BE SURE!

Wanganui Chronicle, Volume LXXVI, Issue 18232, 18 July 1921, Page 5

BE SURE!

“MORTGAGE” DEBENTURES. The leading business journal of the Dominion, “The Mercantile Gazette,” has this to say concerning the unique advantages of “mortgage” debentures, such as those issued by the Gisborne Shcepfarmers’ Frozen Meat anck Marcantile Co., Ltd.: — “A mortgage debenture should be secured by a trust deed giving it a definite mortgage on the real property of the company. Where specific assets are pledged supported by sound valuations, an investor has a guarantee as to repayment of his principal. He is assured, too, that the security cannot be pledged to other creditors or his margin weakened for the benefit of ordinary trade creditors which is the case with a bond or ‘naked’ debenture.” Investors in the 7J per cent. Mortgage Debenture Issue of the Gisborne Sheepfarmers’ Frozen Meat Company are protected in this manner. The £300,000 issue is secured by first mortgage of properties and plant conservatively valued at £615,263 —that is, over £2 for every £1 invited from -investors. The trustee for the Debenture-holders is the N.Z. Insurance Co., Ltd., Auckland. Read full particulars of this sound and profitable investment. ’ Debentures are in sums of £5O, £lOO, £5OO and £lOOO, currency ten years. Interest, 7 J per cent, per annum, payable half-yearly, free of debenture tax. Get prospectus from the Bank of New Zealand, or any member of the Stock Exchange, or from the Company’is broker, Mr W. Lissant Clayton, Gisborne, or the Company’s Office. Gisborne.* Messrs Silk, Haworth, and Co., licensed sharebrokers, 44 Maria Place, are authorised to receive applications for the Gisborne Sheepfarmers’ Frozen Meat and Mercantile Co., Ltd., £300,000 debenture issue at 7J per cent, free of debenture tax. Prospectus, etc., may be obtained on application.* » L. B. Grimstone, sharebroker, 112 Ridgway Street, has b n en authorised to receive applications for £300,000 7i per cent. Mortgage Debentures issued by Gisborne Sheepfarmers’ Frozen Meat and Mercantile Co., Limited, secured by first mortgage to trustees of freehold and leasehold property and plant valued at £615,263,