Page 4 Advertisements Column 2

Oamaru Mail, Volume I, Issue 366, 26 June 1877, Page 4

PROSPECTUS these works, Messrs. Guthrie and Larnaeh 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 Eoss, 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, Britain, 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 wear and tear. The contract for the purchase of machinery was entered into when materials and labour in Scotland were at their lowest. The important advantages to shareholders in a Joint Stock Company of entering into possession of a large manufacturing and importing business in full operation on a fixed date, with a thoroughly trained staff of offcers 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 in the Factoids is driven by one pair of powerful engines, worked by two men—au engineer and rireroan—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 a 7 ongside the boilers. By this meaus all rubbish is utilised aud 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 cau be superintended and controlled by one mauager. 3rd. The T ib and Bucket Factory, now in full operatiou, has a monopoly of the supply of thece indispensable articles, there beiug no other tub aud bucket factory in the Australasian Colonies. A large return may there"oce be looked for to the credit of this branch of übe business. 4th. The whole of the Factories, especially the Furniture Facl/»-.y, be-'vg worked in connection with the gepec.il timber business, is carried on most profitably, not oal.y from the fact c-f the first cost of the thnber being procuied at the cheapest possible rate, but a'so tuat L> T -ge craititi3S of short cuttings of timber, wh:c\ would o the. wise either be sold as job lots at r low price, or sent to the furnace to be co vumed as fuel, are utilised. The Un'on Sa-b and Door Company in AucUland is of a similar character to the New Zealand "Woodware Factories, only beingmuch kss extensive. It is, however, a (fair criterion to b..-.e upon, as to what may be expected from the New Zea- : land \Voodwi--e Factories. The Company re'e;:cd to lips only been in active operation for a btt'.e over four years, and has paid annual dividends of 20 per cent., besides ca-.Tying laige amounts to reserve fund ; so that, in addition to the very haTdsome yearly d'vidends, the original L 5 shares of the ConrGcU>v ace vow quoted at L 7 10s., and a new issue allowed to shareholders, on which L2 10s. has been paid up solely out of I re-ewe furd, are quoted at L 3 195., making I the p/e:ent to'.al mariret value of the ori-«ri--->al shares Lll, o/ a premium of 120 per cert. In correction with this, it is a fact that the promts shown to have been made in Messrs. Guthrie and Larnaeh's business for the s ne period considerably exceed that made by the Un'on Company iu proportion to the e. pita! invested ; so that the promoters have good reasons for believing that rot only wi'l large dividends be paid regularly by the Company, but that its stock will at ouce become a much-sought-after and favorable investment. j Mr. Guthrie has consented J .o be fully identi:ied with the business for a number of years as Managing Divector. Mr. Guthrie's practical skill and long experience in the trade are well known ; the high position to which the fii-ai has attained under Irs manageireat indicates the measure of prosperity which may reasonably be expected in the i'utiue; and as a proof of Mr. Guthrie's and his p:.vtner's faith iu the future prospests of the concern, they are willing to hold one-fifth esch, or pqua! to two-fi'ths of the ent're capital on their own private account, purchased iu faUy pa'd-up shares. And as a fcuihev p .oof of then- con'ideo.ee in the future prospects of the Company, ''ry have decided to guarantee that the Co ..- pany's net profits for the first three years shall not be less than ten per cent, per annum on the actual cao'ta l . for the time be'ng emp l oyed in the business, or equjl to a sum of about L.0%000 to be paid to the shareholders with:'! "i.hree yea-.-s. They expect and believe that the profits wiU considerably exesed this rate, but investors will by this means kr-ow the rate of their mnr'ui..m pro'it.". By way of further securing the obseivance of the guarantee, the fhji have pgreed to depof-it with the Director's of the Company scvij; o" the ' during the rest yea-: of the value of LSO,O ! JfI, during the second year ol L4O,0 f )'", and duiipg the f'hd year o* L'.'.G '.OO, and to execule a ?egsl coa-ge upon the same in favor of the Company. lnleid'ng iareholders may therefore rest asL-ai-ed that no more legitimate or remuneracwe ouuiet tor capita, or ore presenting better or mo/e extensive future prospects, has ever been offered in New Zealand. The reaeors which have induced Messrs. Guthrie and Larnaeh to take this step are—--Ist. That their te~m o2 partnership expires by effluxion of : me in the course of a i'ew mouths, when it i? the intention of one of the partners to retire from aetive business.