Page 1 Advertisements Column 2

Wanganui Chronicle, Volume XXXIII, Issue 11283, 2 June 1891, Page 1

PROSPECTUS ' ■ OP THE XJCT A NG ANUIT^ISHING COMPANY (limited). Capital, £2500 in~2500 Shares at £1 each. Payable as follows : — 2s 6d per share on application, 2s 6d on allotment, and tho balance by Calls, not exceeding 2s 6d, per share per month. PROVISIONAL DIRECTORS. Mr J. Whiting Mr J. Murray Mr J. H. Whiting Mr J. Crane Mr H. Hurley Mr F. Stringer Mr Mills | Mr J. Trussell Mr A. Sykes. This Company is being formed for the purpose of plaoing in the Wanganui Market, and the districts available, regular supplies of. fresh fish. It is intended that the Company shall work, at the outset, one steamboat and ono smack, for the purpose of deep 'sea fishing, and to carry on its operations in any waters that may be within easy distance of the Fort of Wanganui. " The temporary office of the Company will be situate I ou Taupo Quay, Wanganui, where all information respecting the Company may be obtained, and applications for shares made. It is proposed that tho Company shall erect and carry on a Freezing works in Wanganui, so that a regular supply of fresh fish can be kept up at all seasons. It is estimated that fish to the value of over .£2OOO per annum, at retail prices, can be desposedof in.. and around Wanganui and the Townships contiguous to it. ' The following are some of the fishes that are available to the Company : — Flounder Hapuka Herring Schnapper RedjPod Gurnard Travalli Blue Cod Mackerel Mullet ' Mullet Soles Whitebait Kawhai The Wanganui Bar, and also theposition of the Port of Wanganui, have been a distinct drawback to any fishing industry as carried on in the present primitive manner, and it is confidently predicted that the markets of Wanganui and its- neighbouring townships can consume a much larger quantity of fish than it hag been possible to supply by the means now in use. That fish may always be caught, and that there are large quantities in the Wanganui Bight at times, arc -Beyond doubt; and it is also well known, that the Sounds and the fishing grounds round the island of Kapiti, might be made to contribute their marine riches to this market. It is hoped that the proposed Company will perform the double work of placing an abundant and regular supply of fish in our markets, rfhich will be a great boon to the public, and of paying a good dividend to the shareholders as a reward for their enterprise. It is estimated that the above mentioned Company, having one steamboat and one sailing smack, would average 122 working days in the year, and that the earnings would average, for ftesh fish in gross, £6 daily, per vessel, or a total of X1464 as the results of the deep' sea fishing, and .£3OO for river fish, which can be caught when the weather is not fit for outside fisiiing, making a grand total of ,£1764. The fishermen would work for two-thirds of the nett takings (that is the gross takings, as above described, less the working expenses of the Company). The other third wouid bo the property of the Company, and should give a fair dividend to the shareholders. The firm of J. Whjting & Co. offer their, smack, the Caßtlecliff, and plant to the Company for £430) and MrJ.H. Whiting, one of the firm, offers to manage the Company, act as wholesale salesman, and in fact, do all the clerical and business works of the Company for 7$ per cent, on the gross sales, and will bind himself to do so for twelve months from the incorporation of the Company. MARKETS. If the Company have fish to the amount of £1764 to dispose of in twelve months, the following is a possible way of selling the same : — There is a sure market in Wanganui and the district round about it, for £27 worth per week, which would supply three hawkers with 30s worth each, per day. This is only a fraction over a half-penny a week for each inhabitant counting 10..000 as within their reach. The effect of a regular supply would probably be to increase the demand very much, as intermittent supplies never create the demand that regular supplies do. The outlying districts of Wanganui might be expected to take fish to the amount of £25 per week. If the fish should be more than usually abundant, other markets can be found. The Provisional 'Directors have gone very carefully into the matter, and find that for the sum of £2250 they can purchase Messrs Whiting & Co's Plant and Interest, a small steamer,' trawls, and a small Freezing machine, and erect a suitable Freezing Chamber well adapted for the purpose of the Company, and several suitable leasehold sites are available on which to erect the Company's building, at a reasonable rental. The Provisional Directors have also made full inquiries as to the probable returns from both the Sea and River Fishing, and from an investigation into Messrs Whiting Bros.' books they are confident that not less than £1404 will^be realised from the Sea fishing, and £300 from the River by line and net' fishing alone, and as they have every reason to believe that trawls can be successfully worked, the returns may be much larger. They also estimate that after paying all Woiking expenses, Fishermen's twothirds, Interest,' and allowing a fair. sum for depreciation, the net return to the Company will not be less than 7 per cent , based upon Line Fishing returns, so that this is a very fair return from Line Fishing alone ; and as we have before stated, we have every confldence.in the ultimate success of the Trawl Fishing, which will very greatly increase the returns. For Sale and To Let. •pi o R sale. The Good Till of that splendid Native Leasehold known as the Waipakura Reserve, fionting the Wanganui and Upokongaro River 3, and is distanced six miles from Wanganui, and contains 2400 acres of land, which is fenced and subdivided into seven divisions. Good homestead, delightfully situated on the Wanganui River, and somplete in every respect— yards, flip, woolshed, &c. . _, The flat land fronting $.&' jivef is unsurpassed, and the hills are well grassed ; good, healthy sheep country. The Lease has 12 years to run at a low rental. For further particulars apply to FREEMAN R. JACKSON & CO. T7l OR SALE, MrW. H. Cox has authorised us tc selj by private contract his Farm of 42E acres, situated at Momohaki, 5 miles from Waitotara Township. The land is of the best quality, and all cleared except aboul 25 acres. The necessasy buildings art erected on the property, and the land is all in grass or crop, divided into suitable paddocks, and well watered. Price low. I FREEMAN R. JACKSON & CO.