Page 15 Advertisements Column 5

Dominion, Volume 25, Issue 261, 30 July 1932, Page 15

“Safety First” ’ S4F { WHITC I I IOKDfII J H BLACK AND M WHITE ' scotch whisky -»-• J—« ‘'BLACK t white* *Hsuu eitßO o* SCOTCH WMISI® -J • 1 and avoid ex 3«t I w those ■ after regrets Easy to Open... Easily Re-sealed “BOTTLED IN SCOTLAND”

A Gilt-Edged Investment. GREY ELECTRIC POWER BOARD JS 10l O2 /o DEBENTURES OF EACH. Exempt from Special Stamp Duty recently imposed. Loan of .£ll,OOO in Debentures of £lOO each, bearing Interest at sYz per cent [Exempt from the Special Stamp Duty recently imposed by ®the Government]. Repayable on Ist April, 1958. THE GREY ELECTRIC POWER BOARD, pursuant to the powers conferred on it by the "Electric Power Boards Act, 1925," and the “Local Bodies Loans Act, 1926," invites applications for the purchase at par of 110 DEBENTURES OF £ 100 EACH, repayable on the Ist April, - 1958. > The whole of the said Debentures will bear interest at the rate of 5J per centum per annum, payable half-yearly on lst days of April arid October, calculated from the date application moneys are deposited with the Board or with the. Bank for remission to the Board. The principal and interest will be payable by the Bank of New Zealand, Greymouth, or at any of the Bank's branches in New Zealand, free of exchange to the holders of Debentures. . The exchange on all the. Amounts subscribed within the Dominion will be borne by the Boflrd. Since the issue is subsequent to May, 1932, the interest is not subject to the recent Stamp Duty imposed. SECURITY The interest and sinking fund of the said loan of £1 1,000 is secured by a special rate of one-sixth of a penny in the £ on the capital value of all the rateable property in the Grey Electric Power Board district. The Grey Electric Power Board distritt comprises the Boroughs of Greymouth, Runanga and Brunner, the Town District of Cobden and almost the whole of the Grey Coynty. The capital value of the property in the said district is £2,309,971. The area of die district is 640 square miles. The population is approximately 13,000. ' The Board has been generating and selling power for. 6| years and has not had the necessity to call up any rates, the revenue having been sufficient to meet all the usual annual charges in addition to providing considerable capital expenditure, arid a general reserve fund. The loan indebtedness of the Board at present is £251,918, against which there are accrued sinking funds of £ 19,162. / t SINKING FUND A sinking fund of £2 per centum per annum will be provided and lodged annually with the Public Trustee as Sinking Fund Commissioner. \ TRUST FUNDS The Board’s Debentures are an authorised inVestmerit fov Trust Funds, and this investment should be one of the most remunerative obtainable by Trustees. PAYMENT Payment to be made as follows:— (I) In full on application; or - (2) £5O pet debenture Oh application and the balance in one, two, or three months. Debentures will not be delivered until the full amount is paid. Payments may be mride to any branch of the Bank of New Zealand. GENERAL The Grey Electric Power District comprises a district which is rich in timber, gold and coal. The greater portion of New Zealand’s, coal is produced within its area, and all the important mines, as well as the majority of the small ones, are constant users of electric power. Power is available for dredging purposes, and one dredge recently launched, and other projects under way, will be users of electricity. The Board experienced such a rapid growth in load that its 1,000 k.w. steam plant had to be replaced by a hydro plant 2| times the capacity. The Board is one of the few undertakings of its kind in New Zealand which has not suffered a decrease in its revenue as a result of the depression. Constant increases in revenue are shown from year to year, despite the fact that charges have been substantially reduced from time to time. Dated at Greymouth this 21st day of July, 1932. A. J. McDOWALL, Secretary. APPLICATION FOR DEBENTURES. THE SECRETARY, GREY ELECTRIC POWER BOARD, GREYMOUTH. , z I hereby apply for..,Debentures of £lOO each, bearing interest al 5$ per centum per annum, and repayable on the lit April, 1958. 1 enclose Cheque for,in full payment. (or) I enclose Cheque for being £5O per Debenture, and will pay the balance of £5O per Debenture within three months. Name Address■