Page 13 Advertisements Column 2

Evening Post, Volume CXXIV, Issue 3, 3 July 1937, Page 13

This notice is not to be regarded as aninvitation to the public to subscribe for debentures, and applications will only be received on the footing of the full prospectus dated 20th May, 1956, and duly filed with the Assistant-Registrar Of Companies at Auckland, and in accordance with the form of application obtainable from the-secretary. SHORT PARTICULARS AN AUTHORISED TRUSTEE INVESTMENT GROUP A 2 OF AN AUTHORISED ISSUE OF £5001,000 DEBENTURES BY IZ. .DAIRYFASi MORTGAGE COMPANY LIMITED In denominations of £50, £100, £500, £1000, or in. such higher denominations as applications may ■warrant. Debentures in Group A 2 bearunterest at £3| per centum per annum and have a currency of 20 years from Ist April, 1937, subject to. the right of the Company to redeem at par at any time or times after 10 years the whole or any part of such debentures on giving at least six calendar months notice in writing. ' . TRUSTEES ARE AUTHORISED BY SECTION 5 OF THE TRUSTEE AMENDMENT ACT, J935 S TO INVEST FUNDS IN THIS ISSUE. DIRECTORS: . ROBERT HUGH McKENZIE, ESQ. ' • (Chairman of Directors, New Zealand Co-operative Dairy Co. Ltd.)» • CHARLES JAMES PARLANE, ESQ. (Ceneral Manager, New Zealand Co-operative Dairy Co. Ltd.)* WILLIAM .GOODFELLOW, ESQ.. (Managing Director of Challenge Phosphate Co. Ltd.). JOHN McLEAN COCHRANE, ESQ. ■ (Retired Banker, representing the debenture-holders). The above-mentioned Prospectus indicates that:— (1) The principal object for which the Company has been formed is to meet the requirements or supplier-members of The New Zealand Co-operative Dairy Company Limited (whose paid-up capital is in excess of £1,250,000), for farm mortgage finance. (2') No moneys will be lent by the Company other than to farmer-suppliers of the Dairy Company on first mortgage security of their farm properties, nor in excess of two-thirds of the value of the security. (3) The authorised, capital of the Company is £1 00,000, which has been fully subscribed and paid for in cash, so that in addition to the benefit of the securities from time to time held by the Company, debenture-holders will have the further security of £100,000 of shareholders' capital plus a reserve fund to which every borrower is required to contribute 2 per cent, on the amount of his original loan. (4) In conformity with Section 5 of the Trustee Amendment Act, 1935, the Company has power to borrow up to five times the amount of the paid-up capital for the time being of the Company. POINTS TO BE NOTED: (1 ) The Company's securities are a convenient, sound, and easily-realisable type of investment, not only for trustees but for the investor of both small and large amounts. (2) The investment -offers that spread of risk which cannot be obtained by the small unit or by individual investments in farm mortgages. . (3) The first issue of £50,000 debentures comprising Group-A of the total, authorised issue was fully subscribed, while subscriptions have already been received for £30,0000f debentures of the Group now . offered for subscription, namely, Group A 2. . . BANKERS: AUDITORS: National Bank of New Zealand Ltd. Messrs. Hutchison, Elliffe & Cameron, Public AccountBank of New Zealand. . ants.'Auckland. SOLICITORS: TRUSTEES FOR DEBENTURE-HOLDERS: Messrs. Earl, Kent, Massey & North, Swanson Street, Stanley G. Chambers, Esq., Public Accountant, Auckland. Auckland. Norman A. Duthie, Esq., Public Accountant, Auckland. BROKERS: SECRETARY: Any Member of a Stock Exchange affiliated to the Stock F. W. Groom, Esq., N.Z. Co-op. Dairy Co.'s Buildings, Exchange Association of New Zealand. Hamilton. Copies of the above-mentioned Prospectus and forms of application for debentures, upon the terms and in the form of which, respectively, applications will alone be accepted, are now available from the Secretary. Investors should communicate with the Secretary either direct or through any broker or branch of the National Bank of New Zealand Limited or the Bank of New Zealand.