Page 3 Advertisements Column 5

New Zealand Times, Volume XLIII, Issue 7278, 22 September 1884, Page 3

Prospectus Prospectus OF THE WELLINGTON LEATHER MANUFACTURING COMPANY OF NEW* ZEALAND (Limited), CAPITAL £150,000 In 15,000 Shares or £lO Each. Payable as follows : —Two shillings and sixpence per share on application, seven shillings anil sixpence per share on allot* meat, then the balance as may be required, but no call shall exceed leu shillings per share or be ma le at lesser intervals than three mouths. It is not intended to issue more than 10,000 shares, nor to call up more than £5 per share. Any shareholder desirous of prepaying his calls, either in whole or in part, will receive Interest on any amounts so prepaid at the rate of 8 per cent, per annum. Provisional Directors : Anderson, David, jun. Archibald, Robert (Scoular and Archibald) Baird, J.D , C.E. Baker, Arthur (W, M. Bannatyne and Co.) Barber, Henry (Man’g Director W.M.P, and R. Co.) Barraud, Charles D. Brandon, Hon. A. de 8., M.L C. Brown, Councillor A. W. I Buick, David, Petone i Cattell, James] Clark, William Clapham, G. P. Clapham, W. T. Coffey* Paul Danks, John (S. Banks and Son) Dodds, W. T. (N.Z. L. & M.A. Agency Co.) Dransfield, J ‘ J.P. (United Importers Co.) Duthie, John, J.P. (John Duthie & Co. Evans, J. E. Finlay, William Fitzherbert, H, S., M. Gear, Jas, (Managing Director Gear Co.) Graham, G. S., J.P., (Colonial Insurance Co.) Greenfield, Robt. M, Harcourt, J. B. (Harcourt & Co.) Izard, Charles B, (Izard and Bell) Johnston, Charles J,, M.H.R. (Johnston and Co.) Lang, A. 0. (Murray, Roberts ana Co.) Levin, W. H., J.P. (Levin and Co.) Lindsay, Alfred Luke, Charles M. (Luke and Sons) Luxford, G. H. Macdonald, T. Ivennedy Mackay, Jamas McKelvie, John, Ran-lucj-avisn, a. o, (McTavish, Tatum and Co.) Miller, Councillor Robert Mills, E. W. (E. W. Mills & Co., Lmtd) Plimmer, John Reid, Nicholas (W. G. Turnbull & Co.) Reid, J. Stuart Roberts, H. 0. (C. Greatrex and Sons) Robertson. David (Robertson & Co.) Spreat, W. W. J. Stfiwart, Chas. (Stewart and Co.) Turnbull, Thomas Tyer, Alfred Waters, W, R, Whitehouse, Thomas Williams, Capt. W. R. Wright, Henry (Meat Export Co.) Bankers : The Bank of New Zealand, Wellington. Offices : Ghuzaee street, Wellington. Acting-Secretary ; Robert Wilberfoss.

1. This Company is formed for the purpose of taking over, continuing the work of, and extending the joint businesses heretofore carried on by Mr Alfred Tyer, at his wellknown Tannery Works at Ngahauranga, near Wellington, and by the New Zealand Learner Manufacturing Company at their Tannery at Berhampore, their Boot and Shoe Factory and Warehouse in Gbuzneestreet, and their Retail Shop situated on Lambton-quay and Willie-street. 2. The businesses of Tanners, Boot and Shoe Manufacturers and Leather Salesmen, will be carried on by the Company in all their branches. 3. The Tannery Works at Ngahauranga have held an established reputation for the last ten years, having been carried ou with yearly increasing success since their commencement, bo much so, that Mr Tyer has, through the£excellence of his manufactures, without the aid of travellers, representatives, or agents, made the business one of the largest of its kind. 4. The productions of the New Zealand Leather Manufacturing Company have, during the two years of the Company’s existence, grown into favor in all parts of the colony, but the capital at the disposal of the Company has proved inadequate to provide the necessary extension of premises, plant, and material. 6, It was the recognition of the fact that induced the Directors of tho New Zealand Leather Manufacturing Company to approach Mr Tyer with proposals for the amalgamation of the two businesses, and the establishment of fchejpreseut Company upon a broad financial basis, C. Th© Company tako over the joint businesses under the provisions of two agreements entered into between Mr Tyer, The New Zealand Leather Manufacturing Company, and Mr Robert 'as agent for the Company, dated the ls.th day of August, 1884, which set forth, amongst other matters, that the whole of the freehold lands situated at ; Ngahauranga and the City of Wellington, and consisting of part of section No. 8, Harbour District, containing sixty-four acres j part of Town Acres Nos, 1011, 1013, 1014, 1015, and 183, containing nearly four acres, with the fully-equipped tanneries, warehouses, boot and shoe factories, and coU tages erected thereon j also all the valuable and modern machinery for tanning and hoot manufacturing purposes, £c., steam-engines, boilers, pits, and fixtures pf every kind, together with the interests under all contracts held by the Yendora, and the two leasehold shops, arc to be transferred to tho Company for the sum of £28,545 17s 9d. The stock on hand is to be taken at a valuation, to be made by two disinterested valuators, with

liberty to appoint a third valuator In %j event of disagreement between thn other two. 7. Mr Tyer takes 41500 ft of the purchase# money of his business pi pafd-np shares of the Company, allows the balance to be paid oo,t of a proportion of the calls of the Company as they oome in, while the New Zealand Leather Manufacturing Company allow the payment for their business to by made by quarterly instalments extending over four years. Tbe egeqt of these concessions by the Vendors yfili be to give the Company the immediate benefits of the daily sales from the large stocks on band in both places, and provide an easy working capital without Bank assistance. 8. The promts available from tbe working of such q business ate exceedingly remunerative, and ns an evidence of this the Vendors guarantee that the profits of the Company during its first two years of working will pay a clear dividend to each shareholder of 10 per cent, per annum. 9. Tbe magnitude of the demand for tbe manufactures of the Company is shown by the fact that orders are daily increasing in all departments, while the combination of the two businesses not only lessens t.he competition, but greatly diminishes working expenses. Mr Tyer will undertake the responsible office of Managing Director for at least two years, I which - is io itself a guarantee of the continuance of that careful and efficient management which has raised his tannery to tbe first rank amongst colonial Industries, 10. Tbq importance of an industry of this kind to the City and District of Wellington I can hardly be over-estimated. The development of the large Meat Export Companies i renders it necessary to provide local buyers for : their increasing supplies of bides ami sheep- | skins, and tbe natural outcome of this is, the consolidation and expansion of existing tanneries. While the proprietors of New Zealand tanneries are able to produce leather of a quality unsurpassed iu the world, yet the people of the colony, during the last two years, have paid nearly half a million of money for imported boots and shoes ; the imp' ll ’*’ 9 for that period having amounted to £364,523, to which sum must ha added costs of shipment, duty, and sellers' profits, These {acta point to the necessit ; existing for the establishment j of boot and shoe factories and other leather manufacturing establishments, and to the profitable field of employment in such factories for a large amount of capital. 31. That the City of Wellington, from its geographical position and consequent facilities for distribution, presents the best openings for manufacturing enterprise in the colony cannot be doubted. It becomes, therefore, a patriotic duty on the people of Wellington to foster and encourage every local industry like that proposed by the Company, which not only furnishes employment to a large number of artisans and young people of both sexes, but gives an assured return on the capital invested. 12. The Company will be registered when GOOD shares are subscribed, and commence business when 6000 shares have been allotted. In the event of the Company not being regia, tered, the whole of the application moneys will be returned in full, without deduction for expenses. 13. The proposed Memorandum and Articles of Association, and the agreements between the Vendors and Mr Ilobert WUberfoss, as acting for the Company, can be seen on application to Messrs Isard and Bell, Scdicitors, Willia,street, and to Messrs Brandon and Sou, Soiioltors, Neatherston-street.

14. All deposits no applications for shares are payable to the credit of The Wellington Leather Manufacturing Company of New Zealand (Limited)," at the Bank of New Zealand, Te Ato, Wellington, or at any of the branches of the Hgnk of New Zealand, 15. Forms of application for shares may he obtained and shares applied for at the offices of Mr D. if. Stuart, and Messrs Arthur Wa;-