Page 3 Advertisements Column 1

Daily Telegraph (Napier), Issue 3740, 11 July 1883, Page 3

Prospectuses. "TVTELSON TJROTHERS, (LIMITED.) Incorporated under TnE Companies Acts, 1562 to 18S0. Capital:—£3oo,ooo, in 30,000 Shares of £10 each. First Issue :—16,000 Shares. Of which 4,000 Shares arc to be issued to tho A r endors with £8 paid up thereon in part payment for the Properties and Business, and 11,000 Shares are now offered for Subscription. 1,000 Shares are reserved for issue in Hawko's Bay. The amount due on tho Shares now offered for Subscription is payable as follows, viz. : £1 On Application. £1 On Allotment £3 On the Ist clay of July, 18S3. £3 On the Ist day of September, 1883. It is not intended to call up, at present, the balance of £2. DIRECTORS: E. Montague Nelson, Esq. (Nelson Bros. and Co.), Hawko's Bay, New Zealand, and G. Nelson, Dale and Co.), 14, Dow-gate-Hill, London, E.G., Managing Director. James Arming, Esq. (Aiming and Cobb), 11, Liine-strcct, London, E.C. Frederick Nelson (Nelson Bros, and Co.), 14, Dowgate-Hill, London, E.C. AVm. Taylor, Esq. (W. Taylor and Son), 4, Elm Row, Edinburgh. Abraham Scott, Esq. (Director of the National Bank of Australasia), 157, Leadenhall-street, E.C. BANKERS: The Royal Bank of Scotland. BROKERS : Messrs. Greenwood and Co., 28, Austin Friars, London, E.C. SOLICITORS: Messrs. Dawes ancl Sons, 9, Angel Court, Throgmorten-street, London, E.C. SECRETARY: A'alentine S. Hervey, Esq. OFFICES : 14, Dowgate Hill, London, E.C. PROSPECTUS. THIS Company is established for the purpose of acquiring, as from the Ist of July next, and developing and extending the business now carried on at Tomoana, Hawke's Bay, in the North Island of New Zealand, by Messrs. NELSON BROS, k WILLIAMS, and of adding to it tho business of Refrigerators of Meat and other perishable produce. The business, as now carried on, is that of Sheep Farmers, Manufacturers of Extract of Meat, Preservers of Meat for Exportation, Manufacturers of Tallow and Edible Fat, and Exporters of AVool, Shoep Skins, and Hides, but the demand which has recently arisen in Hawke's Bay for a Refrigerating Establishment, has induced the proprietors to turn their attention to this branch, and for that purpose additional capital is required. The business, which will be taken over as a going concern, has, as regards most of its branches, been in working for nearly throo years under the immediate superintendence of Mr AA r iLLiAM Nelson and Mr Williams, the former of whom will occupy tho position of Local Manager to the Company. The success of the business has exceeded the expectation of the proprietors, and the experience of the working to the present time tends to show that independently of the refrigerating branch of the business, to start and develop whioh the additional Capital is rcquirod, considerable profit may be anticipated. The properties to bo acquired by the Company consist of— 1. A Freehold Estate known as "Tomoana," containing about 102 acres of very valuable land, situate about 12 miles from Napier, and being in direct communication with that Town by means of a Railway bounding the Estate on one side, and which is connected with the works by sidings. Thero have, within the last three years, been erected on the Estate a Manufactory fitted and supplied with tho most improved machinery and plant, suitable for the requirements of every branch of the business as hitherto carried on, callable of preserving 2000 Sheep per week ; Preserving Rooms, Factories for Tallow Melting, and for Fellmongcring Sheep Skins ; AVool Shed, ancl Artesian AVells; Dwellings for the Manager and Employes, AVorkshops, Boiler ancl Engine Houses, Storehouses, Sheep and Stock Yards, and Slaughter Houses, and ono mile of portable Railway, with necessary Rolling Stock, Tools, and appliances. This property was locally valued in September last at £30,000 since which time upwards of £2000 have been spont in additional Machinery and the erection of Cottages. 2. A Freehold estate known as "Apley," containing about 4735 acres, with necessary AVool Shed, Cottage, Yards, &c, situate in the Puketapu District in the province of Hawke's Bay, 12 miles from Napier, which is approached by good main roads. Tho land is well watered, and divided into 13 paddocks, enclosed by about 30 miles of post and iron fencing, and is chiefly composed of low rolling hills specially adapted for sheep-grazing, and as such can be classed as of the highest character. The Estato has drafting accommodation for about 15,000 Sheep. The Stock on tho Estate at present consists of about 8000 Sheep and a herd of Horned Cattle. The Estate, exclusive of the Stock, has been recently valued by Mr Edward Lyndon, a well known A'aluator at Napier, at £39,000. It is in mortgage for £20,000. 3. The A r eudors' interest in the Block kown as " Mangaterctere East," situate near to Tomoana (and forming a valuable adjunct to it), containing about 2000 acres. Of this Block, about 1800 acres are held by the Vendors on a lease, which will expiro on the 9th July, 1888, and tho Lessees havo purchased about 250 acres of the reversion, which is, therefore, freehold in possession. They are also entitled to an undivided ith of the reversion of the remainder. Included in the freehold portion is a residence and 40 acres of land, known as " The Lawn," which is now let on a repairing lease to Mr AVilliam Nelson, at a rental of £350, the Lessee having the option of purchase at £5000. The stock in June next will consist of about 5000 head of Sheep and 150 head of Fat Cattle. The price for the Estate and Stock is £35,000. The Estate is in mortgage for £6000. AVith regard to the articles manufactured at the AVorks, it may be stated that the tallow, of which about 350 tons wore sold last year, averaged 45s lOd. per cwt., some of it having reached 495. Od. per cwt., and being the highest price obtained for tallow during last year. The tinned and preserved meats are also much in demand. The facts mentioned above suffice to show that even if the business was confined to the branches now in operation, it would prove very remunerative to the shareholders, but a large addition may confidently be expected from the development of the system of refrigeration and the export of frozen meat. To perfect this latter branch of the business it will be necessary to devote a portion of the Capital to the purchase and setting up of Refrigerating Machineiy, either at the Tomoana AVorks or on Board a Launch in the Harbour at Napier, as may be arranged. This will be ordered without delay, and will be dispatched with the utmost expedition, so as to be fixed and got into working order in December next, which will be tho most favorable time for commencing operations. Apart from the Stock of Sheep which the Company will themselves rear, and those which the}' will purchase for the purposes of their business, a large revenue will be derived from refrigerating the meat of neighbouring Sheep owners, which will be done at a fixed tariff, to include slaughtering, and, if required, storing, aud shipping. The Province of Hawke's Bay is, from its salubrity and the equability-of its temperature, specially adapted to the rearing of Sheep, and it is confidently expected that it will before long become the principal Meatproducing District of New Zealand. The price to be paid to the A r endors fqr their properties asjdetailed above (subject to the mortgages for £26,000 thereon), is £80,000, of which £48,000 is to be paid iv cash, and the balance in 4,000 Shares with £8 paid thereon. The unmanufactured Stock, and Stock in process of manufacture, and the Casks and Tins for use in the business carried on at the Tomoana AVorks, are to bo taken over by tho Company at cost price. The remaining £48,000 of the Capital will be applied so far as may be necessary, in the purchase of the Stock, and of the Machinery and Plant principally connected