Page 3 Advertisements Column 1

Dominion, Volume 14, Issue 232, 25 June 1921, Page 3

ISSUE OF £250,000 7$ DEBENTURES r Turnover now 4i times I SUITIS Of Surplus assets cover this greater than 9 years ago. | Repayable in 5 Years ■ ISBlie moire than 3 times ’ II— -—————-—J _______ BY Macky, Logan, Caldwell, Ltd. WAREHOUSEMEN & WOOLLEN MANUFACTURERS Authorised Capital ... ... ... £BOO,OOO O O Share Capital (Paid-up) and Reserve Funds ... «£541,522 13 2 Special Reserve ... ... ... ••• 32302,259 610 ! DIRECTORS : Bankers! Bank of New Zealand D. R. CALDWELL, Chairman of Directors Solicitors : Parr, Blomfield 8 Alexander, Auckland T. H. MACKY, Managing Director • JOHN MACKY, Controlling Manf. Sec. Auditor: Alexander Grierson, C.A., Eng. and Wales, ! C. A. BROWN, Controlling Auckland Warehouse F.P.A. (N.Z.), Auckland C. H. YOUNG, Controlling Wellington Warehouse IJ. S. RUNDLE. London Director Secretary: W. R. Goud.e Reasons for this Issue. Security of Debenture Holders. Surplus of Assets as Security. (I) Many British firms of high financial repute have The Debentures secure the Investor ahead of all The Debenture-holder, whilst he has no specific or required to increase their capital during lhe last year, Preference and Ordinary Shareholders in the Company. floating charge on the assets of the Company, has neverowing to.greater expansion, higher wages and increased They return a high rate of Interest, Free of Income l ax, the-less the present surplus of assets over liabilities as a 4 cost of materials. These reasons apply with even more and for a definite period. genuine security. force to this Company, whose legitimate expansion during ye nf If it is necessary, owing to lower replacement values the last nine years has been phenomenal. During this 0111011315 (Jepreciate our sloc k s even to the extent of j period the turnover of this business increased by 360 y, The Debentures are repayable on the 3 lit day of £200,000, there would still remain a surplus of ; and tne capital, excluding the Spec.al Reserves by 208 /o. Ju]y) ] 926 £643,782, which as a security covers more than twi« All accumulated profits dunng this period have re- Interest paya ble, is free of Debenture Tax upto " " er ” mount o f this Debenture issue. These figures ! mained in lhe business, ana have been capitalised Jrom j n j, which is paid by lhe Company. can |^ e vcr jf iec j by the accompanying statement of MR. i time to time. Interest is payable half-yearly on the first day of ALEXANDER GRIERSON, Chartered Accoun- : Ensuring Continuous Supplies. August and the first day of February, in each year. tant, Eng. and Wales, Public Accountant (N.Z.) (2) During the war it became absolutely necessary Interest Commences Immediately Applications for these Debentures, which can be to secure woollen materials in the piece for the carrying For {he first ent ; nterest w fl| be calculatea made on the accompanying form, will be received, ; on of our large textile factories. The Company were , from (be date> or respect i ve dates, when the purchase Free of Exchange, at any Branch of the Bank ot New I fortunate in securing the Oamaru and Timaru Woollen v'« received Zealand; or through any member of the Auckland or > Mills, also the Manawatu Hosiery Factory, all of which m ° n %’ , 0 < Wellington Stock Exchange; or at the Registered Office have proved most successful .ventures, and which at the . rate 0 interest J 2per annum - o f t | ie C om p an y f Elliott Street, Auckland; or at any of our ; present time are working at their utmost capacity. To It > 5 more than probable that money will become branch warehouses, in Wellington, Dunedin, Christchurch, meet the increasing demand for the product of these mills cheaper during the next year or two, and because these Invercargill, New Plymouth, Wanganui, Napier, and a portion of the money subscribed for these debentures Debentures are for a fixed period of 5 years, this 7/2/o Gisborne; or may be posted direct to MACKY, I may be necessary. rate, Free of Income Tax, should prove a splendid m- LOGAN, CALDWELL, LTD., Box 1434, Auckland. - n i . rx . vestment for the whole period. . * 11 j Replacing Deposit Money. Both , he Debentures and Intercst Coupons attached A copy of the Pros P ec,UB ’J a ted at Auckland the : (3) Commercial concerns of good financial standing, to same will be payable to bearer at any Branch of the ay ° f J une » . ’ i have from time to time accepted monies on deposit. The Bank of New Zealand (within N.Z.) egistrar o ompames. » necessity for the Deposit Moratorium Act, showed the If des i redl interest can be made payable at any of Order oj the Directors, 1 danger of using such monies for trading purposes, even by t he Branch Warehouses of the Company, Free of rAinwril C A RROWbJ .•! the strongest institutions. . Exchange. Interest will be paid and principal refunded L». K. CALUWL . . NO DEPOSIT MONIES WILL BE at due dates free of exchange. T. H. MACKY C. H. WUNU ACCEPTED BY THE COMPANY IN THE Debentures may be inscribed at the Registered JOHN MACKY W. R. GOUDIE FUTURE. Offices of the Company if desired. ecretory SECURITY i. ir Already over A C-orninei cia.l rmcauy vvci AUDITOR’S STATEMENT CHA °At the 31 it January, 1921, the Capital and Ordinary Reserve Funds amounted to a «um of £.541,522 13s 2d, lf"irvni OclS *he Special Reserve Funds for unusual emergencies, amounted to a further sum of £302,259 6s lOd. *h e lliolllUUUJl amount of this Special Reserve Fund is considered more than sufficient to meet all extraordinary demands that may be made upon the resources of the Company. The Assets show a large surplus over the combined amount of Capita e tct Liabilities of lhe Company, and consequently the security of the Debenture Holders will not be endangered until DCCH pil the sum of £843,762 is absolutely lost, a contingency that is practically beyond the bounds of any such possibility. O Share Capital (paid up) and Reserve Funds ... ... ••• £541,522 13 2 i subscribed for sp ““ lß"'offersR "'offers the safest £643,762 0 0 thes© Tax-Free | auditors certificate and soundest g ‘*l have been Auditor to the Company since its inception, and certify that the statements herein made are correct. li -n 9 and in accordance with the books and accounts of the Company. Debentures. ' j (Signed) ALEXANDER grierson, SeCUI lly. i! Chartered Accountant (England and Wales), Public Accountant (N.Z.) fl !Any sum in denominations of £5O can be invested. The return for FORM OF PAYMENT the five years during which the Debentures are current, amounts to 25 per cent, of the Purchase Price is payable on application, £37 10s. per cent.. Free of lax. 25 per cent, in three months, and the balance within six months, or APPLICATION FOR DEBENTURES should be made on the payable in one sum on application, intercst will be calculated from accompanying orm, and posted immediately. the date or dates when purchase money is received. Future Prospects APPLICATION FOR DEBENTURES 0 TO THE DIRECTORS, I The business of Macky Logan, Caldwell Lid.. MACKY, LOGAN, CALDWELL, LIMITED, P.O. Box 1434, Auckland. has now been established 40 years, and durmz that period its growth has been phenomenal. To- | hereby apply for Debentures of £5O each, having a currency of Five years, in R day its factories and warehouses are to be found in i iir i T mm / 1 1 r r ’ full rd every important centre o! the Dominion, and its terms of the Prospectus, dated I sth June, 1921. ir. enclose cheque tor £in setlieirade in drapery goods and textile furnishings is such menL / ree to pay £i n three months, and the balance within six months. ■ that the business has become one of the principal in- & 1 7 dustrial institutions in the country. Its old-establish- (Interest calculated from date of payment), I ed connections throughout New Zealand, and its I capacity to manufacture its own materials enable it p u ]| Occupation to meet any competition, whilst its remarkable growth testifies to lhe able management of the Company, T I I Gland affords a splendid augury for its future prosperity. Address Usual Signature MACKY, LOGAN, CALDWELL, LTD. Head Office: Elliott Street, AUCKLAND Branches at WELLINGTON, GISBORNE, NAPIER, CHRISTCHURCH, NEW PLYMOUTH, DUNEDIN, INVERCARGILL, WANGANUI Woollen Mills at OAMARU, TIMARU, PALMERSTON NORTH