Page 3 Advertisements Column 3

South Canterbury Times, Issue 2324, 28 August 1880, Page 3

Lato Adeyrtisements. from time to time been made to the buildings and plant, the latter now comprising four sets of carding engines, and 35 looms with necessary machinery, which with the addition of machinery just arrived, makes the plant well-proportioned and very complete. The sum of £I2OO has been paid since stocktaking, for last additions to buildings and machinery just arrived per Loch Awe. The Manufactory, with the addition of the machinery per Loch Awe, though complete in itself, will not, however, cnable'the Company to meet the greatly increased demand which has arisen for their goods. Although,as hitherto, continuing to run a largo portion of the machinery night and day, and having conclusively proved that the present headsof ■ departments arc capable of working a mill twice the size of the present one at a saving of at least £2OOO a year on the general working of the Company’s business, they have, with a view to providing extended premises and appliances, decided to increase the capital from £15,000 to £IOO,OOO, the whole to be represented by 1000 shares at £25 each of while the existing shareholders will be entitled to 825 fully paid up, in exchange for the shares now held by them (including the accumulated profit thereon, amounting to £3711) ; of the residue, the Directors propose to issue at present only KiOO. The increase capital will be applied to the following purposes, viz ;—Paying off existing mortgage of £7IOO ; enlarging present premises and plant; establishing premises in Christchurch; and for the general purpose of the Company. The following maybe enumerated among the special advantages in favour of Shareholders, viz,The original plant was purchased at about half cost; the staff_ is now well trained and efficient, which will obviate the difficulties and avoid a repetition of the losses experienced during the first 18 months of the Company’s operations ; while the whole of the dead stock was cleared out previous to stocktaking, July Ist, 1880. A good and safe business has been developed, which is steadily increasing, and is capable of being worked up to a much greater extent. All the risks and expenses connected with the formation of a new Company will be avoided, and as can be seen by a perusal of the last balance-sheet, the new Shareholders will at once enter into possession of a good paying concern. _ The present Shareholders show their faith in the concern in in the mest practical manner possibly by taking the amount of £3711 (accumulated profit—equal to Id per cent per annum on the paid up capital) in fully paid-up shares, instead of drawing the amount, which they arc entitled to do. The Company now offers to investors an opportunity to develop a Colonial industry which has established for itself a good reputation and meets with popular support, and which will, it is expected, shortly employ about 100 hands, and at the same time securing to Shareholders a good return for the capital Invested. Intending Shareholders can obtain any information, with an order to view the Factory, from the Directors, or on application at the office of the Company. The Share List will close on Oct., 1.1880. In making the allotment the Directors will take into consideration the order in which the applications are made. The sum of £1 per share will be payable on application ; £2 10s per share on allotment ; and the balance in calls of not more than 50s per share at intervals of not less than three months. In this manner the time for fully paying up will be extended to not less two years and three months. All applications, with £1 share deposit, to be forwarded to the Chairman of Directors, not later than Oct. 1,1880. BAL ANCE-SHEE T, June 30, 1880. LIABILITIES. To Paid Capital, viz : 15 shares of £IOOO each .. Mortgage to the Hon. J. T. Peacock Bills payable Debts due to sundry tradesmen Interest on mortgage, halfyear Advances on wool shipments George Ilamsden (loan) .. Cash due Bank Now Zealand Profit and Loss balance .. £ s. d. 15,000 0 0 7,100 0 0 10 10 2 282 3 9 333 0 0 700 0 0 (558 15 0 2,121 12 1 3,711 7 0 £30,283 17 0 ASSETS. By— A s. d. Freehold land .. Buildings account 3,003 17 8 Buildings account less depreciation 50 18 1 Loom cash and petty cash .£ s. d. 351 1 0 3,093 19 7 10,010 7 8 11,311 17 11 3,(580 2 0 921 10 11 32 9 2 £30,283 17 0 STATEMENT OF PROFIT AND LOSS ACCOUNT For Half-year ending June 30, 1880. Examined and found correct. W. P. WILSON, Auditor. Forms of application may be obtained by applying cither personally or by letter, at the offices of the Company. ISAAC WILSON, ‘ Chairman of Directors. •