NEW AMUSEMENT COMPANY
Ice Skating Palais For Brisbane
Brisbane Ice Skating Palais, Ltd., has been formed to conduct an ice skating rink at Wickham Street, Val- ley.
The company has a capital of £35,000 in shares of £l each. Public issue is being made of 22,000 ordinary shares, payable 5/. on application, 5/ on allot- ment, and the balance in calls of 5/ at intervals of not less than a month. Minimum subscription is estimated at £19,200, and it is intended to raise £9000 on mortgage over the land and buildings. Chief capital expenditure is £6000 purchase price of land, £9900 for building, and £10,100 for refrigera- tion plant and skating arena. The land is being acquired from Raymond and Hossack Pty., Ltd. In estimating revenue, the promoter (Mr. C. V. L. Mitchell) states that ad- mission charges to rinks in the South range from 2/ to 7/6. He estimates a gross revenue for the winter season of £9360, based on 400 persons daily, during three sessions, paying 3/ each for admission, skate-hire, &c.
AMOUNT AVAILABLE. The amount available for distribu- tion, including provision for sinking fund, interest, and redemption, direc- tors' fees, and taxation, is estimated at £4342. Profits from dancing in the summer season are put at £1222, a total of £5564. The promoter's consideration is £300 in cash and the allotment of 3000 fully- paid shares, 1000 shares to be allotted on incorporation, a further 1000 shares after the first year in which profits permit the payment of an 8 per cent dividend, and the remaining 1000 shares after the next year that 8 per cent is paid. Mr. Mitchell will be appointed man- aging director for five years. The present directors are Mr. Byrne Hart, Mr. M. D. Davies, and Mr. Mit- chell. The company expects to open the rink on May 1, 1939.