Page 7 Advertisements Column 2

New Zealand Times, Volume LXX, Issue 3827, 24 August 1899, Page 7

SUBSCRIPTION LISTS OPEN ON SATURDAY, 19th AUGUST, AND CLOSE SIMULTANEOUSLY IN ALL THE COLONIES ON MONDAY', 28th AUGUST. DUNLOP PNEUMATIC TYRE COMPANY OF AUSTRALASIA (L I M I T E D). (To be incorporated in Victoria under the Companies Acts.) CAPITAL .£170,000, DIVIDED INTO (a) 80,000 7 per. cent. Fixed Cumulative Preference Shares of ATI each, fully paid. , (Now offered to the Public.) , (b) .20,000 7i per .cent., Deferred Non-cumulativo Preference Shares of £1 each, .. fully paid. ■ (Reserved for the Vendor ,in part payment of purchase.) (c) 70,000 Ordinary Shares of £1 each, fulß' jiaid, the dividend on which is not to exceed 9 per cent, in any year. (Reserved for the Vendor in part payment of purchase.) ISSUE OF 80,000 7 PER CENT. CUMULATIVE PREFERENCE SHARES OP £1 EACH. . TO BE FULLY PAID UP. THESE SHIRES will be PREFERENTIAL AS TO CAPITAL. They will also be i entitled to a fixed Cumulative Preferential Dividend of 7 per cent, per annum, parable half-yearly, and will be entitled to participate pro rata with the Deferred Stock in all dividends declared in any year afterpayment of a dividend of 9 percent. 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 Mortgage 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 sha res present personally or by proxy fit a Meeting to be specially convened for the purpose. PROVISION will also be made in the Company’s-' Articles' for Alia creation -of aReserve Fund of £40,000 for the further benefit of-these Shares; and one--fourth of the net profits in each year, after payment of the dividends on tho , i Fixed Preferential and Deferred Preferential Shares, will bo placed to . the i ' .credit of this Fqnck, - , .. , „ . , Tlid Dividend on’ these 1 Shares will be paid Free of Exchange at the Bank of Australasia at Melbourne. Sydney, Adelaide, Brisbane, Perth; and Christi church and Auckland, New Zealand. SUBSCRIPTION for the above 80,000 Shares of £1 each is now invited, payable i as follows: —2s 6d per Share on Application; Balance on Allotment. | NOTE. Upon payment of tho 20s (twenty shillings) per Share as above mentioned, no" further, liability whatever will attach to these Shares, and an Official Certificate'to that effect will then-be issued by the Company. The Whole of this Issue of 80,000 Shares has been Underwritten. DIRECTORS: The following gentlemen have agreed to join the Directorate: The Hon NICHOLAS FITZGERALD, M.L.C., Melbourne (Chairman of the National Trustees, Executors ami Agency Co. of Australasia, Ltd.). JOHN GRICE, Esq., Melbourne (Director of the National Bank of Australasia, VALENTINE J. SADDLE. -, EBq.,Melbourne ' (Messrs Baxter and Saddler, COn £uS#F. G. HUGHES, 393. Collins street. Melbourne. 3 °Z.^G N T X E, Esq., Sydney (General Manager for Australia of the Mutual Life Insurance Company of New York). j . , ~ , It io proposed that the Articles of Association of the Company snail provide that the qualification of each Director shall be 300 of the Fixed Cumulative Preference Shares, and each of the above-named gentlemen has agreed to take up such Qualifica-tion-Shares. ! , ; , ' ■’ BANKERS: ,N- -1 - ■- ' - f THE BANK OF AUSTRALASIA. I SOLICITORS: . MESSRS MOULE, HAMILTON, AND KIDDLE, Market street, Melbourne. •JAMES 9, GrEETi’ STxiiijET BROKER : ■HENDERSON, ; : WELLINGTON. rjuus P R O S P E C T U S. o'. ■ .S COM’PANT is being formed-to hcquire as a-going concern and Miry' on the well-known business.m-'Aiistralaski of THE DDNLOP PNEUiuAIIC TYRE COMPANY' (AUSTRALASIA), LIMITED, together with .its Goodwill (including Trade Marks and Trade Name);- Pat out' Rights, Leases, Plant and Furniture in Aimtralasia; ■ and an Agreement has been, entered into securing to this Company ilie exclusive rights throughout Australasia'for all Inventions and Patent Pneumatic Tyres that may hereafter belong to aHE DUNLOP InEOMATIC TYRE COMPANY LIMITED, of England, at, cost price, and special facilities are also given to this Company in regard to tho purchase of raw material for the manufacture ~0l Tyres. The English Dunlop Company has (agreed not to compete with this Compare, in Australasia, thereby securing to -his Company thes exclusive sales otthe celebrated DUNLOP CYCLE TYRES, and also of thcDoNLOP CARIMAuE 1 YREb. ' Tho Australasian business was formed by the world-tamed DUNLOP PNEUMATIC TYRE COMP ALT Y,, of England, in tho year 1833. The net profits tor Lop Australasian busineess for the last year have been greater than for any previous year, and amounted to .£14,707 19s lid, and Ine sales of Tyres in Australasia for the same year numbered 55,509. The 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) ai Sydney,- Adelaide, Brisbane, Perth and Christchurch, New Zealand. , Tho business of The Dunlop Pneum.-tio Tyre Company (Australasia), Limited will bo taken over bv this Company ae a going concern from the Ist day of August, 1899, and the Company will have the benefit of all profits from that date. The accounts of the Australasian business have been submitted to the well-known accountant. rnomas Brentnall Eso F I A.V. • who has given tho 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:—r '‘424, Chancery Lane, ■ "Melbourne, 20th July, 1899. . ••MESSRS MOULE, HAMILTON AND KIDDLE, "Solicitors, Melbourne. •'GEOTLEMNN.T-i hkve'oxainined the Accounts of the DDNLOP PNEUMATIC TYRE COMPANY (AUSTRALASIA). LIMITED, for-the Two Years.. <pfled 3ist January 1839, and beg to report as follows; — , , . "The Sales for the year ended 31st January, 1898, amounted to £79,029 <s lOd, and for the year ended 31st January, 1899, io £91,871 Os lid, being an average of.£Bj,Boo fv'rhe-Net-Profit for the same periods .was £11,975 Ss Sd and'£l4,7o7 19s lid respectively; ' being fin average of £13,341 14s Id per annum, and equal to over 15 per cent, iter annum on the net sales. ‘ ' ', .' , ’■ ’ , ‘.'The total Sales .for the Six Months ended SOth -June,.1899, have reached- £4b,bsi Is sd, as .compared with, £44,296 /s Id for the corresponding period-of 1838.. a, VThe number of tyres'sold-during the last financial‘ year amounted to £00,569.-. "The business is, practically, worked on a cash basis, the bad debts for the two years-under revieWirepresenting less chan (15s) fifteen' shillings per cent, upon lue turnover for the; whole'; period., . , .. , , , . "Tho above figures speak for themselves-as-to the magnitude, and sounoness oi the business,of the Company. ; .k i,, .. ... ..... 1.:..-;; . VI am. Gentlemen, yous faithfully, j t.v-.! "THOS. BBENTNALLvF.I.A.V.’’ OVBR- ; '- ! In addition to' this.'it wilFbe noticed from tne certificate that tho sales of the Dunlop Tyres for the present year exceed the sales for the corresponding montns . .The recent reductions on the cost of Cycles have brought them into uni\crsal use, and they Ore nov/regarded in almost •■■very household m a practical necessity, and there can bo no doubt that the demand for- TYRiib will continue to increase each year. It is intended to further extend the scope of the Dusinoss by •iitiodueing into these colonies the DUNLOP PNEUMATIC CARRIAGE TYRES, whicn are now so extensively Vised throughout Europe and America. . . , 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 Ti’ifde Marks and Trade Names of this business. „■ r n Tho Vendor and Promoter, Richard Garland, Esq., Managing Director of the Dunlot>'-Tw» Company,- Limited, Toronto, Canada, has fixed the total purchase nrice at £l3s.ooo,'and has included 1 the Trade Marks and Trade Names, as well as the Benefit of tha valuable contract obtained from the English Dunlop Pneumatic Tvre Comnanv, Limited, as part of the goodwill of the business sold to this Company and has apportioned the value thereof at £125,000. Out of the total purchase price bnlv £45 000 is payable in cash, the balanc thereof being represented by the said deferred’Preferonce Shares'and the ordinar Shares. The Company will commence business FREE FROM DEBT, and with a Working Capital of £30,000 (less only the usual brokers’ commission.of sixpence.per share) s'anding to its credit, which will be -ample for all -purposes, and will enable it to carry on its business on best cash liiisiness willlbo carried 1 on withon interruption, upon the lines have proved- so .'successful iu the. past, AND AS TH'I HEAD OFF.CL Or TH U COaI PANT WILL NOW BE IN AUSTRALIA instead of in England, as heretofore, it is antxdipated. that the'business will .be'carried on to better advantage than ever. The Contract Tor Sale’arid Purcliass.iS'dated 10th. August, 1899, and is made between the said Richard Garland of-the'one port, and Frederick Arthur Moule. Esq., of Market street, Melbourne, Solicitor,!, a Trustee for the Company, of the other narl 11 and- 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 15thday of May, 1899. The Vendor and Promoter will bear all cost in relation to the formation of the 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 a ill be the usual brokerage of sixpence per share on the Preference Shares subscribed for by the said contracts' and Mr Brentnall’s Certificate above referred to, and the proposed Memorandum and Articles of Association of the Company, may be inspected at the Office, of the! Solicitors to the Company. Applications for Shares must be made in the printed form, and sent to one of the Company’s Brokers, with a cheque for the amount payable on Application. Where no Allotment is made the deposit will be refunded in full, and where 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 m order of priority of application. '’ ( , ‘ • _ , ■’. ' v Prospectuses and Forms of Application can be obtained from the Brokers ot the Comnany. or at the Offices of the Bankers or Solicitors of the Company. Dated this 19th day of August. 1899.