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A draft prospectus of the Grand Theatre Company Limited. Swansea, bas been pre- j pared. It stales that the share capital of the Company is £ 6,C0D in 12,OOU shares. or £ B' each. There are also to be issued 5,000 4 per cent. fust mortgage debentures of £10 each secured as a charge upon the whole property and undertaking. As we have before stated, the Drill Hall is to be completely trans- formed, and at Christmas time Swan sea. will possess a handsome new theatre, The directors have made arrangements with M R E. Fletcher, the well Known lessee and manager of the Theatre Royal, Cardiff, to be- come lessee of the premises for a term of five years frem December 1st, 1895, at an annual net rental of £ 600, The price at which the property will be secured by the I Company is £6,5CJO. payable £4,500 in cash, and £ 2,000 in del)enturelor cash, as may be mutually agreed upon,

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