CO PARTNERSHIP IN BREWING INDUSTRY

Southland Times, Issue 18974, 22 June 1923, Page 6

CO PARTNERSHIP IN BREWING INDUSTRY

STOCK OFFERED TO PUBLIC. 10 PER CENT. MORTGAGE DEBENTURES. The public are now offered the opportunity of securing a financial interest in the brewing industry of the Dominion. This class of business is one of the country’s leading industries. Ten of the largest brewery businesses in the Dominion are being amalgamated under the title of New Zealand Breweries, Limited, with a total capital of £1,500,000. These firms comprise the breweries known as Speight’s, Strachan’s, McGavin’s (Dunedin), The Crown, Ward’s, Manning's (Christchurch), Staples'* (Wellington), Berry’s (Gisborne), and The Lion and Hancock’s (Auckland).

These firms have hitherto provided practically three-fourths of the total output of beer manufactured in New Zealand. Applications are now invited from the public for £1,000,000. Ten per cent. First Mortgage Debenture Stock in New Zealand Breweries, Limited. The issue is secured by a Trust Deed in favour of the New Zealand Insurance Co., Ltd., as Trustee for the Debenture Holders. The payment of interest is guaranteed for three years by the New Zealand Insurance Co., Ltd., while the Debenture Stock is secured by a mortgage on the property of the Companies concerned in the amalgamation. Interest will be payable quarterly, free of exchange and free of income tax, as provided in the prospectus.

The new Company has been formed in order to afford the public an opportunity of becoming financially interested in the industry and also to facilitate certain desirable reforms. The prospectus is an interesting and comprehensive document of twenty pages, and explains fully the scope of the new Company, and the nature of the investment. It may be obtained from, and applications for debentures may be made to, any member of a Stock Exchange affiliated to the Stock Exchange Association of New Zealand, the local Banks, Offices or any of the Vendor Companies or the Interim Secretary, Accountants’ Chambers, 39 Johnston street, Wellington.— (Advt,).