Page 4 Advertisements Column 3

Taranaki Daily News, 3 February 1923, Page 4

THE NEW PLYMOUTH OPERA HOUSE COMPANY, Limited. NOTICE IS HEREBY GIVEN that the above-named proposed Company is issuing a Prospectus inviting subscriptions for 10,200 shares of £1 each, the capital of the Company being £25,000, of which 14,800 shares have already been subscribed. The said Prospectus states, among other things, that shares shall be payable as follows.2/6 per Share on Application 2/6 per Share on Allotment / And the balance by calls not exceeding 3/- per share, at intervals of not less than two months. Also that the proposed Directors are: THOMAS CURRIE LIST, NEWSPAPER PROPRIETOR, NEW PLYMOUTH EDWARD PERCY WEBSTER, ACCOUNTANT, NEW PLYMOUTH GARNET HORNBY SAUNDERS, BUSINESS MANAGER, NEW PLYMOUTH FRANK STANLEY JOHNS, Merchant, New Plymouth ALEXANDER ALEXANDER, Farmer, New Plymouth DAVID BLACKLEY, MEDICAL PRACTITIONER,. NEW PLYMOUTH CHARLES ANDERSON WILKINSON, MERCHANT, ELTHAM AND NEW PLYMOUTH SOME OBJECTS OF THE COMPANY. With reference to the Objects of the Company, the Prospectus states (inter alia): The principal object of the Company is to acquire the land on which the old Theatre Royal stood, as'well as neighbouring land, and build thereon a modern opera house, together with offices, shops, etc. The site is an ideal one. It is right in the heart of the town, and is served by the tramways from every part. It has two valuable frontages, one of 63 feet to Devon Street and another of 44} feet to Egmont Street, with a wide right-of-way through to King Street. On Devon Street the land is considerably below the level of the footpath, providing a fine natural basement, which it is planned to utilise as a hall for dances, meetings, etc. Shops will also be provided in front. On the Egmont Street frontage, it is hoped to build shops and offices, as well as providing a basement. From these sources it is confidently expected to obtain considerable revenue. The need for an up-to-date theatre has been felt ever since the old Theatre Royal was destroyed by fire in July, 1916. The big companies have been obliged to cut out New Plymouth entirely, and those desirous of . seeing first-class performances have had to go to Stratford, Eltham and Hawera. The promoters (The Taranaki Amusements, Limited, and the People’s Pictures, Limited), are of opinion that a first-class Opera House is an essential adjunct to a progressive town like New Plymouth, and that it would not be long before it would be a payable proposition. So satisfied are they on this point that they are prepared—and have entered into a legal undertaking (see Schedule of Contracts) to guarantee dividend, as from the date of opening of the Opera House at the rate of 6J per cent, for a period of five years to the public who cake up shares. This means that the public are assured of a certain return upon their investment in shares, even should the Opera House not pay its way for that period, which, as' will be shown, is hardly a likely eventuality. In the old days of the Theatre Royal, all the first-class theatrical touring companies called at New Plymouth, it being a convenient halting place on the journey from Auckland to Wanganui, and, as a result, the revenue from this source was considerable. But the projected company will not have to depend entirely upon theatre receipts. There will be the rents from the shops, offices and basements, which should amount to a very substantial sum. Then there is the revenue derivable from special cinematograph pictures. Altogether, then, there should be a considerable revenue independent of the above guarantee. The promoters have shown their confidence in the venture by agreeing to take up between them no less a number of shares than 13,300, whilst the Taranaki Amusements, Limited, are further backing their faith in it, not only in subscribing £lO,OOO of the above, but agreeing to leave on second mortgage nearly ninety per centum of their equity in the land. The promoters are of opinion that they will be able to build and equip an opera house in keeping with the importance and development of New .Plymouth, together with the purchase of the land, for the sum of £35,000. The opera house will be the first consideration, shops and offices' being subsidiary. If means permit, they hope to build right, over Egmont Street frontage, so completing a block of buildings which will be the most substantial in the town. Arrangements have been made with the well-known New Plymouth Architect, Mr. T. H. Bates, to proceed to Sydney, and there consult with Mr. White, the theatre architect specialist, who has built and is building most of the important and successful theatres in Australia and New Zealand, the idea being to secure the most modern and best design obtainable. As will be seen above, the capital of the Company is £25,000, and; the proposed financing is as follows: ' . Approximately £lO,OOO to be raised on mortgage on the land and buildings; Taranaki Amusements, Limited, to take up in shares £10,000; People’s Pictures, Limited, to take up in shares £3,300; and to offer to the public shares to the amount of £11,700; a total of £35,000. . N.B.—This notice is for information only, and is' not itself to be regarded as a prospectus or invitation to subscribe for shares. Intending Investors must obtain a Prospectus, copies of which can be obtained from Mr. C. H. WYNYARD, SECRETARY, 93 BROUGHAM STREET, NEW PLYMOUTH.

Cable advice, was received yesterday by the Melbourne, Limited, to the effect, that all Horrocks’s and Crewdson’s products were being advanced 124 and 15 per cent, on the 14th February. Every buyer of cotton goods will therefore be well advised to lay in a rftock of these goods while prices are reduced at the Melbourne Ltd s great sale now ea.