Page 4 Advertisements Column 2

Oamaru Mail, Volume I, Issue 364, 23 June 1877, Page 4

PROSPECTUS these works, Massrs. Guthrie and Larnach have been compelled to run the machinery overtime, on an average of two nights per week, since the opening of the new Factories. . . The whole of the extensive Factories and Stores (specially designed by David Ross, Esq., architect, of this city) are substantially built of brick and cement, on solid bluestone and concrete foundations (all timbers being of the best and most durable descriptions), covering an area, including the timber yards, of several acres of valuable land in the chief streets of the city. The whole of the splendid modern machinery was designed and planned by an eminent engineering firm in Glasgow, under Mr. Guthrie's immediate supervision while in Britain, and after a very careful inspection of the principal woodware factories in America, B-.itain, and on the Continent. Each machine has been firmly placed on a solid bed of concrete, where necessary, to prevent the possibility of vibration, and to avoid woar and tear. r j contract for the purchase of machinery " filtered into when materials and labour . 1 and were at their lowest. ! important advantages to shareholders in a Joint Stock Company of entering into p ;v:a-:- ion of a large manufacturing and imporUug business in full operation on a fixed date, with a thoroughly trained staff of officers and men and a large mercantile connection without having to wait for the erection of buildings, importation of plant, stock, etc., or being subjected to any of the risks and delays incidental to the starting of a new business, and with all preliminary expenses paid, should be at once apparent to investors. The following special advantages are worthy of notice : Ist. The whole of the machinery m the Factories is driven by one pair of powerful engines, worked by two men—an engineer and fireman—whose wages may fairly be said to constitute the whole expense in connection with the motive power, as the only fuel required to keep up steam is the sawdust and shavings drawn from the different factories as soon as made, by means of pneumatic tubes, and deposited in a large brick safe, ready for consumption alongside the boilers. By this means all rubbish is utilised and made a source of profit, and the cost of labour reduced to a minimum. 2nd. The four Factories being worked under one roof, a great saving is consequently effected, not only in the motive power, but also in the management, as the whole can be superintended and controlled by one manager. 3rd. The Tub and Bucket Factory, now in full operation, has a monopoly of the supply of these indispensable articles, there being no oilier tub ancl bucket factory in the AustralaF:„iu Colonic. A large return may there "ore be looked for to the credit of this branch "f the bmi'isps. 4t.li. The whole of the Factories, especially the Furniture Factory, being worked in connection with the general timber business, is can led on most pro'.! uib'y, not only from the fact of the first cof:t of the timber being procurd at the cheapest possible rate, but also that large quantities of short cuttings of timber, which would otherwise either be ;jold as job lot" at a low price, or sent to the furnace to be consumed as fuel, are utilised. The Union Sash and Door Company in Auckland is of a similar character to the New Zealand Woodware Fcetories, only being nvich less extensive. It is, however, a v "a'i criterion io k'.e calculations upon, as to what may be expected from the New Zoa- ]; -./><! Woodware Factories. The Company re?f"Wid to has only been in active operation for a little over four years, and has paid annual dividends of 20 per cent., besixl-s carrying large amounts to reserve fund ; lo that, in addition to the very_ handsome yearly dividends, the original L 5 shares of the Company ave now quoted at L 7 10s., and a new I"ue allotted to shareholders, on which L2 10s. lias been paid up solely out of reserve fund, are quoted at L 3 10s., making the present total market value of the original shares Lll, or a premium of 120 per cent. In connection with this, it is a fact that the pro;its shown to have been made in M"' . Outline and Larnacli's business for ti-e s: e period considerably exceed that m; - . lo bv the Union Company in proportion t.) the c pifcJ. invented ; no that the premo-t_-V) have good reasons for believing that not >- v. "1 large dividends be paid reguhulv r" 3 Comp.ny, but that its stock will at bcco'.-e a it inch-:-ought-after and favor-A-jp ' icoc-t'xe-ji;. "*•11 . Guthrie has consented to be fully tijxl with the business for a number of vcr: - " as Managing Director. Mr. Gutbries pis.;l'cal skill and long experience in the are well known ; the high position to v.-liich the firm has attained under his imnr. indicates the measure of prosperity which may reasonably be expected in the future; and as a proof of Mr. Guthrie's and his partner's faith in the future prospect: of the concern, they are willing to hold onc-iii'th each, or equal to ths of the entire capital on their own private account, pureh?-ed in fully paid-up shares. And as a. further proof of their confidence in the fu'-ure prospect? of the Compr.ny, <hey have decided to guarantee tliat the Co.nprnys net profits for the ijrst three years shall not be less than ten per cent, per annum on the actual capital for the time being employed in the business, or equal to a sum of about L~",O0 to be paid to the shareholders within three years. They expect and believe that the proiits will considerably exceed this rate, but investors will by this means know the rate of their nruimr.m pio'.tßy way of further securing the observance of the guarantse, the firm have sgreed to deposit with the Directors of the Company scrip of the Company during the iivst y~ar of the value of LSO,C3'», during the s: ond y;"r of L4'>,oCo, and during the third of L'2nX'lo, and to execute a legal charge upon the same in favor of the ComP- TIntending shareholders may therefore rest a-.unrd that no more legitimate or rennme-. rat've outlet for capital,, or one presenting better or more extensive future proepects, ha? ever bren offered in New Zealand. The reacons which have inducod Messrs. Guthrie and Larnach to take this step are—--Ist. That their term of partnership expire-: by effluxion of time in the course of a few months, when it is the intention of one of the partners to retire from-active busi*.