Page 3 Advertisements Column 4

South Canterbury Times, Issue 2327, 1 September 1880, Page 3

Lrtie Adevt* tiseir> - - 11 from time to time boon made to tuo huildingg and plant, the latter now composing four sets of carding engines, and 3o looms with necessary machinery, wine i 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 anived per Loch Awe. The Manufactory, with the each .ion of the machinery per Loch Awe, though complete in itself, will not, however, enable the Company to meet the greatly increased demand which has arisen for their goods. Although,as hitherto, continuing to run a large portion of the machinery night and day, and having conclusively proved that the present heads of departments are 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 4000 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 £3744); of the residue, the Directors propose to issue at present only 160 CL The increase capital will be applied to the following purposes, viz:—Paying off existing mortgage of £7400; 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 LS 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 ho avoided, and as can bo seen by a perusal of the last balance-sheet, _ the now 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 £3741 (accumulated profit—equal to Ifi 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 400 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 mado. 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 mouths. All applications, with £1 share deposit, to bo forwarded to the Chairman of Directors, not later than Oct. 1,1880, BALANCE-SHEET, June 30, 1880. nunraiTins. To Paid Capital, viz : £ s. d. 15 shaves of £IOOO each .. 15,000 0 0 Mortgage to the Hon. J. T. Peacock 7,400 0 0 Bills payable 40 19 2 Debts due to sundry trades men 282 3 9 Interest on mortgage, halfyear 333 0 0 Advances on wool shipments 700 0 0 George Ramsdcn (loan) .. 058 15 0 Cash due Bank New Zealand 2,121 12 1 Profit and Loss balance .. 3,741 7 9 £30,283 17 9 ByASSETS. & s, d. £ s. d. 354 1 0 3,993 19 7 11,34-1 17 11 3,080 2 0 32 9 2 £30,283 17 9 ATEMENT OF PROFIT AND LOSS ACCOUNT For Half-year ending Juno To Loss on goods sent to Sydney Exhibition ~ Depreciation on plant and buildings Repairs account Wool used in manufacture Oil account, £lB5 ss; coal, £IOO 4s Od ; soap, £lO9 9s 0d Materials account, £139 its 93. ; dye goods, £321 12s lid .' Insurance account "Wages account Interest account .. Discount account General expenses Balance 30, 1880. £ s. d. 71 19 8 310 11 8 88 4 5 3,181 0 3 700 19 0 152 2 8 90 0 0 3,082 5 1 850 2 6 117 18 9 3.80 1 4 3,711. 7 9 £13,475 2 1 s. d. By Balance, December 31, 1879 LOU 7 1 Profit on wool, shipment No. 1 .. .. .. 301 12 11 Profit on wool, shipment No. 2 150 0 0 Manufactures account 11,982 2 1 £13,475 2 1 Examined and found correct. W. P. WILSON, Auditor. Forms of application may be obtained by applying cither personally or by letter, at the oifices of the Company. ISAAC WILSON, " Chairman of Directors.