Page 13 Advertisements Column 2

Evening Post, Volume CXXIII, Issue 55, 6 March 1937, Page 13

• . : ■-' . "THE COMPANIES ACT 1933" ' - . ' ' (A copy of this Prospectus was delivered to the Registrar of Companies at Auckland for registration on the 26th day of February, 1937. THE FARMERS' TRADING COMPANY LIMITED Hobson Street, AUCKLAND _„ Nominal Capital: £1,000,000 ■ _^ _^ _^ j^ (Divided into 134,887 "A" Preference Shares, 112,491 W ■ ",. W - M V M B V B M^'^m "B" Preference Shares, 125,000 "C" Preference Shares, ' lM I'll ■ ■ ■ ■ ■ ■ ■ » and 627,622 Ordinary Shares, all of £\ each.) . • ■ ;^^^^F A '^^^^T ISSUED CAPITAL o M "A" Preference Shares .. .. :.. £134,887 ' * "B" Preference Shares .'.. ■>.., .. £111,980 V. ' "C" Preference Shares .. .. .. £29,835 Jf^ | • #* I I ■ ~^;r-: ••.;•-,"■ "^ )M Ordinary Share Issue '<<;6 illfliP \w ffpi f 8 w'llrfi iff JSli^»S«Bi^ OFFERING FOR SUBSCRIPTION 200,000 ORDINARY SHARES of the Com-!-'^^^^^^^^^^^^Bi^^^^^^^Hj^^Hj (Note.—Dividend «in» on inttalments of share 'capital from time of payment thereof) J4*i%*%%:f' >-~^; - ,- -\ '-^^^^^^^^^^^^^i^^l^k^A^/tKKt^^^^^SSff^ APPLICATIONS may be made direct to the Company, Hobson Street, Auckland,'of. Farmers' Trading Go's Headquarters, A uckland, showing the Company's Free '• ■ T . • ■■•••'_ ''_--__ __. . . .*+**, ■—■ 2Ji«es, Free Trams, and corner of Free Parking Area. RF A CO N FtJ R THIS ISSUF I—/1 V I LJ t INI L / /YIN L^ VU I IINVJ rxlvjri 1^ For a number of years past.we have been employing as -working capital a considerable sum The "A", "B" and "C" Preference Shares carry fixed cumulative preferential dividends " of money in the shape of fixed deposits, at present-amounting to about £200,000. ■ £i?ek SjSgh?t S tSS1 A^t a^n^iSreiTavS . The W substantial growth of our business over the past few years, requinng^heavier^tocks priority over the Ordinary Shares as to capital in the event of a winding-up. and building extension, and the greatly increased profits which have resulted, make it clear that No shares-may be-issued in priority to or pari passu with the "A" Preference Shares. this money can.be permanently and profitably, used in our rapidly expanding business. By raisTh e : Preference Shares have no voting power except that .the "A" Preference Share- ing share^apital to repay these deposits the interest now.being paid out on same amounting to holders may vote (one vote per share) on-any motion affecting their preferential rights. about iB,OOO, will be saved and our profits increased by that amount, which in itself after making The Ordinary Snares carry such dividend,:not exceeding 10 per centum p;er annum, due allowance for extra Income Tax, will go a long way towards paying the. dividend on this as the Directors, recommend and the Company sanctions.. Their voting power is as fol- new Capital. • ' . ' . ■ -. -. ■..■.'.■;- lows:—Oh. a show of hands one vote per shareholder and on a poll one vote for eachisU _ • _ _ ■ ■ _ ■ ■.;-•'* t • shares, or fraction' thereof with .a maximum of 5 votes provided that a holding of less than The following figures Will give some: idea of the steady and substantial growth of our. pUsi--5 shares carries no,vote.-: • : . • •■ ;• ■■ ■ ness, which shows every indication of continuing its present upward trend. ..'.,. 'DD CV/I^M IC /^-CCCD'The only:public offer of capital by the Company within . _ ■ ■ - : -■. : • . .' rl\Ly.lUUiJ WriCrv the last two-years was in June, 1935,. when the 'C ' ; ' ' '-: ■ ;■ -. ■■■.-■■-■ : ■:"■-.•• Preference Shares-were'created-and £125,000' of "C" Preference and Ordinary Share , I X I/"* DC A CCC IKI DCTA I I CA I EC ' capital was offered for subscription. Of this, shares to the nominal value of £32,977, were • I IXI T l< l«- LX f" . lIXI KflA\ I|_ ij/A L_ E" 3 subscribed,, on which theisum of £32,771 has. been paid up. ' IMV^I\LnwLW I I I\U-I /VI UCUADd rnMMKCIHM The aitlcrunt Paid within the last years " SALES INCREASES On/Al\l- II 11 00 Ivy IN commission for procuring subscriptions for . £ £ £ Sha^n^£^^^ Year Ending March 31.t, 1935 -« " 1,339,286 88,894 exceeding 5 per cent, of the nominal value. Year Ending March 31«t, 1936 ~. 1,604,491 265,205 A I IFMT/^DC Messrs. • Hutchison, Ellifre & Cameron, of Premier Buildings, ■ tet-iMM nUUIIUnJ Durham Street East, in the City of Auckland,, are the 10 Months to 31»t January, 1937 .. 1,572,744 ' Auditors of the Company. -i. ; February and March, 1937 (Estimated) 301,000 D f A A' t P ft 1,873,744 269,253 KCpOrt OT r\UUl'tOrS 3.S HO r iOTiLS, ThJs S h ows an increase in sales in three years of £623,352, or an average increase of over rV* J Jr £ TL C* * I ' 2200,000 per annum over the previous year's figures. L/IVIdCnCIS 6tC. TOT I nrCC rlnanGlal The following is a ten year summary of thejprofits and dividends:—. - . Years UD tO 3I St Metrch, 1936 net profits dividehos °dlv!dehd rate E ■ ■ ■ S AUCKLAND, C.1., 1927 .. , . , #> . . # .. 50,246 20,593 8% . . 22nd February, 1937. " ' ' g% , THE FARMERS' TRADING COMPANY LIMITED ~ *•_•---. mcf . Pursuant to Section 46 of the Companies Act 1933, and to the Third Schedule Part 11 1929 '•" " 49,33 i 0,3 , Jo thereunder: . . . J930 ( . ~ 60,423 34,234 .10% Wcreport. that the profits.'made by The Farmers' Trading Company Limited for the -. fi7 _ -,- n -g ocf n three: financial years immediately preceding the Ist April ; 1936, as shown by the books of IVSI • ov,u// oj,u-^ u/o the Company, were as-follows:— ,- • ' 1g32 25,148 16,893 — Year .ended 31st March, 1934 .. ■'..-'. .. .. .. £31,177.1 5 . " '" "* ' ,„,., Year ended 31st March, 1935 .. .. .. 'i. .. £41,277 3 4 1933 .. ~.., ... ~: 14,200 13,862 — . .Year ended 31st March, 1936 .. ~ .. .. .. £61,458 210 3% The rates of dividend' paicf by the Company in respect of each class of shares in the 1934 • > > ' Company in respect of the said three years were as follows:— V^Zi •• 41,277 25,771 5%" "A" PREFERENCE SHARES: , ' , ri 4=58 26 704 ' 5% Dividend for the year ended 31st March, 1934 ; .. ... 5! per cent. • - 1936 •• OI,<KJO o, / .pi^dSd for-2. year endei list llllttllll " i.- 51 per ISt . In addition bonus shares to the value of £60,846 were distributed in 1936 to Ordinary Share- ' In. 1936 there was also distributed to "A" Preference' Shareholders, Bonus Shares to holders. .• . ■ the value of 11.76 per cent, of their holdings. . ..,,,,- r moo- 1m» +v- ,' r ß r«>r;cuADrc ■ ' NOTE.— While profits were made right through the depression years of 1932 and 1933, the 'B PREFERENCE iHARtb: ~,,,, ~ -■ ' Directors thought it wise to pay no dividend in these years and to conserve the assets of the Com- - Dividend for the- year ended 31st March 1934 .. .. S| per cent. pan y by paying-only mQ-deraVdiyiderids thereafter. : However, when it was :dear. that-the..de- . ffiSdfoTSeyeafSdedSSMlSSlMi- ". ' " H X "nt! ■ to well past, Bonus Shares were distributed in 1936, amounting in the case of Ordinary . ■"■ In 1936 there was also distributed to "B" Preference' Shareholders, Bonus Shares-to • Shareholders, to 25f0 of the value of their holdings, ..... ..-y the value of 14.28 per cent, of their holdings. • Taking this into consideration it shows an average■■return over the 10 years of 8:2% per ORDINARYiSHARES:. . • . . " , ■ annum, free of income tax, being 5.7% dividend and 2.5% bonus. If calculated over the past 3 Dividend for the year ended 31st March, 1934 .. .. 3 per cent. . years, which covers the period..during which the Share Bonus was earned, it represents a return. • Dividend, for the year ended 31st March, T935 .. .. 5 per cent. . , - J ,^ annum for this period. ' Dividend for the year ended 31st March, 1936 .. •• . 5 per cent. ot l/.D/o per annum lor tnib. pcnyu. . In 1936 there was also distributed to Ordinary Shareholders, Bonus Shares to the The profits for the year ending 31st March, 1937, from the figures now available,.will exceed. value of 25 per cent, of their holdings. ■ • • ■ £100,000, which after allowing for income tax will leave £62,500. The Directors purpose rollowHUTCHISON, ELLIFFE & CAMERON, ing the same policy as in the past by recommending only a reasonable dividend this yeaiyviz. 7% Public Accountants, .. - (this would of course be free of income tax) which with the preference dividends will absorb Auditors of the above Company. goo, allowing the balance to be used in the expansion of the business and creating the basis for ■ : '■ '—— "T" " a { ur ther distribution of Bonus Shares in which the shares now offered would be entitled to - DATED the 26th day of February, 1537. A. A ROSS, nartirinate • ' ' ■ ... ■ : : •■ • . ■ • • ' Chairman of Directors. "• participaic. . ————■ ; ' —*-—^-^-I— . "I IMPORTANT ' :.'. ...'.■ APPLICATION rUK brlAKtb • T j le reason f or charging a premium of 1/- per share, thus making the. •■■.-■••" ■ ...',. price of a£l share 21/-, is as follows:—Our shares have for 9Cn-fe time past , TO THE DIRECTORS OF been selling above par. On the lSth February the ordinary shares were - - HObIoJ STREET, AUCKLAND . quoted on the Stock Exchange list, Buyers 23/6, Sellers 23/9. This was at a GENTIEMEN— ■ time when the public had no knowledge of the increase in this year s profits - l Referring to the Company's Prospectus offering Ordinary Shares for subscription at 21/- each, I enclose the ' .. as.revealed herein. e^ch in the-abov^amedC-S^y: '?*££ r^t *r to ™Upr=T^=«"of "ti^^l Sre^y agrfl ■ ' We realise, however, that the offer of a large number of shares will pro-to-accept such shares or any smaller number you may allot me, subject to the provisions of the Memorandum and . bably.bring, the price down temporarily, but to protect present •shareholders Articles of Association of the Company, and T'agree to pay a further 2/- per share on allotment and the balance and buyers of this new issue we undertake to put the price, of unissued as called up pursuant to the said Articles. ~ • .' Ordinary Shares up to 23/6 as from the 7th April next. Whether the;fuU ■ ' -. ■ ' . 200,000 have been applied for or not we undertake not to accept applications .. ~..-....- Ordinary 5ignature........... .■.- - . for ' any further Ordinary Shares after that date during the remainder of -.1937 . •■Pleasa ' ' Name (in full) ----- ■ - ' at a less'premium than 3/6 per share. ■■- • ■ ■•-, ■ .. ;. (Please state if Mr. Mrs. or Miss. If-Mrs: give husband's name in brackets) . ■ ■ ■. , . Address (Residence) _J-J^l ,-^ • - ] Your application for these shares at 21 /- . -,--.■■., •-.-.• -■■■■■.-■-' D t '• ,907. ; must reachus not later than April 7th, but as' the total issuemay be applied . l Occupation...: _.... - ua ~ J . for before that date we suggest you send in your application" without .delay; ' THE FULL AMOUNT MAY BE PAID IN ONE SUM WHEN THE APPLICATION IS MADE, ./: f,'::, ': v..-.- --. ■ • ■ ......... IF SO DESIRED; . , ■■ ;■ __^__ . -.-.V^ ■■."■ .■ ,