Page 3 Advertisements Column 3

Oamaru Mail, Volume I, Issue 361, 20 June 1877, Page 3

I PROSPECTUS PROSPECTUS OF GUTHRIE AND LAENACH'S I NEW ZEALAND TIMBER AND WOODWARE FACTORIES (LIMITED). Capital, £250,000, In 50,000 shares of £5 each ; Deposit, payable on application, 10s. per share ; allotment Call, 10s. per share. After which it is proposed to call up £2 per share, in sums of 10s. each Call, at intervals of not less than three months, thus extending the total payments over a period of one year from date of allotment. 20,000 shares, fully paid up, are retained by Messrs. Guthrie and Larnach (4000 being | allotted for the Goodwill of the Business and preliminary expenses of floating the Company, and the remaining 16,000 shares being fully paid up by them in cash). The remaining 30,000 shares are offered to the public; 20,000 in New Zealand, and 10,000 reserved for the English and Australian markets, a number of which have already been bespoken from each of those places. Provisional Directors. Alexander Hurt, Esq., of Messrs. A. and T. Burt, Dunedin James Robin, Esq., Carriage Manufacturer, Dunedin Robert Sparrow, Esq., Dunedin Iron Works, Dunedin Basil Sievwright, Esq., Solicitor, Dunedin. G. S. Brod=ick, Shipping and Insurance Agent, Dunedin William Moody, Esq., Manager New Zealand Meat-Preserving Company, Kakanui Robert Hawortb, Esq., of Messrs. R. and T. Haworth, Merchants, Dunedin A. S. Gibbs, Esq., of Messrs. Gibbs and Clayton, Merchants, Dunedin John Reid, Esq., Merchant, Auckland. Valuators and Auditors : A. W. Morris, Esq.; C. H. Street, Esq.; and Edmund Smith, Ksq. Valuators for Vessels : Captain Thomson, Harbor-Master Andrew M'Kinnon. Esq., Shipbuilder, | Mayor of Port Chalmers Keith Ramsay, Esq., Shipowner. Solicitous : Messrs. Sievwright and Stout. Bankers: The Bank of New Zealand and Branches. Brokers: Messrs. Connell and Moodie, Princes-street, Dunedin J. B. Bradshaw, Esq., Princes-street, Dun-

ecbn. "■$ This is projected for the purpose of purchasing '-Jpjjjd. thereafter carrying on Messrs. Guthrie.abcl Laniach's well-known Woodwnre Factorie%aiul their extensive Importing Timber and S»n Business. An agreement has beeiv entered into with Messrs. Guthrie and, to sell to the Company their new Factotie=, together with all their other buddings, with the entire machinery, plant, and stock of evfery desci-iption at the actual net cost ; the walk of the freehold and leasehold lands held firm at present market value ; and their tfeeful fleet <Jf Coasting Vessels, also at presen\.actual value, the new Company taking over all current agreements and uncompleted orders or contracts. (For the pui-pose of these and all other valuations, the gentlemen respectively named hereafter have been appointed by mutual agreement between Messrs. Guthrie and Larnach and the Provisional Directors.) It has also been arranged that the new Company shall take over the entire debts due to the firm secured and unsecured at par, but shall be entitled to receive on all unsecured debts interest at the rate of:-] 8 per cent, per annum from the day when is taken up to the date of actual payment, and in addition a commission for collecting of two and a half per cent., Messrs.gGutlirie and Larnach guaranteeing the entite amount of the unsecured debts to the Company. The prudence of this arrangement will at once be apparent whenjit is remembered that the Company thus keeps in its own hands the entire connection/of the retiring firm, and thus prevents its/customers from being subjected to a possible outside pressure, receiving, moreover, a commission for the collection of-idebts, which its own staff of officers will b\ able to overtake in the usual course of -business, without cost to the Company. % By agreement between the Provisional Directors and Messrs. Guthrie and Larnach, it. has been arribged that the valuation of the freehold an% leasehold lands shall be made by%lessrs. 1l W. Morris, C. H. Street, and Edmm*dSmit% accountants ; the valuation of Thomson (Otago Harbour Master), Esq. (shipowner), and Andrew feKinkn, Esq. (shipowner, Port Chalmers) the net cost of buildings, plant, machinery, and stock shall be ascertained from the books and vouchers of the retiring firm by a Comthe^rovisional Directors, assisted by conipelent accountants and experts. Four\jshQusandV>f the Company's shares, fully pafcMip, have\beeii agreed to be allotted to Messrs. Guthrie\,and Larnach, as consideration for the Gabdwill of their very remunerative businessjjithey undertaking-them-selves to pay all preliminary expenses—including brokerage, advertising, etc., etc. —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 Colenies. In connection with this branch of the business, there.are several Bush Miljs, and a large fleet of coasting vessels, employed regularly in carrying supplies for the requirements of the Factories as well as open markets. of the firm is also very extensive. These several branches at present represent a most valuable and important pare of the firm's trade, and the promoters feel confident that they ean be most safely and profitably extended. In the New Zealand Woodware Factories there are four distinct departments, viz : Ist. Sawing, Planing, and Moulding Factory. 2nd. Door and Sash Factory. 3rd. Tub and Bucket Factory. 4th. Furnibure and Turnery Factory. <- The trade of each of these is capable of great and profitable extension, and as an evi. dence of the great outlet for the products o.