Page 6 Advertisements Column 2

Taihape Daily Times, Volume XI, Issue 3518, 3 July 1920, Page 6

ABRIDGED PROSPECTUS OP THE GREAT WESTERN TIMBER COMPANY, Ltd. (TO BE INCORPORATED UNDER “THE COMPANIES ACT, 1908.”) CAPITAL - £125,000. DIVIDED INTO 125,000 SHARES OF £1 EACH, Issue of 90,000 Ordinary Shares, of which 2s 6d per Share is payable on Application, and 2s 6d per Share on Allotment, and the balance in calls of not more than 5s each at intervals of not less than one month. PROVISIONAL DIRECTORS: BRADLEY, HAROLD GLADSTONE, Merchant, Christchurch. BRIDGE, HENRY POYNTON, P.P.A., N.Z., F.1.5.V., Public Accountant and Auditor. Christchurch. DALE, FREDERICK EVERARD, Solicitor,. Christchurch. HILL, HERBERT GLADSTONE, Company Manager, Christchurch KEDPATH, JOHN ALEXxVNDER, Jr., Coal Merchant, Christchurch. ROBINSON, WILLIAM HERBERT, J.P., Timber Merchant, Christ- j church. BANKERS: THE BANK OF NEW ZEALAND, CHRISTCHURCH. SOLICITORS: SL 4T ER, SARGENT AND DALE, 93, Worcester Street, Christchurch. _ INTERIM SECRETARY: JOHN HENRY STRINGER, A.I A., N.Z., Public Secretary and Auditor, Cathedral Square, Christchurch. BROKERS: FRANK GRAHAM AND SON, Hereford Street, Christchurch. j SILK. HAWORTH & CO., 44 Maria Place, Wanganui. AUDITOR: J. W. K. LAWRENCE, P.P.A., N.Z., Public Accountant, Christchurch. PARTICULARS OF THE PROPERTY. The Company is being formed with the object (inter alia) of acquiring for sawmilling purposes all the estate and interests of William Herbert Robinson, Harold Gladstone Bradley, David James Smith Diedrichs, Freder-, ick Everard Dale, William Keller, H. Gladstone Hill, Alfred Charles Hullett, and John Hamilton Wilson, in all those pieces of land situate at or near Okarito South Westland, held by License or other Titles under “The Mining I Acts” and Regulations thereunder, and issued out of the Warden’s Court at Okarito under the hand of the Warden of the Westland Mining District and the Seal of the Warden’s Court. Okarito is 55 miles by sea south of Hokitika. There are approximately 10,000 acres over which the Vendors have the milling rights; 4000 acres on the shores of the Okarito Lagoon; 2000 acres just on the south side of the little township while 4000 acres .are further north. With regard to the 6000 acres adjacent to Okarito, Mr Gideon Anderson, Crown Lauds Ranger, now Forestry Inspector estimates that, there is 80 per cen.t Rimu, 17 percent White Pine, the balance being Silver Pine, Totara and Maitai. He further estimates that this area will average 30,000 feet to the acre. The Ranger has given permission to state that he considers there is no bush in Westland that will compare with this, both as to length of the bole and the number of trees to the acre. The average length of the hole of the in the forest inspected was estimated to be not less than 80 feet, while some of them were 120 feet. From the sea level at Okarito to the head of the Lagoon there is a rise of 20 feet. From the edge of the Lagoon up to the boundary of the area over which the Vendors have the rights there is a gradual rise of 100 feet. This is over 4000 acres. The timber will be cut, hauled on a slight downgrade to the water, rolled in, and towed to the mills that will he erected at the port. As soon as it, is sawn it will be shipped direct on to the boats. Mr J. Blair Mason', M. Inst. C.E., M. Inst. Mech. E., M. N.Z., Soc. C.E, the well-known Marine Engineer, visited Okarito, and his reports thereon are an interesting account of the possibilities of working the port. His conclusion is that with boats to suit the ports in its present state getting the timber out is certain. The timber content of the forest areas over which the Vendors hold milling rights is estimated at three hundred million feet. Computed at £1 per hundred this means that the Company will start out with an asset that should be worth £3,000,000. 1 REPORTS. I Extracts from the reports ofi MR H. GLADSTONE HILL as to the pro- . position generally; MR J. BLAIR MASON, the well-known consulting engin- I eer, as to the port facilites; and MR T. D. McLEAN, civil engineer, as to the quantity and.nature of the timber, are incorporated in the Prospectus. ; PARTICULARS OF CONTRACTS, ETC |

Contract dated 13th day of May, 1920. between William Herbert Robinson. of Christchurch, timber merchant, of the first part, Harold Gladstone Bradley, of Christchurch, merchant, of the second part, David James Smith Diedrichs, of Hokitika, sheep farmer, of the third part, Frederick Everard Dale, of Christchuch. solicitor, of the fourth part. William Keller, of Hokitika, hotelkeeper, of the fifth-part, Herbert Gladstone Hill, of Christchurch, company manager of the sixth part, Alfred Charles Hullett, of Christchurch, timber merchant, of the seventh part, John Hamilton Wilson, of Hokitika, commission agent, of the eighth part, and Frank Driessen Sargent, of the City of Christchurch, solicitor, of the ninth part, whereby the first eight persons named agreed to sell, and the said Frank Driessen Sargent, as Trustee, on behalf of this intended Company, agreed to purchase the properties described in the complete Prospectus for the sum of £28,000. payable as follows; By the allotment of 28,000 fully paid-up £1 shares in the Company to the persons and in the proportions hereinafter named: (a) To the said William Herbert Robinson or his Nominees, 11.632 ■shares (h) To the said Harold Gladstone Bradley or his Nominees, 3015 shares (c) To the said David James Smith Diedrichs or his Nominees, 3015 ■ shares fd) To the said Frederick Everard Dale or his Nominees, 3015 shares. (e) To the said William Keller or his Nominees, 3015 shares. (f) To the said Herbert Gladstone Hill or his Nominees, 2154 shares. (g) To the said Alfred Charles Hullett or his Nominees, 2154 shares. The vendors have spent very large sums in obtaining information, reports, grants, licenses, and marine surveys, whilst they have devoted months of close labour to the completion of the project, a share in which is now offered to the public. In doing this it will be noticed that they do not seek to be repaid in any cash, Whilst they undertake not to sell any of their shares for at least twelve months. The Licenses and Certificates for the sawmill areas, reservations and mill sites for 9905 acres described in the Prospectus The following are provisions of the Company’s Articles of Association: The remuneration of the Directors shall from time to time he determined by the Company in general meeting. The qualification of a Director shall be the holding of at, least 500 shares in the Company, and it shall be his duty to comply with the provisions of the Companies Act, 1908, section 70. The amount fixed by the Articles of Association as the minimum subscription of this issue is 10,000 shares. Except as above statell no shares are issued or agreed to he issued otherwise than for cash, and no debentures are issued or agreed to be issued. The preliminary expenses other-than brokerage are estimated at £SOO. Those of the Directors who are interested in the promotion of the Company receive their proportion of the fully paid-up shares to the extent of £28,000 as above mentioned, in addition thereto 11. Gladstone Hill is interested in the promotion of the Company, and the Company will pay a commission at the rate of five pounds per centum on alt shares of which he or, the broker shall procure the subscription. Copies of the above-mentioned Contract. Licenses and Certificates, and of the Memorandum of Association and Articles of Association of the proposed Company may he inspected at the office of 1 lie solicitors of the Company 7 during the usual business hours. Application for shares should be made on the prescribed form, and forwarded with a remittance for 2/6 per share to the Company’s broker or bankers. Where no allotment is made the deposit will be returned in full. Prospectuses may be obtained from, and applications received by, any Branch of the Bank of New Zealand; .Silk. Haworth and Co., 44 Maria Place, Wanganui, or Messrs Frank Graham and Son. Christchurch, Chief Brokers for New Zealand. FORM OF APPLICATION FOR SHARES To the Provisional Directors of The Great Western Timber Company, Ltd., and to H. Gladstone Hill, Christchurch. Gentlemen, —

I hereby request you to allot me Shares in the above-named Company upon the terms of the Company’s Prospectus dated the 9th c]ay of June, J 920, and I hereby agree to accept the same or any less number that may be allotted to me. I enclose herewith cheque for £ s. d. 7 being the amount payable on application for the said Shares, at the rate of 2s 6d per Share, and I agree to pay the further sum of TWO SHILLINGS AND SIXPENCE (2/6) per Share on allotment, and the balance as provided in. the Prospectus. And I request and authorise you to sign any necessary documents, and do all acts and things necessary to register me as the holder of the Shares so allotted. Name in full Address Description Dated the day of 192 Signature