Page 15 Advertisements Column 3

Sun (Auckland), Volume IV, Issue 962, 3 May 1930, Page 15

An Outstanding Investment! Offering Exceptionally Generous Yield and Excellent Security. ISSUE OF 9% CUMULATIVE PREFERENCE SHARES FREE OF INCOME TAX. HOTEL SAVOY LTD SYDNEY, NEW SOUTH WALES. CAPITAL: £200,000. Divided into 200,000 Shares of £ I each, as under: 80,000 Cumulative Preference Shares, 90,000 Ordinary Shares, 30,000 Shares in Reserve. Of the above 50,465 Preference Shares and 71,817 Ordinary Shares have already been subscribed in Australia. DIRECTORS: SIR ARTHUR RICKARD. K.8.E., Sydney. Chairman of Directors Hotel Sydney. Chairman of Directors Hotel Ranelagh (Country Club), Chairman of Directors Hotel Windsor. Melbourne. OTWAY R. FALKINER, of Boonooke Station, the world-famous Merino Stud Farm. N.S.W. E. J. TAIT. Escf.. a Director of J- C. Williamson. Ltd., Sydney. ROBERT WALDER, Esq., Proprietor of Exchange. Rose Bay and Punchbowl Hotels. Sydney. BANKERS: The National Bank of Australasia. Limited. Head Office, Sydney. ARCHITECTS (in Association} : Messrs H. E. ROSS & ROWE. Consulting Engineers and Architects. Sydney. Messrs. PLOTTEL. BUNNET & ALSOP, 3 1, Queen Street, Melbourne. REGISTERED OFFICE: Watson House, NEW ZEALAND SECRETARY: H. F. < Street, Auckland. SOLICITORS: Messrs. SEPTIMUS G. ROWE & COMPANY, 84, Pitt Street. Sydney. AUDITOR: E. S. WOLFENDEN. Esq.. F.C.A. (Aus.), A.I.A. (London!, Chartered Accountant (Aust.), and Consulting Actuary. Mercantile Mutual Building, 1 17, Pitt Street, Sydney. >-13, Bligh Street, Sydney. ). TWIGDEN, National Bank Buildings, Fort The New Zealand Quota of this Profitable Issue is limited to 25,000 Cumulative Preference Shares at 9%. Payable 2/6 on application, 2/6 on allotment, And the balance in calls not exceeding 2/6 per share at intervals of not less than one month. Objects: The Company has been formed and already' registered, and its principal object is the reconstruction of the wellknown " Daily Telegraph ” building into a luxurious residential hotel, to be known as the “ Hotel Savoy." The contracts for reconstruction were let last November and the Hotel will be opened in June. The present “ Daily Telegraph ” building is well known as one of the finest edifices in Sydney, and stands on a site unrivalled for the purposes of a high-class hotel, on the corner of King and Castilereagh Streets, in the heart of Sydney. It is soundly constructed of brick and stone, and when the proposed structural alterations have been completed, the Hotel Savoy will undoubtedly rank as Australia’s leading hotel. The purchase price at £305.000 is a very favourable one. as the Company has obtained a valuation from Messrs. Richardson fit Wrench. Limited, of the land, and from Messrs. H. E. Ross & Rowe of the existing building. These valuations aggregate £379,300 or £74,300 more than the Company has paid for the property. Originals of the two valuations may be inspected at the Registered Office of the Company. Summary of Estimated A nnual Profits: The following estimates have been very carefully prepared by' the Directors and other competent persons, partly from information at their disposal, partly from their own considerable experience, and partly on the advice of experts. The statements have also been subjected to an independent critical analysis and examination, and are now put forward by the Directors with_ confidence as the anticipated trading suit: of the established business. Estimated Annual Income . . Estimated Annual Expenditure Net Profits Available for Distribution . . £24.834 he above sum would be sufficient to provide for D dn as under: Preference Shares, 80,000 at 99© per annum £7,200 Ordinary Shares. 90.000 at. say, 15 Co per annum . . . . . . . . £13,500 Absorbing n total of .After which there will remain a sur available for further distribution, or Reserves to pay off Establishment Preliminary Expenses, amounting to £20,700 Profits of Other Leading Sydney Hotels The Hotel Sydney was opened in 1912. The Company was reconstructed in 1923. when two new shares were distributed for each share held prior to reconstruction, and has been paying 109© for a number of years. Usher’s Metropolitan Hotel. Ltd., was registered in 1913. and reconstructed" in 1920, when ordinary shareholders received two new shares for each share previously held, and is still paying handsome dividends. Hotel Metropole. Ltd., was also reconstructed in 1920, when five new shares were distributed for every four shares in the old company, together with a cash dividend. Present value of shares, £l/11/6. The Australia Hotel Company, Ltd., credited out of Reserves a sum of 10/- per share on 50.000 shares in 1920, and a further sum of 12/6 per share on 126,866 shares in 1925. The high dividend rate is being maintained. The Directors of Hotel Savoy. Limited, are therefore confident that the Company, under skilful management, and with its greater advantages of location and structure, will achieve success at least as great as that of its contemporaries. Hotel Savoy will be Linked With New Zealand Hotels The Company has been fortunate in that MR. ELIOT DAVIS has consented to act in an advisory capacity in New Zealand. Arrangements are in course of completion for linking up THE HOTEL SAVOY on the chain system with the highest class hotels throughout Australia, while in New Zealand negotiations have been completed with the proprietors for the linking up of AUCKLAND'S WELL-KNOWN HOTELS, the GRAND and CARGEN. and the GRAND HOTEL at ROTORUA, and it is hoped in the near future to further link up throughout New Zealand’s main centres. No Loading issue is being offered to the public wi , no promoters' shares, no loading of a APPLICATIONS FOR SHARES. As there is only a strictly limited number of shares available to New Zealand investors, early application should be made to the Brokers, Messrs. Colbeclt & Griffiths, 201 N.Z. Insurance Buildings, Queen Street, or to any member of the Auckland Stock Exchange.

Talking pictures have reached out once more into the musical field to capture this time a rich booty in Rudolph Friml, composer of “Rose Marie.” the Vagabond King,” and “The Three Musketeers.” Friml's first assignment under a contract with United Artists will be the musical score for “Bride 66,” to be produced by Arthur ITammerstein in association with .United Artists.