Page 7 Advertisements Column 6

Auckland Star, Volume LI, Issue 201, 23 August 1920, Page 7

ABRIDGED PROSPECTUS OF THE Pukekaroro Quarries Ltd. (To be Incorporated under the Companies Act. 1 SOS. and Its Amendments as a Company Limited by Shares.) DATED the 3rd day of August, 1020. Filed with the Registrar of Joint Stock Companies. Auckland. CAPITAL - £100,000. (In 100.000 Shares of £1 each, of which 00.000 are offered to the public, and 40,000 held In reserve, i ISSUE OF 60,000 SHARES upon the following terms: — 2/6 per share on application; 2/l> per Share on allotment. And the balance in calls not exceeding 2/6 per Share, to be called up as required at intervals of not leas than three months. All Shares are to rank for dividend according to the amount paid up thereon. PROVISIONAL DIRECTORS: JAMES BUCHANAN MACFAHLAN'E. Merchant. Fort Street. Auckland. ROBERT BURNS, Managing Director, John Burns and Co., Ltd.. Auckland. ERNEST YATES, Managing Director, Arthur Yates and Co.. Ltd.. Auckland. AII.NAUD McKELLAK, General Manager, Blackball Coal Company, Ltd.. Christchurch. SOLICITORS: MESSRS. BAMFORD AND BROWN. N.Z. Insurance Buildings, Auckland, BANKERS: NATIONAL BANK OF NEW ZEALAND. LIMITED. BROKERS: MESSRS. COLBECK AND GHIFFITHS, N.Z. Insurance Buildings, Auckland. INTERIM BECRETARY: W. H. BURTON. Fort Street, Auckland. AUDITORS: MESSRS. BRUCE AND DL'THIE. Shortland Auckland. OBJECTS: The .Company is being formed for the following purposes:— (a I To acquire from Mr. Herbert Sutcliffe Nieholl. of Auckland. Manager, a sublease for about 97 and a-half years i expiring on the 10th day of March, 20l8i of the Trachyte Stone-bearing areas of some eighty-two acres, description of which Is given below. A full copy of the proposed sublease may be Inspected at the office of Ihe Company's solicitors. Messrs. Bamford and Brown. New Zealand Insurance Buildings. Auckland. (b» To take over from the said Herbert Sutcliffe Nlchol options to purchase held by him covering a chain wide strip from the quarry to Kaiwaka railway station for the purpose of the Company's railway line. (ci To acquire from the said Herbert Sutcliffe Nieholl a sublease for 03 years of limestone rights over Mr. T. Coates' laud lying within half a mile of the proposed railway for a royalty of Dd per cubic yard on the other terms and conditions mentioned In an option held from Mr. Coates dated 22nd .Inly. 1020. and If!) To develop and turn the said properties and rights to account. Tlie consideration payable to the Syndicate is as follows:—lal £1250 cash to covpi- expenses Incidental to obtaining the above lease and option and survey of 11m. and (bi the reservation to them out of the above-nientlnued royalties of threepence per cubic yard of road metal, one penny per cubic fool of other stone, and halfpenny per cubic yard of limestone (sixpence per cubic yard on road metal, one penny per cubic foot of other stone, and fourpeuce halfpenny per cubic yard of limestone being pr-vabie to Thomas Coates, of Ornkel, Farmer, as owner). The Syndicate receives nothing further in the way of cash, shares, or any othef consideration. DESCRIPTION OF PROPERTY. Tiie land contained in the above-mentioned sublease is situated at Pukekaroro, in the Parish of Kaiwaka, iv the Otamatea County, and is known in tiie district as the Bald Rock —a hill of approximately some 750 feet in height. It is about four miles from tlie Kaiwaka Station on tlie North Auckland Main Trunk line. Tlie deposit is in two distinct formations, a fault or dyke evidently appeari::jr lietween them. One deposit may be described as a slaty formation with polyhedr-'l cleavage, offering exceptional facilities for reduction into road metal, etc. Tl:.: second deposit of the same stone, showing in two faces on tiie opposite side of tic hill, is evidently one enormous stratum of solid rock to depths unknown. it is conveniently joined so as to greatly facilitate quarrying operations. Tit building stone appears in two very pleasing colours —Light Grey and Brown, but'of which take a beautiful and lasting polish. The quantities both for road metal and building stone are practically inexhaustible, and the contour of the depos . I and surrounding land is such as to provide a working scheme by gravitation. The limestone deposits are iv close proximity to tlie area containing tbn trachyte stone. Samples have been tested by the Government Chemist, who et-t".-mends these deposits as most suitable for converting into ground limestone in: agricultural purposes, showing as they do up to 07 per cent of Carbonate of Li: i^. for transportation.facilities a branch line is to be constructed to make dip : connection between the property and the Government Alain Trunk Line. '! iengtli of this, including Sidings, will lie approximately 4 miles 52 chains. Tit line naturally passes through several owners' latins, and Options witll each ow. -r are secured, giving rights to purchase the freehold of the lands required. CONTRACTS. 'file only contract which has been entered into on Hie Company's behalf is ' -i agreement dared rtie urtrd day of July, 1020. made between Alan St. ('iair Urown. Auckland. Solicitor, on beliaif of the Company, and Herbert SutclirTe Nieholl, a r. . whereof may b? Inspected nt the otliee of Messrs. banifnrd and brown. Solicitors. N ■• /a.ami lnb'.nailce Buildings. Queen Street, Auckland, during ordinary business hoi: Director*' Qualification The number or shares lived by the Articles of Asso: iilion as the nualmcatiou of a Director is ,">ol>. Directors' Remuneration. —Tlie Directors' remuneration is to be such sum ->r sums as may be fixed from lime to lime by a General Meeting. Minimum Subscription.—Tlie minimum subscription on which the directors r. y proceed to allotment is 40,00u shares. Fully Paid-up Share*.—The only shares which arc to be issued otherwise tt in for cash are as lollows:— tai 100 fully paid-up shares in satisfaction of £100 of the purchase -.rice t-> ■ paid to the under-mentioned 11. K. Jones under the under-mentioned opt I. -, and Hil 200 fully paid-up sharps which at the Company's option may ~.■ issued in satisfaction of £200 of ihe purchase price lo be paid to l — undermentioned Charles Stewart or his assigns. Vendor*.—The only vendors to the company are the above-mentioned Syn ieate. and the consideration payable to them is as above s>t fori a. Tne Vendms .' property proposed to be acquired by The Company are the f illowtnc persons, being l land owners from whom the above-mentioned options have been obtained :— George Thomas Mills and Fanny El,en Mliis. of Kaiwaka—option to purchr c '- seven acres nt SIW per acre. John Nelson Abercrombie. of Kaiwaka—Option to purchase 1 acre at £22 vox acre. Lawrence Frederick Mills and Edgar George Mills, of K.ilwnka—Option to purchase 3 acres at £2.". per acre. John Ilyland and liavid Thornton llylatid. of Ponsonby. Auckland—Option to purchase t! acres at £: J .o per acre. Hugn Kennedy Jones, of Auckland. Land Agent - Option to purchase 4 acres r.t £.10 per acre. Charles Stewart, of Remuera. Auckland—Option lo purchase 11 ocres for OO In all. John McLean, of Kaiwaka—Option lo lease up to 4 acres at ]."/ per acre p-r annum, and The Commissioner of Crown Lands. Auckland, from whom it is proposed to buy such last-mentioned piece of laud for £10 10/ per acre. Commission. —The Company proposes to pay a commission up to 5 per cent for procui'.ng subscriptions ror sl.oii-s in mc Company. " ' Promoters' Interest.—The amount payable to the Promoters is the ahovementloned sum of £1250 and .the anuve-meiilloned royaliies. Directors' Interest.—The nature and extent of the interest or the directors in the promotion of the Company, or any p.0i..-,-1y propose v |.. be acquired by tt Company, is limited to their interest as pro.no! "is. GENERAL. The promoters of this Company look upon the flotation as a matter of arect National importance, inasmuch as they are convinced that it is only by tha perfecting of the roads Worth of Auckland that the products of that prolific area can be safely and properly marketed. In the complete Prospectus will he found: — The full report of Mr. Herbert S. Nieholl I for a number of years General Manager of the New Zealand Serpentine. Limited, and an expert in stoneand engineering i. dealing with formation iiuantiiv uiinliiv working of deposits, markets, road metal, building stone, estimates, etc!' The report of Mr. Henry Koche. M.N.7.. Roc. C.E.. Cambridge dentin-- wit! plans nnd estimates for Hie railway woik requires: The Geological Reports, Compression Tests, nnd Annlvis which have ft-.. ~ , to time been obtained in respect of tne 'l'iachyle."together with the Analyseand Keporl on rile Limestone samples; Letters from prominent Auckland architects, expressing their hi"h opinion of the quality of this stone for building" pnrposi s. ESTIMATED CAPITAL EXPENDITURE. ii s. rl £ s. d. Cost of Railway and Sidings, including purchase or land and locomotive, as per Mr. 11. Roche's estimate . 24.:'.". '. v Cost of Installing and Quarrying, crushing and sawing and polishing plants : Kuildlng and housing, as per Mr. H. S. Mcholi's Estimate ] 7..-,ss 11 11 Allowance for contingencies lo per cent 4.2:..-. <» 1. , , ■ - 4i'..rn-; 0 0 t ash payment to Vendors to cover expenses Incurred .. 1 2".0 " 0 Estimated preliminary, expenses span from brokerage . 7:, Total Capital required £45,7»8 i> 0 Taking the figures of £10.1*3:1 as given by Mr. Nidi..ll ns it... venrlv estimated working profits on his annual outputs, ibis shows a return ..1 is per cent on £ti(t,iMM| capital. Oopies of the Company's Prospectus may be obtained from the above-mentioned Broker*. FORM OF APPLICATION FOR SHARES. ' To the Provisional Directors of The Pukekan.ro fjuarries. Ltd.. Auckland, Gentlemen.—I hereby request you to allot mc Shares in the above named Company upon the lerms of the company's I'rost ins ilni.-d the :ird day ..f August, 1020, and I hereby agree 10 accept tiie same or a::., less number thai may be allotted to mc. I enclose herewith cheque for £ s. d.. beins the amount payable on application for the said Shares, at the rate nf 2 « per Share, and 1 agree to pay tne further sum of TWO SHILLINGS AND SIXPENCE 1 2 1)1 per Share ou allotment' and the balance as provided in the Prospectus. And I request and authorise you to sign any necessary documents, and do all acta and things necessary to register mc as the holder of the Shares so allotted. Name In full Address „,. Description Dated .day of igo _£ Signature ........_