Page 4 Advertisements Column 1

Hawke's Bay Herald, Volume XX, Issue 3938, 29 June 1877, Page 4

Hh prospectus [^■p uthrie and j arnach's ZEALAND TIMBER ANE Bn WOODWARE FACTORIES [Limited]. HH Capital: £250,000, ■H In 50,000 shares of £5 each. payable 011 application, 10s. per !■■ share.' Allotment Call, 10s per share. ■^B After which it is proposed to call up £2 pei share, in sums of 10s each CaU, at ini ervals of not less than three months, HB thus extending the total payments over a period of one year from date of allot- ■ ment. H| 20,000 shares, fully paid up, are retained ■■ by Messrs Guthrie and Larnach (4000 being HB allotted for the Goodwill of the Business and |H preliminary expenses of -floating the ComHH pany, and the remaining 16,000 shares being fully paid up by them iv cash). The remaining 30,000 shares are offered to the public ; 20,000 in New Zealand, and HH 10,000 reserved for the English and Aus■9 tralian markets, a number of which have alBa| ready been bespoken from each of those HJ places. Warn Provisional Directors : H Alexander Burt, Esq., of Messrs. A. and T. HJ Burt, Dunedin. HJ James Robin, Esq., Carriage Manufacturer, H Dunedin. HJ Robert Sparrow, Esq., Dunedin Ironworks, ■J Dunedin. HJ Basil yitevwright, Esq., Solicitor, Dunedin. HJ G. S. Brodrick, Shipping and Insurance H Agent, Dunedin. • H William Moodie, Esq., Manager New ZeaH land Meat Preserving Company, KaH kanui. H Robert Haworth, Esq., of Messrs R. and T. BJ , Haworth, Merchants, Dunedin. BJ A^S. Gibbs, Esq., of Messrs Gibbs and H< Clayton, Merchants, Dunedin. ■ John Reid, Esq., Merchant, Auckland. ■ _ Valuators and Auditors : ■ A. W. Morris, Esq.; C. H. Street, Esq.; and ■ Edmund Smith, Esq. I Valuators tor, Vessels : I Captain Thomson, Harbor Master. I Andrew M'Kinnon, Esq., Shipbuilder, Mayo I of Port Chalmers. I Keith Kamsay, Esq., Shipowner. I Solicitors : I Messrs Sievwright and Stout. I Bankers : I _ *, nk of New Zealand and Branches. I T>?!k I Brokers : * and Moodie, Princes-street, Messrs Conneu Dunedin; "sq., Princes-street, DunI J.. B. Bradshaw, Ik edin.. . — " "~ , -"cted for the purThis Company is pro> -after carrying on pose of purchasing and thert v s weuJkno^ Messrs Guthrie and LarnacL. j^ Woodware Factories and their t , porting Timber and Iron Business. . • t An agreement has been entered v . t ™ MessrsWie ami Larnach to S SetU t0 *he Company their new factories, together . "J all their other builds with the ent. » machinery, plant, .arid stock of every cUSscription at the cost; the whole of the freehold and leasehold lands keldby the firm at present market value ; and their useful fleet of Coasting Ve3sels, also at present actual value, the new over all current agreements and uncompietea orders or contracte. (Fm' the purpose of these and all other valuations, the gentlemen respectively named here after have been appointed by mutual agret went between Messrs Guthrie and Larnach and the Provisional Directors.) It has .also been _ airanged that the new Compan V shaU tak ® over the entire debts due to the ISna1 Sna «f™ and unsecured at par, but shall be ent } tl^ receive on all unsecured debts intei '***** <j ne rate of 8 per cent, per annum from * h ® aa y when stock is taken up to the .„ actual payment, and in addition a comi» '"•"ion for collecting two and a-half peri' e °p Messrs Guthrie and Larnach guaranteeing *j"| entire amount of the unsecured debts to X. lle Company. . . The prudence of this arrangement will at ■I once be apparent, when it is remembered that H the Company thus keeps in its own hands the ■ entire connection of the retiring firm, and ■ thus prevents its customers from being subI jected to:.a possible outside' pressure; receiving, moreover^ commission for the collection of, (l^btPfV^hich }4 its own staff of officers will be able' io overtake in the usual course of business, without cost to the Company. 1 , . By agreement between the Provisional Directors and Messrs Guthrie and Larnach, it has been arranged that the valuation of the freehold and leasehold lands shall be made by Messrs A. W. Morris, C. H. Street, and by Captain Thomson, Ota go Harbor Master, Keith Ramsay, Esq., shipowner, and Andrew M'Kinaou, Esq., shipbuilder, Port Chalmers; and that the net cost of buildings, plant, machinery, and stock shall be ascertained from the-.books and vouchers of the retiring firm by a Committee of the Provisional Directors, assisted by competent accountant's and experts. Four thousand, of the Company's shares fully paid up have been agreed to be allotted to Messrs Guthrie and Larnach, as consideration for the Goodwill of their very remunerative business, they undertaking themselves to pay all preliminary expenses (including brokerage, advertising, &c, &c.,) in connection with the floating of the Company. Stock will be taken as on the day the Company enters into possession, and the debts due to the firm will be taken over as from the same date. The timber business is most extensive, and may fairly be said to be the largest in the Australasian Colonies. In connection with this branch of the business, there are several Bush Mills, and a large fleet of coasting vessels, employed regularly in carrying supplies for the requirements of the Factories as well as open, markets. The Import, Iron, and Hardware business of the firm is also very extensive. These several branches at present represent a most valuable and important part of the firm's trade, and the promoters feel confident that thtey can be most safely and profitably extended. In the New Zealand Woodware Factories tliere : are four distinct departments, viz. : — . Ist. Sawing, Planing, and Moulding Factory. 2nd. Door and Sash Factory. 3rd. Tub and Bucket Factory. 4th. Furniture and Turnery Factory. The trade of each of these is capable of great and profitable extension, and as an evidence of the great outlet for the products of these works, Messrs Guterie and Larnach have been compelled to run the machinery overtime, on an average two nights per week, since the opening of the new Factories. The whole of the extensive Factories and Stores" (specially designed by David Ross, Esq., architect, of this city) are substantially built of brick and cement, on solid Milestone and concrete foundations (all timbers being of the best and most durable descriptions), covering an area, including the timber yards, of several acres of valuable land iv the chief streets of the city. The whole of the splendid modern machinery was designed and planned by an eminent engineering firm in Glasgow, under Mr Guthrie's immediate supervision while in Britain, and after a very careful inspection of the principal woodware factories in \ America, Britain, and on the Continent. Each machine has been firmly placed on a solid bed of concrete where necessary, to prevent the possibility of vibration, and to avoid wear and tear. The contract for the purchase of machinery was entered into when materials and labor in Scotland were at their lowest. The [important advantages to shareholders in a Joint Stock Company of entering into possession of a large manufacturing and importing business in full operation on a fixed date, with a thoroughly trained staff of ' officers and men and a large mercantile connection without, having to wait for the erection of buildings, importation of plant, stock, &c, or being subjected to any of the ■ risks and delays incidental to the starting of a new business, and with all preliminary expenses paid, should be at once apparent to investors. The following special advantages are ,^