Page 3 Advertisements Column 5

South Canterbury Times, Issue 2763, 31 January 1882, Page 3

l?ixl>lic IVotices*. PROSPECTUS OF KB AST AND M‘GARTH Y’S (LIMITED) ! Dunedin Drewery,; | Filleul and London Streets, DunediuJ. i To be Incorporated under the Companies | Act; Liability Limited to the amount of the Shares. Capital £50,000 Divided into 50,000 Shares of £1 each. The present Proprietors retain 10,000 Shares, or any number not less than UOOO, at the option of the Provisional Directors. It is proposed to call up 9s per Share, payable as follows : —ls per Share on application, 2s per Share on allotment, 2s four months after allotment, 2s eight months after allotment, 2s twelve months after allotment. No further call for five years, when, if necessary, 3s per Share may be called up. Provisional Directors (with power to add) : Mr Wm, Gregg (Messrs Wm. Gregg and Co.) Mr Geo. Denniston (Denniston and Co.) Mr W. G. Neill (Neill Bros.) Mr Wm. Watson (Martin and Watson) Mr Geo. Esther (Esther and Low) Mr T. S. Graham (Heymanson and Low) Mr Wm. Wright (Director Commercial Property and Finance Company, Limited) Mr J. B. Thomson, Builder Mr F/ancis Meenan, Produce Merchant Mr Alex. Intrlis (A. and T. Inglis) Mr John Golder (President Licensed Victuallers’ Association) Mr John Donaldson, Glasgow Pie House • Mr N. Moloney, Ocean View Hotel Mr J. D. Hutton, St. Kilda Hotel Mr John Carroll, European Hotel Mr Hugh Ross, Anderson’s Bay Mr Francis Porter, Caversham Mr Patrick Keligher, Crown Hotel Mr Cornelius Bunbury, Grange Hotel Mr James Daly, White Horse Mr Francis M’Grath, Harp of Erin Hot-1 Mr Henry Scott, Scott’s Hotel Mr James Liston, Robert Burns Hotel Mr John Hardie, North Dunedin Hotel Mr Thos. Oliver, Sus-ex Hotel / Mr, Edward Holmes, Bowling Green Hotel Mr Thomas Dodson, Provincial Hotel, Port Chalmers Mr George Chick, Chick’s Hotel, Port Chalmers Mr James Morkanc, Royal Hotel, Port Chalmers Mr Robert Neill (Keast and McCarthy) Mr John Boyd (K ast and McCarthy). Bankers: Bank of Australasia. Solicitors : Macassey, MacDermott. and Kettle. Managing Director: Mr John foyd. Brokers : Mr W. L. Simpson, of Trust and Executors Company (late Resident Magistrate), Princes street Messrs R. and A. J Park, High street Mr W. E. Whitcombe, Timaru. This Company is formed to purchase and carry on the old and well-established Brewery and Malting Business of “ Keast and M'Carthy,” Dunedin, The property consists of the Brewery Premises (freehold), comprising upwards of three-quarters of an acre, situate across the head of Hanover street, and near the junction of London and Filleul streets, with long frontages to the two latter, on which are erected a Brewery, Malthouse, Stores, Offices, Dwelling-houses, etc.; together with the extensive Plant, Stock-in-trade, Book Debts, Rolling-stock, and also certain freehold and leasehold Hotel Properties and Mortgages on other Hotels, etc., in Canterbury and Otago; valuable Water-right, and the Goodwill an! Trade Name of the firm. The firm of “ Keast and M’Carthy ” has been established for upwards of 12 years, and their success has been such as strongly confirms general repute as to the profitable nature of a brewery business. At the outset of their career the capital of the firm was very small, and. when, a few mouths ago, after the decease of Mr M'Carthy, the books were placed in the hands of two auditors, with instructions to ascertain the absolute minimum value of the Estate, owing to legal necessity to dispose of it, they certified that, after having had special reduced valuations made of the real and leasehold properties, and making all allowances for open accounts and bills on hand or under discount, a liberal discount off the stock on hand, and a large provision for contingencies, the surplus available for division —after discharging all liabilities was £20,128. That this a very safe minimum figure is patent from the fact that the balance sheet at the same period, as carefully prepared by Mr Eskdale, the manager in viewof an impending change in the firm represented a surplus of assets over liabilities (after setting aside absolutely all known bad and doubtful debts) of £25,463 ; the value of the good-will, trade, name, connection of the firm, or private assets of the partners not having been taken into account either by Mr Eskdale or the auditors. In addition to this it must be mentioned that when stock was taken in July, immediately after the agreement for purchase by the present proprietors, it was found that, notwithstanding the unsettled state of affairs consequent on the death of Mr M’Carthy, the nett assets had increased by £1435. This profit was of course so much of an advantage to the purchasers, and is now included in the property which the Company takes. The whole of the property, business, and interests of the retiring firm are taken over for the sum of £23,000, but £9OOO of this amount is at present held on mortgage at 7 per cent, per annum, and will not be payable by the Company for five years. _ Since the present owners took possession the trade of the concern has gradually increased, and there are now on the books the names of 400 customers, 17 of whom, draw no other Colonial Ale or Porter, From the facts already stated, it is manifest that the enterprise is quite above the sphere of ordinary speculation which characterises new ventures. The Company enters at once on an established and profitable business, which has been well proved, and which offers a first class field for the co-operation of numbers and capital. The object in forming the Business into a Company is to secure the introduction of such an amount of capital as will at least equal the resources employed by Messrs Keast & McCarthy, and that the Business shall b« made more permanently profitable by including in the proprietary a number of the Hotelkeepers and the general public, all of whom will have an interest in promoting, directly and indirectly, the prosperity of the concern. As illustrating the success likely to attend the enterprise, it may be mem ioned that a Clin in Christchurch (Ward and Co.) disposed of their brewery business to a limited liability company, and so high Joes this company stand in the estimation of the public, that its shares, with £G paid up, are now selling at £9 to £9 10s. Many of the largest breweries in Europe, America, aud Australia, and the largest one in tire world (Bass’) are carried on by limited companies, aud with great success. The 9s per share to be called up within twelve months after allotment will give the Company an ample working capital, which will place it in a position to avail itself of additional steady basilic-s as eligible opportunities may arise, and in the meantime will be employed in saving Bank discount. The articles of association will limit the amount which the Directors can call up to 15s per share, but no more is required or intended to bo called up than as above specified. If further* or more detailed information be required apply at the Office of the Brewery, or to the Brokers of the Company, Every application for shares will be duly considered, but if no allotment be made the deposit will bo returned without deduction, and if a less number be allotted than applied for, the surplus portion of the deposit will go in reduction of the amount to he paid on allotment. Application for shares will bo received up to 28th February, 1882. Copies of the prospectus and forms of application can bo obtained from the Provisional Directors, the Brokers of the Company, or at the Brewery.