Page 7 Advertisements Column 4

Otago Daily Times, Issue 18544, 3 May 1922, Page 7

late advertisements. INVESTMENT SHARES. rpHE PETROUS TILE COMPANY (LTD.), DUNEDIN. Manufacturers of , Concrete Roofing Tiles, etc. ISSUE OF 4500 ORDINARY SHARES OF £1 EACH For the purpose of establishing a Manufacturing Branch in Wellington. PRESENT CAPITAL; Authorised, £IO,OOO. Actual paid up, £4469 7s 6d. DIRECTORS: ADAM PATERSON, ESQ., of Peterson and Barr. E. J. P. DENNY. ESQ., of Swift and Co. J. G. H. BRIGGS, ESQ., of the Standard Brewery. Manager and Secretary: Hugh B. Murray. Auditors: Messrs Barr, Leary, and 00. Bankers: Bank of Australasia. Solicitors: White and Ramsay, 7 Liverpool street. APPLICATIONS WILL BE RECEIVED BY ANY MEMBER OF THE STOCK EXCHANGES DUNEDIN, CHRISTCHURCH, WELLINGTON, INVERCARGILL This Company has been manufacluringing concrete roofing tiles at Caversham, Dunedin, for the past two years, and has made quite a success of the business, snowing during the first financial year—for nine months actual trading operations a pront of 10 per cent., and during thenast financial year 15 per ccnt.,_ after making ample allowance for Income Tax and Depreciation of Plant and Buildings, and in addition writing Stock down 16 per cent, below manufactured cost. The Company is now desirious of raising further Capital to the above amount for the purpose of opening a manufacturing Branch in Wellington, where conditions are especially attractive for a Company such as this manufacturing a really good I‘oollng tile. In that town, the amount of building per annum can be safely computed as at least three times that of Dunedin, and the price of roofing, tiles is nearly 30 per cent, higher—being £1 10s dearer per square (100 so ft) fixed -on the roof than the Dunedin price. This difference in price is no doubt _ chiefly accounted for by the fact that all tiles at present used in Wellington ate imparted, whereas Doth clay and concrete tiles are manufactured locally in Dunedin. As manufacturing costs in Wellington are going to be little, if any, higher than in Dunedin, it is evident that any increase in the*) celling price of the Company s material is practically all extra profit, and, as an illustration of what this means, the following figures are very striking:— Last financial year the Company made a profit of £590 tiling fifty odd roofs. Call this fifty roofs at an average of twenty-two squares each, which equals a total of 1100 squares. Had Wellington prices been obtained in Dunedin, the Company would have got another 30s per square on this 1100 squares, equal to £1650, in addition to the £590 actually made, or a total profit of £2240 (less Income Tax on the additional; profit), on a Capital 1 of £4469 7s 6d. In addition to the better prices prevailing in Wellington, another factor helping towards belter profits in that town is the fact that it is only reasonable to anticipate a, much larger turnover of business there than can ever be hoped for in Dunedin, owing to the much more rapid growth of the northern town. As indicating the shortage of residences in Wellington, the following news item published in the Dunedin Star.of March 25, 1922, is of interest; —“It is recorded that one day 'last week there were 400*applicants for the right to rent a five-roomed house which was advertised in Wellington.” s WHAT LEADING DUNEDIN ARCHITECTS THINK OF PETROUS TILES. The Manager Petrous Tile Company, Caversham, Dunedin. Dear Sir,—rFor several residences for which plans have been prepared by this Office, Petrous Tiles have been specified for the roofs, and we have pleasure in saying without hesitation that in every instance these Tiles have proved highly satisfactory in all respects. Their present high standard being maintained is, we are confident, sufficient to assure them their duo maximum of success in the future. Yours faithfully, Anscombe and Associates, Architects, (Signed) Edmund Ansoonibe. ' March 15, 1922. The Manager Petrous Tile Company, Dunedin; Dear Sir, —It is now just over twelve months since I had Petrous Tiles laid on the- roof of my residence, Anderson’s Bay, Dunedin. During this time the roof has given every satisfaction under all conditions. I may say that I shall have no hesitation in again specifying Petrous Tilee as occasion demands. Yours, faithfully, (Signed) H. McDowell Smith, r.N.z.i.A. March 8, 1922. Mr Murray, Manager Petrouo Tilo Company, Caversham, Dunedin. Dear Sir,-4-In answer to your enquiry re Petrous Tile Roof \on residence recently erected under our supervision, we have pleasure in stating that this roof has proved perfectly satisfactory. Youth truly, (Signed) Salmond and Vanes, Architects. . March 9, H. B. Murray, Esq., Manager Petrous Tile Company, Caversham. Dear Sir,—l have very much 'pleasure in certifying to the quality of your tiles. 1 have used them' on one of my largest and most expensive residences, and found them very satisfactory, and would have no hesitation in specifying them at any time. Yours faithfully, (Signed) William H. Dunning, a.n.z.i.a. March 11, 1922. , The Manager Petrous Tile Company, Dunedin. Dear Sir, 41 -! have used your Petrous Tiles on several buildings, and in every case they have given the greatest satisfaction —in tightness, standing quality, and colour. March 35, Yours faithfully, (Signed) E. W. Walden, Architect. 1922. j. All things considered, the Directors and Management feel that they can, with confidence, recommend this proposition to both their present shareholders and the general public as one that, as the foregoing particulars show, gives every promise of returning handsome dividends to shareholders. / It may be pointed out that any non-shareholders now subscribing for Shares are getting the benefit of undivided profits to the amount of £644, equal to 7 per cent on a capital of dt;9000. ■ Terms of subscription are very easy—Two Shillings on application, Two'Shillings on allotment, and the balance in calls of not more than Eighteen Pence 'per Shore, at intervals of not leas than one calendar month. Applications for a less number than 29 Shares will not be considered. Should the full number of Shares now offered be subscribed for, it may not be necessary to call up the full amount per 'Share. No allotment will'be made until 2000 new Shares have been applied for.. As present shareholders are already -subscribing for a considerable number of Shares in this new issue, non-shareholders desiring Shares are requested to make early application, and thereby avoid possible disappointment, as, in the event of over-subscription, priority, of application will be taken into consideration. Any further particulars desired wjll bo gladly furnished on application to the Company s Secretary. Applications may b© forwarded, along with amount of “apnlioation” money equal to 2s per Share, to the Secretary of the Company, Caversham, Dunedin, or to any Member of the Stock Exchanges Dunedin, Christchurch, Wellington, Invercargill; or any Branch of the Bank of Australasia. 1 PETROUS TILE COMPANY (LIMITED) CAVERSHAM, DUNEDIN. K A I T A N G A T A GOAL DECLARES WAR Against THE HIGH COST OF L IV I N G By REDUCING THE PRICE To DUNEDIN COAL MERCHANTS From FIRST OF MAY By 10/- PER TO N. KAITANGATA COAL Can be obtained from ALL COAL MERCHANTS, Who will give you I THE FULL BENEFIT Of This TREMENDOUS REDUCTION. RISK TIME AND LABOUEP USE' KIWI TRAPS, Which never fail to Which never tail to OATOH THE RABBIT. Obtainable from Storekeepers, or from THOMSON, BRIDGBE, k CO. (LTD.), So£e IMPORTERS, fJTRUST MONEY FOR INVESTMENT. ASLIN. BROWN, k COLE, Solicitors, N.Z. Express Go. Buildings, Band street. NOT SANDY old when bottled. Something New—Something Old: MAO. Guaranteed 10 year* OTAGO WITNESS.—New Stories. A large amount of reading matter. Pries, W,