IMPORTANT COMMERCIAL ANNOUNCEMENT!

NZ Truth, Issue 817, 9 July 1921, Page 2

IMPORTANT COMMERCIAL ANNOUNCEMENT!

Issue of £250,000 Debentures,

! In a previous issue there appeared the prospectus of an issue of £250,000 m 7% per cent, debentures, free of income tax, by Macky, Logan, Caldwell, Ltd., the well-known firm of woollen manufacturer's and drapery warehousemen. The debentures are being issued m sums of £50, and are repayable m full m five years. Interest will be paid half-yearly m exchange for the coupons attached to the debentures. The issue is secured, as shown by the prospectus, by the surplus assets of the company, which exceed the amount of the issue more than three times over, so that the investor is amply protected. . , A feature of the issue Is that the Interest coupons may be cashed at any branch of the Bank of New Zealand, or at any of the company's offices, free of exchange. The abnormal financial stringency at the present time compels such high rates' of interest being paid, and , the investor with capital at his disposal Is fortunate m being able to take advantage of the opportunities which are now being presented. The business of Macky,' Logan, Caldwell, Ltd., was established m 1881, with a capital of £1500. To-day the capital of the company is over half a million, and it lias branch warehouses m every important centre m the Dominion. In addition the company operates big woollen mills at Oamaru and Timaru, also a' hosiery factory at Manawatu. During the past nine years the turnover of the -business has increased 460 per cent. Large sums have regularly been placed m reserve, and profits have been capitalised from time to time. The ability of the company to •produce its own materials places it m the strongest possible position for meeting competition, and it is safe to assume that under the capable management which has been responsible for its phenomenal growth m the past, the company is destined to play an even greater part as" the prosperity of the Dominion expands. Applications^ for the debentures are being received at all branches of the Bank of New Zealand, free of exchange, all members of the stock exchange, or they may be sent direct to the company's head office, m Auckland, or any of its branches. It is announced that already more than £60,000 of the Issue has been subscribed.

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