ Majestic. ' With its 185 bedrooms,, all provided' with hot and cold water, and many with private bathrooms; spacious dining and social .rooms; and up-to-date equip- . ment, the hotel will be the most modern hotel m the Dominion, and will flu a long-felt want m Wellington. ' ' The hotel has been leaseS for five' years, with option of renewal for a further flve years, at a- satisfactory rental.. .There is already .an eager en- ; . quiry for the shops. ■; ..;.; = ; ; ,,SBCURITY« '"■l.^\^' : . The land and License fiave^r^cently been valued. by Messrs. Harcourt & <. CO. at £73,066, and the cost of the new building will be approximately £90,000. The security for the Debenture Stock will therefore consist of. — / '' Value of Site and License ..' .'. .;; .. . £73,066 '.. Cost of Building, approxr .. .. ■ „ „ £90,000 "• •. •■■ -: ' „;.-.-. tvLv.^ .• •■ '„ " "-£163, 066. .....; „:. First Mortgage to Bank of New ■ ■ . ■ Zealand on 36% years term> \ ' ;. with Sinking Fund .. ..■ „. ; .... £70,000 ' . " ■ '.. . .'■'■' \ , ; £93,066 ". Second Mortgage Debenture Stock ■ .... ... £40,000 7 ! MARGIN £63,066 Estimates of Receipts and Expenditure disclose a surplus of £9,997 to meetTthe Interest (£3,000), on the Second Mortgage Debenture Stock— MORE THAN THREE TIMES THE AMOUNT REQUIRED. Pfete^For Investors.^ (1) In every City '■■ there rare-^key" site^ which rise m value as the City A grows — the old "Albert CofneV* is one of these sites. ■ l ■■<* • .... . (2) The operation of the Sinking Fund on the First Mortgage will increase the. value ; of the equity- of the -Debenture Stock year by year. ; (3) There is every indication that interest rates will fall m the near future; therefore the: Debenture should go to a premium. (4) No better Security can be obtained than a City freehold, with a modern building thereon; ' ■ :.* " . . (B) The Company will derive "its revenue from rentals, not from trading operations, therefore the income is secure. ._ ; The Debenture Stock-holders will be protected by a Trust Deed m favour of The Guardian Trust and Executors Company of .•.■New . Zealand, Limited (a Company merged m and guaranteed by The South British Insurance Company, Limited). C-. - - '".-■•■ • ■ /■• As it is expected that the Issue will ,be heavily oversubscribed, early application Is essential. • , * , . > „...-■ TO,- ' ■■ ■ ■■■'-■„■ '■'■ ''■ ' '■■ *'"''■>' '"■ '"■'"■ ' '"". ' : ■' '"■■. ' The New Zealand Underwriting & Develppment Corporation, Ltd.,. National Bank Chambers; Wellington, (P.O. Box '9B6),' or Premier Buildings Durham Street East, Auckland. 1 : \.:y-^--^,,r:\ ::, : - t -;-:-^.:--:^'^.^---.-.- Please forward, without any obligation on my part.s Prospectus of the Grand Central Buildings Debenture Issue. '.'::.. ./■ ; NAME ./.........................ADDRESS „.,...,:...,,;,.. ....'. „;.. ;:.. 1......... ................'...TRUTH i> -lUealing Balm % V INSECT BITEISUNBUftNf SORE FEEIPiLES, / POISONED WOUNDS^* @ with care m ' " iiiillliiiil w xhe soap you use A WONDERFUL >S for 7™* skin CORRECTIVE fia ? $1} *?*? BILIOUSNESS and mP c *\ mte quallflCONSTIPATION g resuks you wish Always prompt and O to attain. effective. No weak- iont*^ ' ening after-effects. @ V^ULl^Uld , Ideal for sustaining /Q , Sfl^lfl freshness and vigour s m hot climates. %f*) Has been c choice °' m WI ' lions for 50 years for its de- ' ' • K^W Hghtfully medicated, sanative Prices 1/3, 3/- and 5/» V A and prophylactic efficiency ffiA m cleansing, purifying and 1 1 HHjfliiJituaf j.nw.'i vrmrprxmaamnm \S beautifying the Skin and Bl|| | ' ' For sample Soap. Ointment end T«lHI THOMAS HOL^OWAY gj cum address :R.fowM* Co., Sydney, Jllli ' * 13 Southwark Stre«b ' OTPTry the Cutlcur* Shaving SUcfc. VPtiy i LONDON. 5.8.1/ ] ~ 1