Page 1 Advertisements Column 3

Hawera & Normanby Star, Volume VIII, Issue 1355, 10 July 1886, Page 1

"OROSPECTUS OF THE WAN1 GANTJI MEAT PRESERVING COMPANY (Limited) To be incorporated under the Joint Stock Co. Act, 1882. Capital, £15,000, in 1500 shares of £10 each, payable as follows : — Ten shillings per share on allotment, and the balance by calls of twenty shillings per share at intervals of not less than three months. It is not expected that more than £10,000 will be called up. Provisional Directors : David Peat, John Handley, John i McGregor, F. R. Jackson, W. j Bnmber, W. Parsons, Isaac Lupton, F. Richards, D. G Poison, Henry Cornfoot, Albert Barns, James Moore, C. Cameron, J. R Lysaght, J. L. Stevenson, G. Y. Lethbridge, W. Duirs. Bankers : Bank of New South "Wales. Solicitors : Messrs. Borlase and Barnicoat. Brokers : Albert Barns and F. R. Jackson & Co. In placing the Shares of this Company before the Graziers and Settlers of this District, the Provisional Directors desire to point out the strong claims it has upon the favourable consideration of all who have the welfare and advancement of the District at heart. The Company is formed for the purpose of purchasing and carrying on the Business known as that of Mitchell and Richards, Meat Preservers and Butchers, Wanganui, of which Mr. F Richards is now the sole proprietor. The Business is of such dimensions as to necessitate a larger amount of capital than Mr. Richards can devote to it. It is therefore desirable that its propriety an'i capital should be extended. Since it has been in existence the firm of Mitchell and Richards has been the means of affording a profitable outlet for a large amount of stock. The general rate of consumption has been about 300 head of cattle and 700 sheep per month. The present proprietor is so strongly impressed with the soundness and prospects of the Company that he is willing to retain £3000 in fully-paid-up Shares, and to render the Company fvery assistance in carrying it on. Even at the psesent low rates for preserved meats and tallow, the products of the W.M.P. Co.'s works leave a margin of profit, and there is no reason to doubt but that the Company will, from the first, be successful. The brand of the canned meats sent out from the Wanganui Factory is well and favourably known, both in the Home and Australian markets. In no part of New Zealand does there exist as favourable a field for the meat preserving trade as here, as the rich pastures and mild climate combine to render the fattening of stock the chief industry on this coast. To every resident in this district the Wanganui M.P. Co. is of vital importance, as its business is one in which all are interested, either directly or indirectly. The plant and premises which the Company will take over are quite capable of accommodating and turning out a very much larger quantity of tinned meats than has been reached. The plant is in good order (being mostly new), and is not likely to require any further outlay for some time. The business will be transferred by Mr. Richards to the Compauy for the sum of £6000. This iucludes the Extensive Buildings, Plant, Horses, &c, for carrying on the Retail Butchering, Business, as well as the Preserving Business, payment to be made as follows — £1500 in cash and £1500 within twelve months, the balance by paid-up shares in the Company. The cost to Mr. Richards for the erection of the works, &c, amounts to over £8000. The Provisional directors have carefully valued the plant and premises, &c, and after allowing for depreciation, consider the sum of £GOOO a fair and reasonable price for the property, as a going concern. The Provisional Directors, therefore, place the shares before the public with the fullest confidence that they cannot fail to call forth a prompt and ample response. The qualification for each director is 10 shares, and the first meeting of shareholders for the purpose of electing the Board of Directors will take place after a sufficient number of shares have been applied for to allow of the Company being duly registered under the Joint Stock Companies Act of 1882. The following figures show the actual returns of Meats &c, exported since the opening of the Works — Preserved Meats ... £22,292 Tallow 18,178 Hides 9000 Bones, Horns, <fee, ... 700 Salt Beef 2500 Bacons, Hams, &c, ... 500 Total £53,170 The " retail butchering business averages from £900 to £1000 per month. A schedule showing the different properties, plant, &c. (with the values), and any further particulars can be seen at the offices of the undersigned, who will receive applications for shares, and afford intending investors every information. F. R. JACKSON. ALBERT BARNS. MITCHELL & KICHARDS. i ' — — _ _ 1 T)AJ?ER BAGS can be printed neatly _L and at cheap rates, at the Stab Office. A large assortment of Jobbing Type.