Page 4 Advertisements Column 2

Press, Volume XIX, Issue 2818, 14 May 1872, Page 4

Public Notices. chase the undermentioned well-known vessels, now the property of Messrs McMeckan and Blackwood, who are retiring from business, their partnership expiring by effluxiou of time at the end of June next :— Tons. Horse-power. Omeo ... 820 ... 120 Albion ... SOU ... 1(50 Alhambra ... 705 ... 140 Tararua ... 6!>2 ... 155 Gothenburg 674 ... 120 Claud Hamilton 668 . ... 100 Rangitoto ... 574 ... 140 Aldinga ... 447 ... 140 Coorong ... 3yO ... 70 These vessels are all registered at Melbourne. Tb-y have all been recently surveyed by Mr William Dnthie, late surveyor to the Southern Insurance Company: Captain M'Callum. surveyor to Lloyds' ; and Mr Alexander Kirk wood, formerly foreman tD Messrs Scott, Russell and Co., of London, and for years past superintending engineer of the above steamships. The reports of these gentlemen, which are annexed, 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 encumbrance, as they arrive in the port of Melbourne, after the 10th June next, without interruption to the several trades in which they are engaged. In addition to the steamships, Messrs McMeckan and Blackwood will sell to the company the land situated at the corner of Flinders and King streets, Melbourne, having a frontage of 59 feet to Flinders street, by a depth of 113 feet, upon which stand the offices and stores where the business 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 ia £165,000 which includes all the spare gear, sails, yards, shafts, propellers, machinery, &c, 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, condensers, and pumps to the Claud Hamilton, which have been already contracted for. In the event of the loss of either of the vessels, before delivery, a deduction from the pur-chase-money will be made according to a schedule approved by the provisional 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 McMeckan and Blackwood will pay the preliminary expenses. It is proposed to raise the required capital by 20,000 £10 shares, on which £6 will be at once called, and in addition to issue debentures for £50,000 bearing 6 per cent, interest. Messrs McMeckan and Blackwood are willing to take £50,000 of the purchase money in shares of the compay, 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 be eminently profitable to the shareholders maybe 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 office expenses, repairing, or overhauling, The only charge not provided for was insurance—an expense which large steamship companies generally avoid by creating an insurance fund of their own. The Provisional Directors estimate that the net earnings of the nine steamers, every charge being provided for except insurance, may be safely calculated at £38,000 pei annum. This will give the following result :— Interest on debentures £3,000 Dividend at 10 per cent 12,000 Insurance and Depreciation Fund... 14,00 C Extra cost of management (Directors, Superintendent, &c.) say ... 3,000 £32,00 C Balance 6,00 C £38,000 This shows a return equal to 15 per cent, per annum but with ordinary good fortune a large part of the sum set apart for insurance would be clear gain, which, though not available at first for dividends might be invested in new steamers, and the increasing trade would thus be provided for without increasing the capital upon which dividends would have to be paid ; and when the fund shall have accumulated to a sufficient amount, which may reasonably be expected in a few years, the annual appropriatior above provided for might cease and the sum go to swell the dividends to nearly double the amount estimated above. The experience of such companies in everj part of the world has shown that with careful supervision and judicious management, regular dividends may be relied upon. Perhaps no company in the southern hemisphere has ever been established under such favorable circumstances as the present one ; for ii will have a thriving business to begin with which in private hands has produced the satisfactory result already described. Witt the influence of a large body of shareholders and a steadily increasing population in all the colonies, even better results may be anticipated. The area of steam communication in this part of the world is rapidly extending Formerly it was confined to the intercolonial trade, which has certainly not yet been fully developed, and which cannot fail to receive a great impetus whenever the restrictions created by the Customs systems of the different colonies are relaxed or removed, Besides, new lines are being projected, and some opened up. A large passenger and carrying trade already exists between Australia, New Zealand, the Islands of the Pacific, and America. Then it is probable that the European mails may be carried between Australia and Galle in Victorian vessels — s eervice for which the steamships of this company will be fully competent. Java and the Islands of the Indian Archipelago would furnish another field for enterprise of this kind, and an additional means of extending the business of the company. Melbourne is obviously the port best adapted to become the entrepSt of the Australian colonies and the centre of steam communication for this part of the world The establishment of a company such as is here projected will tend to secure for it both these advantages ; and whilst affording s profitable field for the investment of capital, will contribute in no small degree to extend the trade both of the port and the colony. Forms of application and all information may be obtained from the brokers and from the Secretary, by whom and by the Company's bankers at any of their branches, applications for shares will be received : bul no application will be considered unless the deposit of £ 1 per share has been previous!j paid to the Company's bankers. The articles of association will be open foi inspection at the temporary office of the Company. Immediately after the allotment the shareholders will be called together to elect the first Directory. Melbourne, April 8, 1572. 5-11 io6i MARAVILLA COCOA.—Fob Break fast.—The "Globe" says "Various Importers and Manuf actnrers have attempted to attain a reputation f<v their prepared Cocoas, but we doubt whether any thurougl success had been achieved until iI.KAk.Kk TATXOE BHOTHEKS discovered tile exCOCOA, M|ililifiFpwwHjnw9i preparation to tids finest of all specie* of the Theobroma, they have produced an article which supersedes every other Cocoa id the Market. Entire solubility, a delicate *roma, and. a rare concentration of the purcefc elementß Of nutrition, distinguish tike HABAVILLA COCOA above all other. Poi Homoepatlis and. invalids -we could raot reconuncnd. a more agreeable or variable beverage." Sold in packets only Ly all Grocers, of whom also may be had TA FLOB BBOTHEBS, Original Homeopathic Cocoa and Soluble , Chocolate. Steam Mills,—Bridt Lane. London.