Page 17 Advertisements Column 4

New Zealand Herald, Volume LXVI, Issue 20252, 11 May 1929, Page 17

A Safe, Sound Profita orporation Limited Capital: £160,000. Divided into 100,000 Preference Shares of £1 each, carrying a preferential and cumulative dividend of £8 per centum per annum, and 60,000 Ordinary Shares of £1 each (of which 48,750 have been allotted) OFFERS FOR SUBSCRIPTION i 0 in £1 8% Cumulative Preference Shares On the following terms: —2/6 on Application, 2/6 on Allotment, and the Balance in Calls of not more than 2/6 per share at intervals of not less than three months. Directors: W. CHISHOLM WHITNEY, Esq., Manager and Director Colonial Ammunition Co. (N.Z.), Ltd., Mount Eden, Chairman. JOSEPH S. EMANUEL, Esq., Managing Director. WILLIAM V. WORTH, Esq., of Chambers, Worth & Chambers, Public Accountants and Auditors, 23, Shortland Street, Auckland. I. GOODMAN, Esq., Retired Manufacturer, Dunedin. Osnkcrs * THE NATIONAL BANK OF NEW ZEALAND, LIMITED, Shortland Street, Auckland. This is an exceptional opportunity for you to secure a Gilt-edged Investment, carrying the right to a fixed cumulative preferential dividend at the rate of £8 per centum per annum on the capital, for the time being paid up thereon—payable half-yearly. Object of this Issu . . The object of this issue is to increase the capital of The Reliance Loan, Mortgage, and AflaeflStfir Discount Corporation, Limited, to meet the growing demands which are being made on , its reserves from day to day. The Corporation roiiowmg ina occupies a sound, well-established position, prepared oy two but the demands Tor finance are larger than miau it can at present undertake. It lends on First We certiry that v Mortgages, Second Mortgages, Discount Mort- Balance Sheet gages. Bills or Lading, Shares, Interest under MORTGAGE, AND Wills, and Chattel Security. Its service pro- LIMITED, as at M vides assistance l'or thousands of people who Prolit and Loss Ai are In urgent need or temporary ilnancial ended same dat< accommodation, and It is the ONLY CORPORA- Balance Sheet di: TION IN THE DOMINION OPERATING AND in a sound flnanc: FINANCING ON EVERY CLASS OF SECURITY. The profit, on i above eleven mo (Or /•/-*• • 7 allowances, is sui Success of Similar without such new Organisations in paying an 8 This business is not an experiment, hut a proposed new i: proven success, as is evidenced by the impreg- and leave a subs nable position held by the Corporation to-day, dividend on Ordin and its phenomenal success since its com- (Signed) MC mencemcnt. it Is a well-known fact that r, n similar organisations, operating in other parts Auckland, May or the world, have been highly successful. It is also worthy or note that losses on this ~~ class or business are practically lion existent. The Shares of Financial Companies almost invariably bring high premiums on the Stock Exchange, and are usually quoted above par, for the following good reasons:— t Ist.—Your Capital is absolutely safe. 2nd.—Your Dividends arc assured. 3rd.—Reserves always increasing add to the Stability or the Corporation, and thus create a constant demand for this class or shares. In England and Scotland, preference shareholders only receive on an average live and one-hall' per cent. In most cases, preference shares showing eight per cent, are quoted on the New Zealand Stock Exchange to-day at twenty-six to twenty-seven shillings. Exceptional Secu All mortgages arc valued by recognised experts in this particular branch, in co-operation with the Managing Director, and in all cases nothing less than a 50 r /o margin is allowed, while in most cases the margin is considerably more. Consequently -when the preference share issue is called up and invested, in conjunction with original capital of £60,000, IT IS ESTIMATED THAT THE SECURITIES WILL BE WORTH APPROXIMATELY £400,000 ON A VERY CONSERVATIVE BASIS. It is the intention of the Directors to gradually call up the additional capital, and to invest it as received, but even if the ahares were called to ten shillings each, and the money remained uninvested, THE COMPANY COULD, ON ITS PRESENT TRADING, PAY EIGHT PER CENT. ON THE ADDITIONAL CAPITAL SUBSCRIBED. Independent Auditors' Report The following independent certificate has been prepared by two of the best-known firms of Auditors in Auckland. We certiry that we have examined the audited Balance Sheet of THE RELIANCE LOAN, MORTGAGE, AND DISCOUNT CORPORATION, LIMITED, as at March 31, 1929, together with Prolit and Loss Account, for the eleven months ended same date, and in our opinion the Balance Sheet discloses the Company to be in a sound Ilnancial position. The profit, on its present capital, for the above eleven months, after making all due allowances, is sufficient to'pay an 8 per cent, dividend on the proposed issue of 100,000 Preference Shares paid up to 10/- per Share, without such new Capital earning any interest. In our opinion, the Company, on "the basis or its present earnings, should have no difficulty in paying an 8 per cent, dividend on the proposed new issue of Preference Shares, and leave a substantial amount available for dividend on Ordinary Shares. (Signed) MORRIS. DUNCAN, & GYLLIES. * /-iT»r-*rrr f. PTVTT TT C Solicitors: EARL, KENT, MASSEY & NORTHCROFT, Swanson Street, Auckland. Secretary: M. R. RATCLIFFE, 308, Dilworth Building, Queen Street, Auckland. Auditors: MACKLEY & CROCKETT, % Public Accountants and Auditors, Alliance Assurance Buildings, O'Connell Street, Auckland. Broker: CAMPBELL PATERSON, 23, Shortland Street, Auckland. Return to Investor THE EIGHT PER CENT. PREFERENCE DIVIDEND IS ASSURED TO INVESTORS ON THE PROFIT BEING EARNED BY THE FIRM'S PRESENT TRADING. The New Capital will be called up as required in calls of not less than two shillings and sixpence per share at intervals or not less than three months. It will be invested Immediately as It is received, mainly on operations in the Mortgage Department. In ————————-J this particular class or finance, where a corporation is lending on mortgages and discounting 1 , the rate of Interest is between 10 and 12 ftViHK per cent. Naturally, on chattel securities the interest''charged Is higher to cover any addir&StSOl'f! tional risk —therefore, when the preference a capital is fully paid up and invested, this capi>rtificate has been tal, with the present turnover of the business, t-known firms of will ensure a gross annual interest return of kland. between £20,000 and £24,000. . ... The above figures are based on very conservan,'r,«a!KA\v tive estimates, and therefore it can readily L be seen that arter allowing Tor adminlstrar CORPORATION, lj on COS | S , the net results will be that 129, together With THE ANNUAL INTEREST WILL COVER TWICE the eleven months THE AMOUNT REQUIRED TO PAY THE EIGHT our opinion the PER CENT. ON THE PREFERENCE SHARES. OILFILLAN & GENTLES. Auckland, May Ist, 1929. ; 3K a- is: Method hums "erf P IOO C 000 As previously mentioned, advances, are made 'n in/_nsp Shane on every class of security, the most conservarninn anV interest tive valuations being made in every case. v nn-thp basis or Loans run from between £2O and £IOOO, thus i'invo nn difficulty spreading the securities and minimising the riivirionr! on the risk. Second Mortgages will in most instances 'reference Shares be backed up by collateral securities, and mint avTiiihlo for on a reducible basis, thus improving ount avatiaDie ior the securlty , all the tlme . * r.YiiTFS Another guarantee or the security is the care r.FNTrVs with which the Managing Director personally ' supervises and inspects all securities offered. No loan goes through—no security is accepted ■ —without his personal approval. Every possible precaution is taken to ensure that the borrower can repay the advance on the terms agreed upon. Thus preference shareholders are assured that investments made by the Company arc sound and gilt-edged. Mr. Emanuel and his father, the late Mr. Aaron Emanuel, have for many years been associated in every branch or finance, and to-day the Managing Director is a recognised authority on the subject. The wonderful growth or this Company has been made possible largely through his unfiling policy or 1-airness, Honesty, and Integrity " In every transaction negotiated. Where to Apply for Prospectus This Abridged Announcement is Tor information only. Applicants for shares should obtain the full Prospectus from any branch or the Company's Bankers, the Rational Bank of New Zealand, Ltd.; from tlio corporation's Broker, Mr. Campbell Paterson. G.P.O. Box 120G, Auckland, or 23, Shortland Street, Auckland; Chambers, Worth. & Chambers, Public Accountants. Shortland Street, Auckland: at the Corporations nfilce. .108. Dilworth Building. Queen Street, Auckland; or from any Registered Sharebroker. In view of the attractive nature of this issue, intending investors should send for their copy or the Prospectus at ONCE. Post this Application for Prospectus Now I f TO tlj!j |£ l r i,\j\nE LOAN, MORTGAGE, AND DISCOUNT j 1 CORPORATION. LTD.. i C/o. Campbell Paterson, Esq. ) G.p.o. Box 1206. Auckland. ' Please forward nic, without obligation, a copy of the Company's i Prospectus. 1 1 Security estimated on a very conservative basis will be worth approximately £400,000 when the capital has been invested. 2 The annual interest will cover twice the amount required to pay the eight per cent. Preferential Dividend. *5 The Corporation could, ON ITS PRESENT TRADING alone, ** pay the interest on the new Preference Capital called up to 10/- per share, even if such Capital remained uninvested.

Our recent record purchase of Diamonds bought direct from the cutters in Amsterdam enables us to offer beautiful Diamond Engagement Rings at an amazingly low price. Inspect our stocks, compare our prices, and you will be convinced that Jas. Pascoe offers easily the bctt value. ENGAGEMENT RING CATALOGUE POSTED FREE ON REQUEST Hls—£l6/10/-. Others from £6. H 37—£45. Others from 90/-. H3l—£ls. Others from £B. Hl7—£l7/10/-. Others from £lO. H34—£2o. Others from £lO. H 22—£4/10/-. Others to £IOO. H29—£2o. Others from £7. m H24—£l2/10/-. Others from £lO. VHET:^ H3o—£2o. H33 T £4° Others from £6. £7 Others from £6. Others from £6. Others trom *. JA$FOUR STORES: 56, Karangahape Road, Auckland. 80 & 292, Queen Street, Auckland. Also at Hamilton.