Page 1 Advertisements Column 2

Patea Mail, Volume IX, Issue 1086, 14 September 1883, Page 1

Prospectus '■■■ ; ' OF THE ' " WELLINGTON MEAT PRESERVING. AND REFRIGERATING COMPANY (Limited). To be registered under ” The Joint Stock Companies Act, 1882.” Capital In 5000 Shares of £lO, each , (With power to increase). ; Payable—Ten Shillings on application ; Ten Shillings on allotment ; and subsequently by Calls not exceeding at the rate of Five Shillings per month per Share. Provisional Directory. (The following gentlemen will act on the Company’s behalf until.the appointment of the permanent Board by the Shareholders.) ; - Charles Johnston, Esq, M H R (Messrs Johnston and Co) Hon Robert Campbell,.M LC W Waring Taylor, Esq J G Wilson, Esq, M H R Donald Fraser, Esq John McLennan, Esq, Oroua Downa Charles B Izard, Esq (Messrs Izard and Bell) F A KruH, Esq (Messrs Krull and Co) Joseph Abbott, Esq, Wanganui J McMenamen, Esq, Terawhiti John Stevens, Esq (Messrs Stevens and Gorton, Bulls) James Smith, Esq (Messrs Turnbull, Smith and Co) C C Murray, Esq (Messrs Murray, Roberts, and Co!) ; James Bull, Esq, Bulls John T Dairy triple, Esq, Bulls A H Miles, Esq, (Messrs Murray, Roberts, and Co) John P Russell, Esq, Wangai-Moana Alfred Matthews, Esq., Featherston Andrew Young, Esq E J Riddiford, Esq George Luxford, Esq F B Larkworthy, Esq, Carnarvon Estate, Sanson With power to add to their number. Bankers : The Colonial Bank of New Zealand. Solicitors : . Messrs Izard, and Bell Broker : W Axup : • Interim .Secretary : Henry Wright Temporary Offices : Temple Chambers All expenses in connection with floating the Company prior to registration to be borne by the Vendors. The objects with which this Company is projected are to purchase, continue, and extend the businesses of Messrs J and H Barber, and Woods, Crosbie and Co, which have, been so successfully carried on for many years past, consisting of six retail shops, meat preserving, and boiling-down plant complete, paddocks, yards, horses, carts, and all the appliances necessary for conducting the extensive business which now exists. A schedule of the various properties used in the businesses is appended at foot, and the values having been ascertained by a competent independent, valuator, and approved by the Provisional Directors, it is’proposed to take them over at the sum of £18,789 5s (vide Schedule A), of wlxich; the proprietors will retain in paid-up shares the sum of £12,000, leaving the balance to be paid out of calls, and to bear interest at the rate of 8 per centum per annum ; the payment to extend over a maximum period of five years, or to be reduced by instalments of not less than LIOOO each, at any earlier date, at the option of the Company, All book debts will be taken over as they now stand in the books, and they will be guaranteed at 20s in the pound by the uenders. Live stock, tallow, horses, carts, and several smaller properties not already valued (vide Schedule B) will be taken at a valuation on delivery ; but all other articles and properly of what kind soever will be deemed to be included in the valuation estimate of £18,789 ss. The Company will be registered as soon as £25,000 has been subscribed for, in addition to the paid up shares to be retained by the Vendors, and the shareholders will then be called together to elect a permanent Board arid adopt Articles of Association. On the registration of the Company, Messrs Barber will at their own cost continue and complete the erection of a large new slaughter-house at Ngahauranga, and will remove there, from its present position in Willis-street, the whole of their meat-preserving machinery and plant. It is intended to take power in tlie Memorandum of Association to enter upon the business of freezing meat for export, or to amalgamate with any other Company, or to purchase any busi-' ness established for that purpose, and to manufacture artificial manures or other products which may be considered legitimate adjuncts to the business ; but for the present, at least, it is deemed prudent to rest satisfied with tfie known profits of the businesses as they stand, without embarking in more speculative ventures, and it is evident that the combination of the two establishments under one management must result in increased profits and largely diminished expenses. The combined businesses show a net profit of over 15 pci cent, end it is confidently expected that when conducted under one head, this may be considerably exceeded. The success which has attended the Gear Meat Company since its establishment as a public Company, shows conj clusively thot such businesses are more systematically and advantageously worked and extended in this way than by private enterprise ; arid it is for this reason that Messrs Barber, and Woods, Crosbie and Company are willing to sell their respective businesses to a Company, while still retaining a very large interest themselves; and they have agreed to place their services at the disposal of the Company for such time as the Directors may require, and not to engage in any business in competition with this Company. The resources of the Wellington district, in the way of sheep and cattle, are