Page 26 Advertisements Column 1

Otago Witness, Issue 3714, 19 May 1925, Page 26

THE NEW ZEALAND GUARANTEE Corporation, Limited CAPITAL - £500,000 ISSUE OF INCREASE OF CAPITAL 150,000 &1 ORDINARY SHARES Pioneer Invest your money in a Company of assured standing. The New Zealand Guarantee Corporation Limited is the pioneer organization in New ZealCompOny and to finance credit sales of motor vehicles. It was successful from the very start, and its position lias been steadily growing stronger. The present offering of 1 50,000 Shares is portion of a new issue of 200,000 Ordinary Shares, 50,000 of which were issued to Shareholders, and were largely over-subscribed—over 90,000 having been applied for. Before the Prospectus was issued, reservations of over 20,000 shares were also made by the public. The balance of the 1 50,000 Ordinary Shares are now offered to the public at a premium of 2/- per share on which there will be payable 2/per share on application and 4/- per share on allotment (which includes 2/- premium). The balance will be payable at such time or times as the same may be called up, but no call will be made of more than 2/- per share; no call will be made payable before the Ist day of September, 1925, and there will be an interval of at least 3 calendar months between calls. It is anticipated that the shares will not be called up to more than 8/- or 10/-, including the premium. Great Success Future Prospects The Corporation commenced operation in August, 1923, and the business transacted has been profitable and up to expectations. There have been no losses of any kind. The Preference Shareholders were paid a dividend at the rate of £7 per cent, per annum to 31st August, 1924, and an interim dividend at the same rate to 28th February, 1925. The Ordinary Shareholders were paid a dividend at the rate of £8 per cent, on the amounts paid up on Ordinary Shares to 31st August, 1924 (the end of the Corporation’s first financial year), and the sum of £2,746 2s. 2d. was carried forward into the current year’s accounts. A half-yearly dividend to 28th February last, at the rate of £8 per cent, per annum, has been declared and paid on Ordinary capital. The volume of business transacted by the Corporation now approaches the half-million mark, and the proceeds of the present issue can be profitably employed. The net ascertained profit standing to the credit of Profit and Loss Account at the end of the half-year ended 28th February last is £12,455 Is. 7d. This sum does not take into account income from loans falling due beyond that date, amounting to £8,850 16s. Bd. The business of the Corporation continues to increase very considerably and satisfactorily, and the Directors anticipate being in a position to recommend the payment, from the profits earned during the current year, of a further dividend at the rate of not less than £8 per cent, per annum fin Ordinary capital, in addition to continuing the payment of a dividend of £7 per cent, on the Preference shares, and placing a considerable sum to Reserves. The expenses of administration are well within original estimates. The Corporation is thoroughly established throughout the Dominion. The number af shares held by the Directors and the Manager, who all took up their full quota in the recent issues, now totals 33,455. Future prospects may be said to be distinctly encouraging. A large proportion of the business already transacted extends up to 1927, and the interest accruing on loans repayable in the future already amounts to a large sum. The Corporation enjoys the hearty approval and support of the New Zealand Motor Trade Association, and a large number of Motor Traders throughout the Dominion are Shareholders. Method of Operation Directors: The Right Honourable SIR JOSEPH WARD, P.C., Bart., (Chairman). Messrs. SIDNEY KIRKCALDIE, T. M. WILFORD, HOPEFUL BARNES GIBBONS, GODFREY WILLIAM MAGNUS, WILL APPLETON, W. STUART WILSON. Manager i FRANK H. TAYLOR, 13 Grey St., Wellington. Bunkers: BANK OF NEW SOUTH WALES. Auditors: WATKINS, HULL, HUNT & WHEELER, Johnston Street, Wellington. Solicitors: P. M. FINDLAY A MOIR. 215-217 Lambton Quay, Wellington. Brokers: v W. N. GAMBLE. Auckland; W. A. OTT A CO., LTD., Invercargill; FENWICK BROS., Dunedin; CAYGILL, NEWBURGH A CO., Christchurch. And other Members of affiliated Stock Exchanges of Afqw Zealand. Organising Broker: A. M. ADAMS. Wellington. For the benefit of those investors who are not already acquainted with the methods of the Corporation, the operations summarised are:— * (a) Providing Credit accommodation for accredited Distributors of Motor Vehicles, etc., within the Dominion. (b) Assisting approved individuals to purchase. (c) Generally speaking, to supplement existing Banking facilities. The Corporation will have no interest in any make of vehicle, etc. It is not concerned with any particular manufacturer, and deals only through the Agent or Distributor. The purchaser pays a substantial portion of the purchase price in cash, and gives an obligation for the remainder to be paid in regular instalments. The price paid is the cash price, plus the Corporation’s charge for investigation, interest and collection. The purchaser also meets the Insurance charges. A lien is retained on the property until payment is made. The dealer endorses the notes of the purchaser, which are bought by the Corporation, if independent investigation proves the credit to be warranted. From the foregoing, it will be obvious that immediate action is necessary if you wish to secure shares. Apply to-day for Prospectuses and forms of application, obtainable at the office of the Company or from any branch of the Bank of New South Wales, or from any member of the affiliated Stock Exchanges in the Dominion, or from any of the* Company’s representatives. Applicationt will bm dealt with in order of receipt, and in view of the attractive natare of the investment it it anticipated that the wholm of tho issue will be qaichly taken ap.