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_0_- This Advertisement is not be tegordttl is an inviation to subscribe for Shares or Debenture, but is issued for the purpose of information only, and applications will only be accepted on the basis with reference to the full Prospectus issued by the Company. The full Prospectus ha* been filed with te Registrar of Joint Stock Companies. The Subscription List in tje ca^e cd: the Jill prospectus will open on Thursday, the 17th December." 1908. and close on or before the 23rd December. 1908. SNOWDON FLAKE FLOUR MILLS, LIMITED. 'Nip NT UNCORPORATED UNDER THE COMPANIES' ACTS, 1862 to 1907). CAPITAL £ 25,000. DIVIDED INTO 1:2;;}()() os per cent. Cumulative Participating Preference Shares of £1 each £12,:)00 12,500 Ordinary Shares 'of £ 1 each ..j 12,500 £25,000 And HJO -Ii. per cent. Denbentures of £ 100 each £ 10,000 PRESENT ISSUE. £ 10.000 in per cent. Cumulative Participa-tibg Preference Shares of £ 1 each. £ 10.800 in 4?, per cent. First Mortgage Debentures of £ 100 each at par. PAYABLE AS FOLLOWS: DEBENTURES. SHAKES. 10 per cent, on Application. 2s 6d on Application. 40 on Allotment. 76 6d on Allotment. 50 One. Month alter Allotment. 58 Od One Month after Allotment. 5s Od Two Months after Allotment. £ 100 £ 10 0 The Preftvonoe Shares may be paid up in full on Allotment, in which case interest at 5J per cent, will be allowed in respect of the prepayment of instalments. The Debentures will carry interest at per cent, per annum, payable half-yearly, on June 1st ami December 1st in each yenr. and will be secured by a first mortgage of all the Freehold and Leasehold Property of the Company to the Trustees for the De- benture Holders and by a floating charge on all the undertaking and remaining assets of the Company. Thev will be redeemable on the 1st day of December, 1920, or at the Option of ihe Company at any time before tha.t date upon six months' Notice in writ- iiiar beins; given by the Company. The first payment of interest will be on June 1st, 1909, when interest will be paid' as from the date of payment of each instalment. The Preference Shares are entitled to a Cumulative Dividend at the rate of o| per Tje.nt. per annum, and raijk both as regards Dividend and Capital in priority to the Or- llinarv Shares. After the payment of Dividend at the rate of 5^ per cent. on ALL the Shares 2 Preferenec and Ordinary) in any one year, holders of Preference Shares will be en- titled to further participate in the profits for that year at the rate of 1 per cent. for Svery 1 per cent, above 51 per cent, paid to the holders of the Ordinary Shares in that Year. The Preference Shares carry equal rights of attending meetings and voting with the Ordinary Share-, it being so provided by the Company's Articles of Association. The Articles of Association provide that the Directors may set aside out of the sur- plus profits of the Company remaining after payment of the dividend of 5-y l per cent, on the Preference Shares such sum as they think prcper as a Reserve Fund. TRUSTEES FOR THE DEBENTURE HOLDERS. WILLIAM BAYNE, Menai View Terrace, Bangor. JOHN EVAN ROBERTS, Brvn v Mor, Bangor. SOLICITOR TO THE DEBENTURE TRUSTEES. JOHN GLYNNE JONES, Masonic Chambers, Bangor. DIRECTORS. THOMAS LEWIS, Gartherwen, Bangor, Merchant. THOMAS CHARLES LEWIS, The. Sycamores, Conwav, Merchant. WILLIAM HOWARD LEWIS, Garth Road, Bangor, Flour Miller (Managing Director).- Two other Directors may be appointed by the Shareholders. BANKERS. THE NORTH AND SOUTH WALES BANK, LTD. SOLICITORS. S. R. DEW AND COMPANY, 10. Farrar Road, Bangor. AUDITORS. llA YLEY. WOOD AND CO.. 'Chartered Accountants. 2. Booth Street, Manchester. SECRETARY (PRO TEM). AND REIGSTER.ED OFFICES. ROBERT WILLIAM LAMB. Snowdon Flake Flour Mills, Dean Street, Bangor, Wales. I ABRIDGED PROSPECTUS. ) The Company is formed for the purpose of Squiring as a going concern, carrying on ?Hd developing, that portion of the well- |jowii and old established business of ^homae Lewis and Company, which ig con- ned to the Milling and Provender business juried on by them at the Snowdon Flake flour Mills (formerly known as the City j>team Mills), Dean Street, Bangor, in the £ ounty of Carnarvon, together with all the £ eehold and leasehold premises belonging hereto and including the freehold Mill and demises and the leasehold Wharf or Pier I d other premises situate at Garth, Ban- r, and used in connection with the said till, and the goodwill of the said business v d the benefit of all subsisting, contracts. The Mill is exceptionally favoured as to jj"8 position, and there is no other large ern Flour Mill within a radius of 35 JjiLes, or in the Counties, of Anglesey, Car- J^rvon, Merioneth, and the western portion Denbighshire. These counties have a Indent population of over 300,000, which is pgely increased during the Summer season the influx of visitors to the North Wales ^aet. > The Vendors recently caused the Milling "Vh.me.ry to be entirely overhauled and pensively remodelled, and latest Machines j' the finest British manufacture have been galled. The Mill has also been fitted r^oughout with an efficient and economical of lighting by electricity. .With its present equipment the Mill is Pable of producing flour equal to any pro- vable, and its capacity is over 1,200 sacks Flour and 2,000 sacks of Indian Meal per L^k. In addition excellent facilities exist a large business in sundries, such as Oat- 1, Beans, Oilcake, &o., &c. ie Certificate of the Company's Auditors [rd Aceountanfls" appearis ifelow, showing Capital Expenditure to the Vendors since ^uarv, 1905, to be £ 3,768 10s 5d. The Assets to be acquired are as follows:— Freehold Land (extending I over an area of 3,872 yards, more or less), amd n. Mill and premis- es, and Leasehold: Land, Foreshore, Pier, and premises at Garth, t extending over three ■fc acres, together with the fr Millins; Plant-, Machin- [ ery. Fixtures, and uten- I sils (as valued by Messrs J Wood and Newland) £ 19,668 0 0 Goodwill (inclusive of the Registered Trade Mark "Summit of Snowdon"), and all other rights of 1 the Vendors relating to the said Milling busi- the Vendors relating to the said Milling busi- ness £ 5,332 0 0 £ 25,000 0 0 The Vendor of the said freehold premises, I milling plant, machinery, and fixtures, is I Mr Thomas Lewis, of Gartherwen, Bangor. aforesaid, and the price to be paid to him for the said freehold Mill and premises, with the milling plant, machinery, fixtures, and utensils thereon, is fixed at £ 17,168, pay- able as under:- In 7,168 fully paid Ordi- nary Shares of the Com- pany of £1 each £ 7,108 0 0 In ensh or debenture*, of the present issue, or partly in cash %nd partly in debentures of the present issue, at the option of the Company £10, 000 0 0 £ 17,168 0 0 The Company in exercise of the above- mentioned option will issue such of the Denbentures of the present issue as miay not be subscribed for by the public to the said Thomas Lewis at par in or towards satisfaction of the said sum of £ 10,000. The Vendors of 'the said leasehold pre- mises and the said Business and goodwill are the eaidWirm of Thomas Lewis and Company, consisting of the said Thomas Lewis, Tho- mas diaries Lewis, of the Sycamore, Con- wa.y, in the County of Carnarvon, and Wil- liam Howa.rd Lewis, of Garth road, Ban- gor, aforesaid (who are also the promoters of the Company), and the price to be paid to them is as follows, namely:— I (a) For t.he said leasehold premises £2.500, payable in 2,500 fully paid-up Preference Shares, of the Company of £ 1 each. fb) For the goodwill JE5,332, payable in 5,332 fully paid-up Ordinary Shares of the Company of £1 each. The- Company w)Jll also pujrcihjase OA & I valuation (and on the terms mentioned in the prospectus) the Stock-in-Trade on the Milling Premises, or contracted to be pur- chased on the 31st December, 1908, and also all Horses, Harness, and Trade Vehicles owned by the Vendors, and used by them in connection with their milling business on the said 31st Decemtber. The Vendors will pay and discharge all liabilities and engagements "P to the said 31st December, 1908, and the Company will take over the business with the then exristingtrade contracts of the usual character as from the 1st January, 1909, subject to the conditions mentioned in the prospectus. Mr Howard Lewis has .consented to act as Managing Director for 5 years, as from the 1st January, 1909. Messrs Wood and Newland, of 42, Spring Gardens, Manchester, Exoert Mill Valuers, who have valued F]our Mills in all parts of the United Kingdom, have issued the fol- lowing t VALUATION CERTIFICATE. I {"Spring Gardens, Manchester. accordance with instructions re- accordance with inetructtions re- I>'1 *ved, we have made a careful inspection y tlie Freehold Land, Buildings, Molive Sfr^'er, ft'id Gearing, Wheat-cleaning, V^shing, Drying, Conditioning, and Flour jvdling Plant, Machinery and Accessory rJttirigS) Mill Stones, Electric Light In- f, Elation, and Office Furniture, compris- XjS THE SNOWDON FLAlTE FLOUR n^UjLS, situate at Dean Street, Bangor, K^th Wales, also of the Leasehold Pro- comprising Land, Buildings, and £ >go Pier, situate at Garth, near to and lV-ft.d in conjunction with the aforesaid fVjls, the property of Messrs Thomas anc^ *f°ur fillers, all as enu- l^ated in Inventory furnished herewith. 4 "And we hereby certify the value thereof ((exclusive of Goodwill, Stook-in-Trade, (Sacks, Horses, Carts, and Steam Wagon)' to be in our opinion the sum of Nineteen thousand six hundred &nd sixty-eight pounds, taken as a Current Going Concern "11.6 on the 8th day of January, 1908. "WOOD & NEYLAND. "15th January, 1908." Th* filling business has been carried on by the Vendors in conjunction with their businesses of Tea Merchants, Grocers Pro- vision, Bacon Curing, Flour and Corn, and Genera1 Merchants, which businesses will be earned on by the Vendors under wi? c £ mSeany^rm °f T'Thomas f ACCOUNTANTS' CERTIFICATE. I i Booth street, I "Manchester, "'16th June, 1908. have attended at the Snowdon Flake l^a1" f°-T the purpose of preparing a jljding account of the Milling Branch of TV^sieurs Thomas Lewis and Company's ll^Herjs. Upon examining the books we iV^d that it was impossible to prepare a TVJjfcig account showing the result of the K.iftg business as a separate concern. was principally due to the fact that pf fi^m were the proprietors of a number L ^hops to which a large amount of goods In supplied, charged for, and included «iJjhe total Kales at retail prices. 6 find that during tlie period from 1907 (when the remodelling of the £ /OHr Milling plant was completed) to top JL1908, records covering the grinding V < £ 7,354 centals had been kept in the or- iJ,0J7 course of business, and these wo f*ve ear»fuUy examined. They are b- I 'upon the market price of the Wheat (in- elusive of carriage to the Mill) and Flour <ia? Produce (exclusive of outward car- riage) for the day, fluctuations not being taken into account. {. from these records we find that the gross profit on an output of Flour equal to the "average for the years 1906 a"-S 1^07 "ould amount to £ 5,380 9 1 io this must be added the profit on Indian Corn and Sundries, OatR, Beans, Rice, "Linseed, &e., &c. It has not been possible to ascer- t-ainthe tTactual amount, but Mr W Howard 1/ewie, after ,careful calculatioD8, con- eiders that the a.vera.ge profit on these may be estimated at "not less than 21d per eentaj (gross). We have ascertain^1 -> books the f- "amounts purchased for the "years 1906 and 1907, and ac- "cepung Mr Lewis' estimate, "we find the gross profit would "be 1,324 7 6 £6,704 16 7 "Deduct Expenditure :— "(a) Average "amount as shown "by the books for "bOO and 1907 to "have been expend- "ed on Wages, "Coal, Repairs, "Lighting, Rates "and T axes, Sell- "ing, &c. (but "omitting Fire In- surance and Sack "loss) £ 3,209 7 2 "(Ib) Amount pro- vided for loss on "Sacks and Fire "Insurance 730 0 0 3,939 7 2 2,765 9 5 "Add estimated "Rents and Dues "receivable 120 0 0 "Ncti Annual Profit £ 2,885 9 5 'We find from the books that since Janu- "ary, 1905, there has been expended in re- "modelling the Milling Plant a sum of £ 3,284 98 6d, and on a new Well, special "expenditure on the premises and the in- "stallation or Electric Light the sum of £ 484 Os lid, making a total Capital Expen- diture of £ 3,768 10s 5d within the la6t "three-and-a-half years. "BAYLtEY, WOOD and CO." The above Certificate is based on the working of the Mill for the years 1006 and 1907, during which period the business was largely interfered with and disorganised by the process of remodelling and other causes. The remodelling has now been completed, and the Directors confidently an. ticipate a great increase in the volume of business. The Vendors take one half ( £ 12,500) of the total purchase price in Ordinary Shares, upon which no dividend will be paid in any year until a dividend of £51- per cent. has been paid on the Preference Shares, for that year, and such sum as may have been decided upon by the Directors has been set aside for the formation of a Reserve Fund. The Company will pay all preliminary ex- penses, and the estimated amount thereof is £¡500. The minimum subscription upon which the directors may proceed to allotment is 6,000 of the shares now offered to the pub- lic. Application for Debentures and Shares should be made upon the forms accompany- ing the full prospectus and sent to the Company's Bankers, together with a. remit- tance for the amount of the deposit. Where no allotment is made the deposit will be returned in full, and where the num- ber of Debentures or Shares allotted is less than that applied for, the balance of the deposit will be applied towards the remain- ing payments. Failure to pay any future instalments when due On the Shares allotted will ren- der previous payments lia/ble to forfeiture. A copy of the Company's Memorandum of Association is printed in the fold of, and forms part of the prospectus. Copies of the Memorandum and Articles lof Association of the Company and of the Agreements mentioned in the prospectus can be seen at the Office of the Solicitors to the Company between the hours of 11 and 4 on the days upon which the subscription lists are open. Prospectus and forms of application can be obtained at the Office of the Company or from its Bankers. The Company will pay » Brokerage of 3d per share on all Shares, ,*nd 1 per cent, on Debentures aJlotted on application forms bearing a. Broker's Stamp and will pay to other agents through whom approved applications are received a com- mission of 3d per share and 1 per cent. for Debentures. Our Christmas Number. SPECIAL FEATURES. The U(>IXt number of the "Observer and Express, which will be published on the morning of December 24th (Thursday) will be a special 'Christmas number. In addi- tion to the ordinary local and district noews, it will contain many seasonable and entertaining features. These will include— Stories by Harold Bindloss and Martin J. Mc Hugh. "A Merry Christmas." — A special contribution by Spencer Leigh Hughes ("Sub Rosa"). "The Music of Xmas."—An interesting article by Mr Algernon S. Rose. Christmas Conundrums. Christmas Merry-Makers (illustrated). Almond and Raisins (Jokes and Puzzles). Xmas Don'ts (Witty and Wise). Carnarvon Crackers (Wise and Other- wise). A glance at the above list is a sufficient guarantee of an excellent paper, a paper that will, we are sure, be greatly appre- ciated by all 'who require seasonable read- ing anlusen)eiit for Christmas day and Boxing Day. ORDER YOUR COPIES EARLY. i

NO ROAD.

Notes of the Week.

Without Prejudice.

¡RETIREMENT OF A RAILWAY CUARD.

PKESENTATK hN TO M'R JOHNI…

SEQUEL TO A RUNMtMC, OOWM…

[No title]

> A SUCCESSFUL WELSH INDUSTRY.

DISTRESS IN CARNARVON.

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MR R. B. ELLIS, J.P.

BEAUMARIS FOOTBALL.

DISTRESS IN CARNARVON.