Page 5 Advertisements Column 1

Evening Star, Issue 14523, 26 November 1910, Page 5

ABRIDGED PROSPECTUS OF THE PAPUAN PRODUCTS (TO BE INCORPORATED UNDER "THE COMPANIES ACT, 1908,” AND ITS AMENDMENTS). For the Cultivation of Rubber, Cocoanuts, and other Tropical Products. (Papaa is the British portion of the Territory of New Guinea, and its administration Is under the control of the Commonwealth of Australia). A AniTAI JD7K Divided into 750,000 Ordinary Shares of OArl lAL ™ SW S CJjUUU Two Shillings each. Of which there shall be issued to the Vendors 40.0C0 Shares fully paid up as part consideration for the transfer of their interests, os set out in an agreement between Messrs Walter Hill and Maclcod Clement Orliell, acting as Trustees for the Vendors, and Mr Charles Horace Gilby, acting os Trustee on behalf of the projwscd Company, dated the 29th d:\y of October, 1910. The balance of consideration will he the payment in cash of £2,000. 600,000 Shares aro now issued to tho public at par upon tho following terms —3d per Sliaro payable on application, 3d per Sliaro payable on allotment, and, if required, the balance in calls of 3d per Share at intervals of not less than three months. (It is anticipated that tho calls will be spread over a period of four years.) Tho balance of 210,000 Shares is held in reserve for future issue. The Vendors have paid all charges in connection with selection, application, and survey fees. Tho Vendors agree not to transfer the fully paid-up Shares above refened to within 12 months of tho incorporation of tho Company. The Vendors hive agreed to subscribe for Twelve Thousand (12,000) Contributing Shares in tlio Company. PROVISIONAL DIRECTORS; (Who retire at the Statutory Meeting of the Company, but may be reappointed.) GEORGE THOMAS BOOTH, Esq., Manufacturer, Sydenham THOMAS CHAPMAN, Esq., Sheep-farmer, Rotherham BICHARD EVANS, Esq., Farmer, Kaiapoi WALTER HILL, Esq., Merchant, Christchurch BENJAMIN MICHAEL MOORHOUSE, Esq., Medical Practitioner, Christchurch MACLEOD CLEMENT ORB EEL, Esq., Gentleman, Christchurch WILLIAM THOMAS ROBINSON, Esq., Land Agent, Christchurch. SOLICITOR: REGINALD VINCENT, Esq., Cathedral square, Christchurch. BANKERS: B.ANK OF NEW SOUTH WALES, Hereford street, Christchurch, and its branches throughout New Zealand, the Commonwealth of Australia, and at Samara' ami Port Moresby, Papua (British Ncsv Guinea). BROKERS: THOMAS COMPTON, Hereford Chambers, 144 Hereford street, Christchurch (Member of Stock Exchange of Canterbury) HARMAN REEVES, Vogel street, Dunedin (Member Dunedin Stock Exchange). COMPANY’S REGISTERED OFFICE: ROYAL EXCHANGE BUILDINGS, Cathedra! square, Christchurch. SECRETARY (pro tem.): O’. 11. GILBY, 8.0. Box 56, Christchurch. The Company is being formed for the purpose of carrying on the business of 1 lanters af Rubber and Cocoanuts and any other Tropical Produce, and in general to carry out the objects as set forth in the Memorandum of Association, and in particular to adopt an agreement dated the 29th day of October, 1910, between Walter Hill ami M. C. Orbell, Trustees for the Vendors, and Charles Horace Gilby, accountant, ot Christchurch, acting as Trustee on behalf of this Company, whereby the Company became possessed of the following property, and all rights and concessions in connection therewith, namely— An agreement to lease from the Papuan Government for 99 years an area of 2,000 acres in the Elai Valley, adjacent to Port Glasgow, on the Southern Coast ot tho Eastern Division of the Territory of Papua, on which it is proposed to establish a Rubber Plantation. The hereinbefore-mentioned Agreement is subject to the requirements Government of the Territory of Papua and the laws in force in that Territory applicable to the said lease, and the covenants and conditions contained in the said lease, and subject to such Government consents (if any) on the transfer of the said lease, and provides (inter alia) that the said Company shall accept the Vendor’s title to the said lease, and perform all the improvement conditions attached to the said lease, which conditions are exceedingly easy of fulfilment, as will be seen on reference to the full Prospectus. The lar"e profits being made by Rubber Companies everywhere, and the bright prospects before the rubber-growing industry, together with the favorable terms upon which land could be obtained in Papua, and the reports of this country’s suitability for all kinds of tropical agriculture, more especially for Rubber-growing, induced the Vendors to acquire this property, which has been described as IHE DkSX LAND IN IHh EASTERN DIVISION?’ ‘ As will be seen in the reports set out in detail nr the full Prospectus, the Company will be in the fortunate position of having land upon which almost any tropical produce can be grown. RAINFALL AND TEMPERATURE. Government statistics obtained at various points in the Eastern Division of Papua compared with the authorities show the Territory to be an ideal country for. Rubber'rowin" the rainfall and temperature being almost identical with that which those iiithoritles state to be the best for the successful cultivation of this product, and when, added to this, the rich nature of the soil is considered, quick-growing trees and early returns may be confidently expected. EXTRACTS FROM EXPERTS’ REPORTS. The Property is situated in the Elai Valley, near Port Glasgow, in a direct line between Port Moresby and Samarai, the two trading centres of the Territory. All vessels liadiii" between these ports must pass close to the anchorage at Port Glasgow, which is descriM as “a perfectly land-locked harbor, with safe entrance and good depth of water, where vessels can load or unload in any weather. ’ I The Hon. Stamford/ Smith, Administrator of the Territory, in his handbook on | Papua, page 10, says: I “ONE FACTOR GREATLY IN FAVOR OP AGRICULTURAL ENTERPRISE IN • PAPUA ARISES FROM THE FACT THAT IT JS OUTSIDE THE RANGE OF HURi RIOANBS that occasionally ravage the southern part of the Western Pacific and North 1 Queensland. THE PLANTER, THEREFORE RUNS NO RISK OF HAVING THE FRUIT’S OF HIS LABORS AND HIS OUTLAY OF CAPITAL LOST BY SUCH VISITATIONS.” It is estimated that it will fake four years to clear and plant 2,000 acres, at a total cost, with interest compounded at 5 per cent., of £25 per acre, including Company and office expenses,- seeds, superintendent’s house, tools and toolhouses, etc., and that tapping may be commenced five years after planting, or within one year after the whole area has boon cleared and planted with Para rubber trees, which experience has demonstrated to bo the most suitable tree. CATCH AND OTHER CROPS. In order to make the laud immediately productive while the Para rubber trees are maturing, Catch or Inter Crops may be profitably grown. Tho property is reported io be well suited for the growth of many valuable tropical products, the cultivation of any of which will give handsome returns as follows: Sugar cane from £l7 to £2O per aero Bananas from £22 to £3O per aero Tobacco from £ls to £2O per acre Peanuts from £8 to £lO per aero Arrowroot from £l2 to £ls per aero Maize from £7 (o £8 per acre Lemon-grass from £9 to £ll per acre. All of those products give returns the first year of planting, and it may be confidently anticipated that a very large reduction in tho capital cost of the plantation will be effected by some of these products being grown as catch crops between the rubber trees. Tho number of Shares fixed by tho Articles of Association as the qualification of ii Director is 1.000 Shares, of the value of One Hundred Pounds. The remuneration of the Directors is to bo fixed at the Statutory Meeting and at the subsequent Annual General Meetings. The minimum subscription is fixed at 125,000 Shares. Should this number not be applied for within 90 days of the issue of the prospectus the whole of the application money will be returned. The commission payable to brokers shall not exceed 5 per cent, of the subscribed capital of the Company. Tho preliminary expenses are estimated at Five Hundred Pounds. Applications for Shares should bo made on the form accompanying the Company's full Prospectus, with a remittance for the deposit of threepence per- share. No application for fewer than ten shares will be entertained. Prospectuses may bo obtained from the Company’s offices, or from its Brokers or agents throughout the Dominion.

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