Page 7 Advertisements Column 3

New Zealand Times, Volume XLVII, Issue 10955, 18 July 1921, Page 7

8 Issue of Mortgage Debentures X In Sums of £SO and Multiples thereof* CURRENCY: TEN YEARS. The Wellington Gas Company Ltd. Security behind the £330,000 Issue con- * sists of first-class assets, the concrete assets alone having a value of upwards of £530,000 —more than twice the amount, s of the Loan (£230,000) now offered for public subscription . o With Growth of Wellington Gas Co. , The Wellington Gas Company was established in the year 1869, that is 52 years 056, and Its history has been one of constant progress. Wellington was then a very small community of about 8,000 persons. The population of to-day is 100,000 and is increasing steadily. In 1869 the Company was incorporated with a share capital of £ 10,000. At die pjesent tiip£ the authorised capital Stands at the figure of £550.000. ' ... , In respedt of gas consumption, in 1880 the sale of gas was 37,000,000 cubic fefet; in 1890 it was 65,000,000 cubic feet; in 1900, 110,000,000 cubit feet; in 1910,. 280,000,000 ; and in 1920 it was cubic feet. PURPOSE OF ISSUE. The purpose of the issue of the present 8% Mortgage Debenture Stock is to provide money lor extension of plant at the Gas Works and Manufactories at Miratnar, the construction of additional Work Shops, 'the extensions of mains and services generally, and particularly to provide gas for adjoining suburbs that do not yet possess this convenience. 8 per cent, with Safety! The present issue of Stock is secured by a Mortgage Debenture Stock Tru& Deed, in which die Guardian Truft and Executors Company of New Zealand Limited is appointed TVvflee for the Stockholders, and die &ock is further secured by a floating charge on the general assets of the Company. .. The Guardian Tru& and Executors Company of New Zealand Limited will further diold 35 debentures of £ 10,000 each front the Company in support o&he TruSt Deed and to secure the Uotb holders. The assets referred to and over which die Stockholders w 9 have security, consist of valuable freehold property in the City of Wellington and at Miramar, whereon are erected the Showroom* Said Offices of the Company, and the extensive Works and Manufactories of the Company, plant, machinery, services, stocks, moneys due. Government War Loan Stock, shares in Other companies, of a total value of upwards of £550,000. The last Balance Sheet of the Company as at the 31st December, 1920, shows assets amounting to §555,745 18s. 2d. The money to be raised now is to be mainly expended in the aquisition of further plant and services, and dm assets will therefore be very Substantially increased. Board of Directors C. PRENDERGAST KNIGHT. I.LP. Barrister (Chairman) H. BEAUCH AMP. Chairman of Dimeters, W. M. Bannatyn* & Co.. LfccL G. FITZGERALD, Cm! Engineer. G.F. PEARCE. Director, Levin & Co. Ltd. A. L, WARBURTON, of Arthur Woibun ton & Co. Get the Prospectus To-day and learn full particulars of this attractive and solid investment, which offers you 8 per cent, per annum with first-class mortgage security. Particulars of Debentures These 8% Mortgage Debentures are in sums of £SO, and multiples thereof. Interest at 8 per cent, per annuip, will be paid half-yearly. Applications for Prospectus or Debentures will be received by the Bank of New Zealand, any member of the Stock Exchange, or at the Company’s Office. Apply Promptly! The Future of Gas World-wide experience proves that the ‘development of electricity and the growth of Gas-c6nsumption go together. In Wellington, for instance, the consumption of Gas has increased seven-fold since the introduction of electricity, in 1890. In that year, the consumption was 65 million cubic feet; during last year, 1920, it was 466 million cubic feet. ,» , Evidence from Canada, Sweden and other countries where hydro-electricity is abundant and cheap, proves the same tendency,* and shows that Gas has so many unique advantages that it cannot be economically replaced. The future of the Gas Industry is a sure one. The Wellington Gas Company Ltd., Wellington TO ENQUIRIES CONCERNING MORTGAGE DEBENTURES: A SPECIAL REPRESENTATIVE OP* THE WELLINGTON GAS COMPANY, LTD., WILL BE IN ATTENDANCE AT THE GAS COMPANY'S OFFICES 64, COURTENAY PLACE, WELLINGTON, TO GIVE FULL INFORMATION TO ALL ENQUIRERS, RELATIVE TO THE 8 PER CENT. MORTGAGE DEBENTURES MENTIONED ABOVE.

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