Page 4 Advertisements Column 3

Evening Post, Volume XXV, Issue 134, 8 June 1883, Page 4

PROSPECTUS OF THE ISLAND BAY PABK COMPANY, LDIITED. Capital, £5000 in 1000 Shares of £5 each, of which it is proposed to call up 10s on application, 10s on allotmont, and £4 by 10s per month (if necessary). Provisional Directors : Ames, James Luxford, G. H. Cutten, C. B. Maginnity, John Edwards, W. B. MTavish, A. J. Graham, G, S. Richard.son, J. M. Gilmor, Hamilton Staples, John Joseph, Jacob Wallace, Bruce Johnston.C. J..M.H.8. Waters, W. E. Kembor, Henry Wright, J. F. E. John Young Bankers : Tho Colonial Bank of New Zealand Solicitors : Messrs. Moorhouso, Edwards and Cutten Brokers : Messrs. Deacon and Bushell and Mr. Henry Kembor Temporary Offices : Messrs. Deacon and Bushell's Offices Hon. Secretari (pro tern) : Mr. E. H. Goldsmith The objects of tho Company are to acquire a site suitable for a racecourse and public park, in the Island Bay township, near tho City of Wellington, and to form a racecourse and pnblio park, with all necessary building? and conveniences, and to let the same, or any portion thereof, from time to time, to Bach Bacing Club and othor persons as may be advisable. A provisional agreement for tho lease of a suitable site containing about 50 acres of land in the Island Bay township, for a period of seven years at a rental during the first five years of £300 per annum, and during the remaining two years at £400 per annum, with a right to purchase tho freehold at any time dnring tho term, after the Ist day of July, 1885, at a prico of £9000, has been entered into by Messrs. Josoph and Wright, the freeholders, as vendors, and Mr. Charles William Cutton on behalf of the Company. The average rental during the whole of the term is eqnivalent to interest at the rateof a littlo over 3fr per cent, per annum only on the total amount of the purchase-money. A survey has been made by Mr. D. Climie, C.E., and and a plan of the proposed course prepared, 'from which it will be seen that an excellent course of a mile and two chains, with very easy ourvos, including a suitable grand stand (whioh can be enlarged in future if required), paddocks, booths, Ac, can be formed and built at a total exponse of £3000. Tho advantages of a racecourse at Island Bay are very manifest. The position is only half-a-milo from the tow/i boundary and a mile and a half from the present tram terminus at Newtown. It is thus within easy walking distance of town, and there is very little doubt that if the course is formed, tho tram line will shortly be extended to Island Bay ; but, in any oase, from its close proximity to tho town, a very large attendance oan be oaloulated upon. To tradespeople and others oarrying on business in the city, the advantages will be very great, as it will bring the country people into town and causo a very conviderable increase in business in the oity at race times, besides which townspeople wishing to attend the races can carry on business as usual on race days till one o'clook, when they can olose their places of business in time to see the races, instead of, as at present, losing tho whole day. The promoters havo only to point to a similar case in Dunedin, where a few years ago the racecourse was situate at a distance of nine miles from town. Finding that raoing was doolining, and the attendance falling off, a company was formed to purchase and form the Forbury Park Conrse, whioh is about the some distance from Dunedin as the site of tho proposed course is from Wellington. The result has been a marvellous success, for that club paid of late years a rental of £1000 a year, with half tho takings over a certain amount and half tho members' subscriptions, altered subsequently to a clear rental of £1,200 a year for the course. The Dunedin Jockey Club bought the course for £30,000, and last year, after paying expenses, stakes, Ao., the club had a profit of £1,500, while this year the .attendance on Cup day alone was 14,000, so that a very Urge profit may be anticipated. The population of Dunodin when the Forbury Park Course was oponod was not nearly as large as that of Wellington at the present day. Tho Ground can also be profitably usod for Agricultural Shows, Sports, Ao. Inquiries have already been made aa to torms on which a portion could be rented for a Cricket Ground; The possession of a good Racecourse close to town will enable Wellington to take a leading position in New Zealand Racing, a sport which flourishes wherever > English people are found, instead of holding, as it aoos at present, a .very third-rato position. It will enablo the industrial classes to enjoy the sport at a moderate cost. As at present, they and their families are, to_ a very great extent, excluded from participation in it owing to the enormous cost. From a monetary point of view, there can be no doubt that the proposed company will be a highly profitable one. The land is in a position where it must rise enormously in value, as it is in the noarest, most available, and beautiful suburb of Wellington. In fact, the Forbury Park Company results will, in all probability, be experienced over again. There the shareholders received handsome dividends, far beyond the usual rate of interest, and finally realised 300 to 400 per cent, profit upon the amount of their shares. Tho promoters are also Confident in the belief that the profits to be derived from a judicious management, and the increased value of tho land during tho seven years term of lease, will be sufficient to pay off the whole of the purchase-money. Forms of Application, Ac, can be obtained at the offices of the brokers, at tho Colonial Bank of New Zealand, and of the Provisional Directors. ARTISTIC PHOTOGRAPHY Executed in the LATEST AND MOST APPROVED STYLE. The Studio is open daily from 9 to 6 o'clook. CAZNEAU AND CONNOLLY, Photographers, Lambton Quay. FRUIT TREES, FOREST TREES, ORNAMENTAL TREES AND SHRUBS. Norwood Hill Nursery (Established 1869). THE proprietor of the above will offer this season, at a still further reduction, the following popular plants from among many othor varieties, the whole of which will be found first-class and calculated to give complete satisfaction. The following are cash prices :—: — Cupressus Maorocarpa, from 15s Od per 100 Pinus Insignia, do 12s Od do (The above cheaper by the 1000) Pinus (other varieties), do ... 10s Od do Hollies ( transplanted), do ... 20s Od do Laurestinus (very hardy), do 20s Od do Enonymus(hedge plant), do ... 20s Od do African Box Thorn (very quick growing, best and cheapest of hedge plants) 3s Gd do Fruit trees (best sorts), 12s to 20s per dozen Gooseberries, currants, Ac, from 6s to 12s do Roses (the best varieties in cultivation, my own seleotion), from 10s do Rhubarb root 3, from 6s do Also, a great variety of hardy, ornamental and evergreen Shrubs, Florist's Flowers, Ac F. MOUNTIEE, Nursorymon, Ac, Tasman-Btreet, Wellington. SEEDS ! SEEDS ! SEEDS ! New and Select, at /\KELL AND LINNELL'S. Okell A Linnell beg to inform the public that they have received their new and rare Seeds, which consist of Vegetable, Flower, Lawn, Grass. Macrocarpa, Pinus Insignis, and Tobacco, and can recommend them v being all new and of the best quality. Cheap Garden Tools. Pot Plants and all kinds of Plants for sale at OKELL A LINNELL'S, Beehive Store A 'Frisco Seed Depot, Opposite Gasworks. Courtenay-place. MILLINERY. A CHOICE, both in style and price, unsurpassed in Wellington, CLARK S CASH DRAPERY WAREHOUSE. WOOL. SEE onr Scotch Fingering, at 2b 6d a bundle ; also our Alloa, in all colours, at 4s, best value ever shown, I AT CLARK'S CASH DEAPEBY AND CLOTHING WAREHOUSE.