Page 1 Advertisements Column 5

New Zealand Herald, Volume XIV, Issue 4899, 30 July 1877, Page 1

Public CoEipanies. AND T.ARNACII'S NKW Air TtMIiKII ANII Wi)«)H'AliK 1.-ACTOUIi:-; '.I.IMITF.D). notice Tho various Valuations and CNirtific.atcn rofcrrcd to in tho prospectus, now completed, intending shareholders may obtain copies of tho same, and of the piospectu.s (which is now ro-is?ucd). together with application forun for fhires, at the oftice of Alexander Saunders, Ifq., Auckland. T' o dato for closing tho share list, has been Oxed as the 31nt July. Ry order of tho ProvislonM Directors. J. AITKEN CONNELL, Interim Secretary. Dunedin, 13th Juno, 1577. TOKOS PECTUS Ji- or OUTFfRIJ3 AND DARNAOII'S NKW ZEALAND 1 TUBER AND WOODWAItE FACTORIES (LIMITED). Capital, £2T»0.000, In fO.OOO shares of £5 each ; payable on application, 10s per share. Allotment C'al', 10s per sharo. After whleh U is proposed to call up C 2 per sharn. in funis of 10s each Call, at Intervals of not less than three months, thus extending the total payments over a peri d of one year from date of allotment. 2n,000 shares, fully paid up. arn retained by Messrs. Cuthrie and Larnach (4000 being allotted for tho Goodwill of the and preliminary of floating the Company, and the remaining IG,OCO shares bMmr full* p-iid up by them in cash';. The remaining 30,' 00 shares are offered to tho public : 20,000 in New Zealand, and 10.000 reserved for •ho Engli.-h and AnKtralian markets, a numler of J which have already been l.espoken from ei.ch of thoso lilaoes. PI'.OVTStONAL D'RKCTORS \ Alexander Hurt, Esq., of Me.vrr?. A. and T. Burt, Dunedin. •Tames Robin, E?."p, Carriage Manufacturer, Dunedin. Robert Sparrow, Efq., Dun' din Iron v -*ovks, Dunedin. Easil -ievwright, Esq., Solicitor, Dunedin. O. S. Bmdrick, Shipping and - Insurance Dunedin. V.'illiam Moo lie, Esq., Manager New Zealand Meat Preserving Companv, Kakanid. Rohort H,worth. Esq., of Messrs R. and T. Ilaworth, Dunedin. A. S. Uihbß, Esq , of Mes:irs. Gibbs and Clayton, Mftrchant*. Dnnedi". John Re!d, Edq , Merchant, Auckland. Valuators and A. \V. Morris, Esq. ; C. n. Street, L-jq. ; and Edmund 1 Smith, Esq. Valuator* roR VKSAKLH : ; C.ptain Thomron. Harbour-ma^t t. Andrew M'Kinnon, i f.q. Shipbuilder, Mayor of Port Chalmers. Keith Ramsay, Esq., Miipowner. Solicitors : Messrs. Sievwrlght and Stout. Bannuns Tho Bank of New Zealand and Hranches. BnoKRRS : Messrs. Connoll and Moodie. Princes-street, Dunedin. J. B. Bradshaw, Esq., PrlnceK-street, Hnncdln. A. Hauu lcr% Esq., 2, Insurance Buildings, Auckland. This Company is projected for the purpose of pur-cha-injr and thereafter carrying on Messrs. Guthrio stid Larnaeh's well-known Wcodwaro Factories and their extensive Importing Timber and Iron Bus'nc<s An agreement has been entered Into with Messrs. Cnthrio And Lar- nch to sell 'o tho r.nrapany their n'-w Factories, together with all their other buildings, with the entire machinery, plant, and st~ck «-f every (lescrii'tion at the actual net co't; the whole of tho freehold :<nd leasehold lands heh' by the firm at prc-.«<-nt market valu« : and tlieir useful flo.»t of Coasting Ves«el", at pr actual value, the new Compinv taking over all current and uncompleted orders or contracts (For the purfose of these a-'t all oth'T valuations, the gentlemen respectively n:»rned hereafter havo been appointed by mutual ngr'Tinrnt between .Messrs. Guthrie and Larnach and «h Provi.-ional Directors.) It has also been arrange t th-d the new Company shall take over tlio entire fioV.s due to the firm secured and unsecured at pa*, intrrc » at the rate of S p r cent, per ■'nnmn7rom ft tiie d iv wh.-n stock is taken up to the date of actual payment, nnd in addition a commission for collecting of two and a half per cent., Messrs. Guthrie and Larna<dt fT<iaranfeeing tho entire amount of the unsecured d«'!.t". to the Compiny. '»'lie prudence of this arrangement will at once be appirent, when it is remembered that tho Company thu" keeps in its own hands the entiro connection of the retirinc firm, and thm prevents its customers from being pubjected'to a possible pressure; receiving. moreoTer, a commission for the collection of debts which its own PtnfT of oilmen will be able to overtako in tlio usual course of business, without cost to the Company. T.r agreement botwoen tho Provisional Directors and Messrs Guthrie and Larmrh, it. has b-en arranged that the valuation of the freehold and leasehold lands shall be made by Messrs. a W. Morris, C. H. street, and Edmund Smith, accountants ; the valuation of ve.<fcls by Captain Thomson, Ot.igo Keith Ramsay, Esq., shipowner, and Andrew M'Kinnon, Esq.. shipbuilder. Port Chalmers; and that the net cost of buildings, plant, machinery, and stock shad bo ascertained from the books and vouchors of tlio retiring Arm by a Commi" tee of tho Provisional Directors, assisted by competent accountants and experts. Four thousand of thft Company's slnres fully paid up havo b»-en agreed to be allotted to Messrs. Guthrie and lainach. as consideration for the Goodwill of their very remunerative business, undertaking themselves to pay all preliminarj' expenses (including brokera"e, advertising, ' c , ), in connection with the floating of the Company. Stock will betaken as on the day tho Company enters into possession, and the debts due to the firm will bo taken over as from the *Atne dat<\ The timbor 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, there arc several Bush Mills, and a large fleet of coasting vessels, employed regularly In carrying supplies for th" requirements of the Factories as well fts oron markets. The Import. Iron, and Hardware business of the firm is also very extonsive. These several branches at present represent a mostvaluablo and Important P »rt of the firm's trade, and the promoters fcftl confident that they can bo most safely and profitably In the New Zealand AVoodwaro Factories thern aro four distinct departments, viz. : — Ist. Saving, Planing, and Moulding Factory. 2nd. Door and Sash Factory. 3rd. Tub ami Bucket Factory. 4th. Furniture and Turnery Factory. The trade of • ach of these Is enpa'dc of trreat and profitable extm.sion. and as an evidence of the great outlet for the products of thrs? works, .Messrs. <«"uthrio and Larnach havo been compelled to run tho machinery overtimo. on an average two nights per week, sir.ee the opening of tho new Factories. Tho whole of the extensive Factorlos and Stores (specially designed by David Koss, Esq., Architect, of this city) are substantially bnilt of brick and cement, on solid blucstouc and concrete foundations (all tlmbors being of tho best and most durable descriptions), covering an area, including tho timber yr>rdsr, of several acrcs of valuablo land in tho chief streets of the cttj*. The whole of tho splendid modern machinory was designed and planned by an eminent engineering Arm iu Glasgow, under .Mr. Guthrie's immediate supervision while in Britain, and after a very careful inspection of the principal woodwarc factories in America, Pritain, and on tho Continent. Each machine has been firmly placcd on a solid bed of concrete where necessary, to prevent the possibility of vibration, and to avoid wear and tear. Tho contract for the purchaso of machinery was (uterr-d into whon materials and labour in Scotland were at their lowest. Tho important ndvantfu c to shareholders in a Joint Stock Company of entering into possession of a largo r: anufacturin;: and importing business in full operation on a fixed date, with a thoroughly trained staff of otfiee.rs and men and a large mercantile connection without having to wait, for the erection of builddins*, importation of plant, stock, &e., or being subjected to any of tho risks and delays incidental' to the starting of a new business, and with all preliminary expenses paid, should be at once apjvirent to Investors. Tlio following special advantages fcrcj worthy of notice:— Ist. 'f lie wholrt of the machinery fn the Factories Is driven by one pair of powerful engines, worked by iv.'O men—an engineer and fireman—whoso wages :my f sirly be said to constitute the wholo expense in connect!'.n with the ?notivc power, as the only fuel required to keep up steam is tho sawdust and drawn from the difi'orent factories as soon as made, by means of pneumatic lubes, and deposited in a Urge brick for consumption, alongside the boilers. By this lueuis all rubbish is utilised and m;rde a source of profit, and tho cost of labour reduced to a minimum. 2nd. Tho four Factories being workod under one ioof, a great saving is consequently effected, not only in the motive power, but also iu the management. as the wholo can be superintended and controlled by ono manager. 3rd, Tho Tub and Bucket Factory, now In full operation, has a monopoly of the supply of the'-O inarticles, there being no other tub and bucket factory in tho Australasian Oo'onies. A large U-turn may therefore be looked for to the credit of t ids branch of the business. •Ith. The. whole of the Factories, especially tho furniture Factory, being worked iu connection with the general timbe'r bu.sincts. is carried on most profitably, not only from tho fact of the first cost of tho timber being procured at the cheapest possible rato, but al*o that large qunntitles of short cuttings of timber, which would otherwise eilher bo sold as job Imsiata low price, or sent to tho furnaco to bo consumed as fuel, aro utilised. Tho Unio'i Sash and Door Company in Auckland Is of a similar character to the New Zealand Woodware Fact ries. only being much lrss extensive. It is, howev. r, a fa.r criterion to base calculations upon, as to whit may be expected from the Naw Zealand Wnoihvare Factories. The Company referred to Ims (•nly been in active operation for a little over four y<;«is and has paid annual dividends of 20 percent., le-.-iides carrying Urge amounts to reserve fund ; so that, in addition to the very handsome yearly dividimla, tho original £5 bhurud of !»ho Cutupauy aro :