Public Notices PROSPECTUS CF THE Kaiapoi Woollen Manufacturing Company, Limited. CAPITAL, £IOO,OOO, IM 4000 SHARES OF £25 EACH. DIRECTORS : Isaac Wilson, Eaq., Chairman, G. H. Blackwell, Esq.,E. Parnham, Esq., And Two to be Elected after the Allotment of New Shares. BANKERS : Bank of New Zealand. SOLICITORS : Messrs. Garrick and COWLISHAW, Registered Office ... ••• ••• Charles Street, Kaiapoi. THIS Company was established in. July, 1878, with a capital of £15,000 in 15 shares of £I.OOO each, to carry on the business of Woollen Manufacturers, and accepted the offer of the Hon. J. T. Peacock, for the purchase of the Premises and Plant of the Canterbury Spinning, Weaving, and Fibre Company at about half its original cost, since which, considerable addition s have from time to timebeen made tothe buildings and plant, the latter now comprising four sets of Carding Engines, and thirty-five Looms with necessary machinery, which, with the addition of machinery just arrived, makes the plant u ell-proportioned and very complete. The sum of £1,200 has been paid since stock-taking, for last additions to buildings and machinery just received per Loch The Manufactory, with the addition of the machinery per Loch Awe, though com- | plete in itself, will not however enable the Company •to meet the greatly increased demand which has arisen for their goods, although, as hitherto, continuing to run a largo portion of the machinery night and day, and having conclusively proved that the present heads of departments are capable of-working a Mill twice the size of the present one at a saving of at least £2,000 a year on the general working of the Company’s business, they have with a view to providing extended premises and appliances, decided to increase the Capital from £15,000 to £IOO,OOO, the whole to be represented by 4000 shares of £25 each, of which the existing shareholders will be entitled to 825 fully paid up, in exchange for the shares now held by them (including the accumulated profit thereupon amounting to £3,744) ; of the residue, the Directors propose to issue at present only 1,600. The increased capital will be applied to the following purposes, Viz Paying off existing mortgage of £7,400 ; enlarging present premises and plant; establishing premises in Christchurch ; and for.the general purposes of the Company. The following may be enumerated among'the special advantages in favor of Shareholders, viz. The original plant was purchased at about half-cost, the staff is now well-trained and efficient, which will obviate the difficulties and avoid a repetition of the losses experienced during the first eighteen months of the Company’s operations, j while the whole of the dead stock was cleared out previous to stock-taking, July Ist, 1880. A good and safe business has been developed, which is steadily increasing, and is capable of being worked up to a much greater extent. All the risks and expenses connected with the formation of a new company will be avoided, and, as can be seen by a perusal of the last balance-sheet, the new Shareholders will at once enter into possession of a good paying concern. The present Shareholders shew their faith in the concern in the most practical manner possible by taking the amount of £3,744 (accumulated profit, equal to 16 per cent, per annum on the paid up Capital) in fully paid up shares, instead of drawing the amount which they are entitled to do. The Company now offers to investors an opportunity to develop a Colonial Industry which has established for itself a good reputation and meets with popular support, and which will, it is expected, shortly employ about 400 hands, and at the same time securing to Shareholders a good return for the Capital invested. Intending Shareholders can obtain any information, with an order to view the Factory, from the Directors, or on application at the Office of the Company. The Share List will close on October Ist, 1880. In making the allotment the Directors will take into consideration the order in which the applications are made. The sum of £1 per share will be payable on application ; £2 10s. per share on allotment ; and the balance in calls of not more than 50s. per share at intervals of not less three months. ■ In this manner the time for fully paying up will be extended to hot less than two years and three months. All Applications with £1 per share deposit, to be forwarded to the Chairman of Directors nob later than October Ist, 1880. BALANCE SHEET, JUNE 30, 1880. LIABILITIES. ' Paid-up Capital, viz.15 Shares of£l,ooo each ... Mortgage to the Hon. J. T. Peacock Bills Payable ... Debts due to sundry tradesmen... Interest on Mortgage, halfyear Advances on Wool Shipments George Ramsden (Loan) ... Cash due Bank of New Zealand Profit and Loss Balance ... £ 15,000 o s. d. 7,400 o 40 19 282 333 700 o o 658 15 o 2, *24 12 3,744 7 ,£30,283 17 9 ASSETS. By Freehold Land... ~ Buildings Account ,£3,993 I? 8 Less depreciation, 59 18 I £ 354 s.i d. 1 6 Plant Account 10,273 4 Less depreciation, 256 16 3,933 19 7 Stocks on hand— Wool ... 4,840 Manufactured and in process Oil Coal Soap Materials Dye Goods 5,924 18 39 17 35 o 76 o 29 o 400 o 11,344 17 n 3,680 2 o Sundry Debtors Wool Shipments— Ex Waimate 5 10 5 7 Ex Waitangi 411 14 4 Loom Cash and Petty Cash 32 9 2 £30,283 17 9 STATEMENT OF PROFIT AND LOSS ACCOUNT, For Half-year ending June 30, 1880. To loss on goods sent to Sydney Exhibition ... Depreciation on Plant and Buildings ... Repairs Account Wool used in Manufacture Oil Account, LiSs 55.; Coal, L 466 4s. 6d. ; Soap, LlO9 9s. 6tl. Ma'erials Account, L 139 9s. gel.; Dye Goods, L 321 12s. I id. ... Insurance Account Wages ~ Interest ~ Discount ~ General Expenses Balance £ s. cl. 71 19 8 3x6 14 8 88 4 5 3,184 6 3 760 19 o 452 2 90 o 3,082 5 856 2 44.7 18 380 1 3,744 7 £13,475 2 1 By Balance, December 31, 1879 ~ Profit on Wool, Shipment No. 1 ~ Profit on Wool, Shipment No. 2 ~ Manufactures Account £ 1,041 s. cl. 7 x 301 12 ii I S° 11,982 £13,475 2 r Examined and found correct. W. P. WILSON, Auditor. Forms of Application may be obtained by applying, either personally or by letter, at the Offices of the Company. ISAAC WILSON, 1230 Chairman of Directors. ASHBURTON COUNTY COUNCIL. APPLICATIONS are invited-/from competent persons willing ito act as FERRYMAN at Lower Rangiffata for one 3 r ear, on a subsidy of £BO peiyannum, together with all fees paid according to the schedule as hereinafter mentioned. Applications, with reference®, endorsed “ Ferryman, Lower Rangatajia,’’ will be received at the Council’s Oftpes, Ashburton, up to 11 mm. on YffIEDNESDAY, the Ist day of Beptemberlrlßßo. Duties to commence on the 4th September, 1880. Two sureties tor £25 tdjTbe provided. SCHEDULE m FEES. Cattle or ho|ses, driven or led in a mob, Gd. per head. g Passengers Ifordegr on horseback, 2s. each. > Horses forded including horse and rider), 3s. leai - Vehicles, 5a.«.(%ch. By order, F. MAINWARING, Clerk. Ashburton, July 27, 1880. 718c-82g Business Notice. NOTICE TO FARMERS AND OTHERS. TITHEN you want any Copper, Zinc, V Iron, or Tinware made or retred, it will ho to your interest to conit JOSEPH HYDE, Moore street, Ashburton, And he will cure all complaints cheaply. W. H. BRISTOW, A UTHORISED GOVERNMENT SURVEYOR, Business Notices. FARMERS ! FARMERS ! FARMERS ! R. McKERROW AND CO., Cash Purchasers of Wool, Grain, and all kinds of Farm Produce, and are Iso prepared to make Liberal GASH ADVANCES on the above placed in their hands either for sale or shipment to the English or Colonial Markets. A Large Stock of Cornsacks, Woolpacks, &c., for sale at lowest current prices. R. McKERROW & CO., GRAIN MERCHANT 3. RAKAIA. 36 LATEST STYLES FROM LONDON & PARIS. Craighead & Co. } Merchant Tailors, TANCRED STREET. (Next Orr & Co.) PERFECT FIT GUARANTEED. 982a-446a TO FARMERS. Licensed Under Land Transfei' Aet. Ford and NeWton’o Buildings, (next County Council offices, Hereford street, Qhristchurch. 104 a THE UNDERSIGNED are CASH PURCHASERS of WHEAT, OATS, and BARLEY, and are prepared to SHIP WHEAT-, to the English markets oh farmers’ account at the lowest possible cost. P. CUNNINGHAM & CO. , 5610 Ashburton and Christchurch.
Permanent link to this item
Page 3 Advertisements Column 4, Ashburton Guardian, Volume 1, Issue 142, 21 August 1880
Page 3 Advertisements Column 4 Ashburton Guardian, Volume 1, Issue 142, 21 August 1880
Using This Item
See our copyright guide for information on how you may use this title.