Page 4 Advertisements Column 1

Oamaru Mail, Volume I, Issue 362, 21 June 1877, Page 4

PROSPECTUS G PROSPECTUS OF UTHPJE AND LARNACH'S 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. JLffcer -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 pa: a up, are retained by Messrs. Guthrie and Larnach (4000 l>e;ng allotted for the Goodwill of the Kuincss raid preliminary expenses of Moating the Company, and the remaining 1(5,(100 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 Engiish and Australian markets, a nural er 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, E=q., Solicitor, Dunedin. G. S. Brod ick, Shipping and Insurance Agent, Dunedin William Moody, Esq., Manager New Zealand Meat-Preserving Company, Kakanui Robert Ha worth, Esq., of Messrs. R. and T. Hawortli, Merchants, Dunedin A. S. Gibbs, Ksq , of Messrs. Gibbs and Clayton, Merchants, Dunedin John Reid, Esq., Merchant, A uckland. 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. Solicitors : Messrs. Sievwiight and Stout. Baxkeks: The Bank of New Zealand and Branches. ISroker*: Messrs. Connell and Moodie, Princes-street, Dunedin J. B. Bradshaw, Esq., Princes-street, Dunedin. This Company is projected for the purpose of purchasing and thereafter carrying on Messrs. Guthrie and Larnac-h's well-known Woodware Factories and their extensive Importing Timber and Iron Business. An agreement has been entered into with Messrs. Guthrie and I arnach to sell to the Company their new Factories, together with all their other buddings, with the entire machinery, plant, and stock of every description at the actual net enst; the whole of the freehold and leasehold lands held by the firm at present market value ; and their useful fleet of Coasting Vessels, also at present actual value, the new Company taking over a'l current agreements and uncompleted orders or contracts. (For the purpose of these and all other valuations, the gentlemen respectively named hereafter have been appointed bv mutual agreement between Messrs. Guthrie and Larnach and the Provisional i Erectors.) It-has also been arranged that the new Company shall take over the entire debts due to the tirm secured and un-ecured 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 stock, is taken up to the date of actual payment, and in addition a commission for collecting of two and a half per cent., Messrs. Guthrie and La.-nach guaranteeing the entire amount of the unsecured debts to the Company. The prudence of this arrangement will at once be apparent wdi en it 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 debts, which its <~>wu staif of oiiicers "will be able to overtake in the uaial course of business, without cost to the Company. By agreement between the Provisional Directors and Messrs. Guthrie and Larnach, it ha 3 been arranged that the valuation o: the freehold and leasehold lands shall be made by Messrs. A. N\ Morris, C. H. Street, and Edmund Smith, accountants ; the valuation of vessels by Captain Thomson (Otago Harbour Master), Keith R.im>ay, Ksq (ship owner), and Andrew M'Kinnon, Esq. (shipowner, Port Chalmers); and that the net. cost of building-:, plant, machinery, and stock shall be ascertained from the hooks and vouchers of the retiring linn by a Committee of the Provisional l-irectors, assisted by competent accountants 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 Jill preliminary expenses—including brokerage, adverti.-iirg, etc., etc. ii; connection with the floating of the l.'ompany. Stock will be taken as on the day the Com pany enters into possession, and the debts due to the firm will be taken over as Ironi the same date. The timLer business is most extensive, and may fairly be said to be the largest in the Australasian Co'etnes. Iu 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 Factoiies as well as open markets. • The Import, Iron, and Hardware Business of the firm is .-ilso very extensive. These several branches at present represent a most valuable and impoitanl: pare of the timi't trade, and the promoters feel confident tha: they can be most safely and profitably ex tended. In the New Zealand Wood-,rare Factories there are four distiu -t departments, v.z : Ist. Sawing, Planing, aud Moulding Factory. 2nd. Door . nd Sash Factory. 3rd. Tub and Bucket Factory. 4-th. Furniture and Turnery Factory. The frale of each of these is capable of great and profitable extension, and as an evi aence of the great outlet for the products 0^