Page 9 Advertisements Column 3

NZ Truth, Issue 1212, 21 February 1929, Page 9

/A<a fro pectua im abr dged on y by omwion or iJie Schedule of v aluation Certificate! which <a annexed t» the on\«na-. Dated the 30th day of January, 1929. A copy of thia Proapectua haa been duly filed' with the Registrar of Companiea at Wellington. John Fuller and Sons Limited (Incorporated m 1914). CAPITAL - £300,000 (the whole of which is issued and fully paid) OFFERS FOR SUBSCRIPTION £300,000 of 65y o First Mortgage Debenture Stock Having a currency of 20 years. , : .i .«h^rb;"4if™u pal "" > """ *■ *• c<>rai "" I""1 '' ""' ■» ""■"'■' h " p~6t .. di. clo .^ hy the Acoolint ,, MA w<)Old w . hMI .- : Year ended 1 5th March, 1924 £35,404 12 '0 Governing Directora: - X ear ended 14th March,' 1925 .... £35,034 19 6 SIR BENJAMIN FULLER MR. JOHN FULLER. . *W SIS X |?f, ~ 5 ? . . M, V. DUNCAN. Hi, S MS:£ ! . n* Wdlu*™. ' 'V-. -«Ud 10* M-* ,«» ' .2M74 1« a" R , Ihe hgures given above hay« been acrived at by taking BANK OF NEW a SOUTH WAI FS " ' S* P /,l Si " S disdosed . J b y the audited accounta, and adding DrtiNrv UP INLW i>UU 1 H WALES. thereto the amounts paid as Directors' Feea and intereat paid *a wmtkv> it,,»^^ , Solicitors: on moneys loaned to the Company; except that the amount- ■ Measra. YOUNG, WHITE and COURTNEY, Customhouse Quay, Wellington. paid as lnt "eßt on the mortgage on the Chriatchurch proAuditor- P . erty haa not , been added back to tlle accounts. It haa beeft Mr. F. H. HAYWARD, F.1.A.N.Z., National Bank Chambers, Featheraton imTn^^f^ *"** ,***«* b y . th % Company of the i,hfc; .. Street. Wellington. P O Box 1 65 1 ameraton amount of the debenture issue the Company wilKbe enabled Tni ,. f „ n , . ' „., to fY, ' P resent liabilities, including the Bank Overdr^t - THE GUARDIAN VrUSt' A^ND EXECUTO^ COMPANY ~ w^T*" °" "" • AuCkl ° n4 &•&' OF NEW ZEALAND, LTD. . * T , , .. ' . '' ' '■'■'■ lf , ' <v ': v n . ■ ■ ». , reductlon ln Profits yearned for the yeara ended- 1 2th ■■'■■■■" C STEWART TRAir ITn 91? , Brok , crt: ,„ „. March ' 1927 - a » d 'Oth March, 1928, is accounted for' by the V U STEWART CRAIG LTD 212 Lambton Quay, Wellington. P.O. Box 328. fact that the Auckland Opera Houae wa. destroyed by fire bn ' 41 Jhor land Street Auckland P.O Box 487 and .the, 3rd December, 1926, and it Wa. not until^ StU'JulZ 172 Hereford Street, Christchurch, P.O. Box 233. „.; 10Z8, that the new Theatre m Auckland, St. Jamea, was cS i .C IP'eted and ' opened for business. • Also- for a period: of : four " GENERAL. ' v%l ™ onth « fr om 27th August, 1927, to 26thrpecember, 1927, th« \ JOHN PUT IPR ANn snN5 IIMITcn . , ; Christchurch Opera House was cloaed : db^n ;> for re-buildin ff i JOHN FULLER AND SONS LIMITED was incorporated m 1914 and purposes. ;; - a conducts the theatrical business originally established by the late Mr lohn W v - j .l • r V Fuller m 1896. The Company is the Proprietor of the Theatres and other ' th ?l eXami . ned the .earning, .of ■ the Company during " properties mentioned m this Prospectua, and during the la»t two year, has ' which^hkK o^sT h^"' " "ftt' *"'** m ° ntllt been engaged m an extensive programme of modernising and rebuilding hay« passed the earn.ng. of. the Company are m excea. ita Theatrea. reminding o f the earnings -m similar periods during the year* 1923, In Auckland it has purchased a new property and built the St. James ' 924, 1925, 1926. ■ Theatre, which is equal m design, convenience and comfort to any Theatre " taltntull y> m the world. WATKINS, HULL, HUNT & WHEELER,' . In Wellington it has re-decorated and re-seated Hia Majesty's Theatre. // ■ Public Accountants. In Christchurch it hat/re-constructed the Opera House and haa also let a contract for the building of the Majestic Theatre. , It is expressly pointed out that included m the -above The Association of the present Company with the -Australian interests figures*™ the annual receipts of the Company^from rents of of Sir Benjamin and Mr. John Fuller enable, their entire group of Theatres shop, office arid theatre preLses entirely TpaJt from . it. own to be utilised to the greatest advantage and also ensures a much higher . theatrical business. ' A ™ " earning capacity than is possible m the case of a number of single Theatres •tv • • 'r_ L ' • or isolated amall groups. Most pf the Theatre Properties contain other ' , ! ?*; " et mc °me from these aourcea now amounts to not premises, which also bring m substantial rentals, and it will be seen from ' " ? ' ■ an £7 > 500 P^ annum. > ; the valuations below that there are three valuable freehold properties entirely : Oh completion of the present building and financial proapart from the Theatrical premises. gramme the Company will receive the following further rentaj It should be noted that the present Company is entirely separate from ' from exterior sources:- — v ; : 11 " 00^" 7 holdii JK «"y -|j»"« ! " the other. Rent of Majestic Theatre, ? Christchurch, which i. Cr* I n ■1, U k ril Pre TL nt t C ° mPany - ( mor A ° tha " one-third of its • . ,-. leased to the New Zealand Picture Supplies, wWh Lclh l\ OOOOOn TK Thea f t . ret Llmlted .(Au.tr«l,a) the assets of Ltd.. for 1 0 years from date of completfon a wheh exceed £1,000,000. This active participation ,s a further assurance :. . an annual rental of .... V : > £7 000 of the aohoity and earning capacity of John Fuller and Sons, Limited. r • j m * n , •"*" — ' lUUU t-atimated rents from 4-floor shop and office block PURPOSE OF THE PRESENT ISSUE. S c f a ' J 7 ng t M ; jeßtic «,000 > - • tstimated rents from new buildings adjoining Hi. The present issue of Mortgage Debenture stock is being Majesty's Theatre, Wellington .... V .... .... £1,500 made for the purpose of completing the Company's rebuilding Leases' now being arranged for the shop and office programme and of consohdating its general, mdebtedncss into block adjoining the St. James Theatre, Auckland £2,800 .one permanent and convenient form. < ..- ,^w From the investor's point of view, the two essential points ' ' ' £14 300 m such a security are thoae of safety of principal and cer- ., ' To this new income must be added the present tamty of interest. rentals of ' £7 500 Kegarding the first point. The properties of the Company . "" .. ■»"'.' '" are freehold (with the exception of the site of His Majesty's • , , . £21 son Theatre, Dunedin) and are more than twice the value of the T , . . , ' ' '. ' present Debenture issue, while the value of the Auckland pro- , , he total "I 00 , 1116 from external sources of.; £21,800 will perties alone exceeds the amount of the issue, and the therefore exceed the annual debenture intereat without taking unimproved value of the sites is £250,000. This position can |? tO account the Profits from the theatrical business of ■ tho only be regarded as one of absolute safety to the investor, Company, and together with those profits : a t Jhe". normal more particularly since the sites are prominent m nil four of average, they should be- nearly-three times the annual interest, the principal cities of New Zealand, and must all increase m ' ~ ' * ' •' ' value with the progress of the country. TUtT Trn»yio r>X? TIJIT FOOT lE* Regarding Interest Payments. The Certificate appearing ™ E TERMS OF THE below show* that the average net surplus m the past has been PERIOD: 20 years from the Ist day of March, 1929. nearly twice the amount of the interest payable on this INTEREST: Interest will be paid at the rate of £6 10a. per --. L/Cocnturc issue • . i i r i r y * . ■; -■ -i ■ ■-- '■•• Tk;. -1. *. k J J l- i. • r centum per annum half-yearly on the first day of each- of ----fv -ecuntv regarded » . very h. K h margin of .. • the months of March and Se P tember...during .the „^id period. f . . ""' Z.._^" : '"U"-*f" _ . The interest will be paid .free of exchange withiiv"rNew SECURITY tOR THE DEBENTURE. . Zealand. ;■ . • „.:i:J. :i:J - : The Mortgage Debenture Stock will be secured by , l^der existing legislation the. interest is payabk without tain ot the assets of the Company as fully described below, • t-l ' '■« - V and executed m- favour of the Guardian Trust and Exequtors - SCRIP: The' Debenture "Stock will be issued m; the form of : Company of New Zealand Limited, as Trustee for the Deben- inscribed certificates registered m the name ioi^the' holder ' ture Holders, and is also a floating charge over all the other and may be for any multiple of Fifty pounds (£SO) with assets offlthe Company. a minimum amount of £50. Application will be made m due course for quotation on the Stock' Exchanges of Now PROPERTIES. ZeakmL ;, "■•>;-' -■■/:■'-" \r The following are the various properties of the Company " KIirAYMLIN 1 . , ;•- ;:: ./ .;^ which will be made subject to the first mortgage debenture ' ' The Company shall have the right on the first day. of now being issued. ' March. 1944, to repay the whole, of the debenture issue on' For convenience they are tabulated below with their re- giving the debenture holders three (3) months': notice of its spoctive values, while the detailed valuation certificates are intention or on paying three (3) months' interest m lieu of printed separately at the end of thi* Prospectus. such notice. I. ST. JAMES THEATRE. AUCKLAND (at cost , / m 1927-28) with frontages to Queen Street TERMS OF APPLICATION. " ' ' : ' and Lome Street .... .... .... . £166,000 * ..■...-.••,-■,:,.,-«*•»•---••■•■■• 2. THREE-STOREY SHOP AND OFFICE BLOCK Applicants may pay moneys m to the Company's brokers, adjoining the above property and also front- or to *^ c cre d«t of John Fuller and Sons, Limited,' at any ing on both streets (at cost m 1927) . 65 750 branch of the Bank of New South Wales, attaching the Bank 3. SHOP PROPERTY IN SYMONDS STREET^ ' receipt for such payment to the application form. AUCKLAND (valued by C. F. Bennett Ltd) 38 754 Tlle first allotment will be made on the Company receiving 4. SITE OF PRINCE EDWARD THEATRE,' ' applications for £200.000 of stock. AUCKLAND, also valued by C. F. Bennett! Interest will be credited on all moneys from the respective Ltd. . .... .... . 15 450 dates of their receipt by the Company, and will be adjusted 3. BUILDINGS AND EQUIPMENT OF THE ' to the first half-yearly interest date. ' " PKIhCE EDWARD THEAi RE . 36,519 This and the following four premises have all" • rVAMTD A r"TC been valued by Messrs. J. T. Julian & Son, ■ UJIN 1 KA<~ 1&. Ltd., of Auckland, Builders and Contractors.) The only material contracts affecting the present issue are:—; . 6. Buildings and Equipment of HIS MAJESTY'S •" rt \ A .. j,. j a iq.l j l i' loin l THEATRE, WELLINGTON 72 734 ; ( 1) Agreement dated the 29th day of January, 1929 be7. Buildings and Equipment of the NEW*"OPERA W .■■'* w «"' the Company and G. Stewart Craig Ltd., as .: HOUSE, CHRISTCHURCH 44 430 ,• Brokers providing for a commission of 1* per cent. 8. Buiidmgs and Equipment of the PRINCESS \ " p P ° n *" debenture stock allotted m terms of thl « THEATRE, DUNEDIN 30,052 " .• Prospectus. . . • . . 9. Buildings and Equipment of HIS MAJESTY'S (^) Draft Trust Deed with the Guardian Trust and . THEATRE, DUNEDIN .... .... 34 769 Executors Company of New Zealand Limited. 10. SITE OF HIS MAJESTY'S THEATRE" WELL- ' Copies of the said documents may be inspected at thf - INGTON, and adjoining section (valued by . offices of the Company's Solicitors during business hours. Messrs. Bethune & Co.) .... .... 66 725 * — — ■ — — ' 11. SITE OF NEW OPERA HOUSE. CHRIST- FORM OF APPLICATION FOR FIRST MORTGAGE CHURCH, valued by the Jones McCrostie Co. 9,175 nrorMTllDC CTnriT 12. SITE OF PRINCESS THEATRE, DUNEDIN. DEBENTURE STOCK. valued by Park Reynolds Ltd. .... 11500 " TO THE DIRECTORS, 13. LEASEHOLD OF HIS MAJESTY'S THEATRE, John Fuller & Sons, Ltd., . DUNEDIN, also valued by Park Renolds Ltd. 630 c /° G - Stewart Craig, Ltd., .14. FURTHER EXPENDITURE to be made on the ' 212 Lambton Quay, Wellington. P.O. Box 328. ahop and office properties m Auckland and Wellington, particularly upon a new block \ hereby apply for £ of 6£ per cent.. First Mortgage approximately ..." °...™' „* ng ° n> 23 000 Debenture Stock m John Fuller and Sons Limited, on the terms and condi- * ' tions of the Prospectus dated the 30th day of January, 1929, and I enclose The debenture is a first mortgage over all the above assets, which have a total value of .... £615,488 a. ,™ „£ * k.; n! .. * 15. MAJESTIC THEATRE. CHRISTCHURCH, the sum of £. ...... .....being. under construction, and to be completed at a *O) Payment m full upon application; total cost of approximately £70,000, together or , - , , „ .. . . » with an adjoining 4-stprey .hop and office *( 2 > 20 P er " nt of the Baid * urn P a y able on *PPl»cabon, and I agree block. - to pay the balance on allotment; . , 16. SITE OF MAJESTIC THEATRE, CHRIST- * . or „ , "■ „ x . , , CHURCH, as valued by the Jones McCrostie *< 3 > 20 P er c^ nt " of the Bald sum P»y able on apP"cation, and I agree Co., Ltd., at £41,483. The present debenture to P a^ a further 20 per cent, on allotment, and the balance w.th.n will be subject to prior securities over items tw ? months thereafter. 1 5 and 1 6 of this Schedule, the equity therein And I hereby agree to accept the said First Mortgage Debenture Stock or being approximately 35,000 , any smaller amount that may be allotted to me. Grand Total £650,488 k Name m full - — -- — . INCOME AND INTEREST. (Mr., Mrs., or Miss) The following certificate has been given regarding the ' Addresa .. — — onnual amount available m past years for debenture interest- ' WATKINS. HULL. HUNT & WHEELER, Public Accountants and Auditors, Occupation •«• Date Accountants' Chambers, 39 Johnston Street, * Wellington, 25th January, 1929. ' The Secretary • Ordinary Signature _-...-..__..-...._ ............. H?s Majest/I^hture?" * (Cross out whichever alternative, do not apply to your application,) ; Courtenay Place, WELLINGTON. -^ ' n ~~Z 7^~~. v .'■ ,|i r . | : / ': Dea w Sir k »- j v J, o , o. The Subscription Lists will close on or before We have exammed the audited Balance Sheets and Profit ' n |m rmn A xr nil I 1 /?. I X and Loa. Accounts of your Company, and find that the Net SATURDAY iuOTCh 1 Olfta