Page 8 Advertisements Column 2

Otago Daily Times, Issue 18463, 26 January 1922, Page 8

Free of tax, issued by Macdonald & Co Careful investors who have been chary of investing during the prevailing depression will be quick to appreciate the splendid rate of interest and mortgage secunty offered by this issue of £75,000 Debentures. The small investor, as well as the large, may subscribe, as the Debentures are being lulled in sums Issue Security Supporting the £395,715 The Debentures will be secured on the Assets of the Company as follows *— ' • / Freehold Land and Buildings At— Christchurch, valued at ... £3!,763 Palmerston North, valued at ... . 6,320 Hawera, valued at Hastings, valued at ... Penrose (Auckland) valued at POINTS FROM PROSPECTUS. Profits Ample to Meet Interest 3,700 5,335 17.727 Interest —lnterest is per annum payable Ist June and Ist December in each year, free of Debenture Tax, up toi 3/-in £. Term —The Debentures are'repayable on Ist June, 1932, the currency beingl slightly over 10 years. Dividends paid without a break since 1899. Lets Mortgages. Leaving at Surplus of Plant aod Machinery ... Stock of Manufactured Goods and Raw Materials Book Debts ... ... Shares in Other Companies, &c, 64,845 17.375 Bearer Debentures —The Debentures will be payable to Bearer and trahsferable like Bank Notes. ' * 47,470 64,015 164.362 113,581 6,287 £395.715 Increase in Assets. The following figures show how the Assets bave increased during the 6 years 11 Months ended. Nov. 30,-1921 Freehold Property. Total Assets. The security offered for the .present issue of £75,666 is £395,715 (or over £5 for every £1 invested —or nearly twice the, value, of : the whole series; of Oebentaipa, viz.; £200,. 000. £125,000 is being held in reserve, ■ 1921 1914 £64,845 21,246 1921 1914 £395,715 132,946 HOW TO APPLY —Applications will bereceived at any Branch ofthi Bank of Australia, Ltd., at any Branch Office of the Company, by any member of die Stock Exchange, or by the Company’s Brokers, Newburgh, Best & Co., Christchurch, or at the Company’s Head Office, Christchurch, . . i ■ During the period of the Company's existence it has paid out £109,707 in besides making certain distributions of bonus abases, and providing about £60,000 for depreciation of Plant, Buildings, Reserves. That the business is spund end psoyessive is-shown by . the fact that the annual turnover has increased nearly eight-fold, and the net profits ten-fold during the same-period. 1900 Nett Salei £29,760 1905'- 60,805 1910 „ 80,812 ' 1915? .. 108.857 1920 - 227,622 The final , figures (or 192) are net yet available, but the sals* for the II months ended November, 1920. totalled £188,140, and loir the same period in 1921, £203,776, so that it is fair to presume the totaLfor the latter year will exceed those for 1920. Profits £l£os „ 4.248 „ 6,026 „ 9.033 16.638 Increase £42.599 Increase £262,769 TELEGRAPHIC APPLICATIONS ? Purpose of Issue. The proceeds of this Issue will be devoted to the provision of buildings, machinery, equipment, stocks and working capital for the Penrose' (Auckland) factory (estimated at £50,000); improvements at, Invercargill and Christchurch,’ etc. The Northern Provinces are developing amazingly and there is no reason- to doubt but that the investment at Penrose will yield a handsome profit. —ln view of the early oversubscription of recent Deben- , ture and Bond Issues, it is anticipated that these Debentufes will be quickly taken up. Arrangement* have been made for telegraphic applications received in order that distant investors may not be ; ‘ disappointed Apply to-day i For further particulars apply to us ACDONALD & Co. Ltd. Head Office: Christchurch. Works : Christchurch, Penrose, Invercargill. Distributing Branches: Auckland, Hamilton, Gisborne, Hastings, Palmerston North, New Plymouth, Maaterton, Ashburton, Timaru. Dunedin. Invercargill. APPLICATION FOR DEBENTURES THE DIRECTORS, BOOTH, MACDONALD & COMPANY, LIMITED. Christchurch. Kindly allot mejat Mortgage Debentures of £ .......each, hading acarrency of. ..........years, in terms of Prospectus dated 10th Jari., 1922. IjWe 'enclose cheque for £ .....in fdlllpari settlement. II We agree to pay the balance..... Feitt. Name , Occupation Address...... Usual Signature., Notes Debentures cure issued tn £BS, £SO. CIOO donominatioa

A Pulsator to suit each Cow! TOUm €» i variable Pulsator for Th« principal feature of any milking plant i« the Pulsator. The New Variable Pulsator is a unique advantage with the “Auto” Milking Plant, There is each unit supplied ; a six-cow “Auto” plant has six Pulsators: a four-cow has'four Puisators andsoon. The Pulsator can be regulated' to suit each cow according to whether it is a hard or easy milker. No other plant has a variable Pulsator, and it is manifest that to be able to quickly adjust a machine to suit every kind of cow miist conduce to better milking resnlts. The "Auto". Milking Machine is most economical, efficient, and sanitary. Let us send you full particulars. John Chambers & Son, Ltd. DUNEDIN MILKING MACHINE thttieVariable Puleatov 0 » Wl

3i As You Travel odak The innumerable picture-oppor-tunities that present themselves to the traveller serve to emphasize the immediate pleasures of using a Kodak. And in time to come your album of snapshots will be one of your greatest treasures. There is a Kodak to suit every purse and every purpose, ranging from the convenient little V.P.K. at 55/-, up to the 3a Special at £l9/15/—and all are Autographic. OF ALL KODAK DEALERS and Wh»!«<«!» Kodak (Australasia) Pty. Ltd. Auckland Wellington Christchurch / Dunedin