Page 14 Advertisements Column 3

New Zealand Herald, Volume LXV, Issue 20114, 27 November 1928, Page 14

m r \ ess imm ir s' » s JV a 55**5^r! KEK t®2c m II Pt scores of Designs Not a Few Only A wide choice is essential in good buying of Furniture—it is always disappointing to see something you lijce better after you have bought. Before you decide, see the big selection shown at Quigleys— two large floors of artistic Chesterfields, Wood Furniture, and Carpets. Such a showing would not be possible in Queen Street—except prices were considerably increased. Quigleys values cannot be beaten. Your inspection is invited. rift re;: ■ T,i, ty „ ii-iSiil'y ili fyor fyTn^wurniture^ CORNER ANZAC AVENUE AND CUSTOMS STREET (Four Minutes' Easy Walk from Queen Street). is* fissjfcas esse E»S2S Who Conquered jJSI^JFLORIDA HE RNANDO DE SOTO 'l* Princely nobleman and peerless navigator, Hernando DE SOTO first carried civilization to the Golden West and conquered Florida in 1531. *A new super-quality product has been mimed after DE SOTO Watch fiw it / Company, ami will be adjusted to the nearest half-yearly date , following payment in full. In the event of over-subscription the Directors will give preference to applications not exceeding £SOO. The minimum subscription on which the Company shall go to allotment is £30,000 of :Lhe said Stock. THE FIRST MORTGAGE. The assets of the. Company will be subject to a first Mortgage to the Public Trustee securing the sum of £60,000 at 6 per cent, per annum. One-half of the principal sum will be extinguished in 25 years, by the operation of a sinking fund, at the rate of £l/15/6 per cent, per annum, bearing compound interest at the rate of 5} per cent, per annum. The annual sinking fund payments will continually increase the margin of assets in favour of the Debenture holders. ASSURANCE OF INTEREST. The rents of the building for 1926 were £9,515/16/6, for 1927 they were £lO,lOl/16/1, and for the current year they will be again approximately £IO,OOO. Of these totals 45 per cent, is derived from premises other than the theatre. Taking the rent roll as £IO,OOO, then, after deducting the interest and linking fund of £4,1130 on the first mortgage, the remaining net rents are more than 30% in excess of the debenture interest of £4,275. The Majestic Theatre it leased for a term of 21 years from the 6th day of July, 1925, to Auckland Theatres, Limited, one of the associated Companies of Fuller-Hayward Theatres. The rental is adjusted annually to a figure sufficient to cover all outgoings of the Majestic Theatre Buildings, Limited, including interest, rates, taxes and general expenses. This operates as a guarantee of the Company's income, and therefore of the Debenture interest. The lease also provides for a renewal for a further 2 I years at a rental to be agreed upon, and to be fixed by arbitration, failing agreement. CONTRACTS. The only material contracts affecting the present issue are:— (I ) Copy of Trust Deed with the Public Trustee to be executed by the Company. (2) Agreement dated the 15th day of November, 1928, with G. Stewart Craig, Ltd., as Brokers, providing for a commission of 2 per cent, on all Debenture Stock allotted. The brokers will also be paid remuneration not exceeding £142/10/- for other services rendered incidental to this issue. Copies of the tiaid contracts may be inspected at the Offices of the Company's Solicitors during ordinary business hours. APPLICATION FOR MORTGAGE DEBENTURE STOCK. To the Directors, THE MAJESTIC THEATRE BUILDINGS, LIMITED, C/o G. Stewart Craig, Ltd., 41, Shortland St., Auckland (P.O. Box 487); I HEREBY APPLY for and request you to allot me £ Mortgage Debenture Stock, bearing Seven pounds ten shillings per centum per annum interest, upon the terms provided in the Prospectus, dated the 24th day of November, 1928, and I enclose herewith the sum of £.......... being 2/6 in the £1 payable on application. AND I HEREBY FURTHER AGREE to accept the said Debenture Stock or any smaller amou s that may be allotted to me, and, as provided by the said Prospectus, to pay the sum of £ being the balance of the said stock on allotment* *or 2/6 in the £1 on allotment and the balance in three quarterly payments of 5/- in the £J each. Should a smaller amount of stock be allotted than I have applied for, any sum enclosed herewith ahall be adjusted, or an excess credited to the sum payable on allotment. Name in full (Mr., Mrs., or Mias) Address Occupation Date Signature * (Cross out whichever alternative does not apply to your application). The Subscription Lists will close on or about WEDNESDAY, December 19th.