Page 15 Advertisements Column 2

Evening Post, Volume CXXV, Issue 115, 18 May 1938, Page 15

X Copy of tie prospectus Ens been flled with Hie Registrar of Companies at Wellington for registration on the 16th day of May, t938. NOW OFFERED FOR PUBLIC SUBSCRIPTION O/o CUM. PREFERENCE SHARES 250,000 of fl each at Par. TODD MOTORS CORPORATION LIMITED (Incorporated under Part 2 of "The Companies Act, 19SS"). {Divided into 500,000 Ordinary Shares of 10/-each .-„] >-« W £250,000 and 250,000 6% Cum. Pref. Shares of £1 each .. v ' .., ™ £250,000 The 500,000 Ordinary Shares are to be allotted ii* part payment for the assets to be acquired w W_»_»aA **_%*% hereinafter mentioned. £500-000 These preference shares grant a preference a* to both dividend payable out of profit*, and as to eapHal In a TEEMS OF ISSUE.—S/- per share payable on application. 5/- per share payable on allotment, the balance, _i-_i-- —n i. -..-..,__« «„ „„_ .»-•>•«. j. _» «.- -»<...-_. ai,m~- .t K.i» -_-i_ •_* i -... _..* A,-ti.-a M /' ner ■ mwe PW l *'* within one month after allotment Application la being made to the New Zealand winding op. Rla proposed to pay dividends on the Preference Snares at half-yearly Intervals. The flrst dividend stock Exchanges for listing of the above preference shares Application may be made through any Member of for the period ending on the 15th of November, IMS. wIU be for a broken period. A Preference Dividend 2, N T* Z< s! and t St i°a k B , xcha " **,?*, *5, ro "* h «W Bf a n«» °* *_* N * tlo P al *»2S "* i'* w j?** l *?* u S d *2? i LJ!?\ . direct to Financial Services Limited, Bethune'g Building, Peatherston Street, Wellington, OJ <John S. Barton, Equalisation Account of £30,000 h to be created la priority to any dividends paid on ordinary shares. C.M.G., Chairman of Directors). DIRECTORS: I ' MB. JOHN S. BARTON'S BEPOBT AND CBnTIFICATII!. , " , "~™" — """Tl COMBINED BAIANCB SHEET.—Set out hereunder Is a pro forma financial statement CHAH.TJB& TOTJT) nt Welli--ton Mprchant Chair-inn - -~ '-~;.-, -+. Showing the COMBINED BALANCE SHEETS, as at list March IBM, for Todd Metore chabuss todd, of wemnffton. Merchant, unairman. To t%e jyi reotor g t Financial Services, Lta\, limited and Todd Motor Industries United; this is the combined Balance Itteet EDWIN PEECr YALDWYN, of Wellington, Retired Bank Manager. (Formerly Man- Todd Motors. Limited, and Wellington, described as appended to the letter ef Mr. John 8. Barton, CJt.G. i n affl am ™ d Jf< S^-*Jf WM ' Umite *> sth Uav ' l9sß ' Z vuxwaax ~ ' liiirl "— Wellington. Mortgages &Wfig» tend and Buildings «lSl,Bua JOHN MOODY ALBERT ILGTT, of Wellington, Company Director. (Governing Dear Sirs, Bank 128£<H Plant, Toole and Furniture .. 17,898 Director, J. IIoM: Limited iiCbalrmaii of' Directors, Golden Bay Cement Co .Ltd ; I have used your respective audited accounts as at Slst March, 1938, to Shareholders' Deposits, Bills _ Stock „ MMB Local Director, National Mutual Life Association of Australasia Ltd.; Director, nt . nnJ , ~„ f pn/t -„t a *,„.„. nf „ n 7,, n fin* n-f fh* *hjir*»\t Tn/M ana Creditors 81,189 Bills Receivable 1MS,«1" McKenale's Department Stores Ltd.) provide and check two separate oases of valuation Of the share* of Todd Provision for Income Tax .. 80,800 Debtor* (Secured) 17,480 Motors, Limited, and Todd Motor Industries, Limited, which are to be pur- ~., . Debtor* (unsecured) ........ SWTO CHARLES PATRICK TODD, of Wellington, Company Director. ' chased by the proposed new Company. __ C2W,6*o Cash and Inrestments....... .I^W Firstly, I approach the question, "What asset-baoUng U there for the HV ehol J? w ?i.? ,ul Sundries ..__.......-««.» MJ,Olt DESMOND HENRY TODD, of Weliineton, company Director. £250,000 of Preference Share Capital which the public is asked to subscriber ieserVeWferVed BRYAN JAMES TODD, of Wellington, Company Director. / sought an answer to that question by a study of the assets scheduled in Profit* .. 110,880(»J . vn T.rflTO. -j «■,» x «. _* the Balance-sheets, commencing wifh their recorded book values and making ■■' ■ aoo,BM ANDREW TODD, of Wellington, Company Director. all prop6r and justifiable adjustments on a conservative basis. I append a £600425 £6004* combined Balance-Sheet based on boolt values, and from that I prepared an ' ' ..., at taw wiifto.' trustedßalance-Sheet\ bringing into account all unrecorded assets and values (1) w , tt Ke&Ti t0 tn^arß „,„, M tt9 MMtB w „ite te Mr. J»lm s. Bartonf letter. ALLAN HARRIS, Company Secretary, WeUtagtim. and disclostng clearly tlie consequent adjustments which J had made. J have .. ~ alloiced these adjustments only after a close and careful scrutiny and checking properties.—The Item "Land and Buildings" in the combined Sheet Banke " s ataU points. In the result lam of the opinion that the poslton revealed by XaWe bundfnf &"?& CourteX WeUinrton It ha. bSU THE NATIONAL BANK OF NEW ZEALAND LIMITED, Wellington. the adjußtea Ba i ance .Sheet, viz., a backing of net assets worth at least valued recently b S y Mr! S Ge^ £350,000 is established. £17,000 In excess of the Company's book value, which is based on cost priee. lees> „o M so». » Mil *. mo™ vssszi « «-.... «*. c, ES&ggS&SvSi&SiMaSSB . ... . the undertaking?" I find that after allowing for all charges against profits, church, Dunedin, InvercargiH and Tlmanr. It has In addition a well-established ™«»«m m™>« M .„« tt W ot«™7« »»v _*" « » »rr.i _* ~, (tctml and Contingent, the combined net profits of the two Companies for their organisation of lndependeni: retailers both over the North end Son» Island*. EB«EST HUNT, AND HESLOP, 127 Featherston Street, CI. respective completed yea r, after proton for income too,, are a. *™Zt e %£& «t^S Ore an i«i nl r Comnanr- follows:— g, at,3lst March, 1938. were 227. The factory can turn out 6,000 cars and trueki -r„.„«r.» e.,.„™,„„ ', .„ T f /". **, ..v t„ c «_» Todd Motors, to 30th September, 1937 .... £58,008 per annum. The building Is erected on a Government Railway leasehold at McKeaste " ,U,ICI B<Urton ' ToM Motor Industries, Ltd., to Slst March, 1938 .. '.. £ 6,90 «rroad ° B * ■ • —7T7TZ Set out hereunder Is a pro forma FINANCIAL STATEMENT of TODD MOTOM Beglstered Office: Total .. .. £64,955 CORPORATION LIMITED on completion of the proposed capitalisation s— 110-116 COUBTENAY PLACE, WELLINGTON, CJ. r •■ ; — ■ ■ ■ '" , ' '" A simple calculation can be made to use this figure as a cheek on our „ „ LIABILITIES, mmmm , M^L assets. ..._i_._ „ , t , , . capital value above. These profits capitalised at 7 per cent, justify a capital £ Sn'2s BoMta* tn gnbeldlarle. ..... amsm Ordinary Sharea... mm , will be in fun control of both operaUng companies. The purpose of the formation of £500,000 they provide an overall return of IS per cent. This would represent £600,000 MMMXtt this Company is firstly in effect to convert a family concern into a Public Limited 20 per cent, on the preference share capital and that percentage would cover -'"' " ~* wL n f,TA r n c „n ed . - J!!3K,2^S?. ! JL %is!!^. d 3!S£% the ******* <>» that capital more than four times over. : '■ •■ ■ m These< figure, Obviously leave a large margin for business fluctuations. %£*»*!?& SJSSnt&S^S^ Secondly, ft la designed to secure throughout the Dominion the support that may The decision and undertaking of the Directors of the new Company to create Bryan James Todd and 2 WSrntn^* 611 t0 MBoclate ltseK " ith a et **«•* & the c <>™™ out of future profits a Preference Dividend Equalisation Account equal to two sa7egua?ain B t£? contlnnltv tt7 bnslnesiTwhleh ha' bt?nm»naged and P de%SSd ana us prospect, " years' full preference dividend will effect a substantial increase in that mar- successfully up to date. The same gentlemen, with ethers, will be member* «f the TEBMS total consideration for the purchase «at 31st March TtE?JZZ "T * **"« j^pS^^SrT,^^ IMMbrfißOoSouipayaWeas to in SOO.OW ordina?y ihareV reasonably raise, that the preference dividends cm be maintained over a Company these gentlemen vrill in the ordinary, way be subject to control by tfflt as fully paid and as to £250,000 in cash. The shares are to be purchased on the basip pertOtt Of trade recession, if such should arrive. shareholders in general meeting;. Atrnhe new Company will be the only shiwholdcf of the respective audited balance sheets of the Companies prepared as at 81st March, J have personally examined the accounts books and records Of the Com- 'I!? 6 ** ?P a t" 10 "**- nominees) In the two operating Companies, it will express It* 1038. The position revealed by these balance sheets Is that disclosed by the taking or vanle . an * .rtth wi lU>* tbe exercls « °* tts voting power at general meetlnes of those Companies. accounts by the two operaUng Companies and the consequent ascertainment of pronts Pontes ana sansflea myself that the trading results have been arrived at mm VOTING POWER—At any general (ordinary or extraordinary) meeting of the •*# up to the 81st March, 1938. The profits thus ascertained am for a period of 12 » ««« regard to sound business and accountancy principles and On a careful Company on a show of hands each shareholder (preference or ordinary) and en a months in the case of Todd Motor Industries Limited, and" for 6 months In tshie case and conservative basis. Yours faithfully P°" e * c ' 1 share (preference or ordinary) has one vote. of Todd Motors Limited. JOHN S. BARTON. GENEBAI OB EXTRAORDINARY MSBTnraS win ordinarily be held lm WelOhairman of Directors. ""Ston. SPECIAL PROVISIONS FOB PREFERENCE SHAREHOLDERS— ' DIBECTORS' PEES.—To be a fixed sum determined from time to time by tb» t.\ a nipiTir innn AfirnmrT. „.»«»,» . nn .^n. n .. mt « .. „ . Company in general meeting. The Articles provide that all fees of Dlreetora (a) A OAPITAIi RESERVE ACCOUNTS earning CAPACITY) AUDITOR'S REPORT.—The financial results over the last (whether of the new Company or orthe operating Companies) sheXl be fixed by the The purchase of shares by the new Company Is to be made on tho basis of the nve years, and especially the progress made since the Assembly Plant has been fully shareholders of the new Company In general meeting and paid by the new Company retention In the business of the aforementioned profits and tbe assets representing working, are shown by the following Auditor's report:— only: and shall have regard to the value of services rendered by such Directors in them. No dividend is being paid by either of the operating Companies out of the any or all of the said three Companies. profits as at 81st March, 1938. In the books of the operating Companies the total sum ERNEST HUNT, TURNER ft HESLOP, nntEflTOßfl' OTlATtmr»TTnw_T/, K. ft.* hnMln. *t mt lauf «MM wait* Cat of «74.17*. being the whole of the net profits of both operating Companies a* at that Public Accountant*. Wellington. -.V? of .w». in nliSZi* "* BOlalB K ««* "•«* « B0 <» w °"» *» date, snbjert to Income tax, will be transferred to a Capital Reserve Aeeonnt to record " w -» uu " u ™»- 6th Mr IMR. S£ ' S?.™? 16 " i 4 ff new Co " , P B « r . ,_ ik _ __ M __ ,J n r«.,™ thl. h«li PhaviM TnilH m.n wn Ma "' xwß " * BB Directors of the new Company ether shaa Kenrs. Taldwya as* Hot* saw and preserve this basis. Cnarles Todd, B«l.. T lra ,t„* „„,, uterested tn the promotion of and in the property to be acquired by the Con»««y (b) A PREFERENCE DIVIDEND EQBAMSATION ACCOUNT, " To« Motor IndlrisTrl" Wmlted, Wellington. *ffl S^^^Ss^^SlSs^SlSS^ Md *" " UOttW " * * The Venders of the shares, who are the holders of the ordinary shares In the new Dear Sir,— <* There are no Founders, Free, Management, or Deterred Shaves. Company, have agreed that the first profits of the new Company available for dividend In accordance with your request we hereby certify that for the financial years »a»TrriTT iiu nw WTwmrmw amount Tn Br -i-i— - ahallbe appropriated before any dividend Is paid on the ordinary shares In the new as set out hereunder, during which we have examined the books and accounU of £*£? , C tn^Sn^S.^? k. r s2si h. rtJrl«Sr?iirT«sKiSll a» follows:- Toad Motor Company, Todf Motors Limited and Todd Motors Industries Limited, *? lcll ij L th % < t pln,on „ of » *v 8 D i?'«2J . m '«J?i**S? ¥LJt r J XI . mu^LSTSSS wwnpaay as rouows. profltg >g m enclosed b y the Companies' books. These sums repre- ? oare " ?, ffered nerewlt h to be provided In respect of each of the following matters (1) Payment of 6% Preference Dividend. sent the net profits (shillings and pence omitted) after providing for all expenses ™ w p„! t ,! I„.M„.H«« rf MN «.. »l» Mlt.OM «) Trtnrter to a Preferenee Dividend Equalisation Account *IM**. including depreciation, but subject to Income Tax. , of purchase price .. .. .. *W»W nwrcaftorf-rther annual transfer, of proflt. to Knancl * l *<** Uotot IW«Wt. Motor P S ro Limitel Totol ""T **!*"!. *J* "T^^Nn tion Account are to be made in priority Dividends until the sum of «»O.W» Year> Limited. and Todd Motor Co. Proflta, Expenses, nelndlng aUmp Arty, ieglsln aU has been so credited to Preference Dividend Equalisation Aecounfc It should be (Tetr endg 31it MarcW (Tear ends 80th > "• "ration; legal expensevprtfilnif » m noted also that tbe brokerage agreement provides that alt the preliminary j expenses g £ Brokeraire . . . f. 2 !! II Nfl of and incidental to the promotion of the new Company shall be borne and paid by 1933 mmm . 1,454 1.4 M .. , mm* «- ______ Todd Motors Limited. 1334 — 14,681 »«|««1 £160,000 1035 — 10,961 these payments are by terms of the brokarag* agiesuieut to be paW by Todd Motor* 82^^^^ secured and' garages established in several towns. 1086 1,015 <b>oos 48.10T Is the Intention of the Dlreetora to go to aHetawat when sn*- . , 84 7T5 Oat scrlpttons for 190,000 preference shares have been received. In 1928 the Motor Car Department was reorganised as an Independent private partner- ips 7 17,460 <■) Kjsu uo!a7a No goodwill is Included in either balance sheet sndno goodwill has been paid for tf ship trading as Todd Motor Company, converting its activities from a retailing agency „_, . . . . __„_, lrt „ . t .. -.__,__ __ la to be paid for, except In so far u the goodwill Of the businesses enters Into ttak into a wholesale importing and distributing house. This business again was fncor- W™» w »» *f« ™* Jf«w » S£*nK2E5 MI O 2r M "■ ? " the ctrrytaf f*»> purchase price of the shares. . mm l • SviMivi T.fmitorf T.uhtiitv Comnanv in lflSi and is now Known as Todd ward of deferred profits on Hire Purchase Sales, the total provision amount- ______:,._ „™.„_«i__. ____«_»_.- —~,,-, _. _~ -_ _~ ln » t( > £85,668. ftn previous years provision hkd been made for the defer- 5, B ? KBB . A 6J B i COMMISMON, PRaxmpAßT EXPENSES ara psad by Code &S£S«a%3r£ttS =«.»«.!!!sr» ---— — «■- contracts do not contain any stipulation binding the T Importers to take a mlnlmuin of the-operating. Companies werei— DATES OF AND PARTIES TO MATERtAX CONTRACTS^number of vehicles per annum or to continue to take these vehicles lor any fixed Todd Moto „ itoited, 6 months to March, 1988 £613*6 W £P T J*™ n } dat T e , (, " th M "7 J 9 ? 8, /,°l ,nter « H » the sale and PprchMe of J***?* l 2 period, or, on the other hand, any stipulation by the Importers for a fixed term. Ar- Toda Motor i n a ng tries Limited. 18 months to March. Toda Motors Limited and Todd Motor Indnstries Limited between Charles Todd, rangements are. instead, founded on the basis Of confidence confirmed by mutually &»..".. .7 ~ ~ n»_Jnarcn, Charles Patrick Todd, Desmond Henrv Todd. Bryan James Todd. Andrew Todd, satisfactory results of an expanding business over the periods above mentioned, cover- , ' Mary Todd, Kathleen Mary Todd, Moyra Patrick Todd, and Sheila Margaret ing fourteen years In one case and seven in the other. totai* nnder above two headings .. .. ~ £74,178 Whyte as vendors of the one part and Herbert Taylor of the City of Wellington, ._ x . „ .. ._..... Solicitor, as Trustee for and on behalf of the Company of the other part A fundamental change was made In March, 1985, by the formation of Todd Mo-tor yours faithfully, (2) Brokerage Agreement dated ttth May, 1988. between Todd Motors Limited and Industries Limited, which erected an Assembly Plant for assembling motor vehicles ERNEST HUNT. TURNER AND HESLOP. Financial Services Limited and John Saxon Barton. in Petone, Wellington. Since then the motor vehicles have been Imported in an un- ...„,,.. romnsnios though indcnß n .i,mt ti.mih. r„™„.-i_. .« (*> Agreement dated 11th May, 1088, between the Vendors and Financial Servleef assembled (classified by the Customs Department as "C.K.D.") condftlon, gain ng the *S!™" t n f_ w^K% ot ™^| > Limited whereby the Vendors undertake to subscribe the residue «t prefereaeX benefit of lower freights and a preferential tariff rate, and thus firstly, achieving the ri 0 ??^,"'°Pf"f l 'P%,..£S™, < IJ*°JSPX li ™ l i e 2 5s 5 s Im .P orter °i t Se C.K.D. vehicles, shares. If anv most favourable basis for the Importation of vehicles and secondly, abiding a useful a » wholesaler and distributor of the manufactured vehicles, and carries on hire pur- «. Agreement dated Uth Mav 1988. between the Vendor, and Herhert Ta*lo> of SSt the Pomlnlon. 'The, worklng^allfance 5 ol! Todd <$&&%&» ' o fe W WelUngton. for «d o? brtilf•?&• C?mP^yt Motors Limited and Todd Motor Industries Limited constitutes one of three! organise- ae b c e on » £ ol °/ a i 2 ae new CoSnany P inter-working regtrictfng competitive activities by the Vendor Dlreetora. lions In New Zealand that undertake the Importing and assembling of both English ™_i D o pooiea in uu new company. „ nr .,„ », f v . „„ nt ,..t. ... .. i. «■-„„—»j. ... _, »...^. M . and American C.K.D. vehicles and their distribution throughout New Zealand. Tn»vn™» «»-. «-.-- —.. \* , x . , _. , , , . Copies of the said contracts, and of the Memoranda and Articles Of Association .«_ MU v. » TURNOVER AND STAFF.—The total turnover In the last complete financial year was the two operating Companies, may be seen at the offices of the Company's Solicitors, -~ --.«« <*._.•_»■_ i. «... ..1- ♦~- v_. mmrmmA ..4 ( n x m -,j M f „,,_„ "'eT for Todd Motors Limited (for year ending 30/9/87) and over «18»,O0O Messrs. Morlson, Spratt, Morlson and Taylor, and Of FINANCIAL SERVICES The Todd Organisation Is the only fully New Zealand owned and Independent concern for Totld Motor manstrles limited (for year ending 81/8/88), making a total of over LIMITED, Wellington. In assessing the prospect* of this undertaking It Is necessary to visualise Approximately 1,190 people are employed throughout New Zealand In the assembling, S H 4 R £' £ Sn« and remember the place of the motor vehicle in modern transport. Trade eondl- distributing—wholesale and retail (including dealers)—and servicing of the Companies' t« i Trn™ «*-9'.» m/&—. ttons may change, trade flnctnatlons may be unavoidable bnt motor transport Is an products. ->■ &• ■*v," J Yii' „_. tsSwww nSS— Integral feature of our economic lite. Our trade routes and the roads which serve Both operating Companies are registered In Wellington. '■ « m SfSl ANDREW XODDV them, the layout and organisation of our industries and, to a large extent, the spread it is intended that the Accounts shall be audited by the same Auditors as those of tbe 5* S' finff of our popnlation are based on the possibilities of the motor vehicle and anticipate new Company. The new Company's financial year will close on the 18th November J ' y ' llolu and depend on a continuance of Its use. of each year. Dated the 16th day of May, IMS. The Vendors are the member, of the Todd family who hold the share, at present. BALANCE-SHEET OF THE TW(V OPERATING COMPANIES " By the above transaction they, as holders of practically the whole of the ordinary t.tatstt,t-t18«. "* Mn«*. loss. ..„_. shares In the proposed new Company, will retain a substantial part of their Interest UABILITIEH. ASSETS. in wholef undertaking. Asa further Indication of this Intention they have entered Industries Ltd Ltoited . Todd Motor Todd Motor. IntoTanTagreement with the new Company to retain severally not less than 60 per cent industries _*«. Limited. Indnstries Ltd. Limited. In ordinary shares tor a minimum period of three years from the day of allotment BEpmßn mm TWiw_ FIXED ASSETS- _ * and also flfey agree to take up any preference shares offered herewith to and not sub- SECURED LIABILITIBB- . t&W m Laid andl Buildings „ M .. W. 807 (41 U5,788(T| scribed for by the public Bank*.. I*. .. " 5 H Z 7. 888 lllftM (? £ lant •£? nltu » •♦ •• ♦• s'g* « *^* ... . , BlUs Payible .. .. - « I* Z .. - 13,839 Tools, Fixtures, etc _, .. ». WW _ The names and addresses of the Vendors of the said shares, which to the only pro- * 868 202,828 i|.t,o AT t NO assets- ~~~ BWW MWJ * perty to be purchased by the new Company, are:- . .. .. » 4^ B t m Provision tor income Tax ™ nm g fffl, 11 ZZ || | »S m a S flSloS Deferred Profit on Hire Purchase Sales .. .. - 43,821 Work in Progress .. '.'. .1 " *- W g« 2na S £■» Unearned Income and Internal Accouuts .. •• — 28,498 ttf e i ngn rance Premiums .. .. — 12881 rIM II SS3 -fc 5-g -B.J AUTHORISED CAPITAL-Fully Paid ~ .. 25,000 185.000 Prepaid Ex?ensfs and Sundry Accounts 683 3j3b Veßdors. g| Cash. PROFIT AND LOSS APPROPRIATION A/C. .. _W135(2). (8)84226 tre P"" n >»• Beß »"" "»°»ty Accounts pw jjm *J **| % lt& 0 ' £ i!_f cm,m . -«J*g *■__§ c"§ ©ll $£si£ Contingent Liabilities—£46o. S e.d. CHARLES TODD, Director. <« iW'Tr, /io^^ll^,[ Ma w '? kefl « l * Street b%t!dlngi, WenjngtOß, wpty. Charles Todd, WeUlngton 25,105 3.804 38,088 0 0 76,078 DESMOND HENRY TODD. Director. *«%Ki^ 9 W- , ?,^nJ , rii P .l r „sSstt. ,« ! «o« . , k « i. ' £i P ±Ma" P/103 ll°o4 ffilSS W* In accordance with the provisions of "The Companies Act. 1938. we report to B, ""* «»""* . Desmond Henry Todd, Wrillngton . 2,),103 3,804 38,035 10 0 76,078 meni bers that we have obtained all the information and explanations we have required 8) Being profits for 6 months. ! ?SL J w«iiKs ??ina i'ml '■wot? nn 7no7fi in respect of the accounts of the Company examined by us. and In respect of the above (4) Cost price. £19.240; Depreciation Reserve, £3378. ' ifn? w-Jninitnn nR7I ffi UOT'.nn Balance Sheets, and that in our opinion such Balance Sheets are properly drawn np (5) Cost price, £14,491; DepreciaUon Reserve, £5,667. wSfhi. T J?m.«Ip«SS wpi'iiAVtnn"" n'ft7l ini 2o nM so as to exhibit a true and correct view of the stato of the Companies'affairs according 6) Cost price. £7,149; Depreciation Reserve, £2,902. I 1 II i t b o oot\ b / S t ß e o C o° m r pin f ir atlon °* '° US Bnd " *"" "" "" h cKh^Tnd'-^a^ *"*"> -*** V«f-tl- _f Sheila Margaret Whyte, Wellington 0.870 1,405 14,054 10 0 29,905 ERNEST HUNT, TURNER AND HESLOP, (8) Secured by conditional Purchase Agreements 165,000 25,000 £250,000 0 0 500,000 Public Accountants, Auditors. (9) I°?,l^, ln S "f? h S* rs ,f Hm„ 8 , , 12*' wM « h wo »»»«-*" _____ ' ' ' T—oiii--f«- «n. iur«- ima actually less tnan 14 days normal turnover of such vehicles. Wellington, 6th May, 1938. (M) Polldeß on m £ of direc tors with A.M.P. Society in favour of Company. - « ■ I COPIES OF PROSPECTUS ON APPLICATION TO ADjr Member of a New Zealand Stock Exchange or to any Branch of the National Bank of New Zealand, Limited or direct from Financial Services, Ma-tod, Bethnne's Build*V*J_«y„ 4J-K*' !--~y* ii**. v *- *-».*-•-—v**-*v*» *v iuih Street, Wellington, 04, (John 8, Barton, CJI.G,, Chairman of Directors), -.."—- "-— - "