Page 8 Advertisements Column 1

New Zealand Herald, Volume LXVI, Issue 20324, 3 August 1929, Page 8

New Zealand Breweries Notice to Holders o Issued by the Payable t The Directors of the Company, after mature consideration as to the best method of re-arranging the capitalisation of the Company on fair and equitable lines between its Shareholders and Debenture Stock holders, in view of the success which has attended the Company's operations, recommended to the shareholders a scheme under which (1) the capital of the Company was to be increased to £2,000,000 by the creation of 1,500,000 new shares of £1 each (2) 250.000 of these new shares were to be allotted as fully paid up to the present shareholders by way of bonus distributed out of Reserve Profits, and (3) Debenture Stock holders were to be granted the option until the 10th day of January 1930 of exchanging their Debenture Stock as from the Ist day of April 1930 for fully paid up £l shares in the proportion of Two pounds of Debenture Stock for one fully paid up share. This scheme was considered by the shareholders at the ordinary meeting of the Company held on I 7th July 1929, when the following Resolutions (inter alia), necessary to bring the same into eifect, were duly passed: (a) That the holders of the Debenture Stock issued by the Company now current be granted the option of exchanging from the Ist day of April 1930 the Debenture Stock held by them respectively for fully paid up shares of £ I each in the Company in the proportion of Two pounds of such Debenture Stock for one of such fully paid up Shares, such option to be exercised by the respective Debenture Stock holders in writing addressed to the Directors of the Company in Wellington on or before the Tenth day of January 1930. ((b) That one fully paid up Share of il in the Company be allotted on the first day ot April 1930 to each Debenture Stock holder, who shall on or before the Tenth day of January 1930 exercise the option for conversion granted to him or her bv the Company in satisfaction and discharge of every £2 of Debenture Stock surrendered by him or her to the Company on the First day of April 1930 for cancellation and in exchange for such shares in terms of such option, nr.d in the event of any such Debenture Stock holder being entitled upon such exchange to a fractional share, then such fractional share shall be dealt with by the Directors of th« Company for the benefit of such Debenture Stock holder in such manner as they may determine. (c) That for the purpose of the filing by the Company or a eonLract in terms of Section 97 of "The Companies Act 1908, in oruc to evidence the title of the several Debenture Stock holders to the fully paid up Shares to be issued to them respectively in exchange for their respective Debenture otock the Directors of the Company may appoint any person to sign such contract on behalf of the several Debenture Stock holders entitled to such Shares as aforesaid. The Bearer Debenture Stock which you hold forms a portion of an issue of £1,000.000 Debenture Stock made by the Company about 6 years ago. This Debenture Stock bears interest at the rate of 10% per annum, and the Company is entitled to redeem the same on the First day of July 1933. When this date arrives, the investment at the rate of 10% per annum (free of tax) will have been current for a period of ten years and will have proved a very lucrative investment to the original investor who took up the stock at par. The investment has proved such an attractive one that the stock has appreciated considerably in value on the market; but present values are not likely to be maintained when it is realised that redemption may take place at par on the date above mentioned. The strong financial position of the Company does not warrant this existence or continuance of a charge on the assets of the Company (yielding 10' r per annum) beyond the date when the Company is first entitled to redeem, and the Directors contemplate the redemption of the issue in July 1933, and expect that such redemption will then be effected. Such being the case, the Directors deemed it advisable to find some method of giving to the Debenture Stock holders the option of changing their investment to that of a share investment presenting attractive earning power and possibilities. They considered that it would be unfair to the Debenture Stock holders to withhold from them the information regarding their policj respecting the redemption of the Debenture Stock—hence their recommendation of the above scheme and this present notification of its adoption by the shareholders. NOTICE, THEREFORE, IS HEREBY GIVEN that all holders of Debenture Stock are granted (in terms of the Resolutions set out above) the option until the 10th day of January 1930 of exchanging their Debenture Stock as from the First day of April 1930 for fully paid up Shares in the Company in the proportion of Two pounds of Debenture Stock for one fully paid up Share. All holders of Debenture Stock who desire to exercise this option must sign a request in the form prescribed by the Company and return same to the Secretary of the Company at Wellington on or before the 10th day of January, 1930. Forms of request are obtainable from the Secretary of the Company, P.O. Box 211, Wellington, and at the branch offices of the Company at Auckland, Gisborne, Wellington, Christchurch and Dunedin, and at every branch of all Banks operating throughout New Zealand. Any Debenture Stock holder who exercises this option must comply with the conditions imposed by Resolution (b) set out above, namely:—He must on or before the Firet day of April 1930 forward or hand to the Secretary of the Company at Wellington his Debenture Stock Certificate or Certificates, having attached thereto all Interest coupoiu payable on and after the Ist day of July 1930. Coupons payable on, and pnor to, the Ist day of April 1930 will be retained by him and presented for payment on due dates. And subject to such compliance he will be allotted on or about the Ist day of April 1930 the number of fully paid up shares to which he will be entitled. Holders of an odd amount of Debenture Stock will not be able to exchange the odd pound of Debenture Stock for Shares, and consequently the Directors have decided to redeem such odd amounts in cash at the rate of f 1/7/6 for £1 of Debenture Stock. By way of example, the holder of £75 of Debenture Stock, who exercises the option to exchange, will receive a Certificate for 37 Shares and the sum of £ 1/7/6 in cash. Since all Debenture Stock holders who exercise the option to exchange will receive interest up to the 31st day of March 1930, it is not intended that the Shares issued in exchange for Debenture Stock shall participate in dividends which may be declared in respect of a period prior to the Ist day of April 1930. The first dividend, therefore, which will accrue on any shares issued in exchange for Debenture Stock will be the first interim dividend declared in respect of the financial year commencing on the Ist day of April 1930 and ending on the 31st day of March 1931. By Order of the Board, ALFRED S. BANKART Chairman of Directors. DATED at Wellington the 25th day of July, 1929.

IMPORTANT TO "EVERY INVESTOR. THERE IS NOW AVAILABLE A VERY LIMITED NUMBER OF 7|% FIRST ». MORTGAGE DEBENTURES which are being issued by a Sound Public Company, and are to be secured on the Freehold assets of the Company of the value of upwards of £40,000. / This is an Investment, not a Speculation—and, as Debenture Holders will be secured on Property with a Trustee s Safe Mortgage Margin, it is a unique opportunity of obtaining a sound, solid investment, returning a much higher rate than that obtainable for the ordinary mortgage or bank deposit. As application is to be made to the Stock Exchange for the listing of these Debentures, and the security and return is undoubted, they will inevitably reach a premium. ' Apply early to avoid disappointment. C. J. GREEN, SHAREBROKER, Bank of N.Z. Chambers, Swanson St., AUCKLAND. Telephone 42-499. WELLINGTON CITY COUNCIL Sale of Debentures. Gilt-Edged Investment. WAINUI WATERWORKS LOAN. 1860. REPAYMENT LOAN, 1929: £130,000. TERM. 15 vear-s from Ist September, 1929. RATE OF INTEREST: 51',;. SINKING FUND: li'.i. SECURITY: Special rate on unimproved value of City of Wellington. INTEREST PAYABLE: Ist March and lit September. Interest and Principal payable throughout New Zealand free of exchange to the holder. Subscription* from the public are invited by the Council for debentures in this Loan at par. Debentures are for £IOO each and must be fully paid for on lit September. 1V29. Applications to be made either direct to th? City Treasurer. Wellington, or through any New Zealand branch of the Council's bankers, the Union Bank of Australia. Limited. Allotments will be made by the City Treasurer, Wellington, in order of receipt of applications by him. E. P. NORMAN. 29th July. 1929. Town Clerk. J COMMERCIAL COLLEGES. N K <> I, \y O W. SPECIAL SPEED AND ACCURACY CLASSES. Start on August a, For The I ' GOVERN MEN") SHORTHAND-TYPISTS' EXAMINATION. Which Takes I'l je in November. S WORTH AND. TYPEWRITING COMMERCIAL ENGLISH. For lurthei particulars. apply in person, by mail, or Phono 4(>-2,Sli. COMMERCIAL QOLLEGE, N.Z INSURANCE BUILDING. AND AT HAMILTON. EDUCATIONAL. TQ RULE IG II QOLL EG E, AN'/,AC AVENUE. _ " EMPLOYERS PREFER DRULEIGH STUDENTS." Accountancy. Commercial Art. Book-keepinC. Dressmaking. Mercantile Law. Wireless Operators. Economics. Kleetrical Finsineerinc Business Letters. Structural Eiigineerinu Business Methods. Modern Languages. Shorthand. .Journalism. 'l'y £»t*writiii£i. Story W ritint?. Latin (to Honours) Mental Science. Mathematics Kducation do Honours). (to Honours). | Matriculation. Proficiency. I Workshop Practice and Laboratory for j Wireless Operators and Electiical Engineers. I Tsstiun Building, Anzac Avenue. <i. P O'SHAN'NASSY. Ph. D.. Phono 4G-WI. Principal, MISS K. B. M. BRAIN A. J. HUTCHINSON Principal Director AUR PASS LIS'J IS NOW WELL OVER THE 1000 MARK. With Class and Correspondence Studeijti, Assisting to .Maintain the rirc.ll AVERAGE. ! c. Specialise in Oil. Electric. Steam and Structural Engineer*^ | BOWER'S ENdINEERING SCHOOL, i Cohvill's Chambers. | ownnsnn Street. Auckland P.O Bo* 50. COURSES IN AUCKLAND During AnKUst. DALCROZE EURH YTHMICS Taken bv Miss Beryl Whistler. COUNTRY DANCING By Miss Muriel Searlt All particulars 5, Irene Av.. Mt. Eden. cj turr o7; k s fTfTn~6"b"L YD OF ENGINEERING. With Us You Will Attain MAXIMUM EFFICIENCY IN MINIMUM TIME. UUAY BUILDINGS, Unity Sheet. Auckland. Phone l-t-110. gI'CCESS MUST 1315 PAID FOR. , But it pays a handsome piolitin return. Get after success with an I.C.S. Course. ' Aeroplane Engineer, Aoroplanft Rigger, Textile Expeil Write to INTERNATIONAL CORRESPONDENCE SCHOOLS (N.Z.). LTD.. 305 B, N.Z. Insurance Bldgs., Auckland. U~**~N I VERSI'I Y COACHING COLLEGE, 13V. FERRY BUILDING. AUCKLAND Expert Coaching (personal and by correspondence) for Matriculation, etc. Special Class for Pharmacy " B " Botany. Students now being enrolled lor Second Term, commenced .111 !1(J 4. D W FAIGAN. M.A., Phono 44 27J. Principal. \ SIJLEIGH COLLEGE. N.Z. Insurance -l\ Bldg.—Matriculation, P.S.E'., Teachers' Examinations, General Education. Special Classes Saturday morning. ASHCROFT. 17, Ladies' Mile. Reniuera.— Tuition for Proficiency, Matriculation, Professional Examinations: Licensed Surveyor.- -Phone 17-802, A Rolfe 8 contains *s i T n, at m k uch uu 1« tins.-Obtainablo A \Vu- 1 , col }?ince yon that there is fernery vthero. lnaul ° I xl r uothniß hkc Rolfe's Wax for Linos ami fcurnituro. TEACHERS OF ELOCUTION. pULFORD BELL. The Academy. Queen v St. (next Tabernacle).-rPublic Speakinc. Recitation, Cultivation of Speaking Voic». STUD NOTICES. 1"I0 STAND THE SEASON AT THE .AUCKLAND STUD CO.'S DILWORTH FARM. PAPATOETOE, THE IMPORTED COMMANDING DARK CHESTNUT HORSE, WHIRLWIND (1) (Winner of the Piccadilly Plate. 500sovg., li miles, at Hurst Park). Foaled, 1924. By GALLOPER LIGHT (it) (winner Grand Prix de Paris. Norfolk Plate. Madingley Stakes, Ilaßlings Plate and Payne Stakes. and sire ol winners of over A''ls,ooo, including Beam, winner of Oaks; Reflector, full brother lo Whirlwind, who defeated Mr. .finks in Buckenham Post Produce Stakes rind won 40.10 so vs. last year) from DOUBLE BACK, dam of Reflector, Pillion (winner ol' Oaks and about XI 1.000). Setback. Couplet, K u Core, winners purchased respectively for Spanish. Indian and Australian breeders, and a full sister to En Core sold to ro to America. WHIRLWIND'S grand dam, WILL RETURN. was got by William the Third (2) from RECALL, by Retreat (19) from SPRING RAY (sister to Sunrise, dant of Limond, sire of Limerick), by Springfield (12) from Sunraj-, the third dnm of (hose fine racehorses and leading sires Martian and Bonifonn and gianddam of Otford. dam of Manfred. Fee. 50 guineas. Grazing. 7 s (id per week. All care; no responsibility. For cards and further particulars, apply H. R. M ACKKXZIF " ACACIA BUILDINGS. O'GONNELL STREET. /Vuckhind, 'Phone 43-30! J. rpiE THOROUGHBRED . SIRE. KILBRONEV (2). Sire of Oratrix Inst N.Z. Cup Winner, and Concent rat. the dual St.. Leger Winner. Intending breeders are advised to inspect Kilbronev beiore sendinif their mares elsewhere Also l'Ufcl TROTTING SIRE. WORTHY BOND, 2.Hi The only sor. of Axworthy m Australasia. The Axworthy family stands alone as the progenitor of extreme speed. For cards and full particulars apply B. EDWARDS. Ma rd el la Stud. Otauhuhu. Pbone 150, Otahuhu. iNf OTI C E TO BR EEDE KS. TO STAND THE SEASON AT ACRE LODGE. VARDON lID., TE RAPA, THE THOROUGHBRED STALLIONS AND QASBAG. Also, Cream Pony Kins Leo. Inspection Invited. Full particulars from J. P. THORPE. Owner, P.O. Box 101, Hamilton. TO STAND AT MOUNTAIN VIEW STUD 1 FARM, THE THOROUGHBRED STALLIONS—MITSKETOON (Imp.). No. f> Also. KING LU. No. 2-. For. pedigree and tormß, cards sent on ap plication, to P.O. BOX 35. TE AROIIA. r jPE MONANUI. Great Handicap Horse, at Avondalo. Terms: £ls 15s onsn.—Further particular apply H. WESTON. Avondale.