A.D. RILEY AND CO., LTD.
INCREASE OF CAPITAL. The capital of the well-known and successful Engineering and Supply Firm, Messrs. A. D. Riley and Co. Ltd. of Wellington. Auckland, Chnstchurqli, and Dunedin, is to be increased bv tho issue of—--5000 Cumulative 7 per cent. Preference Shares, and 15,000 Ordinary Shares. This investment at par can be recommended with confidence, localise (I) Tho business has been firmjy established and successfully maintained, oven through the war period and tho subsequent depression. / (2) The turnover, done on £20,000 Capital, reveals steady growth, being: 1919- £111,249 1920- 175,968 1921- 196,971 6 months to , Dee., 1922 163,551 (3) The existing Capital of £20.000 has ' been competently valued at a premium; further, 15,750 shares of it are held by persons now actually working in" or connected with the
Company. (4) Two prominent Public Accountants consider that more Capital could be profitably employed. Investors are recommended to read their considered opinions, which are embodied in the Prospectus. (5) 'Hie' stock on hand lies been valued as good by Messrs. Hay, Vickerinan, and Lancaster Ltd., Consulting Engineers, of Wellington. (6) As evidence of the confidence winch British suppliers have in the Company, four of them have already applied for 2500 shares of the Capital now offered at Par. This money is at present used in tho
business. (7) Tho general aim of the business has been —and will be—to provide engineering materials employed in electrical transport and engineering undertakings and their maintenance; both of which necessities and the demand for them is destined to markedly increase during the next decade. The Chief Brokers for tho Issue aro Messrs. A. M. Adams and Co.. 12 Panama Street, Wellington. Prospectus and Appb’cation Forms may be obtained from the Chief Brokers, or from any Branch of the National Bank of NZ. Ltd., or any member of tho Affiliated Stock Exchanges of New Zealand. —Advt.
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Bibliographic details
Dominion, Volume 16, Issue 174, 11 April 1923, Page 8
Word Count
313A.D. RILEY AND CO., LTD. Dominion, Volume 16, Issue 174, 11 April 1923, Page 8
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