Page 3 Advertisements Column 1

New Zealand Herald, Volume XXV, Issue 9116, 26 July 1888, Page 3

2E» Efc OSPECTUS ' '.is . '.S of Tii* ; .•.7 ' • : |•; V:'^ Registered under 'the " Companies' Statute, 1864 ' ; - CAPITAL: £1,200,000 • ... - IN 600,000 SHAKES OF £2 EACH, Of which 4:50,000 Shares are now offered to the Public on the following terms of payment, viz.: ss> on Application; ss. on Allotment; ss. in Two Months from Application; ss. in Three Months from Application.; It is not anticipated that it will be necessary to maize arty farther Calls, but in any case they will not be made in larger sums than 2s. 6d per Share, nor at intervals of less than, three * months. The, remaining 150,000 Shares are retained for the "Vendors, as hereinafter stated. A. Dividend of 10 per cent, per annum upon the Paid-up Capital is gucfranUed for Four ITears by the. Vendors. . . ;; ~ ; LOO a OOO SHAKES AIRE SPECIALLY 'RESERVED FOR NEW ZEALA3STD.' ;• Ji '< i " " ■ ■ •'.•- v cc.i ' ' DIRECTORS: . " ; ; 'J ■ Host. JAMES BALFOUR, MX.C., Messrs. Balfour, Elliott & Co., Limited, ROBT. HARPER, Esq., M.L.A., Messrs. Bott. Harper & Co. GEORGE LUSH, Esq., Messrs. Newell & Co. GEORGE H. MANN, Esq., Messrs. Ettershani, Eaglestons ft Mafia. HARVEY PATTERSON, Esq. Hon. Lieut-Colonel F. T. SAEQOOD, h.M.Gr., M.L.C. JOHN SHARP, Esq., Messrs. John Sharp & Sons. ; ,.: Managing Director: Local Director for New Zealand : DAVID BLAIR, Esq., Market Street, Melbourne. GEORGE HOLDSHIP, Esq., Auckland Solicitors: Negotiating Brokers: :%:.• - Mfissas. MADDEN & BUTLER, 75, Collins Street West, Melbourne E. T. DUFAUR, Esq., Auckland. Messrs. STEWART & GARLICS, Auckland. Bankers : . '■ - BANE: OF AUSTRALASIA. BANK OF NEW SOUTH WALES. - BANK OF NEW ZEALAND. THE CITY OF MELBOURNE BANK, Ltd. . Secretary (pro tern.): A. M. VALANTINE," Union Buildings, Chancery Lane. . Brokers Melbourne : Brokers—Sydney : Messrs. CLAUSE & CO. WM. NOALL, Esq., Collins Street East. JAMES DONALDSON & CO., Limited. FRASER & CO. ' / , ' CHAPMAN & WAKLEY, Limited. Messes. BROCK BEOS., Metropolitan Chambers, Collins Street, East. HERBERT WILSON & CO., Limited, Collins Street West. ' Applications for Shares to be made to Mr. George Holdship, at the Offices of the jluchland Timber Company, Custom Street West, Auckland. • - : Prospectuses and Application Forms at the "Herald" and "Star" Offices, or from any of the leading Brokers. V ,

mHE Company is formed for the purpose of acquiring and J- completely taking over all rights and obligations under Contracts of purchase recently made of the Properties, Busi- • nesses and Assets of the companies and owners hereunder set out, which include nearly all the present Kauri Forests alienated from the Crown, and the most important Saw-mill interests in the North Island of New Zealand, and for completing such ■ contracts, and carrying on, and working all, or so many as the Directors may think fit, of such Saw-mills most of which are lat present in full operation, with the view to trade principally in sawn and dressed wood, and for any other purposes men* tioned in the Memorandum of Association that may be required. These Contracts the Vendors have, after negotiations, conducted at great expense and trouble, and extending over a considerable period, been able to secure on extraordinary favourable terms, being aided- thereto. by the extreme competition between the numerous proprietors. The documents themselves, or certified copies, can be inspected at the offices of the Solicitors to the Company, in Melbourne ; and Auckland, together with an approximate statement of the purchase moneys, so far as they can be ascertained. It is Impossible at present to state these purchase moneys exactly for various reasons, such as that the purchases include large stocks of timber of yet undetermined quantities; in some instances the purchases are going businesses, and some of the contracts are for the future supply of timber to be paid for at specified rates. The Vendors to the Company are—Messrs. George Holdship, Harvey Patterson, John Sharp, William Smith, George Napier Turner, William Harper, John Moodie, George Lush, George Shaw, Robt. J. Harvey, George Hay Mann, Matthew Lang, Matthew Henry Davies, Edwin C. Elliott, John H. Patterson, Alexander Fraser Ross, Michael Willis Fergusson, David Blair, Charles F. Orr, and Thomas Christian ; and the following are the principal concerns which they have acquired, viz.: Auckland Timber Company, Limited, including this Company's Mills at Sydney, Auckland, Port Charles, ' Whangaroa, Mongonui, and Kennedy's Bay, with rights to Forests and Freehold Lands in the immediate neighbourhood. The Sydney property has an area of about five acres, with a valuable frontage to Sydney Harbour, the Mill and Site being valued at the present time " at £40,000. The Auckland Mill Site has also a large Water Frontage of greatly increasing value, and the Mill is most complete and extensive, end is valued at £40,000. The Kauri Timber Company is to take over with these Properties the steamers "Terror,""Yankee Doodle," and "Hokianga," and the schooners Mariner," " Kauri," and " Rata," and the whole of this Company's Assets and Liabilities as a going concern. New Zealand Timber Company, Limited, including Mills at Auckland, Whangapoua (two mills), and Freeman's Bay, with Freeholds, including Lands believed to be auriferous. The Cutters "Fanny," "Nellie," "Gipsy," and the Barges "Progress" and " Waitemata," and several Punts, Boats, etc., are taken over by the Company. On the property there are three miles of - Tramway, with three Locomotives, five Trucks, and Gear. The Town Leaseholds have valuable Frontages to the Main Streets. This Property is to be taken as a going concern from 31st December last. The following Extracts are from the evidence given by Mr. Allison Smith. Locomotive Superintendent on 'the Victorian Railways, before the Forests Commission in April, 1887. Your position, both in New Zealand and here, affords you exceptional opportunities of knowing the value of col' nial timbers ?—Yes. Would you be good enough to say if any of the colonial timbers are used ; in New Zealand ?—Nothing else but the colonial timber is used. And what timber principally ?-For the framework, both of carriages and waggons, blue gum and ironbark. Grown where ?-On this Bide. Some of it comes from Tasmania, and some from New South Wales—jarrah and some of the other gumsare also used. We do not know the names of them over there so well as they are Imown here, but all the eucalyptus timbers are used exclusively for the framing of carriages and waggons, and nothing else has been used then) for the last twelve years. You have spoken of the framework; now as to the other parts 2— to the other parts, we use kauri and rimu principally. Are both these New Zealand timbos ♦—Yes, both of these are New Zealand timbers. That applies to the carriages and waggons. Are the sides of the waggons kauri also?-Yes, both Bides, ends, and floors. to «£ tod that the wood answers as well as the hardwood you have been Vj»6aMBS e* far frames No, these timbers are pines, and are not , Specially suitable for framework. They take the place of the Baltic timber which is used here for similar purposes. fn Victoria '-In Victoria; so that you are bringing inferior timber all the way from the Baltic, when you can get New Zealand timber close at hand, and of better quality. _ And of what kind of timber are the frameworks of carriages constructed in Victoria ?—A large quantity of black wood has been used, and also large quantities of teak wood imported from Eangoon. Do you consider that the teak is equal to the hardwood of New Zealand - D There are many advantages in teak. It to a f "'mber and •«*» •worked but it is a very expensive one, and 1 think that, under hta cumstances, the balance would be in favour of the Colonial umber by a very long way. ' „ , , So this curious state of things exists at the present time " ew timber" they are constructing carriages and waggons of Australian timber when we in Australia are constructing our carriages an wag. Indian timber?-Not waggons—carriages. Carriages only ?—Yes; but in the waggons a great deal of timber from th» Baltic is used. . Notwithstanding that the Australian timoer J—New Zealand timber m sure suitable for the sides and ends and floors. «