Page 4 Advertisements Column 1

Westport Times, Volume VI, Issue 969, 10 May 1872, Page 4

Miscellaneous. >a os EOT U 8 SOUTH PACIFIC STEAM NAVIGATION COMPANY (limited). Capital—£2oo,ooo, In 20,000 Shares of £lO each ; £6 of which will be at oneo called up, viz , £1 on application and £5 on allotment. For the convenience of investors, one-half of the called amount may ho paid by bills .it three and six months, beaming 8 per cent, interest. f no allotment is made, the deposit money will be returned in'full. PIIOVISIONAL DIRECTOHS : Hon. Edward Cohen, M.P. ■Charles Croaker, Esq. (Messrs Croaker, Scott, and Co. Cluls. Ibhotson, Esq. (Messrs Dalgety, Ibbotson, and Co., Geelong). Hon. C. J. Jenncr, M.L.C. Captain Hugh Macmeikan It. Tweutymau, Esq. Bankers Union "Bank of Australia. Solicitors : Messrs Macgregcr, Eamsay, & Brahe. Broker: Mr John Watson. Secretary, pro tern.-. Mr Edward Langton, M.P. Temporary office : 68, Temple Court, Melbourne. The object of the Company is to procure aud maintain a fleet of firstclass steamers, to be employed in the trade between the several Australian Colonies and .New Zealand, and in such other branches of trade as may be considered advisable. * In the first instance, it is proposed to purchase the undermentioned wellknown vessels, now the property of Messrs M'Meckan and Blackwood, who are retiring from business, their partnership expiring, by effluxion of time, at the end of June next: — Omeo—B2o tons, 120-horse power. Albion—Boo tons, 100 horse power. Alhambra—76s tons, 140 horse power. Tarartja—692 tons, 155 horse power. Gothenburg; 674 tons, 120 horse power. Claud Hamilton—o6l tons. 100 hoive pow. r. Eangitoto—s74 tons, 140 horse power. Aldinga—447 tons, 140 horse power. Coorong—39o tons, 70 horse power These vessels are all registered at Melbourne. They have all- been recently surveyed by Mr William Duthie, late surveyor to the Southern Insurance Company ; Captain M'Callunv, surveyor to Lloyds'; and Mr Alexander Kirkwood, formerly foreman to Messrs Scott, Russell, and Co., •of Lotidon, and for years past superintending Engineer for the above steamships. The reports of these gentlemen show that the vessels have been kept in excellent condition, and are now in first-class order. They can be delivered to the Company, free from any incumbrance, as they arrive in the port of Melbourne, after the 10th of June next, without interruption to the several trades in which they are engaged. Jn addition to the steamships, Messrs M'Meckan and Blackwood will sell to the Company the land situated at the corner of Flinders and King streets, Melbourne, having a frontage of 59ft to Flinders street by a depth of 113 ft, upon which stands the offices and stores where the busiuess has hitherto been conducted, and other buildings let to tenants. The price at which the steamships, premises, and goodwill of the business are offered to the Company is £165,000, which includes all the spare gear, sails, yards, shafts, pi'opellers, machinery, &(*., whether on board or on shore, and all the stores and coal on board when they arrive; and also includes the cost of supplying boilers, condencers, and pumps to the Claud Hamilton, which have been already contrapted for. In the event of the loss of either of the vessels before delivery, a deduction from the purchase money will be made, according to a schedule approved by the provincial directors, and should any accident happen to either of them before delivery the damage will be made good by the present owners. There will be no promoters shares, and Messrs M'Meckan and Blackwood will pay the preliminary expenses. It is proposed to raise the required capital by 20,000 £lO shares, on which £6 will at once be called, and in addition to issue debentures for £50,000 bearing 6 per cent, interest. Messrs M'Meckan and Blackwood are willing to take £50,000 of the purchase money in shares of the Company, or such other amount as the provisional directors may determine on; or they will take £30,000 in shares and £20,000 in debentures. That the undertaking will bo eminently profitable to tbe shareholder* may be gathered from the fact that the net earnings of eight of the vessels named above for the year 1871 was £34,743. (The Albion was only lately, purchased, and did not leave on her first voyage till the end of December.) This profit was made after paying every charge, whether for working or