Page 5 Advertisements Column 5

Hawera Star, Volume XLVIII, 1 November 1924, Page 5

8 PEE CENT. FREE OF INCOME / TAX. ATTRACTIVE FINANCIAL PROPOSITION. In order to provide funds for the completion of their flume for the water transport of coal at their mine, the Westport-Stoekton Coal Co., Ltd., offer an issue of £15,000 worth of Second Mortgage Debentures, bearing: interest at the rate of 8 per cent, per .annum, payable half-yearly, free of income tax, being part of a total issue of £20,000, all ranking pari passu in point of charge on the undertaking of the Company, but subject to an issue of'£so,ooo of first mortgage debentures. The Debentures are available in amounts of £SO, £IOO and £250 each, or. in smaller denominations as may be desired. The terms of payment are easy, being 25 per cent, with application, and the balance, in three instalments of 25 per cent, each at intervals of three months. The security offered comprises all the property and assets of the WestportStoekton Coal Co., Ltd., present and future, save and except its stock of coal and other debts and its uncalled capital, but subject to a previous issue of First Mortgage Debentures of which £49,650 have been issued to date. The Second Debentures now offered will rank next after the First Debentures, as a charge on'the above mentioned security. The authorised capital of the Company is £200,000, of which £197,785 10s is issued and fully paid. It is estimated that the completion of the water flume will save the Company £IO.OOO per year and place it on a payable basis. It has been proved beyond all manner of doubt that there -is coal in very large <|uantities in the Westport-Stoekton field, and there has for some time been a continuous and very satisfactory development. The high quality of Stockton coal is, of course, well known. As a safe and desirable investment ensuring a very satisfactory monetary return, the above Debentures should be eagerly subscribed for. Applications for Debentures or for any information should be addressed to the Secretary of the Company, Mr G. G. Townsend, F.1.A.N.Z., Accountant, 183 Cashel Street, Christchurch. Application forms are obtainable from any branch of the Bank of New South Wales.—Advt.