Page 5 Advertisements Column 2

Dominion, Volume 6, Issue 1620, 11 December 1912, Page 5

MINIMUM SUBSCRIPTION OVERSCRIBED. *~,/*,,, v, „p -, tr , ,»,//■ / i ADDITIONAL DIRECTORS APPOINTED. ; \1 his Prospectus has been filed with the Registrar of Lompanus at Wellmglon.\ i 'COMPANY HAS GONE TO « ' THOMAS'BUXTON, M.P., Temuka, Merchant. .. . i _ , EOF. ROBERT McNAB, Palmerston North,, Sheepfarmer. BALANCE OF SHARES NOW AVAILABLE TOR SUB- 13 "D jH| S ]D* EjU f 3 | ITS GEC)RGE WINSTONE, Airtkland, Merchant. ; -' ' SCRIPTION BY TM JJIBLIC, ,- ' ' VkJ Ji VA W ffERNON, REED, M.P., Bay of Islands, Solicitor. "-y ; ...... ' : . . ■ ■ / " ■ ;

[INCORPORATED UNDER "THE COMPANIES ACT, 1908."]

Capita! it s '£250,000 DIVIDED INTO 250,000 SHARES OF £1 EACH, OF WHICH 60,000.fu11y paid shares will be allotted to the vendors m full payment for all rights-and properties purchased by the Company; 80,000 shares are' being held over for future issue if required, and / 110,000 SHARES ARE NOW OFFERED TO THE PUBLIC FOR SUBSCRIPTION) payable as follows:— \ '■ ' 2s. 6d. per share on application. 2s. 6d. per 6hare on allotment, aud the balance in calls not exceeding 2s. Gd. per share each, at intervals of not less than three months (SPREADING OVER A PERIOD OF NOT LESS THAN EIGHTEEN MONTHS). PROVISIONAL DIRECTORS: SIDNEY J. NATHAN, of Auckland, Merchant (Managing Director, Arthur H. Nathan, Ltd.) .; . R. HEATON RHODES, M.P. )t of Christchurch, Sheepfarmer. CLAUDE SLACK, of Wellington, Merchant (Managing Director, Frascr, Ramsay (N.Z.). Ltd). '. HEATHCOTE BEETHAM WILLIAMS, of Gisborne, Sheepfarmer. NATHANIEL WILSON, of Warkworth, Cement Manufacturer. —„„.„ , ~ , o„, , n ,Tnnc CREED, BAILEY AND TOWLE, Auckland. BANKERS: BANK OF 'NEW SOUTH WALES. SOLICITORS: } MO RISON AND McLEAN, Wellington. CONSULTING ENGINEER: S. IRWIN CROOKES, M.1.E.E., F.C.S., M.Amer., 1.E.E., Auckland. ' AUDITOR: E. RUSSELL DYMOCK, F.1.A.N.Z., Wellington. SECRETARY: ERNEST W. HUNT, 158 Featherston Street, Wellington. OBJECTS OF COMPANY. COMPANY'S POSSIBILTIES. The objects and powers of tho Company are set out in The following statement shows at a glance the possibilities the Memorandum, of, Association, a copy of which is printed of Tikorangh— _ at the end of the prospectus. ' •" " * . * The Company is being formed for the purpose of, inter By Sale of 60,000 tons ol cement at 60s a,™ „ . v Dfi j. / presen t m i nlm u m N.Z. price is ' . aha:_ i ■ '~' ■• Gss) ... ... 1.. ... 180,000 1. Acquiring from the vendors the freehold property T o Cost of production (including manage- .~. known, as "Tikorangi,' situated on the Whongarei JMnt d€precia H onj on p i ant( buildHarlxiur, cbnasting. of about 2,220 acres. in „ s nnd mac ] linery nnd Contingen--2.. Acquiring from the vendors the. freehold property at ' c j es ) 9Gs. on 60,000 tons ... ' ... 78,000 Te Mata Point containing an' additional deposit of To Freight (average) Bs. Gd. per ton on j- . : ri White Limestone. 60,000 tons ... 25,500 ' 3. Taking .advantage of an offer which at the instance To Balance of profit ~. 76,500 of the vendors, the Whangarei Borough Council has ~ '.: '.executed under seal and by which the Company will ' .£IBO,OOO ,£IBO,OOO have the right to receive hydro-electric power at a £76,500 equals 45 per cent, on £170,000 capital. V /maximum price of J29 per h.p. per annum. Under ,-the terms of the offer it is probable that the cost will COMPARISON OF PROFITS. be much less. Wilson's Portland Cement Co., Ltd., tho largest and most .i. Erecting extensive modern works for the manufacture prosperous Company in New Zealand, is working a class of of Portland, Cement, thus obtaining economy,and stone similar to the Tikorangi deposit. In its published acefficiency. - counts for the yea.- 1911 this Company shows, after providing fully for all expenses, including bad debts and debiting for TIKORANGI. repairs, renewalsand maintenance, no less a sum than £11,593 m ., : •'.--.' ~ ... , .-. , T . ' 10s. 7d. (compare.l with .£5,670 2s. Gd. in 1910), a net profit -Tikorangws on the mainland and opposite to. Limestone of mm 1( £ M represelltiu , aMt return o{ oTer 20 per Island, are the works of the N.Z. Portland Cement C6nt on m of 10 0,000. Co., Ltd. The vendors have spent several thousand pounds „..,, ~ ~... . „. ~, ~ ,„ r ~„ in thoroughly testing the property. The cement rock a£a'hu ' W f t!l th ! *M/>«™[ P ronfc «**<£. w » h1(1 accl ' ue f ™ m '^ been opened up in forty different places, extensive bore holes advantage of hydro-electric power this Company would make made, and a tunnel cut into the solid rock in the side of a to T tal „ Mt f from 3 , 5 r »?'«»*■ t0 ., i0 F* CQnt Athe hill. Reports have been made by Dr. J. M. Bell (late , '.. In , the Company 15,000 fully paid share were disGovernment'Geologist):and Messrs. S. Irwin Crookes, M.1.E.E., f* ti ! to SP**s A i S i F.C.S.',(of Auckland), W; J. Wilson (cement manufacturer of 85 ' 0 , 00 „t° 100 ' 000 shar f • S«l« n sllarfis durl »S Watkworth), George Nelson' M.l.Mech.E. (of. Napier), and October (ult.) were reported at 365. Ida .well-known Wellington engineer. The originals of all of MfIWfIrPMPWT these-reports may be inspected on application to the Secre- MANAbbivitNi. tary, and copies may be seen at the following offices:— The Directors, realising that the success of .the Company WELLINGTON:'Messrs. Williams, Hunt and Co., 158 is largely dependent upon its management, have been fortu- . Featherston Street. llat « '. n obtaining the services ol probably tho most expen''mm'nvii „ c. t •' n_ , t, i i t, ■■,■, cnccd and successful cement manufacturer, in the Dominion AUCKLAND: Mr. S. Irwin Crookes, Palmerston Build- in lUe pfirson of Mr , w . j. V Vilson. Mr. Wilson has since its • ID S S < *' u<?en btree ' ; - inception been connected with the Wilson's Portland Cement CHRISTCHURCH: Messrs. Pyne and Co., Cashel Street. Company, the largest and most successful cement works in ' . DUNEDIN :■ Messrs. Sidey. and. Collier, Solicitors, Craw- Now Zealand—founded and carried on "by' hie father, Mr. ford Street. Nathaniel Wilson (\vho has accepted a seat on the Board of ' tho proposed Company) and other members of tho Wilson CEMENT ROCK. family. Tikorangi contains, an almost unlimited supply of cement Mr. W.'J.'Wilson has, since 1504, held the position of rock 1 , estimated at over 400,000,000 tons, with only a few inches works manager in tho Wilson's Portland .Cement Co,, and on of overburthen of earth. The stone can be obtained by open f°" r occasions -has visited Great United States and quarrying and be carried down by, gravitation to the works Canada for the purpose of acquainting himself, on behalf of by means of a tramway. his Company, 'with.all the latest developments in cement manuThe cement rock is practically identical in composition facture and iniprovements in machinery, with that on Limestone Island and at Mahurangi (Wilsons' Neither of these gentlemen is receiving any consideration Portland Cement Co.), is therefore proved to be of the first whatever for identifying their interests with those of the quality, and capable, of being manufactured into first quality Company. Portland Cement. ■ , - THE MARKETS _ ; WHITE LIMESTONE. ! It is well known that tho existing cement mills eannot This~is found on the Tikorangi property near tho works' supply the local demand, and laTge shipments of European site. The Vendors also hold an option over a further deposit cement are still imported into the Dominion. Owing to the of white limestone at Te Mata Point, about, one and a-half gradual depletion of the timber reserves and tho greater atmilos away,, and tho freehold of this property will bo passed tention being given to the erection of buildings and other over to the Company. works in reinforced concrete, the demand for cement is rapidly' . ' - ■ ■, pnai increasing. The minimum price in New Zealand is 655. per ton. ~ . . . ■ ' . In Australia the cement mills, producing approximately I "The possibility of the discovery of coal on Tikorangi is the same quantity of cement as is produced in New Zealand, premising." (Vide Dr. Bell's report.). are quite inadequate to satisfy the Commonwealth demand, Coal, if purchased, from mines operating in the district, and although the imports of cement are heavy, considerable will.cost, delivered at the works, approximately lis. per ton. inconvenience is experienced by a constant shortage of cement DfliiwAv rnuMcmnu supplies. A Sydney cable, dated 20th of September, reported RAILWAY CONNECTION. of cement np to £6 CSi per ton on the spot a]ld £5 Us _ The close proximity of the Government Railway will, by for consignments to arrive. During the month October the means of a short connecting line or siding, reduce the large contracts wen; let in Melbourne for the supply of cement pries of coal brought to the works. ■ at 765. 6d, per ton. HARBOUR *' ' s estimated that this Company could deliver cement' 'r;w„.3„,r4 ,•• „„ «,„ toi,,™ ■ • tr u j' ' • on the Sydney wharf at 3te. per ton,, and with duty (205.) steaS £ »W„ tIT T^^w?'''"" 1 , oCea "- g 2 ,n ? P«M, at 545. This shows a profit of over 20s. per ton In al tideslbttW^^wf l connection with the above it should be borne in mind that Harhot BoL ,t WhTr,!,!.;" • P J f ff^^ 6 to the tho Compaq, output could be doubled by an additional exilarbour Board at Whangarei is attached hereto. penditure of approximately .£35,000. WORKS SITE. This is on practically level ground of unlimited extent, U ' S- CEMENT OUTp UT. on the foreshore of the Whangarei Harbour, and on the As ttn indication of the increasing -demand for Portland Tikorangi property. It is alongside tho raw materials (cement Cement, the following figures are given, showing the increased rock and white limestone). ' ' output in the United States:— . > - ; COST OF WORKS. ,' ... ......... 1" It is proposed to erect modern works, consisting of the - 1885 6 150 000 best and most up-to-date cementmaking machinery, driven 1ll(ln '" * by hydro-electric power,-capable of producing 60,000 tons of • ■ 335,000 cement, per annum. Several estimates have been procured of 1895 990,321 thj cost of such works, including buildings, the ;owest of .1900 . ... ... 8,482,020 wbich.-is £48,000, and the highest £65,000. Considerable sav- xgns HS 24GR12 ingin the cost of manufacture will be effected by such a plant 10lft '" L'-,„'„ as proposed. Cost of power-producing plant is not included in \76,549,951 tba above estimates, as it is not required. HYDRAULIC LIME. INCREASED OUTPUT. ' The cement rock at Tikorangi, just as quarried, burnt, and 'It is estimated that for a further capital expenditure of ground, will produce a high-grade natural cement (hydraulic approximately' £55,000 the output of the works could be llme) ' for whlcll thele ls a Drofitabl « market, doubled. EXTRACTS FROM REPORTS. HYDRO-ELECTRIC POWER.' I An eminent Wellington engineer, whose original report may The' advantages of hydroelectric power over steam-oriren h 6660 at J' 16 f™ „f * e S 3 Pn* S ffi lS? power are considerable before mentioned or at any branch of the Bank of New South Power at J2O per h'.p. per annum'is equivalent to id. per ' Wa, f'. Bays : ~" l jS„ d 100^ , the w \ ole f h.o. per hour, whereas it coste tho Wellington City Cor- T U V S kno l- n L , lme ™"? Hill consists of cement rock poration, with a first-class steam plant,'five times that amount, ( ar Si llaceo « 6 h ™£°™l ""tII 'f am f " fao , ture of hl^ or approximately lid. per h.p. per hour 6 rado Por * :lalld Cement. Iho magnitude of the limestone de.lt is estimated that hydro-electric power would entail a P oslt , co . nsidera ! s , ? me, consisting as it does of some savinfl to this Company of from Bs. to 10s. per ton on the cost hu J ndr «', s °l ml ! . 1 ,° f f of ttms ?l s " ltab u le materlal « asl1 ? mlned ' of production of cement. and wlt, » b " t little overburthen. The property is m every This means that tho Company could, if necessary sell 7 a { emmently suitaWe for the'establishment of cement manuat a price at which it costs other companies to produce and K h,re ', and Ihe natu f ral f lnaton 1 als « apaWo ? f i b W "fatten make -a profit of from 14 to 17} per cent, on" the pre- into a cement of a quality quite equal to that which posed capital ■- .... iik> i-iv- ls manufactured on Limestone Island.' Nearly .all modern The Whangarei Borough Council has ascertained from Pl f° r t"« nmnufacture of Portland Cement provide for all tho reports of the Government Chief Electrical Engineer aad ™ < = chanlcal . w ? rk . required in crushing grinding, etc., being Mr. S. Irwin. Crookes, M.1.E.E., that there is ample water dono b { clec t rlcal P o . we f- tbis respect a Company operating in the Wairua River to develop the 1500 h.p. required/without extreme y fortunate in obtaining thb necessary power any. further outlay on storage than is necWy to construe the h - vdr °;^f 16^ 0 ?^ 10 '!- P™P° sed constructed in a weir to holdand divert the water to a race or flumo. This the harnessing of the river at Wairua Falls. Tho necessary is confirmed iu the report upon New Zealand water-powers utilise the power has, I understand, been granted made in 1904 bv Mr. P. S. Hav MA M Inst CE late to tho whnn & arel Borough Council by the Government, and Government Superintending Engineer '' ' '' "' the Borou eu ' las to su PPly tho Company to bo formed By means of a dam it'is estimated about 6000 h.p can '™t ]l P OW « sufficient for its requirements at a cost which is bo obtained. nol; l lke ' v to exceed £9 per h.p. .per annum. This will mean matiidai ,n„,ii T , o « a considerable saving in capital cost of machinery and buildNAI UHAL ADVANTAGES. ings, and in reduction of about GO per cent, (about 10s. per ton . The natural advantages which this Company will have °, f cem! ! nt ) u for P° wer as compared with the cost of generating over other companies place it in an exceptionally good posi- eko J rlc-I . t y by steam: I am of opinion that tho total cost of' tion. These may be briefly enumerated as follows:- production of a first-quality Portland Cement manufactured (a) Hydro-electric power- under the latest and most approved methods with power sup(b) Unlimited supply of'high-grade cement rock: plkd frora th « Wairua Falls hydro-electric scheme will not (c) White limestone on property; eWd 265. per ton, inclusive of cost of bagging and allowing (d) Cheap .coal supply railed to works- a fair sura for depreciation, of all buildings and machinery (e) Deep water in good harbour ' and contingencies. In determining the magnitudo of the pro(f) Good site for works adjacent to raw materiale; P os ** l ,r ? rks ' °/. t hcir t f tal on^ u h is necessary to consider (g) Little or. no overburthen of earth on cement rock; the markets which can be supplied. \ am of opinion that with (h) Cement' rock, just as quarrioxl, capable of producing * ho low , c . os J t ° f P roductlon ■" ™ ni ™J . sou 'h <>f the Line could high-grade natural cement (hydraulic lime). be SU PP ied - In , Nolv Zealand I onticinato that in tho near _, ,; . , , ~',., . . , , . future the use of cement concrete for building purposes will To these can be added the advantage of largo modern b g€ncra ]lv adopted owing to (lie gradual depletion of the works effectiilg immense saving ,n cost of produptmn. tim g or rese ' rves , and grcat er attention lioing given to the erecrnST np PRnnnp-rinM tion of buildings in reinforced concrete. In Australia the UUbT OF PRODUCTION, quantity of foment imported is considerable, and there are but The highest estimate given by exports bf the cost of maini- few manufwiories. The cement which can be manufactured facture of Portland Cement by this Company, including man- at Tikorangi may be considered quite equal (o any English agement, depreciation,-and contingencies, is 265. per ton f.o.b. cement. lam of. opinion that tho proposal to erect works works. : To this must be added freight to other ports. The. capable of, producing 60,000 tons of cement per annum is sound. minimum selling price at the main ports iri New' Zealand The present prico of New Zealand cement in Wellington is is 655. per ton. As .an eminent engineer reports ('"With the £3 oj. per ton, Asauming the cost of production at 265. per lov cost of production, ail oautttdea ec/uth of the. Lino wuW ton ae estimated,, it will bo eeeu that a considerable margin