Page 7 Advertisements Column 5

Taranaki Daily News, 8 July 1920, Page 7

ABRIDGED PROSPECTUS OF THE GREAT,WESTERN TIMBER CO., LTD, (TO BE INCORPORATED UNDER "THE COMPANIES ACT, 1908.") r CAPITAL' ~ £125,000. DIVIDED INTO 125,000 SHARES Off £1 EACH. Issue of 90,000 Ordinary Shares, of which 2s fld 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 mrnth. PROVISIONAL I)IRECTORS: BRADLEY, HAROLD GLADSTONE, Merchant, Christchurch. : ' BRIDGE, HENRY POYNTON, F.P.A., N.Z., F.1.5.V., Public Aooountent &* Auditor, Christchurch. DALE, FREDERICK EVERARD, Solicitor, Christchurch. HILL, HERBERT GLADSTONE, Company Manager, Christchurch. SSSSF* JOHN Jun.,*Coal Merchant, Christchurch. ROBINSON, WILLIAM HERBERT, J.P., Timber Merchant, Christchurch. -. * BANKERS: , ' 1 THE BANK OP NEW ZEALAND, OHRISTCHURCa SOLICITORS: ' ;•, SLATER, SARGENT AND DALE, 93 Worcester Street, Christohuroh. INTERIM SECRETARY: JOHN HENRY STRINGER, A.1.A., N.Z., Public Secretary and Auditor, Cathedral Square, Christchurch. BROKERS:/ tf. S. S. MEDLEY, Egmont Street, New Plymouth. FRANK GRAHAM AND SON; Hereford Street, Chrktchuroh., AUDITOR: J. W. K LAWRENCE, F.P.A., N.Z., Public Accountant, Ctolrtctouob/ , PARTICULARS OF THE PROPERTY. * The Company is being formed with the object (inter alia) of acquirfilg tot sawmilling purposes all the estate and interests of William Herbert RoblMou, HaroM Gladstone Bradley, David James Smith Diedrichs, Frederick Everard Dale, William Keller, H. Gladstone Hill, Alfred Charles Hullett, and John HaMfon Wilson, in all those pieces of land situated at or near Okarito, South Westland, held by License or other Titles under "The Mining Acts" end Regulations thereunder, and issued out of the Warden's Court at Okarito under the hand of thq 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 thu shores of the Okarito Lagoons 2000 acres just on the south side of the Uttt» township while 4000 acres are further north. With regard to the 6000 acres ■ adjacent to Okarito, Mr. Gideon Anderson, Crown Lands Ranger, now Forestry Inspector, estimates that there is 80 per eent Rimu, 17 per cent. White Pine, the balance being Silver Pine, Totara and Matai. He further estimates that this area, will averge 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 thi*. both as to the length of the bole and the number of trees to the acre. The average length of the bole of the trees in the forest inspected was estimated to be not less than 80 feet, while some of theni 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 tip 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 down-grade to tho water, rolled in, and towed to the mills that will be erected at the port. As soon as it is sawn it will be shipped direct on 'to the boats. Mr J. Blair Maspn, 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 port in its present state getting the timber out is certain. The timber content of s the forest areas over which the Vendors hold milling rights is estimated at three hundred million feet. Computed at" jCI per hundred this means that the Company will start out with an asset that should be worth £3,000,000. REPORTS. ! Extracts from the reports of MR. H, GLADSTONE HILL as to the proposition generally; MR. J. BLAIR MASON, the well-known consulting engineer, as to the port facilities; and MR. T. D. M'LEAN, civil engineer, as to the quantif 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, »i Hokitika, sheep farmer, of the. third part, Frederick Everard Dale, of Christchurc'i, solicitor, of the fourth part, William Keller, of Hokitika, hotelkeeper, of the fifth. part, Herbert Gladstone Hill, of Christchurch, timber manager, of the sixth part, Alfred Charles Hullett, of Christchurch, timber merchant, of the seventh par:, 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 agree 4to sell, and the said Fr«nk ■ 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 £1 shares in the Company to the persons and in. the proportions hereinafter named:— (a) To the said William Herbert Robinson .or his Nominees, -11,032 shares. (b) To the said Harold Gladstone Bradley or his Nominees, 3015 shares. (c) To the said David James Smith Diedrichs or his Nominees, 3015 shares. (d) 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 labor 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 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 are 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 be 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. x . T ' ,e a. mmoultu ' lt &*'& by the Articles of Association as the minimum subscript tion of this issue is 10,000 shares. • Except as above stated no shares are issued or agreed to be 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 theDireotors who are interested in the promotion of the Compart* " receive their proportion of the fully paid-up shares to the extent of £28,000 as above .mentioned. In addition thereto H. Gladstone Hill is interested in th7pr£ motion of the Company, and the Company will pay a commission at the rate o5 subscriTion *" '"" '° U ***** ° f h 8 ° r the br ° ker shall P"*"™ *>><» Copies of the above-mentioned Contract, Licenses and Certificates, and of the Memorandum of Association and Articles of Association of the proposed Company may be inspected at the office of the solicitors of the Company duninir the Muai business hours Application for shares should be made on the prescribed fornvana: forwarded with a remittance of 2s Od per share to the Company's: broker or bankeis. Where no allotment is made the deposit will be returned in full Prospectuses may be obtained from, and applications received bv 'anv BntuM of the Bank of New Zealand-Mr. J. S. S. Medley, Egmont Street, New PlymouK or Messrs. Frank Graham and Son, Christchurch, Chief Brokers for New ZeK FORM OF APPLICATION FOR SHARES. Great Weatern TimW Coß^-tw - - * 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 day of June, 1920, and I hereby agree to accept the same or any less nuttiber that may be allotted to me. •- I enclose herewith cheque for £ e. d„ being the amouiifc 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 (2s 6d) 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 Ml acts and things necessary to register me as the holder of the Shares so allotted. Name in full J r. rt .-...,„„_„_„ ._.'''" . % •9*it)wvm»emiK»w*tmrf Description Dated the -. *. day-of m, 192..„. t Signature nwi.in l immMi M . a > Tr ,. inM>ttri)]l . i t