ELECTRICAL DEVELOPMENT

Dominion, Volume 16, Issue 170, 6 April 1923, Page 8

ELECTRICAL DEVELOPMENT

OPPORTUNITY FOR INVESTORS. One feature of the electrical development of New Zealand is that successful engineering and supply firms have found it necessary to employ more capital than private company share resources can usually provide. So far various methods have been employed to meet their requirements without disturbing the private share holdings, tut in no instance to date has a successful private company opened its doors to tho public to participate in an established and valuable undertaking. The directors of one such company.’ Messrs. A. I). Rilev and Co., Ltd., have wisely decided to create a public company straight away by taking in. further capital at par, although the present share capital of £20,000 has been competently valued at a premium worth in the aggregate several thousands of pounds. Tho additional capital now required could bo found readily and privately. The point is, however, that were such a course adopted, before long further capital would be needed. The turnover of Messrs. A. D. Riley and Co., Ltd., has been:— * £ 1919- 111.249 1920- 175.906 1021-22 196,971 Six months ending Dec., 1922. 163,551 Contracts now in hand amount to £361,821. Two outstanding public accountants have offie'allv sign’fiod their opinion that additional capital is needed to profitably expand the business with tho increasing demand for its merchandise. In view of this fact, 20,000 £1 shares will short! v bo placed on the market at par. The small issue will bo-pro-fitable and popular, as hitherto shares in private electrical supply firms, have been closely held. Preference will be given to thos<* who confidentially record their name'' as intending investors in this small but attractive issue. Those interested arc reconimoiwlpd to write in nnmodiatelv for a copy of the Pronectus am’ Application Form Tho Chief Broker*’ for the issue are Messrs. A. M. Adams and Co.. 12 Panama Street. AAo'l’m’ton. The bend office of Messrs. A D Riley and Co.. Ltd,is at 160 Lambton Quay, M’ellineton. and Hrnre a>" branches at Auckland, Christchurch, •and Dunedin. Prospectus may also be obtained from any branch of the National Bank of New Zealand'. Ltd or any member of the Affiliated Stock Exchanges of New Zealand. Advt.