Page 3 Advertisements Column 3

Evening Post, Volume XXIV, Issue XXIV, 18 November 1882, Page 3

PR OS PECT U S of i THE GEAR MEAT PEESEEVING AND FBEEZING COMPANY OF NEW ZEALAND (LIMITED.) Incorporated under tho Companies Act, 1882. Capital, £100,000. In 10,000 shares of £10 each. Payable as follows: — Five shillings per share on application; ten shillings per share on allotment ; and tho balance as may bo required, but no call shall exceed ten -shillings per nhare, or be made at lesser intervals than three months. It will not be necesxary to call up the whole capital, as judicious financial arrangements can bo mado by which a large amount can remain uncalled. Provisionaii Directors : Hon. P. A. Buckley, M.L.C. Jno. Duthio, Esq., J.P. (J. Duthie & Co.) Bobert M. Greenfield, Esq. (late Greenfield and Stewart) Geo. S. Graham, Esq. (General Manager Colonial Insurance Company) Joseph Kitchen, Esq. (J. Kitchen & Sons) W. H, Levin, Esq., M.H.E. (Levin & Co.) Hon. Jno. Martin, M.L.C. (station owner) J. M'Kolvie, Esq. (stock owner, Eangitikei) Nicholas Beld, Esq. (W. & G. Turnbull and Co.) J. S. M. Thompson, Esq. (Thompson, Shannon & Co.) Alfred Tyer, Esq. (Ngahauranga) Sir George S. Whitmore, K.C.M.G., M.L.C.) Managing Directors •. James Gear, Esq. ; Josoph Beale, Esq. Bankers : Tho Bank of Now Zealand. Solicitors : Messrs. Buckley, Stafford & Fitzherbert. Secretary and Accountant : Jamos Boston, jun. Temporary Offices : On tho Premises of J. Dranßfiold, Esq., J.P., Merchant, Panama-street, Wellington. The company is formed for tho purpose of purchasing and continuing, as a going concern, the extensive meat-presorving^ butchering, and export business now carried on by Messrs. Jamas Gear and Josoph Beale (under the style or firm pf * 'James Gear") in tho City of Wellington and Township of Petone, and adding to same tho business of preparing, by tho refrigerating or othor process, meat for sale and export. Messrs. James Gear and Josoph Beale havo entorod into an agreoment with Mr. J. Dransfiold, merchant, of Wellington, datod tho sth day of Octobor, 1882, by which they agree to sell their said business to tho company, on the terms contained in the said agreement, and which may bo summarised as follows : — 2. Tho company will take a transfer of the whole business, on tho basis of the stocktaking, mode on the 30th day of June last, showing live stock, preserved meats, tallow, &c, in stock and in course of manufacture, horses, carts, harness, stores, and stock-in-trade of overy description, including guaranteed book debts, amounting in all to about £22,000. When the transfer to the company takes place, tho stock will be rotaken by valuation on both Bides, and any inoroaso or deorease in the said amount will be paid or allowed for as the case may require. For the whole of the valuablo freehold properties, situated iv Lambton Quay, Cuba, Gnuznee, and Taranaki streets, in the City of Wellington, which includo the meat preserving factories, wholesale, and retail butchers' shops, dwelling-houses, stables, &c, the valuable block of land at Petone, containing about sixtoen acres, on whioh is erected the slaughter houses, boiling-down establishments, cooperage, butchers' shops, dwellinghousos, &c, and two acres at Featherston, noar the railway station, nsod as stockyards ; also the leasohold seotion, containing 100 acres, at Petono, known as " Gear's Island," and other leasehold land, held at a low rental ; tho.branoh railway lino from the Hutt railway to Gear's works at Petone ; the extensive and valuable hydraulic and othor machinery ; steam engines, boilers, vats, and fixtures, together with the patent rights owned by the firm, and tho entire goodwill of tho business ; tho vendors aro to receive the sum of £38,000, making the total purchase money for the business sixty thousand pounds (£60,000). 3. The reason for disposing of so valuable an undertaking is that Mr. Gear has found that close application to business for so many years has seriously affected his health, and, having made a competence with which he is content, he is desirous, at an early date, of being relieved of the pressure of so large a business and confining himself to the management of his country ostate. He will, however, give to the company the full benefit of his extensive experience, whenover invited so to do, and guarantees not to ombark in any similar business in tho colony of New Zealand during his lifetime. 4. Tho works at present are by far tho most extensive of the kind in New Zealand, and the reputation of tho preserved meats manufactured by "James Gear" has been so established in the London and other markets that, large as is the present output, . it is still impossible to supply all ordors that come forward. It will be the business of the company to. enter upon such extensions of the premises and business generally that the Bnpply will keep pace with the demand. 5. The recent establishment of meat freezing companies in New Zealand, as tending to devolop the production of moro live stock in the colony, is much to bo commended. It is, however, impossible that these ventures can be worked as profitably as a company combining a largo privato business with preserving and freozing. Out of a mixed flook of 1000 sheep Bent in to be slaughtered and frozen for export, not moro than one-half will bo found fit for freozing ; the remainder can bo moro profitably used for preserving and tallow. This is the chief reason why the indiscriminate shipping of mixed sheep in a frozen state to the London market has resulted in wide differences of prices. 6. The groat advantago which the company will possess ovor all competitors is tho fact that their arrangements aro such that live stock can be driven into the yards, slaughtered, selected for private trade, preserving, or freozing, as the case may require, put into the special meat trucks (built for Messrs. Gear and Boalo's trade), the railway lino running right into the buildings at Potone, and shipped at the Bailway Wharf in Wellington in four or five hours. It may bo noted that so well are thoao conveniences recognised, that the Wellington Moat Export Company has arranged with Messrs. Gear and Boole to slaughtor and ship for tho company its first export cargo of frozen meat. 7. The books of tho firm have been carefully examined by a competent accountant and auditor, and the ro&ults as detailed in the profit and loss account and the balancesheet, are of such a nature that shareholders can absolutely rely upon an eminently satisfactory dividend on tho capital invested. No business in Wellington has been conducted on sounder principles, or has resulted in a larger measure of success to its propriotors. 8. As an evidence of. thoir bond fides, tho vendors take ten thousand pounds (£10,000) of the purchase-money in paid-up shares, and allow the paymont of the purchase-monoy to extend over a period of three years. The vendors also guarantee that tho net profit of the working of the business for the first twelvo months (oxclusive of intorest charges) shall not be less than six thousand pounds (£6000), equal to an ascertained dividend of twelvo and a half per cent. (12J per cent.) on the capital paid np. Messrs. Gear and Bealo will remain as joint managing directors for the first year, and Mr. Bealo as managing director for the ensuing two years. 9. The question of meat supply in Europe is exciting groat attention at present, in consoquonco of the Amorican supplies having fallen off considerably, and the European demand being constantly on the increase. So great is this demand, that it is only necessary to state that tho importation of meat and cattle into the United Kingdom in 1870 amonnted to a value of £7,708,000, and that in 1880— a poriod of only ten years — it had grown to £26,612,000. This increase ib daily growing larger, from the fact that the consumption oi moat por inhabitant is increasing in all countries, owing to the highor wages that manufacturing industries has introduced among tho masses. Tho future prospoct which this state of things opens out to every stockowuor in tho colony, and tho enlarged value it gives to tho fruitful lands of Now Zealand, cannot bo too highly estimated. 10. The company will not only purchase direot from stockownors, biit, when required, wiU act as their agents in preparing meat or othor produce for shipment out of tho colony, or for sale and disposal within tho colony, by the refrigerating or othor procoss. The company will also be prepared to make cash advances to stockowners and others on all shipments whioh they send forward as agents. 11. To the wealthy capitalist, as well as to the man of small means, tho company offers a safe investment, with a certain dividend from tho day of its registration, because it enters at once without a break upon a most profitable business, with a guaranteed return. It also helps to enlarge and devolop a local industry, giving employment to a considerable nnmbor of resident work people. The meat preserving operations will now bring in an annual return of some £100,000 in hard cosh, and this amount can bo doubled in two years by tho company. Whsn it is remembered that this return is derived from the natural products of our land, and that every penny of it is spent amongat the people of the city and distriot, the value of the undertaking will bo admitted by all. 12. Tho qualification for each director is fifty shares, and the first meeting of sharoholders for tho election of tho Board of Directors will bo hold in tho month of January, 1883. 13. Five-sixths of tho purchase-money being already subscribed, tho company has boon registered under Tho Companies Act, 1882, and it is expooted that the transfer of the Tendon' bunnees to the Company will