Page 4 Advertisements Column 2

Thames Star, Volume XVII, Issue 5238, 31 October 1885, Page 4

Companies THE AUCKLAND CO-OPERATIVE DRAPERY AND Clothing Company* Limited. CAPITAL... .... £50,000 IN 50,000 SHARES OF £1 BACH. Deposit on application, 2s 6d per Share ; I Allotment, 2a 6d per Share; after which Calls will be made (if required) of 2s 6d per Share at intervals of not less than Three Months. The following Gentlemen are the Promoters, and will act as Directors until the first Annual Meeting :— John .Buchanan E. W. Page ; W. L. Mitchell W. D. Buddie Gr. W. Binney John Fisher G. Harper Joseph Macky W. H. (Skinner S. Coombes Robert Fry BANKEES : ! Secbetaby, Pro. Tern. s . J. REN SHAW. Solicitous : RUSSJBLL & CAMPBELL. fPHIS Company has been formed for the X purpose of purchasing from Messrs Samuel Coombes and Co. their Freehold and Leasehold Property in Queen-street, Auckland ; also their Stock of Clothing, Drapery, and Mercery, and the Goodwill of the Business now carried on by them, and the Fixtures and Furniture belonging thereto. Also to carry on the said Business and Buy and Sell Merchandise in connection with the Soft Goods Trade ; to Sell the said Freehold and Leasehold Properties, to purchase others in lieu thereof or in addition thereto, and to do all things necessary or expedient for the above purposes, and that may from time to time be to the advantage and welfare of the Company. Messrs Coombes and Co. have offered to sell their Freehold and Leasehold Properties in Queen street (which adjoin each other) for £15,000. The Freehold Property has a frontage to Queen and High streets of 23 feet 10 inches, and is 178 feet deep. It has been let at a weekly rental of £14. The Leasehold Property in which the Business is now being carried on, has a frontage to Queen-street of 40 feet, and the rental payable is £20 per week. A portion of the Leasehold Property is sub let, returning £5 per week. The Lease has Six Years to run. These properties adjoin the premises of Messrs Upton and Co. and B; Tonks and Co., and occupy the best positions in Auckland for Retail Business. The above firm have also offered to sell the Company their Business and Stock of Clothing, Drapery, Mercery, etc., at cost price. Bad and Doubtful Stock and Fixtures and Furniture to be taken at a Valuation. The vendors have long held the premier position as leading house in the Retail Trade in this provincial district, and have done the largest Soft Goods Business in the North Island. Their only reason for making the above offer is that the Business has outgrown the resources of private individuals. 25,000 Shares have already been taken up by the promoters and others. Interest will be paid on the Capital Subscribed at the rate of 10 per cent, per annum, after which all Profits will be Divided equally between the Shareholders and Purchasers of Goods. By this system capital will reap a fair return for the money invested, and Purchasers will share in the Profits obtained in Propor* | tion to the amount of their Purchases. The rapid growth of the City of Auckland and the development of the surrounding districts has convinced the Proprietors that a Successful Retail Drapery Business can only be carried on by a Company with an Extensive Proprietary and Large Capital. To enable purchases to be made to advantage, Goods must bo bought for cash and in large parcels, and this can only be done where an extensive business is carried on, and sufficient capital is at all times available. It is proposed to conduct the business on cash principles, thus saving the cost of employing clerks, and the losses consequent upon bad debts. No preliminary expenses have to be incurred in the initiation and starting of the business. An extensive and profitable trade is already secured and now in operation, which only requires further development, and is capable of indefinite.expansion. It is intended to retain Mr Coombes' services as Manager, and his long experience in, and thorough knowledge of the trade, in addition to his large connection, will be of great advantage to the Company. The promoters can recommend the scheme with confidence to the public as a safe and profitable investment; one in which capital will meet with a fair return, while those who contribute to its success will receive a substantial share of the profits. Application for Shares, in the form annexed, may be made to the undersigned, care S. Coombes & Co., Queen* street. J. RENSHAW, Secretary pro tern.