Page 1 Advertisements Column 5

New Zealand Herald, Volume XIV, Issue 4898, 28 July 1877, Page 1

Public Companies, /"i UTIIRIE AND J.ARNACn'S NEW " W ZEALAND TIMBER AND WOODWARE FACTORIES (LIMITED). NOTICE Tho various Valuation* and CurtiHcHtr-K rnforrcd to in tho prospectus, beln? now complotrd, intendiiu: sharrljolders may obtain copies of tho samo, an<l of Iho prosptfclus /\v/ii(rh is now re together with application fnrun for shnrns, at tho oflice of Aloxr»ndi;r Xnuuders, Fpq., Aucklnni. date for closing tho share list has bcon fixod as tho Slst July. By order of the Provisional Directors. J. A IT KEN CONNELL, Interim Secretary. Dtinedin, 13th June, 1877. jp ROS PECTUS GUTHRIE AND LARNAOH'S NEW ZEALAND TIMBER AND WOODWARE FACTORIES (LIMITED). Capital, £'2. r »0,000, In ro,ooo jharen of £5 oach ; Depo3lt, payablo on application, 10s per share. Allotment C'al', 103 per share. After which it is proposed to call up £2 per share, in sums of 10a each Call, at intervals of not less than three month', thus extending tho total payments f'ver a peri d of one year from date of allotment. 20,000 sharos, fully paid up, aro retained by Messrs. GuHirio an'l Larnach (-4000 beingallotted for tho Goodwill of tho Business and preliminary ♦.•xpenses of float- | ine tho Company, and th« remaining 10,000 shares | belni: fullv p'tld up by thorn in cash';. ; The remaining 30,' 00 shares are ofTored to tho pub- ! lie : 20,000 in New Ze«l?»nd, and 10,000 reserved for the English and Australian markets, a nur.iler of I which have already been bespoken from each of those ' places. PuovisroNAf. DniKCTons : Alexandor Burt, Fsq., of Mossrs. A. and T. Burt, T)utie<lin. James Robin, Esq.. Carriage Manufacturer, Dunedin. Rolicrt Sparrow, Esq., Dunedin Iron Works, Dunedin. Basil Mevwright, Esq., Solicitor, Dunedin. G. S. Brodrlck, Shipping and Insurance Dunedin. William Esq., Manager New Zealand Meat Preserving Company. Knkanui. Robert Haworth. Esq., of Messrs. R. and T. Haworth, Merchants. Dunedin. A. S. Gibbs, Esq., of Messrs. Gibbs and Clayton, Merchant*, Duncdi-'. John Reld, Esq., Merchant, Auckland. Valuators and Auditors: A. W. Morris, Esq. ; C. FT. Street, Esq. ; and Edmund Smith, Esq. Valuators ron Vksscls : Captain Thomson, Harbour-master, Andrew M'Kinnon, '"sq., Shipbuilder, Mayor of Tort Chalmers. Keith Ramsay, Esq., Shipowner. Solicitors : Messrs. Sievwright and Stout. Bankers The Bank of New Zealand and Branches. Brokers : Mossrs. Connell and Moodio, Prlnccs-strcet, Dunedin. J. B. Bradshaw, l'eq., Princes-street. Dunedin. A. Saundon, Esq., 2, Insurance Buildings, Auckland. This Company is projected for the purpose of pur-eh-iMng and thereafter carrying on Messrs. Guthrie and Lanuieh's well-known W. odware Factories and their extensive Importing Timber and Iron Business An agreement has been entered tnto with Messrs. (•uthrie and Larj neb to sell to the Company their ni;w Factories, tojethcr with all their other buildings, with the entire, machinery, plant, aid *>f every d«!scrinticn a*. th*i nctual netco-t; tho whole of the freehold and leasehold lands held t)y tho Arm at present market value ; and their useful fleet of Coasting Vessel", al.-o at pr-'sent a«-tnal r du«, the new Company taking over all current agreements and uncompleted orders or contracts (For the purpose of these and all otliPT valuations, tho gentlemen respectively nnmcri hereafter hivo been Appointed by mutual agreejnent between Me«srs. Guthrie and Larnach and t)i • Provisional Directors.) It has also been arranged tint the new Company shall take over the entire debts due to the firm secured and unsecured at par, I'ut sha'l bo entitled to receive on all unsecured debts intcrct at the rate of 8 p r cent, per nnnum from the day when stock U taken up to tho date of actual payment, and in addition a commission for collecting of two and a half per cent., Messrs. Guthrie and Larnach guaranteeing tlie entire amount of the unsecured d«-t>ti to the Company. 'J he prudence of this arrangement will at onc.3 bo apparent, when it is remombcrcd that the Company t.hu» keops in its own bands the entiro connection of tlm retiring firm, and thus prevents its customers from being subjected to a possible outside pressure; receiving, moreover, a commission for the collection of debts which its own staff »<f oflircr* will be able to overtake in the usual course of business, without cost to the Company. By agreement between tho Provisional Directors and Messrs Guthrie and Larmch. it has been arranged that tho valuation of tho freehold and leasehold lands shall bo made, by Messrs. A W. Morris, C. 11. Street, and Edmund Smith, accountants ; the valuation of by Captain Thomson, Ot«go Harbour-master, Keith Ramsay, Fsq , shipowner, and Andrew M'Kinnon, Esq.. shipbuilder. Port Chalmers; aud that tho not cost of buildings, plant, machinery, and stock shaU bo ascertained from the books and vouchers of tho retiring Arm by a Commltteo of the Provisional "Directors, asshtcd by competent accountants and exports. Four thousand of tho Company's shares fully paid up have been agreed to be allotted to Messrs. Guthrie and l arnach, as consideration for tho Goodwill of their very remunerative business, th'iy undertaking themselves to pay all preliminary expense? (including brokerage, advertising, c , kc ), in connection with the floating of the Company. Stock will betaken as nn the day the Company outers into possession, and the debts due to the firm will bo taken over as from the came date. The timber business is most extensive, and may fairly be said to bo tho larg'st in the Australasian Colonies. In connection with this branch of tho business, thero aro several Bush Mills, and a large flert of coAsting vessels, employed regularly in carrying supplies for the requirements of tho Factories as well as open markets. The Import, Iron, and Hardware business of tho firm is also very extonalve. These several branches at present represent a most valuable and important part of tho Arm's trade, and the promoters feel confident that they can bo most safely and profitably extended. In the New Zealand Woodware Factories thero are four distinct departments, viz. Ist. Saving, Planing, ami Moulding Factory. 2nd. Door and Sash Factory. 3rd. Tub and Bucket Factory. ■Ith. Furniture and Turnery Factory. The trade of each of theso is capablo of great and profitable extension, and as an evidence of the great outlet for the products of thes-* wo:: Its, Mossrs. Guthrio and Larnach havo been compelled to run the machinery overtimo. on an avcragr tvro nights per week, siwco the opening of tho new Facterics. Tho wholo of tho evtensivo Factories and Stores (specially designed by David Ross, Esq., Architect, of this city) aro substantially built of brick and cement, on solid blnostono and concreto foundations {all timbers being of tho best and most durable descriptions), covering an area, including tho timber y»»rds, of several acres of valuable land in tho chiof atrocts of the city. Tho wholo of tho splendid modern machinery was designed and planned by an eminent engineering firm in Glasgow, under Mr. Guthrlo's immediato supervision while in Britain, and aftor a very careful inspection of the principal woodware factories in America, Britain, and on tho Continent. Each machin® has been firmly placed ou a solid bed of concreto where necessary, to prevent tho possibility of vibration, and to avoid woar and tear. The contract for tho purchase of machinery was « nter-'d into when materials and labour in Scotland were at their lowest. The important advantage to shareholders in a Joint Stock Company of entering into possession of a large n anufaeturing and importing business in full operation on a fixed date, with a thoroughly trained staff of t flicerf? and men and a large mercantile connection without having to wait for the erection of builddings, importation' of plant, stock, &c., or being snhjectcd to any of the risks and delays incidental 1 to tho starting of a new business, and with all preliminary expenses paid, should bo at once apparent to investors. The following special rdvanUscs arej worthy of notice :— Ist. 'I ho wholo of tho machinery in the Factories is driven I>j- ono pair of powerful engines, worked by two men—an engineer and fireman—wh"sc wage* may fuitly be said to constitute the whole expense in cnnecti 'ii with the motive power, as the only fuel required to keep up steam is the sawdust and aluvings drawn from tho difTerent factories as soon as made, by moans of pneumatic tubes, and deposited in a >rge brick saf-jfready for consumption, alongside the boilers. By this me ins all rubbish is utilised and made a source of profit, and the cost of labour reduced 2nd. The four Factories being workod under one roof, a great saving is consequently effected, not only in the motivo power, but also in the management as tho whole can be superintended and controlled by one manager. 3rd. The Tub and Bucket Factory, now in full opcn.tion, has a monopoly of tho supply of theso indispensable articles, there - being no other tub and bucVet factory in tho Australasian Co'onies. A large return may therefore bo looked for to tho credit of this branch of tho business. •Ith. Tho wholo of tho Factories, especially the Kurnlturo Factory, btlng worked in connection with the general timber business, is carricd on most profitably, not only from the fact of tho first cost of tho timber being procured at the cheapest possible rate, but also that large quantities of short cuttings of timber, which would otherwiso oliher be sold us job Ims ut a low price, or sent to the furnace to be consumed as fuel, are utilised. The I'nion Sash and Poor Company in Auckland Is of a similar character to tho New Zealand Woodware l'"act' ries. only being much less extensive. It is, however, a fair criterion to base calculations upon, as to whit may hi; expected from tho Naw Zealand Woodware Factories. Th<! Company referred to h.ts (inly been in active operation for a littlo over four yearn aud has paid annual dividends of 20 percent., beside.i carrying large amounts to reserve fund ; so that, in addition to tho vory handsome yearly dividends, the original £6 aharos of tho Company aro »