Page 12 Advertisements Column 5

Dominion, Volume 14, Issue 232, 25 June 1921, Page 12

EXCEPTIONAL SECURITY AND 7% PER CENT. TAX FREE INTEREST.(Published by Arrangement.) On another page will be found the prospectus of an issue of £250,000 in 7$ per cent, debentures, free of income tax, by Macky, Logan, Caldwell. Ltd., the well-known firm of woollen manufacturers and drapery warehousemen. The debentures are being issued in sums of £5O, and are repayable in full in 5 years. Interest will be paid half-yearly in exchange for coupons attached to the debentures. The issue is secured, as shown by the prospectus, by the surplus assets of the company which exceed the amount of the issue more than three times over, so that the investor is amply protected. . A' feature of the issue is that the interest coupons may be cashed at any branch of the Bank of New Zealand, or at any of the company’s offices, free of exchange. To the investor with a small income, the issue offers a strong attraction, as the actual return, free of income tax, is equivalent to £8 12s. lid. per cent. The abnormal financial stringency at the present time compels such high rates of interest being paid, and the investor with capital at. his disposal is fortunate in being able to take advantage of the opportunities which are now being presented. , , The business of Macky, Logan. Goldwell Ltd., was established in 1881. Today the capital of the company is over half a million, and it lias branch warehouses in every important centre of the Dominion. In addition the company operates big woollen mills at Onmaru and Timaru, and also a hosiery factory at Palmerston North. Eluring the pastnine years the turnover of the business lias increased 360 per cent. Large sums have regularly been, placed to reserve, and profits have been capitalised from time to time. The ability of the company to produce its own materials places it in the strongest possible position for meeting competition, and it is safe to assume that under the capable management which bus been responsible for its phenomenal growth in the past the company is destined to play an even greater part as the prosperity of the Dominion expands. Applications for the debentures will bo free of exchange, and are being received at all branches of the Bank of New Zealand. or by any member of tho Auckland or Wellington Stock Exchange, or they mav be sent direct to the Company s Head Office in Auckland or any of its branches. It is announced that already more than £30,000 of the issue has been subscribed. The Company will pay exchange also on interest, mid repayment of principal.