Page 3 Advertisements Column 5

Press, Volume XLV, Issue 7123, 20 July 1888, Page 3

> This valuation is exclusive of any estimate for the undermentioned Lands apart from the Timber, viz.:— 146,000 ACRES FREEHOLD, AND 257,000 ACRES LEASEHOLD LAND, Having various terms up to 60 years to run, which can be converted into Freehold on payment of a small sum per acre. Neither is any estimate included in respect of the Large Gum Deposits to be found on the lands which the Company will acquire, and from which a considerable revenue is expected. Nor for the large quantities of Kahikatea (White Pine), Riniu, and Totara timbers, dense forests of which occupy part of the Lands the Company is to acquire, and which are of great value. Part of the property acquired from the NEW ZEALAND TIMBER COMPANY, Limited, comprises some 26,476 ACRES of FREEHOLD, which has a frontage of 8_ miles to the COROMANDEL GOLDFIELD, and it is generally believed that large and payable gold and silver deposits are to be found thereon. The Company will also be enti tied to all or any contracts made by Vendors not specified in this prospectus, without further payment than the cost for which the Vendors obtained them. The Vendors are by the agreement with the Company, to receive 150,000 fully paidup shares; and the Company is to take the position of the Vendors under the contracts, to recoup them such part of tbe purchase money as has already been paid, to provide for payment of the balance, take the legal transfers, &c, and generally carry out the contracts, including certain obligations of the various concerns according to the terms of the contracts, but the Vendors are to receive all discounts to be allowed thereunder for prompt payment. The Directors are in a position to secure » the services for a definite period, at remunerations to be fixed, of Messrs David Blair, of Melbourne, and George Holdship, of Auckland, and with their experienced management and intimate knowledge of the trade, as well as the economy and efficiency of a united control of the whole of the properties, the Directors confidently anticipate increasingly satisfactory dividends, and the Vendors guarantee the first four yearly dividends at the rate of 10 per cent, per annum, either personally- or by the guarantee of a Guarantee Company. The first annual meeting to declare dividends will be _eld in October, 1889. The Annual Export of Kauri Timber from New Zealand, according to the latest statistics, is estimated by the Vendors to be as follows: — To Victoria 10,000,000 feet. „ New South Wales 10,000,000 „ „ South Australia *j I! Xeensfand" \ 5,000,000 „ „ Tasmania J MAKING A YEARLY EXPORT of ... 25,000,000 feet. The Annual Consumption in New Zealand and the adjacent Islands has been carefully estimated at ... 35,000,000 feet. MAKING an ANNUAL OUTPUT of 60,000,000 feet. The Directors, from their long experience of the trade, are confident that the Company will not only be able to do business to this extent, but that year by year, as the appreciation and demand for kauri increases, a larger business may be expected. Taking, however, the full extent of the Company's business to be, annually, as above, the profits, after making all necessary deductions for Sinking Fund, &c, are estimated at much more than amply sufficient to pay the guaranteed dividend. The only charges to be borne by the Company beyond the expenses of completing the contracts are the usual charges for brokerage, advertising, and other preliminary expenses. The Memorandum and Articles of Association, with the various contracts hereinbefore referred to, or certified copies thereof, plans of the properties and Agreement between the Vendors and the Company, are now lying for inspection at the offices of the Solicitors of the Company in Melbourne and Auckland. The accompanyins extracts indicate the opinions of competent authorities and the growing appreciation of Kauri Timber in the Colonies and Great Britain. Applications for Shares will be received until the 28th day of July inst., which will be deemed the date of application, by Mr George Holdship, at the Offices of the Auckland Timber Company. Limited, in Auckland, and through any of the Brokers of the Company. Dated at Melbourne this 7th day of July, 1888.