Page 4 Advertisements Column 1

Oamaru Mail, Volume II, Issue 373, 4 July 1877, Page 4

PROSPECTUS PROSPECTUS OF Q_UTHEIE AND LARNACH'S HEW 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, 103. per share. After -which it i 3 proposed to call up £2 per Bhare, in sums of 10s. each Call, at intervals of not les3 than three months, thus extending the total payments over a period of one year from date of allotment. 20,000 shares, fully pa : u up, are retained hy Messrs. (Juthrie ami Larnach (4000 being allotted for the Goodwill of the Bu-iness and preliminary expenses of floating the Company, ami the remaining lfi,(JO!) shares being fully paid up l>y them in cash). The remaining 30,000 shares are offered to the public; 20,000 in New Zealand, and 10,000 reserved for the Eng'ish and Australian maikets, a number of which have already been bespoken from each of those places. Provisional Dirfctors. Alexander Hurt, Ksq., of Messrs. A. and T. Burt, Dunedin James Robin, Esq., Carriage Manufacturer, Dunedin * Robert Sparrow, Esq., Dunedin IronWorks, Dunedin Basil isiev wright, Esq., Solicitor, Dunedin. G. S. Bnxbick, Shipping and Insurai;ce Agent, Dunedin William Moody, Esq., Manager New Zealand Meat-Prese. ving Company, Kakanui Robert Haworth, Esq., of Messrs. R. and T. Waworth, Merchants, Dunedin A. S. Gibhs, Ksq , of Messrs. Gibbs and Clayton, Merchants, Dunedin John Rt-id, E>q , Merchant, Auckland. Valuators ani> Auditous : A. W. Morris. Esq ; C. H. >tn.efc, Esq.; and Edmund Smith, l-sq. Valuators for Yes-els : Captain Thomson. Harbor-Master Andrew M'Kinnon. Ksq., Shipbuilder, Mayor of Poit Chalmers Keith Ramsay, E.-q., Shipowner. Solicitous : Messrs. Sievwright and Stout. Bankers: The Bank of New Zealand and Branches. Broker-; : Messrs. Connell and Moodie, Piiuces-street, Dunedin J. B. Hradshaw, Esq., Princes-street, Dunedin.

This Company is projected for the purpose of purchasing and thereafter carrying on Messrs. Guthrie and Larnaeli's well-known "Woodw.ire Factories and their extensive Importing Timber and Iron Business. An agreement has been entered into with Messrs. Guthrie and 1 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 cost; 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 all current agreements and uncompleted orders or contracts. (For the purpose 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 I >irectors.) 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 thall be entitled to receive on all unsecured debts interest at the rate of S per cent, per annum from the day when stock is taken up to the date of actual payment, and in additicn a commission for collecting of two aud a ha hper cent., Messrs. Guthrie and Larnach guaranteeing the entire amount of the unsecured debts to the Company. The prudence of this arrangement will at once be apparent when it is remembered that the Company thus keeps in its own hands the entire connection of the retiring lirm, and thus prevents its customers from being subjected to a possible outside pressure, receiving, moreover, a commission for the collection of debts, which its own staff of oliicers will be able to overtake in the u-ual course of business, without cost to the Company. By agreement between the Provisional Directors and Messrs. Guthrie and Larnach, it has been arranged that the valuation of the freehold and leasehold lands shall be made l»y Messrs. A. W". Morris, C. H. Street, and Edmund Smith, accountants; the valuation of vessels by Captain Thomson (Otago Harbour Master), Keith ltamsay, Esq (shipowner), nnd Andrew M'Kinnon, Esq. (shipowner, Port Chalmers); and that the net cost of budding-, plant, machinery, and stock shall be ascertained from the books and vouchers of the retiring firm by a Committee of the Provisional directors, assisted by competent accountants and experts. tour 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 all preliminary expenses—including "brokerage, advertising, etc., etc. —in connection with the floating of the Company. Stock will be t;.ken as 011 the day the Com pany enters into j ossession, 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 Coienies. In 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 lequirements of the Factoiies as well as oj en markets. The Import, Iron, and Hardware Business of the firm is "also very extensive. These several branches at presmt represent a most valuable and impoitant part of the firm's trade, and the promoters reel confident that thev can be most safely and profitably extended. In the New Zealand Wood ware Factories taere are four distinct departments, viz : Ist. Sawing, Planing, aud Moulding Factory. 2nd. JJuur .nd Sash Factor}', ord. 'luL> and Uucket Factory. 4th. Furniture aud Turnery Factory. The trade of each of these is capable of prea; and profit ible extension, and as an evidsaaa of the great outlet for the products of .