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LOST AND FOUND. LOST, Setter Dog. Finder please return to 4 Princes street. Any person found detaining same after this date will bo prosecute iL I' OST, Handbag, containing money, between J Octagon and Albany street; reward. Apply Publisher, Stab Office. OST, from Roslyn, large White Cat; reward on giving information. Address “ Alpha,” Post Office. PROSPECTUS. PROSPECTUS OP THE Talisman dredging company (SHOTOVER), LIMITED. To bo Registered under “ The Companies Act, 1582.” CAPITAL £12,000. In 12,000 Shares of LI each. 5,000 shares paid up to I s reserved for the promoters; 7,000 shares to bo offered to the public, payable as follows; —Is on app.ioation, Is on allotment, the balance in calls not to exceed Is per month. Provisional Directors: A. J. Burns Robert Martin William Simpson Charles M’Queen George Gillow. Bankers; National Bank of New Zealand, Bfokeu: Andrew Hamilton, Exchange Court. Interim £ kcuetary : Andrew Hamilton, Exchange Couit, Solicitors : Stewart and Holm°3. This Company is formed for the purpose of acquiring and working the Claim on the Shotover River which is situated about three miles below the now famous claim of Mr Sew Hoy, at the Big Beach, and adjoining the Golden Ear. This Claim is most conveniently situated, being close to the main road, so that coal and all materials can be placed on the ground at a reasonable coat. It is proposed to work the Claim by a bucket dredge, similar to that at present working on the Big Beach, with all the latest improvements in dredging. As soon as two-thirds of the shares are subscribed, a contract will be entered into for a dredge, which will then be placed on the river without delay. Nothing need now be said of the immensely rich gold deposits of the well-known Sfcotover River, more especially about this locality. At the lowest calculation tho proposed dredge should lift HO tons per hour. It will therefore be easily understood that tho returns from such an amount of gold-bcaiing stuff must bo very large. All expenses for floating and registering the Company to be paid by the Company. Applications for shares will now be received by tho Company’s Broker, and the Shaie List will close as soon as the requisite number of shares shall have been applied for. PROSPECTUS OF THE DUNEDIN OPERA-HOUSE COMPANY, LIMITED. Tobsregistered under “The Companies Act, 1883.” CAPITAL ... L 25.000. In 2"),000 Shares of LI each, on which it is intended to call up 10s per Share—viz., 3s 6d on application, 2s (id on allotment, and two calls of 2s 0d each at intervals of not less than three months, namely—--10,000 Shares paid up to 10s taken by the Vendors in part payment of purchase money 15,000 Shares offered to tho Pnblic. 25,000 Provisional Directors ; John Barron, Fiq., Merchant, Dunedin Alexander Bathgate, Ffq, Solicitor. Dunedin Alexander Bmt, Eiq , J.P., Manufacturer (A. and T. Bmt) Mark Cohen, Esq., Journalist. Dunedin James Gore, Esq.. Builder, Dunedin F. H. Hart, Esq (Cutten and Hart) D. Wishart, Etq., J.P. (Messrs Chan. Begg and Co). Brokers : Messrs R. and A. ,1. Park and Andrew Hamilton. Solicitor : Alexander Bathgate, Eff. Bankers : Bank of Australasia. Interim Secretary: Andrew Hamilton. This Company is formed for the purpose of acquiring the Freehold of the Princess’s Theatre and Provincial Hotel and Saleyards properties, consisting of halt an acre of land right in tho heart of Dunedin, having frontages of fifift to both High and Stafford streets, and within a few feet of Princes «nd Manse streets. The property has a right to use a valuable party wall erected on an adjoining section in Stafford street (Messrs Ross and Glendining’s warehouse). The Theatre is substantially built cf bluestone and brick at a cost of upwards of L 12.000. It is one of the most commodious and accessible in the colony, and with a comparatively small outlay could bemado second to none iu every respect. The Hotel is in a position to command a highly profitable business, and with tha_ increased facilities proposed in the new building, will bring in a large rental to the Company. The purchase price of the property has been arranged st L20.C00, on the following exceptionally easy terms of payment—viz,, L 2.000 in cash, L 5,006 in shares paid up to 10s each, and the balance to remain for a term of four years, renewable for an additional two years if desired by the Company, at 6 per cent, per annum interest, with the right to pay off sums of not less than LI,OOO on any quarterly dn.*e in giving three months’ notice in writing. It is proposed to issue the balance of tho shares as follows ; 2s 6d on application, 2s 6d on allotment, and two calls of 2s 6d per share at intervals of not less than three mouths, beyond which it is not anticipated that any call will be necessary. It should be unnecessary to point out that an opportunity seldom occurs to purchase a valuable city property by only paying 10 per cent, of tho purchase money, a property, too, which from the date of pumhase will bo earning a substantial interest to the Company. To make the property one of the best investments, it is proposed to expend the balance of the capital intended to be called up in altering and improving tho Tlv atro and approaches and rebuilding the Hotel, together with shops, offices, etc., on the High and Stafford streets frontages, and utilising the present extensive yard in various attractive and profitable ways, according to p’nns already prepared. The receipts from rentals, estimated on present returns and engagements already made, would amount to at least £2,550 per annum, while with the improved Theatre those will certainly be increased. The expenditure would ho: Interest on mortgage, rcidentals, etc, £1,120. leaving a balance of £1,430, equal to nearly 11J per cent, on tho capital proposed to be called up. The existing tenancies for the Theatre and other parts of tha property will yield to the Company more than 10 per cent, during the rebuilding of tho Hotel. Full details of these estimates can bo seen at the offices of tho Brokers. The Vendors have an offer for a Lease for 7 years of the whole property when the improvements are effected at a rental equivalent to more than 8 per cent, on the capital intended to be called up, after deducting interest on mortgage and a substantial sum for expenses of the Company. This offer will be at the disposal of the Company and substantially guaranteed. It is, therefore, manifest that this ia no mere speculative undertaking, but a sound investment yielding an assured return on the capital, and that with the inevitable rDo in the value of City properties the shareholders will be in the position of having an investment constantlyincreasing in value without the smallest possibility o a loss in capital. As showing by comparison what an excellent opportunity this affords for securing an interest in a central city property, attention is drawn to two comparatively recent sales. The quarteracre at the corner of Princes and Dowling streets, purchased by tho Australian Mutual Provident Society, cost L 25.000 ; the buildings thereon were nearly valueless, being sold for L 135. A similar area at the corner of Princes and Rattray streets, purchased by the Govern- | ment Life Insurance Department, cost, with the old buildings thereon, 135,500 ,* and it has been stated on their behalf that a considerable advance can now be obtained on that price. It may also be mentioned that a sum of LIO,OOO has been offered and declined within the last few weeks for one-eighth of an acre in Princes street, not far from the Theatre property. In allotting the shares priority of application will receive due consideration. ANDREW HAMILTON, Interim Secfotyry. Exchange Court, Dunedin, SQth July, 1199,

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https://paperspast.natlib.govt.nz/newspapers/ESD18890803.2.27.6

Bibliographic details

Page 3 Advertisements Column 6, Issue 7976, 3 August 1889

Word Count
1,300

Page 3 Advertisements Column 6 Issue 7976, 3 August 1889

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