Page 6 Advertisements Column 1

Taihape Daily Times, Volume XI, Issue 3501, 12 June 1920, Page 6

A I on . THE, WANGANUI WOOLLEN MILLS, LTD. I (INCORPORATED UNDER "THE COMPANIES ACT, 1908.”) . CAPITAL REGISTERED OFFIC ll‘- - it MARIA PLACE, WANGANUI, N.Z. . I In 200,000 shares of £1 each, of which 120,000 are now offered to the public for subscription on the following 'terms:—2s. per share on application, 2s, per share on allotment, and the balance in calls of not more than 25. per share, which are only to be made payable with an interval of at least three calendar months between the date of allotment and the first. call, and thereafter with intervals of at least three calendar months between each call. .——-———-—--—*-'''‘'‘E ‘ PROVISIONAL DIRECTORS: - 1, W, J_ POLSON ,of Wanganui, Farmer. Director for New Zealand of Bristol and Dominion Producers’ Association 2, JOHN STEVENSON, of Wanganui, Manager of. The New Zealand Loan ande_l\/lercantile Agency Company, Ltd. 3. G, N. BAGGETT, of Vvanganui, Farmer, Managing Director of the Slmplex"Milking Machine Company Ltd. 4. ALLAN ROBINSON, of Wanganui,KFarmer, Chair-Inau_ of the Wanganui County Council. 5. PERCY HIGGINBOTTOM,, of VVallgflrllli: Mmlaging D”°‘?*°“ 01' Pu‘-‘Sel“'S.~ Lilnited, Furnishers--3_ S. M_ DAVIS, of wanganui, Directof of Freeman R. Jackson and Compauv. Limited, Stock and Station Agents, Wanganui ' _ _ , V _ _ _ _ '7. G. L. MARSHALL, of Marton, Farmer, President Oi the Wellllli-’.ion Provincial Farmers’ Union 8. J. A. DOHERTY, of Wellington, Merchant Tailor ’ Who will hold office until the conclusio-n of the statutory meeting at which the permanent directors will be appointed. BANKERS: - THE NATIONAL BANK OF NEW ZEALAND, LTD. SOLICITORS: MARSHALL, HUTTON, AND IZARD, Wanganui. INTERIM SECRETARY AND .BROKER: E. M. SILK, F.1.A..N.Z. of Silk. Haworth. and Company, No. 44 Maria Place, Wanganui. INTERIM AUDITOR: - HAROLD HAGUE SMITH, A.P.A., N.z._. wauganui ' MINIMUM SUBSCRIPTION: The mininlum SubSoriD’Cion 011 Which the Dirtectors may proceed to allotment, is thirty thousand shares; but prior to the issue of this Prospectus or any offer of shares t o the public, shares amounting to such minimum silhsCl'ipl'.lollS had already been applied for_ OBJECTS: The Company has been formed for the purposes of establishing a Woollen Mill or Mills in or near Wanganui and elsewhere as may be considered advisable from time to time by the Directors, and to carry on the businesses of Woollen Manufacturers and any other businesses provided for by the Memorandum of Association. GENERAL. ~ Wanganui offers an admirable situation for the establishment. of a Woollen Mill_ It is the outlet for a large Wool-growing district, from which annually at present large quantities of wool are exported. It is conveniently situated with regard to the railway system for the collection of raw material and the distribution of Its products, and with the development of the harbour and shipping, it may be expected to be a similarly convenient port with regard to coastal and overseas imports and exports. Its population is now approaching towards 22,000, and its development is rapid, and it promises to "be a a centre of a large and ever-growing population. It affords admirable pros pects for industries of all kinds re-quiring the employment of labour. The Borough Council of Wanganui has been approached as to the supply of electric power, and has replied that by the time a Mill may be expected to be ready to commence operations, The Council anticipates, being able to sell-such power as would be required by the Mill. This constitutes a great inducement to the establishment of the Mill in Wanganui within reach of such power. The alternative to electric power would be steam power, which would be more costly both as regards initial expenditure in buildings and plant, and also as regards operating ex pense, -because of the extra labour involved and the price of co-al. Ample water for the use of a Mill is also available in Wanganui. , In view of the general unsettlement in industrial life all over the world caused by the War, and the rise in industrial wages to be expected in those countries from which New Zealand has hitherto drawn her woollen manufactures, and the contemporaneous increase in freights, it may be expected that New Zealand will find it necessary to no longer rely on getting such manufactures from abroad, produced under the hitherto existing conditions of low wages, but to set to work herself and manufacture her own wool for her own use or export, thus saving double freight and providing employment for her population. In New Zealand, industries have hitherto been handicapped by the competition of the low wages paid in other countries. It appears beyond question that the ‘War and the unsettlement is has caused have removed the handicap under which our industries have so suffered, and this affords them an Opportunity For development with alluring prospects of prosperity. This applies in special measure to the woollen industry, and it is for these reasons that the project‘ of the establishment of a Woollen Mill is now launched. . New Zealand is by no means over-run with such Mills, indeed, the existing Mills are quite unable to cope with the demand for wollen goods. There is, therefore, it is thought. an ample opening for the establishment of such a Mill in Wanganui. Attention is drawn to the fact that unlike most new ventures there lS absolutely no Loading in connection with the Company. All the Capital subscribed. except the preliminary expenses and brokerage undermentioned will be employed in erecting and equipping the Mills or Mills. No Director has any interest in the promotion of the Company_apart from the shares he subscribed for, for which he _will pay in cash. , '4 The three existing woollen manufacturing companies in the Dominion are in a flourishing condition, as the prices of the shares, as shown below, indicate; and the promoters confidently look for a similarly successful career for this Company. * . Name of Company. Paid Up_ Market Price at 27th April, 1920. Kaiapoi Woollen Manufacturing CO,, Ltd. £5 £lO 0s 0d (Buyers, no Sellers) . Mosgiel Woollen Factory Co., Ltd. £3 10s £6 17 6d (Buyers, no Sellers). . \V'ellington Woollen Manufacturing Co., Ltd., £4 10s £9 15s 0d (Buyers, no Sellers.‘ The preliminary expenses of, and incidental to, the promotion and esrfablishment of the Company and until the Company shall be entitled-to commence business (exclusive of brokerage o-r commission on sale of shares, but including a sum to be paid to Mr R. D. Macdonald, a W'oollen Manufacturer recently from Scotland, for her-vices rendered and to be rendered by him the Company in furnishing data and assisting in the promotion of the Company) are estimated to amount to Five Hundred Pounds, and will be paid by the Company. Th‘? Company will have power to pay any persons (including DT2-ectors) procuring the subscription of shares at the rate of. 5 per cent. on the nominal amount of such shares. ‘Application for shares may be sent, together with the amount payable on application, to the Company ’s Interim ‘Secretary, or to anyof the Provisional Directors or other persons antliorised by the Directors to receive applications. If no allotment is made the deposit will be returned in full, and it the number of shares allotted on any application is less than the Illll‘.".bE’i' applied for the balance of the application money will be applied in reductiin -of the allottee’s future liability on the shares allotted. Applications will not be received for less than 20 shares. r Intending shareholders are particularly requested to carefully fill in the particulars in the application forms regarding nationality, as the Company cannot be registered until the authorities are satisfied as to the nationality of every shareholder. This Prospectus has been filed with the Registrar of (Lompanies. Dated this Nineteenth Day of May, 1920_ ‘ D ( " FORM OF A- PLECATE )N FOR BHARES. To the Pl'OVl>'lOl’ldl Directors of WANGANUI WOOLLEN MILLS, Ll li/iiTED. P.EGIS'i"ERED CAPITAL: £200,(lO(l. DIVIDED INTO ;’0.0.00() S'll.\l’{ES OF £1 EACH. REGISTERED O‘FI<‘ICE:4-1 MARIA. PLACE. XVANGANUI. -Gentlemen,—M‘ I hereby authorise you to allot me Shares in the above Company in terms of the Prospectus issued in relation to the said (fompany dated the Nine- f peenth day of lVla_v. 1920. and I hereby agree to accept the saint-I or any less number oi‘ Slim-es that may be allotted 0 me. D ' l'<l‘-11D€U/lug the sum of the amount payable on application for the said Shztws (25. per share), and T agree to pay a further sum of 2s. per share on allorinr-nt. and the balance as provided by the said Prospectus. And I T€"lliPst and :!.lllllOl'lSf3 you to register me as the holder of the Shares so allotted. - Mllll6 in full Description or Ocupation Informa- - ‘ p fie“ ~e_ Father-‘s Full Name (“med um’ Bi:-tliplaceofliather.................. 0 ‘ -‘War regu- Mothel-:5 Fllll Maidenblame lations. ' Birthplace 05 M0319’ . . Signature. I hereby certify that the above particulars are correct. NOTE.——In filling in Birthplace it 5 Sllfficient to name the Country, and there is no need for particulars of town 01' country. i I.