Page 4 Advertisements Column 1

Gisborne Times, Volume XXX, Issue 3501, 17 April 1912, Page 4

ABRIDGED PROSPECTUS OF JAS. J. NIVEN i COMPANY, LTD ENGINEERS. J A Private Company duly incorporated under the Companies Act, but about to be te-iegisteied as a Public Company. (This Prospectus is issued in respect of the intended Company.) CAPITAL - .£300,000. DIVIDED INTO 300,000 ORDINARY SHARES OF £1 EACHSHARES' ALREADY ISSUED ... - SHARES NOW OFFERED FOR PUBLIC SUBSCRIPTION To be paid as follows-: On application .... ... On 29th June, 1912 On 30th September, 1912 On 31st December, 1912 On 31st March, 1913 ... On 30th June, 1913 On 30th September, 1913 On 31st December, 1913 The balance of 4s. per share, being not less than three calend tervals (being not earlier tha all (at the discretion of the Directors) he payable in one sum at a date Tonths from the 31st December, 1913, or in such amounts and at suelic inaforesaid) as the Directors may from time to time determineDIRE CTORS : GEORG M. 1., Mech. E., Napier, Chairman and Managing Director. WHjMtOI NELSON, Tomoana, General Manager in New Zealand for Nelson Bros., Limited. N CHAMBERS, Mokopeka, Havelock North, sheepfarmer. fa y' WILLIAM HENIIY NELSON, Woodville, Managing Director of the Woodville |}|eon Cof Limited. LIONEL NELSON, G. 1., Mech. E., Napier, Engineer. f| ■ LINKERS: The Bank of Australasia. .SOLICITORS: Sainsbury, .. illiams, Napier. AUDITOR : William McCulloch, Napier. SECRETARY : Frank' Sydjsf|s Russell. ERED .OFFICE : Waghorne Street, Napier. STORY OF THE COMPANY. id Co., General Engineers, was ier the style of Jas. J. Niven and Co. when Mr. Niven retired. REGIS Hi The bust/ess of Jas. J. Niven aiifPGeorge Nelson, in partnership, u / |The partnership continued tint in the ycajijlS93 by Jas. J. Niven 1903, i iTho business was carried on fotwo years by -Mr. kelson, when, owing t / nto a private.company, incorporated o the CompanWas a going concern, Mr. / sources, lie c|nvoi - ted the undertakin |The btailless was taken over In man find Managing Director. | | The capital of the Private Cor £100; each, ;fid (Jt)o Ordinary Sharas from time toftiml introduced, bringing the to EventSallyJ in January, 1912, the Dir#tors considered that th the efficient parrying on and expansion of tjss busi increased, at|l tpe Company converted int and it was to re-register the Co™ its ontgfowing his financial retlie 21st eorge N fI.T.-T • , If pop being elected Cliairpany whenFregistered was £65,000, difided into| 50ft’reference Shares of ! £ioo ejln, all full.v subscribed pas businesjfgrel| further capital was up to £82,700when fbDitas desirable, for ime pad u rive hie present therrfseH'es to th The s(|PrefereiMse into Ordinary- Sghares Jan solved that |b| capifal Shares of £1 ’ The ca £1 each, of v them. The r consideration,! money or oth pany, nor wil not alter the monts have Company. duties mentioned in the Menf|ran|uin of Asibc'Jftion of the Company have been converted by a spjjfial resolution passe|| l>v|the Comp|rp on the 26th January, 1912, it was uC the. apany be divided by th 4 sub-division of all its existing shares into Ordinary onditions of the MemgranJum of Association be modified accordingly. fmbefs of isli or co&sidera San j? such b; Identity of for will The fo|k>#ing stat Liabilities of.-Dfe Compaiii course of busifiess. the ch, al of tlieiCoinmiiy, therefore, now eoSsistf of £300,000, divided into 300,000 Ordinary Shares of ch $2,700gire ljeld by Sliarffliolders of tl|e oil Private Company, and have been fully paid for by Private Company havelnof received, nor will they receive, any other benefit or rwise, on the! conversion of tile Company into a Public Company, nor has any oil been paid for |r given in relpjct of the good-will of the business of the Private Cornua id or given, ifs the re-registration of the Private Company as a Public Company does lie Company and Consequently does not involve the promotion of a new Company, no paye made to anyomf'as promoter. uent, taken from ithe last Annual Report and Balance Sheet sets out the Assets and as at 31st Marelit 1911, other than liabilities under current contracts in the ordinary The last!Annual Re ASSETS AND LIABILITIES. tort and Balance Sleet of the Company, dul b£ flic Com pa life’s Auditors, shows That at 31st March, 1911, tb be! eft by the Cohfpany exceeded the Company’s liabilities by ... 1 v gf y H •esemting the Capital piid up at 31st March certified ? Assets £84,655 16 5 This fampunt repr Piusfthe profit avaifjble for division yelr endin t k ft £ 31: 1911 March, 1911 75,000 0 0 6,685 16 5 £84,685 16 5 Unite 31*t March. l ( J|ff, further Capitali the total of paid-uf up, making o the amount of £4, Capital to date rOO has been £52,700 0 0 / / remlrks on assets. and Palmerston North, including most of the .frontage—is The Company owns Engineering Works lit Napier, Gisborne, Hamilton THE NAPIER WORKS cover an area <§ 2$ acresof which II acres- „ __ freehold. The back portions of the property a|e held under six leases from the. Napier Harbour Board, five of which have from 11 to 14 years to run, and cor|tain provisions giving the tenant the right to a perpetual renewal, t, i ------ —... men i. i • T ' affects only years to The property has a frontage of 508 feet to Waghorne Street, of which 412 feet are freehold. The premises and plant comprise all the Departments of a General Engineering Company; the Works are modern and complete in every respect. At GISBORNE the Company owns three roods thirty-two perches of freehold facing apposite the .passenger wharf—on which the Works are situated. The buildings, w the liver on the Kaiti liich are of -wood and At side—opposite the .passeng-. . , . , , ~ . iron, cover 9000 square f/|t, and are quite new, having been built in 1910. At AUCKLAND} tip Company rents an office only./|? At HAMILTO.T the Company purchased Mr. Upton’s Engineering Establishment—facing the Railway Station in October last! The purchase comprises a freehold!'section of twenty-seven perches, with building of wood and iron, covering 2(1)0 Square feet, built in 1902 and .19.07, (suitably fitted and equipped. Plans are now being .=•.. .& ■ ,f these premises. Wi.thS'amJeye tb, future developments " prepared for doubling chased two acres of ie size of hold at the corner of London and Selkirk Streets. the Company has purAt PALMERSffijjpN NORTH the Company has' Wjbrks built op 1$ acres of freehold in Church Street -facing the Railway Goods aged. The buildings, M wood JinidfiSrdn, cover JIOOO square feet, and were built in 1903. At WELL! X (JrOX the Company 4<nts pre.misesjj'vhere a ifiiall stock is carried. At WAIPUK#RAU the arranged ft mircjiAse lacres of frehold opposite the Railway Station. " This transatfibn is not yet conii/elod, but will/:hie shortly. A This transamibn is not ycLcompleted, At HASTlN(fs|tlie Company recently ptirchasfid\e'venteen perches of freehold, having thirty-six feet fron tage to Market Str^et^vopjiositextile Lil|fary. j The BUILDAND SPLAI®r thp various Works are in good order, and have been thoroughly well maintained. M M' ■ f. LONDON .cjsapany rents Offices in London, from which all European purchases are and negotiations Sonducteat* Tff#lease of the has nine year The STOCKS are in good order, and the B<|dk Debts o doubtful items have been written down. fi Needham, otn which all European purchases are made s to run, at a satisfactory rental, to the Company are sound. Year by year any. INVESTMENTS. These consist of shares in and loan to Subsidiary Companies, namely, Needham, N34j? n and Co* Ltd * Christchurch, and Scott, Niven and Co., Ltd., of Palmerston North. In the formey panv holds a controlling interest. The Company of and Co-. Ltd., was wound up fifidjjits It is "now as a branch of the Company. f THE COMPANY. M 0 m & .lilt; I/JILCUL P ii cl \ V 11W J cuoun c vu ai. of the Company’s business, add the *I9OB, an average annual i expansiqif of the “ ipatby and interes % 77*7^fes^4di has been eajmed. business purchased by this Comiiany. / \ jf R ° FIT Since the/formation of Uhe Cpjnpan ... ~ The Directors have no reason J-to arl|icigsi»fe other than an expansioh; of the pyofiWfcoipeqflent.upon the exttfilsion est of a eirclejgbf sJ'hreljmders. | GE m ß ¥l Jj.. . - mpany-d'o-eS'-not altqf th# contracts ol the Company e ordinary Jh’ade ch^i - act#r. whjjni proceed to allotment is 20,000 shares, all of which As the re-registration of ft he will not be affected. They aye of The minimtu« B *T?»UfcriiJtion the present! prepaj No cfimjms.sion will j>c pay a cure subscriptions, but th/ Compaq The preliminary eAccuses oqftli The Articles of Association /(pro Pi fng to prod jjp tali For suhf(frihij|jr or agreeing to subscribe or procurin t|ill to pay ordinary brokerage. ie Company will be paid by it, and are at £BOO. at a Director’s qualification is in bis own right of at a Cornnany; and that the Directors’ fees shall be neral meeting, and that tlie remuneration of ' rom time to time by a resolution ing Director shall be' fixed by the least ICOO snares of the Comp&ny in Directors. . Annlications for shares should fie made to the Directo forms provided with the Piospectus. Ihey may be Forwarded direct to the Secretary of the Xauier, or through the Managers of the Company at Gisborne, Auckland, Hamilton, Palmerston or 3 Salters’ Hall Court, Cannon Street, London, E.C. Applications will he received tip to TUESDAY, 30th April, 1912. A remittance for the amount on an plica! ion must be forwarded with the application. If no allotment is made the denosit will be rgjfcTfrned without deduction. If the number of shares allotted is less than that applied for the surplus will bor@t#ned to the applicant. Prospectuses and-Ffirms of Application can be obtained at any of the Company’s offices. The Prcsneclus has been duly filed with the Registrar of Companies. Dated this- Bth day of March, 1912.