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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 lpv
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 SI9000 on mortgage over the land and buildings. Chief capital expenditure is C6000 purchase price of land. £9900 for building, and £10,100 for refrigera ;ion plant and skating arena. The and is being acquired from Raymond md Hossack Pty., Ltd. In estimating- revenue, the promoter Mr. C. V. L. Mitchell) states that ad nlssion charges to rinks in the South ?ange from 2/ to 7/6. He estimates t gross revenue for the winter season )f £9360. based on 400 persons daily, luring three sessions, paying 3/ each or 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 st £4342. Profits from dancing in the summer season are put at £1222, a total Df £5564. The promoter's consideration is £300 n cash and the allotment of 3000 fully 3aid shares. 1000 shares to be allotted m incorporation, a further 1000 shares ifter the first year in which profits sennit the payment of an 8 per cent iividend. and the remaining 1000 shares after the next year that 8 per :ent is paid. Mr. Mitchell will be appointed man iging director for five years. The present directors are Mr. Byrne 3art, Mr. M. D. Davies, and Mr. Mit :hell. The company expects to open the ?ink on May 1, 1939.