Page 2 Advertisements Column 4

New Zealand Herald, Volume XXXVI, Issue 11149, 23 August 1899, Page 2

Public Companies ' ■ y Subscription Lists open on Saturday, 19th August, and close simultaneously in all the Colonies on Monday 28th August. . ' Si DIINLOP PNEUMATIC TYRE GOHPANY OF AUSTRALASIA, LIMITED® (To be 'ncorporated in Victoria under the Companies Acts.) t'E CAPITAL - - - £170,000. ? DIVIDED INTO _ 1 EiE : (a) 80,000 7 per cent. Fixed Cumulative Preference Shares of £1 each, fully paid. I Now offered to the Public. (n) 20,000 7£ per cent. Deferred Non-cumulative Preference Shares of £1 eaeli, fully r paid J R eserve d for the Vendor in part pa-ymenl " (c) 70,000 Ordinary Shares of £1 each, fully paid, the dividend on which is not tq exceed of purchase a,E----9 per cent, in any year. wv Issufe of 30,000 7 per cent. Cumulative Preference Shares of £1 each. %' TO BE FULLY PAID UP. . 't; THESE SHAKES will be PREFERENTIAL AS TO CAPITAL. They will also be entitled to a fixed Ciu ' mulative Preferential Dividend of 7 per cent, per annum, payable half-yearly, and will be entitled to participate pro rata with the Deferred Stock in all dividends declared in any year after payment'' of a dividend of 9 per cent, on the Ordinary Stock. These Shares will be specially protected by the'? Articles of the Company, which will provide, as a fundamental article, that no Debenture or Mort- ' gage on the assets of the Company shall at any time be given without the previous consent of at '-' least two-thirds of the Preferential Shareholders for the time being of such shares present person, ally or by proxy at a Meeting to be specially convened for the purpose. ;;;|k PROVISION will also be made in the Company's Articles for the creation of a Reserve Fund of £40,000 for the further benefit of these Shares; and one-fourth of the net profits in each year, after payment- fI of the dividends on the Fixed Preferential and Deferred Preferential Shares, will be placed to the",, credit of this Fund. } The Dividend on these Shares will be paid Free of Exchange at the Bank of Australasia at Melbourne Sydney, Adelaide, Brisbane, Perth; and Christckuvch and Auckland, New Zealand. ' SUBSCRIPTION for the above 80,000 Shares of £ 1 each is now inviited, payable as followsV: 2s 6d per Share on Application. ;: ■%'. Balance on Allotment. if Note.—Upon payment of the 20s (twenty shillings) per Share as above mentioned, no farther liability whatever will attach fall these Shares, and an Official' Certificate to that effect will then be issued by the Company. ,0 THE WHOLE OF THIS ISSUE OF 80,000 SHARES HAS BEEN UNDERWRITTEN. . «§} DIRECTORS: "ifE Tile following Gentlemen have agreed to join the Directorate:— . if; Tho HON. NICHOLAS FITZGERALD, M.L.C., Melbourne (Chairman of the National Trustees, Executors, and Agency Co. of Austral. Asia, Limited). , T , uji '-'.v. JOHN GttlCE, Esq., Melbourne (Director of the National Bank of Australasia, Limited . VALENTINE J. SADDLEE, Esq., Melbourne (Messrs. Baxter, and Saddler, Contractors). -.if . MAJOR P. G. HUGHES, 395, Collins-street, Melbourne. Z Sydney (General Manager for Australia of the Mutual Life Insurance Company of New York). ! S ' It Is proposed that the Articles of Association of the Company shall provide that the qualification of each Director shall be 300 /' the Fixed Cumulative Preference Shares and each of the abovenamed gentlemen has agreed to take up such Qualification Share. ; ! BANKERS: THE BANK OP AUSTRALASIA. " SOLICITORS: MESSRS. MOULE, HAMILTON, AND KIDDLE, Market-street, Melbourne. BROKERS'. MESSRS. J. B. WERE AND SON, 412, Collins-street, Melbourne ... ... ] victoria. # MESSRS. TO. NOALL AND SON, City Bank Chambers, Collins-street, Melbourne ' y.\ MESSES. RANDLE AND WILLIS, of Martin Place, Sydney ... I New South Wales -»l MESSRS. MULLENS AND COMPANY, of Eldon Chambers, 92, Pitt-street, Sydney J 10 t , " (f( f . "M! MESSRS. HEDLEY L. TODD AND J. K. SAMUEL, Grenfell-street, Adelaide South Australia. ~..r.. MESSRS. CORItIE AND COMPANY. Brisbane Queensland. _ > I JAS. HENDERSON, Sharobrqker, Christchurch and Wellington 1 .-■& JOHN LOGAN, Sharebroker, Dunedln I New Zealand. -.?% Q. A. BUTTLE, Sharebrolter, Auckland. ' .*,< D. T. BROWNLTE. Hobart ... I Tasmania. ' A. AND W. FOWLER, Launceston PROSPECTUS. 1 This Company is being formed to acquire, as a going concern, and carry on, tho well-known Business in Australasia of THE-vv DUNLOP PNEUMATIC TYRE COMPANY (AUSTRALASIA), LIMITED, togetherwith its Goodwill, including Trade Marks;! and Trade Name), Patent Rights, Leases, Plant, and Furniture, in Australasia; and an Agreement lias been entered into securing to this Company'the exclusive rights throughout Australasia for all inventions and Patent Rights relating to Pneumatic Tyres that may hereafter belong to the DUNLOP PNEUMATIC TYRE COMPANY (Ltd.), of England, at cost price, and special facilities 4.1 are also" given to this Company in regard to tho purchase of raw material for the manufacture of Tyres. The English Dnnlop£ Comnanv has agreed not to compete with this Company in Australasia, thereby securing to this Company the exclusive sales'.off}; tho celebrated DUNLOP CYCLE TYRES, and also of the DUNLOP CARRIAGE TYKES. *»• • ' ;&f) The Australasian business was formed by the world-famed DUNLOP PNEUMATIC TYRE COMPANY, of England, in thiiv year 1893. The net profits for the Australasian business for the last year have been greater than for any previous year, §•; and amounted to £14,707 19s lid, and the sales of Tyres in Australasia for the same year numbered 55,569. '' Tho Head Office and Manufactory of the Australasian Company is situate in Melbourne, and the Company has Branch Depots (where a full supply of Stock is kept) at Sydney, Adelaide, Brisbane, Perth, and Christchurch (New Zealand). 'Erfe The business of The Dunlop Pneumatic tyre Company (Australasia), Limited, will be taken over by this Company as »'h going concern from the Ist day of August, 1899, and the Company will have the benefit of all profits from that date. The book debts of the Old Company on the Ist of August, 1899, will bel'oflg to the Vendors, who will discharge all liabilities then out-' standing. The accounts of the Australasian business have been submitted to the well-known Accountant, THOMAS BRENTNALL, Esq., F.1.A.V., who has given the following Certificate with respect to the sales and profits for the last two years, and also as'to the sales for the present year up to the Ist July, and it will be noticed therefrom that the business is worked practically on a cash basis • — frffe

424 Clwncerv Lane, Melbourne, 20th July, 1899. Messrs. Monle, Hamilton, and Kiddle, Solicitors, Melbourne. Gentlemen,-As re ciueste'd I have'examined the Accounts of the Dunlop Pneumatic Tyre Company (Australasia), Limited, for the Two Years ended 31st Januan'' 1899, and beg to report us follows The Sales for the year ended 31st January, 1898, amounted to £76,029 7s lOd, and for. the< year ended 31st January. 1899. to £91.8710s lid, being an average of £83.950 4s 4d per annum. The Net Profit for tho same periods to t £11 975 8s 3d and £14 707 19s lid respectively, being an average of £13,34114s Id per annum, and equal to over 15 per cent, per annum on f the' net sales The total Sales for the Six Months ended 30th June, 1899, have reached £48,854 Is sd, as compared with £44,296 7s Id \ for the corresponding period of 1898. The number of Tyres sold during the last financial year amounted to 55,569. The business;', is practically worked on a cash basis, the bad debts for the two years under review representing less than (15s) fifteen Bhiliingsiipr cent, unon the turnover for the whole period. The above figures speak for themselves as to the magnitude and soundness of r the business of the Company.-I am, Gentlemen, yours faithfully, THOS. BBENTNALL. F.1.A.V." ..g As appears from the Accountants' Certificate, the net profits for the year ending January 31st last were £14,707 19s lid,-' and as the preferential dividend on the present issue of £80,000 only amounts to £5600, THESE PROFITS WOULD EN-. ABLE SUCH DIVIDEND TO BE PAID MORE THAN TWO AND A-HALF TIMES OVER. In addition to this, it will be " noticed from the certificate that the sales of the Dunlop Tyres for the present year exceed the sales for the corresponding' months of last year. The recent reductions on the cost of Cycles have brought them into universal use, and they are now regarded in almost every. household as a practical necessity, and there can be no doubt that the demand for DUNLOP TYRES will continue to increase s each year. It is intended to further extend the scope of the business by introducing into these colonies the DUNLOP : PNEUMATIC CARRIAGE TYRES, which are now so extensively used throughout Europe and America. -vg The DUNLOP TYRES are the world's standard, and nearly all the principal cycle manufacturers throughout the world fit their machines with Dunlop Tyres, and this Company will acquire the exclusive right for Australasia to the valuable Trade Marts l and Trade Names of this business. :|g The Vendor and Promoter, Richard Garland, Esq., Managing Director of The Dunlop Tyre Company, Limited. Toronto,s Canada, has fixed the purchase price of the Goodwill, Trade Marks, Trade Names, Patent Rights, Leases, Plant, and Furniture, j in Australasia at £135,000. The value of the Goodwill (including the Trade Marks md Trade Names, as well as the benefit % of the valuable contract obtained from the English Dunlop Pneumatic Tyre Company, Limited) has been apportioned at £125,000. Out of the purchase price, only £45,000 is payable in cash, the balance thereof being represented by the said deferred Preference Shares and the Ordinary Shares. The Company will commence business free from debt, and with a' working capital of £35,000 (less only the usual brokers' commission of sixpence per share), which will be ample for all purposes, and will enable it to cany'! on its business on best cash terms. us The business will be carried on without interruption, upon the lines which have proved so successful in the past, AND AS THE HEAD OFFICE OF THE COMPANY MILL NOW BE IN AUSTRALIA instead of in England as heretofore, it is anticipated that the business will be carried on to better advantage than ever. 3f The Contract for Sale and Purchase is dated 10th August, 1899, and is made between the said Richard Garland of the ons ;; part, and Frederick Arthur Moule, Esq., of Market-street, Melbourne, Solicitor, as Trustee for the Company of the other part, andf provides amongst other things that the stock of The Dunlop Pneumatic Tyre Company (Australasia), Limited, shall be acquired at I cost price. The contracts between The Dunlop Pneumatic Tyre Company (Australasia), Limited, and The Dunlop Pneumatic Tyre Company, Limited), respectively, and the said Richard Garland, are dated the 15th day of May, 1899. • M The Vendor and Promoter will bear all cost in'relation to the formation of tho Company up to Allotment, including the payment of a commission averaging not more than 10 per cent, for underwriting the present "issue, payable partly in cash and partly in the Ordinary Shares. ' £ ' The only preliminary expense which will be payable by the Company will be the usual brokerage of sixpence per share on the. Preference Shares subscribed for by the public. ° The said Contracts, and Mr. Brentnall's Certificate above referred to, and the proposed Memorandum and Articles of M sociation of the Company, may be inspected at _ the Office of the Solicitors to the Company. *'M Applications for Shares must be made in the form accompanying, and sent to one of the Company's Brokers, with it cheque for the amount payable on Application. Where no Allotment is made the deposit will be refunded in full, and whore the Allotment is less than the amount applied for, the balance of the deposit will be applied towards the instalment payable on Allotment. Allotment will be made i' ' order of priority of application. ' ' 'i&j Prospectuses and Forms of Application can be obtained from the Brokers of the Company • or at the Offices of th» Bankers or Solicitors of the Company. ' /•» Dated this 19th day of August, 1899.

GOLD MEDAL., yfev Health Exhibition, London. For MFMTB,IS>A INVALIDS, Vraß | and the AGED. This delicious and highly nutritive Food has been used with remarkable success in the rearing of Infants, and by delicate and aged persons in England for many years. It can now be obtained in sealed tins of leading Chemists, &c., in the Colonies, and will prove a boon to mothers and nurses. BENGEH'S FOOD is sold In various •sized Tins by Chemists, &c,, everywhere Wholesale of all Wholesale Houses.

"DATHS.— BATHS.—OPEN EVER' iJ DAY for Ladies and Gentlemen from ' a.m. till 6 p.m. Charges, 3s; Saturday »s Eight -Tickets for £1. Nothing better' fo purifying the skin, restoring the health o removing aches and pains of all kinds Also Hot and Cold Plunge Baths, with shower M, from 6 a.m. till 7 p.m.—Lome-street, ot Viotona-street East.: cv ■ 1