Page 16 Advertisements Column 1

Otago Witness, Issue 3511, 28 June 1921, Page 16

Interest on these Debentures is Payable Free ©f Debenture Tax. The finest Investment ever Offered in New Zealand! Security of SJ2, for Every £1 ISSUE OF 1 2 MORTGAGE DEBENTURES *so—* lOO—*soo—£ 1000 Guaranteed Currency of TEN years. The Gisborne Sheepfarmers’ .Frozen Meat & Mercantile Co., Limited. Extra Capital Wanted for Progress and Expansion Growth of Gisborne and its Pioneer Farmers’ Company The Gisborne Sheepfarmers’ Frozen Meat & Mercantile Co., Ltd., was formed 19 years ago, and has had an extremely successful career. It has made steady and consistent progress, and it now possesses Freezing Works at Gisborne, Tokomaru Bay, aftd Hick’s Bay ■—the former being one of the largest plants in New Zealand. Early this year the Company’s nominal Capital was increased from to By reason of the recent acquisition of other concerns, it is anticipated that the issued Capital of the Company will be approximately as follows : SUBSCRIBED CAPITAL £637,136 PAID-UP CAPITAL - £395,754-10-0 Since the Company’s formation it has distributed amongst shareholders, paid rebates amounting to Reserves amounting to are now being distributed as share capital. Its average rate of dividend has amounted to 64% per annum although the primary object has not been to make profit but to safeguard producers’ interests. SECURITY OF £615,263-4-4 The present Debenture Issue will be secured by first mortgage to Trustees (The N.Z. Insurance Co., Ltd., Auckland) of the freehold and leasehold properties and plant of the Company, the value of which reaches That is over £2 for every £\ that is invited from investors —a very full margin of cover. PARTICULARS OF DEBENTURES One of the wealthiest parts of the Dominion is the district served by the port of Gisborne, and by its pioneer Farmers’ Company, which has freezing works at Gisborne, Tokomaru Bay, and Hick’s Bay. The number of sheep in the counties served by the Company last year was 2,885,528. The following table shows the number of killings at Gisborne Works :—- 1904- 5—191,791. 1914-15—381,820. 1909-10—344,039 1919-20—474,978. These works provide the largest storage capacity of any single factory in New Zealand —422,000 carcases. They rank among the best equipped and most efficient in the Dominion. The main portion of the Company’s business is with the killing and freezing of meat. It operates on clients’ account only, and does not purchase on its own behalf. The capacity of the company’s plants is as follows: —• Factory —Gisborne— Sheep, 4,000 Storage —Frt. Carcases, 422,000 Tokomaru Bay ~ 3,000 ~ „ 135,000 Hick’s Bay „ 1,200 „ „ 60,000 The following figures reveal tire growth of the Mercantile Branch of the Company : b/wool hides skins 1918- —Company handled 9,923 205 9,566 1919- „ ' „ 13,085 5,081 14,462 Exports from Gisborne—yearly average of quinquennial period : 1896-1900 " ' 1906-1910 1915-1920 £347,603 £992,554 £2,144,566 The above figures are a criterion of the future growth that may be confidently expected by the Company. The Debentures are in sums of £SO, £IOO, £SOO, and £IOOO, payable in full or instalments, at option of applicant. Interest at the rate of 7?> per cent, per annum will be paid half-yearly. The Debentures will be to bearer, with interest coupons attached, and are payable in TEN YEARS Full details in Prospectus— get your copy to-day, from the Bank of New Zealand or any member of the Stock Exchange, or from the Company’s .Broker, Mr. W. Lissant Clayton, Gisborne. The £300,000 Issue is secured by first mortgage of properties and plant valued at £615,263. GET THE PROSPECTUS. DIRECTORS OF COMPANY Frank Brayton Barker Alexander Cameron John Clark Frederick Hall Howard Kenway Cecil A. de Lautour Harry dr Lautour James Whey Nolan George M. Reynolds Henry Williams Get Prospectus to-day and learn full particulars of this Sound Investment. The Gisborne Sheepfarmers’ Frozen Meat & Mercantile Co., Ltd GISBORNE 1