Page 10 Advertisements Column 4

Sun (Auckland), Volume III, Issue 714, 13 July 1929, Page 10

An Announcement which will appeal to all DISCRIMINATING INVESTORS. MARLBOROUGH MANSIONS LIMITED (Incorporated under the Companies Act, 1908), j Offers for Sale £20,000 First Mortgage Debentures, with Interest at the rate of £7/10/- per cent, per annum and also a very limited number of Contributing Shares. Nature of Security. The Issue of First Mortgage Debentures is limited to £20,000. It will be secured by a Trust Deed constituting a First Specific Charge on the Freehold Property of the Company (situated near Queen Street, in the heart of the City of Auckland), and also a First Floating Charge on all the Company’s assets and undertakings. Interest at the rate of 7£ per cent, will be payable half-yearly, free from any deduction for Income Tax. The Issue of Debentures is one of the Best nvestments offered to the public for some time, and is particularly attractive, Because — 1. The Security is Undoubted and Gilt-Edged. There is offered for security freehold modern rent-producing Auckland City property, with a trustee’s safe mortgage margin. On similar securities, banks, trust companies and public institutions will and do lend their funds. 2. There is Provision Made for a Large Reserve. The Company in its estimates provides for a Reserve of a minimum of £450 per annum, thus enabling a Sinking Fund to be established towards amortisation of the Debentures. 3. There are no Trading Risks Involved. The Company is not engaged in Trading, but is a Property-Owning Public Company, free from the Tisks attending merchandising and ordinary business. 4. The Debentures are Sure to Rise in Value. Seven-and-a-half per centum per annum return on capital invested on a security of this nature is particularly good, and as application is to be made to have the Debentures listed on the Stock Exchange, they must inevitably reach a good premium. Full particulars regarding the Issue of both Debentures and Shares will be found in the printed Prospectus of the Company, which also sets out in full the Company’s proposition and business. The following summary is taken from the Prospectus CHAIRMAN OF DIRECTORS: The Hon. Ewen William Alison, M.L.C. DIRECTORS: William Joseph Rainger, Auckland, Merchant. Arnold Binney Barter, Auckland, Gentleman. James Osburne-Lilly, Auckland, Solicitor. BANKERS: The Bank of New Zealand. SECRETARY: R. A. Spinley, F.P.A. (N.Z.). F. 1.1.5. Public Accountant, 18, Swanson Street, Auckland. SOLICITORS: Earl, Kent, Massey and Northcroft, Auckland. ORGANISING BROKER: C. J. Green, Sharebroker, Bank of N.Z. Chambers, Swanson Street, Auckland. Telephone 42-499. The Shares in the Company. The Company at present is releasing only 14,000 £1 Shares for sale, and of this number I 0,000 have already been applied for. Full particulars regarding the Shares will also be found in the Prospectus, and. as the estimated return to shareholders on a very conservative basis is at least 10 per cent., and they are for many reasons particularly attractive, the small number available should be quickly taken up by discriminating investorsSPECIALLY NOTE: Applications for both Shares and Debentures may be made through any registered Sharebroker. Send, call or write for your Copy of the Prospectus to the Secretary, or to | T?T7'The Organising Broker, . J . VjJXjCbrLIN , ° f N.Z. Chomter., Swanson St., Auckland. Telephone 42-499.