Page 2 Advertisements Column 3

Waikato Times, Volume XII, Issue 1002, 23 November 1878, Page 2

New Advertisements. E. G. Lane, E-q , Chemist, Oamaru H. J. C. Edwards, Esq. Uamaru Dr. M'lntjrre, T miru K. Watkins, Eaq., Oh mist, Timaru B. S. Cook, tfsq. Cli mist;, Timaru C. D. Barraud. Esq.,ohetni>d;, Wellington J. A. Allen, Esq, Ctiemißc, Willinyton Edwin Pluinmer, E-.q , Chemist, Wel•ing'on J. Monteith, Esq., Chemist, Wellington Wm. Eife, Esq , Chemist, Wellington H. Britten, Esq., Chemißt, Wellington Frederick Wnite, Esq, Chemist Wellington Dr. Goidsbro', Auckland Dr. Bayntun, Auckland Graves Aickin, Esq., Chemist, Auckland J. P. Kins,', Esq., Chemist, Auckland FT. Hamilton, Esq., Chemist, Au"kland J. N. Manning, Esq., Chemist, Auckland J. Eclsoa, Esq., Chemist, Auckland J. S. Wolsmaa, Esq., Chemist, Napie J ' ■' BANKERS : THE UNION BANE OF AUS CRALIA. SoLrciTCRS : MESSRS; SEIVWRIGHT & STOUT. Valuators and Aumtoes : N. Y. A. WALES, Esq., WILLIAM BROWN, Esq. Imteei'.i Secuktakt : MR. JAMES HANNAY. This Company is projected for tho purpose of acquiring the well-known WholeBale Drug and General Business now and for many years snccessfully conducted byMessrs. Kempthorne Prosssr and Co. at Dunedin, Christchurch, and Auckland, and at Wellington, under the style of " Folton, Grimwade and Co." A preliminary agreement haa bees entered into between the firm and the Provincial Directors, residing in Dunedin, for the sale and purchase of the freehold and leasehold lands and buildings belonging to the firm, and now u«ed for the purpose of the business, at a price or value to be acerttined by the valuators, Messrs. Wales and Brown. It has been arranged that the now Company shall take over the plant, machinery, fixtnres, and entire stock-in-trade at the actual cost to ths firm, and all other the assets and liabilities of the firm. Orders in course of execution, and goods to arrive, are to be taken over at actual cost. The Company will also obtain the benefit of all the PA.TSNT AND PROPRIETARY ARTICLES on the same terms upon which these are now held, or manufactured by the firm, and also of all existing contracts and current business agreements, whicn the Company will undeitake and complete. The firm agrees to ta';e shares to the valu* of £50,000 fully paid-up (inclusive of 3750 shares allowed for the goodwill of the busin -ss). The Dunedin and Branch Houses are in full and complete working order, with good stocks, and all necessary appliances for carrying ou an extensive trade. Messrs T. W. Kempthorne and Evan Proseer have consented to continue the managej menb under the proposed new Company. ! The Wellington and Auckland branches are conducted by Messrs T. Ancell and J. W. Hentoo, who have been for many years in the service of the firm, and who are thoroughly competent and experienced men of busines'. T ne branches were established with a view to secure the local and general business of the firm's ordinary customers, and especially of tbe Chninists ahd Druggists throughout the colony—ohj c .•» wi ich have been satisfactorily atoned. Thp. Factory at Duoedio is manque !■>■. . dulj qualified Manufacturing ''hens f ex ensive European and Cd nia tor • Hence. The ( Steam Plant which is weil wot thy of inspection, is of thd very best class, with the most approved dru--grinding mills, and all modern applian'.-es for the manu- | facture of chemical and pharmaceutical I preparations. The promoters confidently place this undertaking-before the public as a bona fide, paying investment, and, in doing so, would instance the advantage of securing an old-established and lucrative business, with a large manufacturing and importing trade in full operation, as contrasted with the risk generally attendant upon new mercantile ventures. The rapid advancement of the colony opens a wide field for manufacturing industries in connection with this business, such as Sulphuric Acid Works, Artificial Manures, &c. It is, therefore, necessary that the present operations of the firm should be extended, for which a larger capital than the firm at presents commands will be required. Although the amount of £IOO,OOO to be called up is a larger sum than the invested capital of Messrs Kempthorne, Prosser and Co., yet the amount of money employed iu the business upon which interest was paid, was not much short of the amount now proposed to be called up, and, therefore, the promoters believe that—taking into consideration the Accountant's statement, as submitted in detail, also the fact that the firm have spent large sum of money in opening and organising their various branches and factory, and allowing for the increased trade which will, doubtless, be done under the auspices of the neAv Company, the shareholders may depend upon getting regular and good dividends. All the preliminary expenses in connection with floating the Company are to be paid by Messrs Kempthorne, Prosser and Co.

ACCOUNTANTS STATEMENT. "I certify that Messrs Kempthorne, Prosser and Co.'s books, from 28th January, 18G9, to 31st October, 1878, have been exhibited, to me. They have been kept by double entry, and systematically balanced on the 28th of February of each year, the profits being regularly added to capital. The annual stock lists have also been produced. Balance-sheets from Auckland and Wellington were also exhibited; the former extending back to 1872, and these documents are clear and business-like, and accompanied by returns of sales, "bill under discount, and other details, so as to shew fully the jjosition of the branch houses at each balance. " I have taken out and tabulated the results shown in the Dunedin books, and the balance-sheets referred to, and compared the profits at the end of each financial year with the sales made during the year, and, also, with the capital shown in the books at the Le<jiimin«- of the year, and find the following average results for the four years ending 28th February, 1876: " Ist. The net profits on the cost values of the sales for the last four years, equal .. .. 15.320 per cent. " 2nd. The average net profits on the average capital, equal.. .. 23.08 per cent. " WILLIAM BROWN, " Accountant. '•lst November, 187 8." Forms of Application for Shares can bo obtained at the Union Bank of Australia and its Branches throughout the Colony ; from the Secretary, at the firm's offices Stafiord street, Dunedin; High street, Ohristohuroh ; Lambton Quaj-, Wellir'stun ; and Shortland street, Auckland. Sc ~ ' Applications will be considered in ih.Q order in which they arc received. The Share List will close on. t&e 30th JN ovember inst,