Page 3 Advertisements Column 2

Evening Star, Issue 17697, 25 June 1921, Page 3

1? 2 0 ISSUE OF £250,000 DEBENTUR FREE OF INCOME TAX Turnover now times greater thae 9 years ago. In Sums m —BY— V &. i k JL Js iSS& Years Surplus assets cover this issue more than 3 times over. I —Hi ii"" i%K P w iwW t\L£&Jr V V WAREHOUSEMEN AND WOOLLEN MANUFACTURERS fc a U it hi Authorised Oaplfal Share Oaplfal (Paid-up) and Special Reserve - Directors; D. R. CALDWELL, Chairman of Directors T. H. MACKY, Managing Director. JOHN MACKY, Controlling Manf. Sec. C. A. BROWN, Controlling Auckland Warehouse. REASONS FOR THIS ISSUE. Baservad Funds C, H. YOUNG, Controlling Wellington Warehouse. J. S. BUNDLE, London Director. Bankers: BANK OF NEW ZEALAND. Solicitors: PARR, BLOMEIELD, & ALEX- ■ ANDER, Auckland. SS©o,©oo © O £541,522 13 2 £302,25© ® 1© Auditor; ALEXANDER GRIERSON, C.A. (Eng. and Wales), E.P.A. (N.Z.). Auckland. Secretary; W. 11. GOLDIE., (1) Many British firms of high financial repute have required to increase their capital during the last year, owing to greater expansion, higher wages, and increased cost of materials. These reasons apply with even more force to this Company, whoso legitimate expansion during the last nine years has been phenomenal. During this period ths turnover of this business Increased by 369 par Gent.) and the capital, excluding the Special Reserves, by 208 per cent. All accumulated profits during this period have remained in the business, and have been capitalised from time to time. ENSURING CONTINUOUS SUPPLIES. (2) During the war it became absolutely necessary to secure woollen' materials in the piece for the carrying on of our large textile factories. The Company were fortunate in securing the Oamarn and Timaru Woollen Mills, also the Manawatu Hosiery Factory, all of which have proved most successful ventures, and which at the present time are working at their utmost capacity. To meet the increasing demand for the product of these mills, a portion of the money subscribed for these debentures may bo necessary. (REPLACING DEPOSIT MONEY. (3) Commercial concerns of good financial standing have from time to time accepted moneys on deposit. The necessity for the Deposit Moratorium Act, showed the danger of using such moneys for trading purposes, even by the strongest institutions. NO DEPOSIT MONEYS PANY IN THE FUTURE. WILL BE ACCEPTED BY THE COMSECURITY OF DEBENTURE HOLDERS. The Debentures secure the Investor ahead of all Preference and Ordinary Shareholders in the Company. They return a high rate of Interest, Free of Income Tax, and for a definite period. PARTICULARS OF DEBENTURES. The Debentures are repayable on the 31st day of July, 1920. Interest payable is free of Debenture Tax up to 3/- iu the £, which is paid by'the Company. Interest is payable half-yearly on the first day of August and the first day of February, in each year. , . INTEREST COMMENCES IMMEDIATELY. ’ N For the first payment interest will be calculated from the.-date,, or respective dates, when the purchase money is received. The rate of interest is 7|- per cent, per annum. . It is more than probable that money will become cheaper during the next year or two, and because these Debentures are for a fixed period of five years, this 74 per cent, rate, Free of Income Tax, should prove a splendid. investment for the whole period. ■ Both the Debentures and Interest Coupons attached to same will be payable to bearer at any Branch of the Bank of New Zealand (within N.Z.). If desired, interest can be made payable at any of the Brandi Warehouses, of the Company, Free of Exchange. . Interest will be paid and principal refunded at due dates, Tree of Exchange. , _ Debentures may be inscribed at the Registered Office of’ the Company if desired. SURpLUS 0F AS SETS AG SECURITY, The Debenture Holder, whilst he has no specific or floating charge on the assets of the Company, has nevertheless the present surplus of assets over liabilities as a genuine security. If it is necessary, owing to lower replacement values, to further depreciate our slocks, even to the extent of £200,000, there would still remain a surplus CV £643,782, which as a security covers, more than twice over, the amount of tins Debenture issue. These figures can be verified by the accompanying statement of Mr ALEXANDER GRIERSON, Chartered Accountant (Eng, and Wales). Public Accountant (N.Z.). Applications -for these Debentures, which can be made on the accompanying form, will he received, tree of Exchange, at any Branch of the Bank of New Zealand; or at the Registered Office of the Company, Elliott street, Auckland; or at any of onr Branch Warehouses, in Wellington, Dunedin, Christchurch, Invercargill, New Plymouth, Wanganui, Napier, and Gisborne; or may be posted direct to MACKY, LOGAN, CALDWELL, LTD., Box 1434, AUCKLAND. A copy of the Prospectus, dated at Auckland the 15th day of June, ID2I, has been duly filed with the Registrar of Companies. BY ORDER OF THE DIRECTORS, D. R. CALDWELL T, H. MACKY JOHN MACKY C. A. BROWN C. 11. YOUNG W. R. GOUDIE, Secretary, SECURITY Already over £30,000 has been privately subscribed for these Tax-Free Debentures. AUDITOR'S STATEMENT. At the 31st January, 1921, the Capital and Ordinary Reserve Funds amounted to a sum of £541,522 13s 2d, and the Special Reserve Funds for unusual emergencies amounted to a further sum of £302,259 6s lOd. The total amount of this Special Reserve Fund is considered more than sufficient to meet all extraordinary demands that may be made upon the i esouroes of the Company. The Assets show u large surplus over the combined amount of Capital and Liabilities of the Company, and consequently the security of the Debenture Holders will not he endangered until the sum of £843,782 is absolutely lost, a contingency that is practically beyond the bounds of any such possibility. Share Capital (paid up) and Reserve Funds ... £541,522 13 2 Special Reserves ... ... ... ... £302,259 GlO A Total CERTIFICATE. the and AUDITOR I have been Auditor to the statements herein made u:j accounts of the Company, (Signed 1 ALEXANDER GRIERSON, Chartered Accountant (Eng. and Wales). Public Accountant (N.Z 0 0 Company since its inception, and certify that i correct, and iu accordance with the books lasfihifioa whose standing offers the safest aad soundest security. Any sum in denominations of £SO can be invested. The return for the live years during which the Debentures are current amounts to £37 10s per cent., Free of Tax. ■ APPLICATIONS FOR DEBENTURES should ho made on the accompanying form, and posted immediately. FORSVI OF PAYMENT. 25 per cent, Of the Purchase Price is payable on application, 25 per cent, in Puree months, and Pie balance within six months, or payable in one sum on application. Interest will be calculated from the date or dates when purchase money is received. Future Prospects. Tho business of Jlacky, Logan, Caldwell, Ltd., has now been established for 40 years, and during that period its growth has been phenomenal. To-day its factories and warehouses arc to be found in every important centre of the Dominion, and its trade in drapery goods and textile furnishings is such that the business has become one of the principal industrial institutions in tho country. Its old-estab-lished connections throughout New Zealand, and its capacity to manufacture its' own material, enable it to meet any competition, whilst its remarkable growth testifies to the able management of the Company, and affords a splendid augury for its future prosperity. APPLICATIONS FOR DEBENTURES. TO THE DIRECTORS. MACKY, LOGAN, CALDWELL. LIMITED, R.O. BOX 1434, AUCKLAND. I/We hereby apply for Debentures of £SO each, having a currency of Five years, in terms of the Prospectus dated loth June, 1921. I/We enclose cheque for £ in full/pari settlement. I/Wo agree to pay £ iu throe months, and the balance within six months. (Interest calculated from date of payment.) Full Name Occupation Address ... Usual Signature MACKY. LOGAN. CALDWELL. M Head Office: ELLIOTT ST.- AUCKLAND BRANCHES AT WELLINGTON, GISBORNE, WANGANUI. NAPIER, CHRISTCHURCH, HEW PLYMOUTH, DUNEDIN, ¥/oollen Mills at Oamaru, Timary, Palmerston North. INVERCARGILL,