Page 2 Advertisements Column 2

Lyttelton Times, Volume XCVIII, Issue 11446, 8 December 1897, Page 2

DIRECTORIES C OI ® PAKT > LIMITED. (To be incorporated under “The Companies Act, 1882, and Amendments), CAPITAL ... £60,000, IN 60,000 SHAKES OP £1 EACH. Of which 150,000 Pef.ff.kf.ncf, Shares auk Upferhe for Sudscription and 30,000 Ordinary Suaxm'.s (Fully Paid-up) will be taken by the Vendors. The PREFERENCE SHARES rank before the Ordinary Shares, both as to capital and profits, carrying a fixed preference dividend of 5 per cent out of the profits each year, and sharing equally, addition, all over 5 per cent annually divisible on the above capital. The ORDINARY SHARES, which the Vendors alone hold, do not participate in profits in any year till 5 per cent is paid on the Preference Shares, and the Vendors undertake to hold these shares for at least five years. Terms of Subscription ; 2s Gd per Share on application, 2s Gd on allotment, and the balance, in calls of not more than 5s per share, to be made at intervals offbot less than one calendar month. It is not proposed, in the meantime, to call up more than 17s Gel per share. Mb GEORGE FENWICK Mb WILLIAM BAUBON In Australia In New Zealand Provisional Dibf.ctobs ; I MbBENDIXHALLENSTEIN I Mb HENRY WISE Managing Dibectobs : Mb GEORGE WISE ;;; ... ... mbw.akthur wise Bankers ; THE BANK OF NEW ZEALAND. ' ■■■"■. Solicitors : Messrs SMITH, CHAPMAN & SINCLAIR, Dunedin. Brokers ; Messrs BAER, LEARY & Co., Crawford Street, Dunedin, Mr JAMES HENDERSON, Hereford Street, Christchurch. DUNEDIN, CHRISTCHURCH, MELBOURNE, SYDNEY, ADELAIDE, BRISBANE, and PERTH. PROSPECTUS. The Company is promoted for the purpose of acquiring, on terms einbodied in Aqrecinent. and extendine and further ‘developing the long-established proprietary copyright publishing busmens of H. Wise and Co., the well-known Post Office and Official Director,? Proprietors and Publishers of New Zealand, Victoria, New South Wales, Queensland, Western Australia, South. Australia, and Tasmania, whose name and reputation are now so well-known throughout the Australasian co.omes, New Zealand has been chosen for the flotation and establishment of the Company because the original business was founded, and the first Directory published, here, and the parent office and home of the f ° Un Aproportion will he reserved for allotment to subscribers in each of the chief towns m H, Wise & Co, has been in existence fob over a third op a century, and has so exTENDED ITS PUBLISHING OPERATIONS THAT IT NOW EMBRACES BUSINESS OVER THE WHOLE OP AUSTRALIA, Tasmania and New Zealand, and also in Great Britain. With such success has it been carried on that it has attained an unrivalled position in publishing, and has nude and valuable rnteminable copyrights for its publications, which cannot be infringed m any par. of the British Empire, all rights havin'* been secured bv registration at Stationers' Hall, London. lo secure the end thus attained largo sums of money and a vast amount of labour have been expended annually lor many years. The present firm (who are the vendors) part with their exclusive interest, as proposed, solely on account of their business having attained such very extensive dimensions, with prospects of considerable further growth, that it is more fitting for management by a Limited Company than by a private firm, especially in view of a further inteuded very profitable development of the business. They will, however hold in the Company one halt the shares, and undertake not to part with, them for at least five years, nor to he connected with any other business of the same nature, so certain are they from their expert knowledge of the further successes awaiting the.business as a Limited Company. , Mr Henry Wise, founder of the firm, is willing to act as a Director of the Company. The services of Mr George Wise in Australia, and Mr Arthur Wise in New Zealand, who are trained experts m the toSness have also been secured as Managing Directors. They are so assured, however, of the great future before the Company that they agree to act for merely nominal salaries, to he determined by the Board so long’as the Company pays on its Ordinary Shares less than 6 per cent, dividend, ‘The special features of the Compmiy are that it will start with assured profits at once, that there are no to maintain, and that it takes over responsibility for no liabilities whatever except the cost of printing the works now in progress. All transactions ot the Company are pr.ictici.lly m caVand the profits are not absorbed in an increase ot stock or plant. The entire profits, which are eer ain and regular— the business being practically without any nsk-are liquid and immediately free for division in dividends without deduction. The Looks of the Vendors have been examined by Messrs Barr. Leary and Go. (of the Institute of Accountants ot New Zealand) and the following certificate speaks for itself^ Messrs H. Wise & Co., Dunedin. Dunedin> l st h November, 1897. D As fnstrueted, we have examined the bonks recording the transactions of your Directories business, and find that the profits as shown therein for the year: ended 31st December, 1890, would yield a fraction under 7 per cent on a capital of £6o,ooo—the gxiicC fisurGfi} heiug 6*997 per cent, « We have also gone back over six years in order to .include the disastrous year of hank failures in Australia iu 1893, and to cover any other fluctuations, and find That when the profits extending over that period are averaged the results are as tollowsVlZ 'Pnr six years ended December, 189G—4’46 per cent on a capital of £OO,OOO five „ .. » 4-81 >• ’> » >• :: four :: .. .. ■■ „ three „ » .. ” one ” ” ” 6'99 We have not made an exhaustive audit, but have satisfied ourselves that the profits shown are practically correct. In these figures no allowance is made for.ths services ot the partners nor interest on capital. Yours faithfully, Barr, Leary & Co., Public Accountants. From the above Certificate it will be seen that over the lengthened period of six years, and including tfte years of depression in Australia, there has been a gradual and steady increase m the average profits earned until as shown, the profit for the year ended 31st December, iS9d, was practically 7 percent ° N Tli P “ss done T dui°ng thc“t Y Vear amply justifies the belief that the increase in profits will Bll ° An agreement", dTtedthe 19th day of November. 1897, has been entered into between the VcndorsMcssrs Henry Wise, George Wise and William Arthur Wise—and Mr Peter Barr, of Ban, Leary and Co as Trustee on behalf of the Company, for the disposal of the business of the turn to the Company, when registered. Under that agreement the purchase price for the whole of the business as enumerated Creafterincluding all copyrights, orders in hand for works in progress, manuscripts of works m progress 1 ’ tenancies aiid office furniture, has been fixed at £55,000-payab a £30,000 in fully paid-up Ordinary Shares, which, as stated, rank both as to capital and profits after the Preference Shares now offered for subscription.and £25.000 in cash, ot which £SOOO is to remain as a loan to the Company for flve Years amaximum rate of 5 per cent interest, hut free of interest so long as the profits of the Company do not result in the declaration and payment of a dividend ot o per cent or moieto the preference sharelio tj ie business it is estimated that there will be in the bauds of the firm cash orders amounting to about £II,OOO, which, after deducting the cost of printing and collection will leave about £BOOO or £9OOO available for working capital in addition to the £oooo provided out of the Pref%ence Shares? The Company will benefit to such an extent from the business already secured that the dividend for Mie first year is already practically earned, . . The hwvv preliminary expenses which the old firm had of necessity to incur for many years are not now required, and the Company will reap the benefit of reduced expenditure and most economical working through the publications being thoroughly established and as the result of years of eXP Thefinable copyright properties and businesses connected therewith to be taken over by the Company Zealand p os t Office Directory. Offices : Princes Street, Dunedin, and Cathedral Square, Christchurch. The Victoria Post Office Directory. Offices : 49, Elizabeth Street, Melbourne. The New South Wales Post Office Directory. Offices : 108, Pitt Street, Sydney. The Queensland Official Directory. Offices : 53a, Queen Street, Brisbane. Th e Western Australia Post Office Directory. Offices: Hay Street, Perth. The South Australia Post Office Directory. Offices : King William Street, Adelaide, The Tasmania Post Office Directory. Offices: 49, Elizabeth Street, Melbourne. The Canterbury Directory (Wise’s), New Zealand. The Nelson, Marlborough and West Coast Directory (Wise’s), New Zealand. These businesses and offices are all in perfect going order, and no break or interruption will occur in the transfer to the Company of the continuity of that success which has brought the firm ot H. WISE & CO. to its present position. The proposed extensions of the business, in addition to the natural increase in the revenue from the present publications, justify the expectation that there will be 11 Bt 'The fact that a «ie present firm large proportion of the shares in the Company, and thesfranking ttb as trcapS and profits only after the preference shares are sat sfied, is ample rirnnf of their faith in the proposals, and the Managing Directors, besides being thoroughly expert and experienced the business, holding sueh a large interest u the welfare of the Company, are sufficient gUa TTe te bu^e\ h s%viU C be ß over's a going concern as from, say, Ist January, 1898, up to which date the Vendors will discharge all liabilities. The Company will, as from that date, he entitled to the the Vendors to receive thereout interest on £20,000 of the cash purchase money from that date until the completion of the purchase at the rate of £5 per cent per annum. UD The Vendors have satisfied the Provisional Directors that they recently received a very luge cash offer to sen the business outright, but declined it unhesitatingly, as they were determined to retain a large* interest—especially on behalf of the younger members ot the firm-in its future growth and deV The“xpenses of flotation and incorporation,to he borne by the Company, have been limited by the before-mentioned agreement. Dated 20th November, 1897. APPLICATIONS POE THE SHARES WILL BE RECEIVED AT ANY BRANCH OF THE BANK OF NEW ZEALAND (THE COMPANY’S BANKERS), As well as at the Offices of the Brokers, together with a Remittance for amount of deposit in terms of Prospectus. 6380 HOLIDAY ATTRACTIONS. SPECIAL SHOW. SPECIAL PRICES. CASH TRADERS, DRESSES. W. M’CLEA & CO., HIGH STREET. DIRECT IMPORTERS. DRESSES. FANCY TWEED, 5s lid full dress FANCY SHOT LUSTRES, 7s 6d, 11s 6d full dress SHOT SUITING SERGES, Us Gd full dress DRESSMAKING, Pit and Style Guaranteed, no sundries, 10s Sd NEW PRINTS, new stripes, fM and 7Jd BLOUSE CAMBRICS, 7id an d 1M WASHING GALATEAS, Old and' 10)d WASHING DRILLS, 9id NEW ART' MUSLINS, 4»d, and 6sd NEW CRETONNES, 4-;d, 5-Jd, Bid and 7Jd LACE CURTAINS, 2s lid, 3s 3d. 3s lid, 4s 63 and 6s 6d Latest Novelties in VEILINGS and GLOVES at Cash Prices r ,~ 31 Doz. Ladies’ CAMBRIC HANDKEECHIEHS, Is lid per dozen , Baskets Coloured RIBBONS, pure silk, 2|d per yd Ladies’ Past Dye Black Cotton HOSE, 9d Ladies* All-wool Cashmere HOSE, Fancy Ribs, is, Is Gd, Is lid ’ , UMBEEL LAS, 2s lid, 3s lid, 4s lid, 5s lid White MUSLIN APRONS, new Shapes, XOid, Is, Is 3d. IsGd, ls9d. Is Ud. 2s Gd COOKING APRONS, Hid, Is 3d, Is Ud KID GLOVES, Is Ud, 2s Gd, 3s Ud, 4s Gd Special Offer in SUNSHADES, 18 only, worth 10s Gd, offered at 5s 6d W. M’CLEA. AND CO., READY CASH DRAPERS AND CLOTHtMES, HIGH STREET. CORNER HIGH AND TUAM STREETS, CHRISTCHURCH. F LADIES' 2-STRAP. Black'or"Tan Leather, Real Good, 4s 9d. <s«s 3 B o »v CORNER HIGH AND TUAM STREET, CHRISTCHURCH. “Vit LADIES’, 2s PAIR. GENTS’ BLACK or TAN, From 7s 6d. LADIES’, la Ewr. ■S7 V vf e» o o *a l eh ola ****** ® t o, n y© C Pot Cleaning' Paintwork, Carpets, Linolenm, Serges, Cashmeres, and all Woollen and Silk Coeds. A Kress or Suit Cleaned for «“ 3d. Sold in Tin., - «as „ . _ 1/-& 1/6, by all Grocers, °*let j f " Ironmongers, and Stores throughout N.Z. C Messrs CHRYSTALL & Co., Sola Agents, Canterburj District.