Page 119 Advertisements Column 4

Hawke's Bay Times, Issue 1551, 17 February 1874, Page 119

PROSPECTUS NAPIER GAS COMPANY [limited.] In 1,500 Shares of £lO each. Deposit : Ten Shillings per Share on application ; Ten Shillings on allotment; and the balance in calls not exceeding £1 per Share, nor at lesser intervals than three months, as required by the Directors. It is anticipated that it will not be necassary to call up more than £6 per Share. Provisional Directors: F. Sutton, Esq , Chairman. H. S. Tiffen, Esq. J. G. Kinross, Esq, A. Kennedy, Esq. J. Close, Esq. H. Campbell, Esq. F. Tuxford, Esq. EL Eorl, Esq. H. R. Glegg. Esq. T. K. Newton, Esq. Bankers: The National Bank of New Zealand. Solicitor : J. N. Wilson, Esq. Interim Secretary: Alexander Kennedy, Esq. THE success which has attended the establishment of all the existing Gas Companies in New Zealand has induced the Provisional Directors to inaugurate a Local Company in Napier. The ligi.ting of the Town has on fair calculation been shown to be practicable, and promises a fair and legitimate return on the capital invested. It is proposed to call up £6 per share, which it is considered will be sufficient for the present time, and on this sum it is calculated that the profits of the concern will yield dividends at the rate of from 10 to 15 per cent. The balance of the capital will be called up as required, for such extension of the mains and works as the Directors may be satisfied will prove payable. It has been estimated that the preliminary expenses, with an ample margin for contingencies, will reach £9,000, the amount of capital to be called up. The probable supply of Gas required for that portion of Napier at present intended to be lighted has been calculated from systematic inquiry, to amount to 3,000,000 cubic feet per r.inum. ■ Receipts and Expenditure. receipts. 8,000,000 feet of gas, at 20s per thousand feet.... £3OOO Sales of coke, tar, &c 180 3180 Less 5 percent, discount 168 EXPENDITURE. Cost of Coal and working expenses ■■, 1633 Annual Profit £1389 The above summary of a report prepared by J. 11. George, Esq., a gentleman possessed of great experience and judgment in such matters, shows that even with the present demand, a yearly profit pi about 15 per cent, on the pa.td-.up cap tal may be safely anticipated, and there is no doubt that after Gas has been fairly introduced, the yearly increase in the consumption will be marked and rapid, with only a nominal addition to the expenses, exceptng the cost of the outlay for coal.