Scope and Content
Prospectus for issue of £150,000 First Mortgage Debenture Stock at 4% by J.W.Green Limited on flotation as a limited company
- £150,000 of other shares to be issued divided into 7,500 5% cumulative preference shares at £10 each and 7,500 ordinary shares at £10 each;
- Trustees for Debenture Stock Holders: Edward Snow Fordham JP DL of Ashwell [Hertfordshire]; Frederick W.Wigan of 15 Southwark Street London SE;
- Directors: John William Green of The Larches, Luton; Charles N.Kidd JP of The Steam Brewery, Dartford [Kent]; Sidney Joseph Green of The Brewery, Luton;
- Bankers: Barclay & Company Limited;
- Auditors: Alfred Thomas, Peyer & Miles of 2 Adelaide Place, London Bridge EC;
- Solicitors: Neve & Beck of 21 Lime Street, London EC and Luton;
- Brokers: Linton, Clarke & Company of Bartholomew House, London EC;
- Secretary and Registered Office: Hugh Cumberland, The Brewery, Park Street West, Luton;
- The prospectus reads as follows: "The Phoenix Brewery, Luton, was established in 1857, and during the last 29 years in which it has been in the hands of Mr.J.W.Green, the present Owner and Vendor, it has become one of the largest and best reputed concerns in the County of Bedford. Another very old-established Brewery in Luton, belonging to Messrs T.Sworder & Co., having recently come into the market, Mr.Green purchased the same, and it is solely for the purpose of providing the necessary capital to complete this purchase that Mr.Green has registered under the Companies Acts, and is making the present issue of Debenture Stock. The property in question is known as the "Bedford Road Brewery, Luton" and was bought at auction with the wine, spirit and aerated water businesses, and all the houses, maltings and other property connected therewith for £139,000 (N.B. - in addition to this sum a valuation of the plant, stock-in-trade and book debts is to be made on the 29th September instant). Since the purchase of the Bedford Road Brewery, the Phoenix Brewery Estate has been surveyed by Messrs Alfred Thomas, Peyer & Miles, the well-known brewery valuers, &c., and without taking account of the very valuable general goodwill attaching to the business, they report, as under, that the value of the Freehold and Copyhold Properties alone, with the fixed manufacturing plant, is £85,250. The rolling and consumable stocks and book debts at both breweries will be carefully valued as on 29th September instant, but Mr.Green has covenanted that if such valuation shall not amount to £30,000, he will make up the amount in cash to that sum, and the nett value thereof may be taken therefore at the guaranteed minimum of £30,000 [total £254,250]";
- security comprised: (a) freehold Phoenix Brewery, Luton and manufacturing plant; (b) freehold Bedford Road Brewery, Luton and fixed plant; (c) two freehold malthouses; (d) freehold aerated water factory in Inkerman Street, Luton; (e) leasehold offices, wine and spirit stores and cellars in Castle Street, Luton; (f) 93 freehold, 5 copyhold and various leasehold public houses and beerhouses and various dwellings; (g) casks, jars and bottles, horses, drays and other effects as well as stocks of beer, malt, hops, wines, spirits and other consumables, book and other debts; (h) goodwill of several businesses, trade marks and beneficial contracts.