10 PER CENT MORTGAGE DEBENTURES.

Waikato Times, Volume 97, Issue 15273, 25 June 1923, Page 6

10 PER CENT MORTGAGE DEBENTURES.

R-ttAfIKA-LE INVESTMENT OFFER. * N.Z. BREWEIUKS LIMITED. It is sometimes assumed that the label,'debenture or bond has a special kind of sanctity, but this is not so unless it is secured by a Trust Deed giving it a definite mortgage on the property of the Company. In the case of New Zealand Breweries Limited, which is offering £1,000,000 Ten per cent. First Mortgage Debenture Stock to the public, there are present all the attributes of a first-class investment. The Issue is secured by a Trust Deed in favour of the New Zealand Insurance Co., Ltd. (as Trustee for the Debenture Stockholders) constituting a first specific charge on the freehold property of the Company, and a first floating charge on all its assets and undertn kings. Payment of interest for three years will be guaranteed by The N.Z. Insurance Co., Ltd., with whom will be deposited securities for £345,000 in support of the guarantee. Another attractive feature of the investment is that interest will be payable quarterly, free of exchange and free of income tax, as provided in the prospectus. The Company has been formed to purchase ten of the. largest and most successful brewery businesses in the Dominion. The opportunity now offered the public to secure a real financial interest in the brewing industry has attracted much attention. Those who desire to paritclpalc should make prompt application, as it is more than lM;niv "i;it the issue will close at early moment. The prospectus may be obtained from, and applications for debentures may be made to, any member of a Slock Exchange affiliated lo the Stock I'jXcuangi: Assjijoiauon ul N.Z., the local Banks, Offices ul' any of the Vendor Companies, or the interim Secretary, Accountants' Chambers, 39 Johnston Street, Wellington."