Page 5 Advertisements Column 5

Evening Star, Issue 19319, 4 August 1926, Page 5

ABRIDGED PROSPECTUS OF Hie Auckland Amusement Park, Limited

(Registered under “The Companies Act, 1908.”) Capital - - £40,000. Of the 40,000 Shares of £1 each in the initial Capital of the Company, SOOO Shares shall be Preference Shares, and 32,000 shall be Ordinary Shares. The 8000 Preference Shares confer the right to a fixed cumulative Preference Dividend at the rate of ,£lO per cent per annum, and the right whenever the dividend declared for a year shall be more than the rate of 15 per cent, on the Ordinary Shares, to have distributed by way of an additional, but non-cumulative dividend a further £5 per centum on the Preference Shares for the year. The remaining 32,000 shares are Ordinary Shares. APPLICATION FOR SHARES. ORDINARY SHARES.—2/6 per Share on 'application; 2/6 per share on allotment; and the balance in Calls of not more than 2/6 per share at intervals of not less than one month. PREFERENCE SHARES.—2/6 per share on application; 17/6 per share on allotment. These shares carry interest at 10 per cent, from date of Allotment Call being paid. • PROVISIONAL DIRECTORS. ALEXANDER BURT - - - Company Manager, Auckland. JOHN ARTHUR HOLLOWAY - Solicitor, Auckland. J. R. FAIRBAIRN - - • Company Manager, Duncdiau If. HALLIDAY ... Company Manager, Dunedin., SAMUEL DUNN - - - Company Director, Dunedin. * SOLICITORS. Messrs ENDEAN & HOLLOWAY - Queen Street, Auckland. Messrs LANG & PATERSON - Moray Place, Dunedin. BANKERS. THE COMMERCIAL BANK OF AUSTRALIA, LIMITED. AUCKLAND. INTERIM SECRETARY. W. A. MITSON, A.P.A. (N.Z.), Public Accountant, Ola Princes Street, Dunedin. ORGANISING BROKERS. Messrs QUICK & SMITH, Stock Exchange, DUNEDIN. OBJECTS OF THE COMPANY. The Company is being formed for, inter alia, the following purposest To acquire from the Amusement Park Syndicate hereafter named (he devices in their dismantled form purchased by them from The New Zealand and South Seas Exhibition Company, Ltd., and situated at present at Logan Park, Dunedin; to erect these devices on the Reclaimed Land at Auckland; to operate the same and generally carry on the business of Amusement Park Proprietors, including the erection and running of a modern Cabaret with such other amusements as the Company may think fit. THE SITE. The site of the proposed Amusement Park is on the east side of Queen Street, fronting Quay Street,, and contains approximately two and threequarter acres. . . This site is especially suited for an Amusement Park, being in a most central position, and having a frontage to four streets, it is an ideal position for parking motor cars. PARTICULARS AS TO DEVICES TO BE OPERATED. It is proposed to erect a Scenic Railway around the whole block, which will be a considerably longer railway than the one operated at The Dunedin Exhibition, 1925-26. The five devices known as the Dodg’em, Whip, Caterpillar, Merry-Mix-Up, and Fun Factory, will be erected within the enclosure. It is intended to provide an up-to-date Cabaret, together with the various additional amusements incidental to an Amusement Park. It is also intended to keep the Park up-to-date by the introduction of new devices from time to time. _ . . • The following figures' showing’ erection costs, taking's, and expenses of the Exhibition Amusement Park demonstrate the wonderful possibilities of out-door amusements; — RECEIPTS DURING MONTHS ENDED MAY 1, 1926, AT DUHEDtIL Scenic Railway, ,£19,565; River Caves, £5,545; Dodg’em, £8,347; Fun Factory, £9,273; Whip, £5,917; Caterpillar, £4,773; -Merry Mix-Up, Total; £56,270, averaging over.£lo,ooo per month. To the above must be added the rentals received from the Cabaret, the various sideshows and booths, and other concessions in the Amusement Park, which amounted to over £12,000. The running expenses, including wage’s and electric power, were £11,470. . The initial cost of erection of the Exhibition amusement devices was £29,820 (excluding the Customs duly of 35 per cent., as the Exhibition was treated bv the Customs as a Bond). Thus tho gross receipts on rurmlns this Park for under six months wore nearly twice the Capital cost of erection. ESTIMATED REVENUE FROM DEVICES. The average takings at the Exhibition Amusement Park were over /;i0 000 per month, so that an even more up-to-date Park run at Auckland should show at least half of this average for eight months of the yca r £40.060 FIRST SEASON'S RUNNING COSTS (ESTIMATED). Wages and Salaries - ... £B,OOO Rent Rates and Insurance Electric Eight and Power 1,500 Advertising and Stationery ' 1,900 Directors’ Fees, Office Expenses, etc ... POO Repairs and Maintenance ... ... ••• 1,000 Incidentals 1,000 Balance, being estimated Profit from Devices ... 24,000 Add estimated rentals of Concessions and Sideshows 2,500 Add estimated Profit from Cabaret 1,500 TOTAL ESTIMATED PROFIT ' '£28,000 Reduce those figures again by half, and the surplus remaining is 35 per cent, on the nominal capital. PROSPECTS. All trams and ferries converge at the foot of Queen Street, providing easy access for pe.rsons from every part of the City and Suburbs. The climatic conditions make Auckland the ideal centre for an Amusement Park. It would provide, right in the centre of a large City, a delightful recreation for which no provision exists at present for Auckland's large permanent and floating population. it is proposed to run the Amusement Park on strict lines, and no sideshows or games offensive to the public taste will be permitted, A modern Amusement Park _is now becoming recognised as a recreational essential in all modern cities throughout the world. In America, on the Continent, and in Australia, they arc extremely popular, the success attained by the Luna Park, Melbourne, being" little short of phenomenal. Luna Park has run successfully for years with increasing popularity, and similar Parks are now being established in other loading Australian centres. Undoubtedly, a progressive City like Auckland, with its unlimited possibilities and large population, offers ample scope for an up-to-date Amusement Park. INTERESTING POINTS FOR INVESTORS. E The site is very central and affords easy access from tram or ferry. 2. The devices arc being acquired by the Company at a fraction of the cost of importing new equipment. _ 3. The Syndicate have such confidence in the future of the Company that they desire no cash, but are accepting the whole of the purchase consideration in fully paid up Ordinary Shares. _ . 4. The profits from the Amusement Park while run in Dunedin for the 51 Exhibition months were phenomenal, and the permanent population of Dunedin is only 85,103, whereas Auckland’s population is over 192,000. 5 In estimating the profits like.lv to be mafic, the results obtained in Dunedin were halved. it is probable that with the Park being in Auckland, the profits will he even greater. _ . . 6. It is hoped the Amusement Park wall be ready and in full swing tnt* >Car ‘ RESUETS OBTAINED SINCE EXHIBITION CLOSED. Investors will be interested to know that the devices were operated at Dunedin for six days in the middle of winter, and during that time 35,810 persons patronised the devices, the taking being £059 I»s 6d. This experiment was tried five weeks after the Exhibition closed, at a time when it might have been anticipated that Dunedin people were suffering from a surfeit of amusement. EUNA PARK COMPANY. LIMITED, OF MELBOURNE, According to-the official report of the Melbourne Stock Exchange, dated October 31, 1925, the net profit disclosed of the Luna Park Company, Limited, for the ycar ending May 31, 1925, was £16,045. Dividends at the rate of 35 per cent, on the Preference Shares and 20 per cent, on the Ordinary Shares were paid, £2,373 was transferred to general reserve, and £4,417 was earned forward The gross revenue for the year was £IO,OOO greater than the book value of the whole undertaking, which has again been written down by £6,162. Funds in hand exceed £23,ooo—more than half the nominal capital of the plant. These results were achieved after Luna Park had been running for 14 years. PROSPECTUSES AND APPLICATION FORMS FOR SHARES can bo obtained from the Organising Brokers, Messrs QUICK & SMITH-

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