AUSTRALIA BEATEN

New Zealand Times, Volume XLVI, Issue 10639, 12 July 1920, Page 8

AUSTRALIA BEATEN

THIRD LEAGUE TEST ♦ : BRILLIANT FOOTBALL IN SYDNEY. By Telegraph-Press Assn.—Copyright (Received July 11, 5.5 p.m.) July 10. The third League football test, England v, Australia, attracted. 40,Ua> people, the ashes being already won and lost. ' Both threw caution to the winds and indulged in enterprising play, sometimes bordering on recklessness. The Englishmen " appeared to great advantage. Their conjoined movements and short, sharp, swift passing bouts were a treat- to witness, and Jn marked contrast with the slower transfers of tho New South Wales backs. Hordor retired early with an injured arm, being grassed heavily alter a fino sprint down the • wing. Stone played a dazzling game for England, scoring two tine tries, ono boing the result of a race from the centre. At half-time the scores were:— Australia 8 (Thontpsin and Farnsworth tries and Bursso a goal). England 6 (Stone and iiiiton, tries). The second spell was one of exciting titbits, with many thrilling moments. Burge got a goal from a penalty. Then Hilton scored again, Rogers converting. and H'nglanu whs leading'by .11 to 10.Stono inci eased the lead witJi'a splendid try, Rogers adding the extra points. Burge broke away, and after racing fifty yards crossed the line, fringing the score to 16—13. It was still anybody's game, with the Englishmen ever threatening. Bacon registered a further try for the visitors, Rogers couvertiug. Tho latter later added a further goal, making the final scores: England t 23 Australia 13 Tho three test matches resulted:— First test. —Australia 8: England 4. Second test.—Australia 21: England 8. ' i Third test.—England 23: Australia 13. Australia thus won the aehes. HOW TO SECURE 61 PER CENT. FREE OF INCOME TAX. An investment returning 61 per cent., free of income tax, in, in thes? days, ono that must attract immediate attention. Such a satisfactory offer as thai made by tho Glaxo Manufacturing Company (N.Z.), Ltd., has rarely been placed beforo the public of New Zealand. The company is issuing £iCO,OOO, twenty-five-year-6i per cent, debenture stock to the public in sums of ,£lO and upwards, to acquire as a. going concern one of the finest busincsscß in tho Dominion, tho manufacturing department of Glaxo and milk powder products, established by Joseph Nathan and Company, Ltd v tho wellknown proprietors of these famous products. I

[ Tho debentures are free of income tax up to tho present assessment, under tho Land ami Income Tax (annual) Act, 1919, and a mortgage over freehold and .leasehold' properties, and fixed assets, amounting to £135,000, fully secures the debentures.

Joseph Nathan and Company, Ltd., have entered into an agreement with the.company to purchase tho whole of tho output of Glaxo and first-grade cream milk powder manufactured at factories operated by tho company. Under this contract, Joseph Nathan and Company, Ltd., are to pay a. sum equivalent to not lees than £7 per ton in excess of the cost price of the manufactured article, and in the cost price, all the expenses of the company are to be taken into consideration, but not interest on capital. It it? proposed to increase the capacity of the, factories to an output, of about 6000 tons, but even if tho present output of 4500 tons- were not increa?cd, tho company would still derive on the sale of its output tinder its agreement with Joseph Nathan and [Company, Ltd., a. profit, on the basis of £7 per ton, of .£31,500. As'the interest the total issue of debenture stock is only £6500, it is obvious that, apart from tho tangible assets of the company, the. holders of tho debenturo stock will have a first-class and saTe investment, with an ample margin for a satisfactory dividend.

I This is an opportunity for a safe in- | vestment that should not be missed, [and intending shareholders should obtain copies of tho prospectus and forms of application from the offices of tho company in Palmerston North, from Joseph Nathan and Company, Ltd.. Wellington, or from any branch of the Union Bank of Australia, Ltd., or from any member of tho Wellington Stock Etscliange.— Advt.