Page 4 Advertisements Column 1

Oamaru Mail, Volume II, Issue 375, 6 July 1877, Page 4

PROSPECTUS PROSPECTUS OF lUTHRIE AND LARNACIFS NEW ZEALAND TIMBF.R 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 i.f not less than three months, thus extending the tot;d payments over a period of one year from date of allotment. 20,000 shares, fully paid up, are retained by Messrs. Guthrie and Larnach (4i)00 being allotted for the Goodwill of the Business and preliminary expenses of floating the Company, and rhe remaining IC.UOO 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, Ksq., 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. Brocbiek, Shipping and Insurance Agent, Dunedin William Moody, Esq., Manager New Zealand Meat-Preserving Company, Kakanui Robert Haworth, Esq., of Messrs. R. and T. Haworth, Merchants, Dunedin A. S. Gibbs, "Esq., of Messrs. Gibbs and Clayton, Merchants, Dunedin Johnßeid, Esq., Merchant, Auckland. Valuators ani> 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. Sievwrighfc and Stout. Bankers: The Eank of New Zealand and Branches. Broker*: Messrs. Connell and MooJie, Piinces-street, Duneuin J. B. Kradahaw, Esq., Frmces-street, Dun edin. This Company is projected for the purpose of purchasing and there -.iter c.irrying oiMessrs. Guthrie and I.arnaih's well-known Wood ware Factories and their extensive Importing'limber and Iron Business. An agreement has been cut*.red into with Messis.uuthrie and 1 ari:ach to sell to tht Company their new Faetoiie--, together wit 1; all their other buddings with the entire machinery, plant, and stock of every dt seription at the actual not cost ; the vholeot the freehold and leasehold l.mds held by the linn at present market value ; and their u-eiul Ike of Coasting Vessel*, also at present actual value, the new Company taUiuir over all cuirent agreements and uncomplet: d orders o: contracts. (For the- purpose of these and ali other valuations, the gentlemen respectively named hereafter have been appointed i>\ mutual agreement betwc n Mes.-rs. Guthrie and I arnach and th.j Provisional ! ire-.-tors. ■ It has al-o been arranged that the new Company shall take over the entire debts duo to the firm secured and un.-ecured at par, but ihad be entitltd to iceeive on all debts intei est at the rc.te of 8 percent. pes annum from the iLiV when steel; is taken up to the date of actual payment, and in addil:cn a commission lor collecting oi two and a h i i:per cent., Messrs. Guthrie and 1.-unaci. guaranteeing the entire amount of the unsecured debts to the Company.

The prudence of this arrangement 'will at once be apparent when it is remenibei e<l that the Company thus keeps m its own hands the entire connection of the retiring firm, and thus prevents its customers from beiiiij subjected to a possible outside pressure, receiving, moreover, a commission lor the collection of debts, v. liieh its own staff of otiicers will be able to overtake in the u-ual course of business, without cost to the Com pany. By agreement between the Provisional Directors and Messrs. Guthrie and Larnaeli, it has been arranged that the valuation o; the freehold and leasehold land-; shall bt_ made by Messrs. A. W. Morris, C. !i. Street. and Edmund Smith, accountants ; the valua tion of vessels by Captain Thomson (Utagi Harbour Master), Keith Itanu-aj*, Esq (ship owner), and Andrew M"Kinnon, Fsq. (ship owner, Fort Chalmers); and that the m t cost of building-:, plant, machinery, and stock shall be ascertained from the books and vouchers of the retiring linn by a Committee of the Provisional I iixctors, assisted by competent accountants and experts. . Four thi'Uaand of the Company's shares, fully paid up, have been agreed to be allotted to Messrs. Guthrie and Laraach, 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 lioatmg ot the Company. Stock will be t:iken as on the day the Com pany enters into possession, ai'.d the debtdue to the tirm 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 Colonies. In connection with this branch of the business, the;e are several Bush Mills, and a large ileet of coasting vessels, employed regularly in carrying supplies lor the requirements of the Faccojii.s as well as open markets. • The Import, Iron, and Hardware Business of the tirm is also very extensive. These several branches at prestnt represent a most valuable and important part of the ihm's trade, and the jiromoters ieel confident thai thev can be most safely and profitably extended. In the New Zealand Woodware Factories tiler*: ulc lour distinct departments. \\z : Ist. >-':iwtng, riamng, and Moulding Factory. 2nd. Door . nd Sash Factory. or<i. iuuaud Kui.k_'t raetu.y. 4cu. luruituie and Tr.r..ery Factory. The trale of each of these is capable of jrroa". and profit ible extension, and as an evidanca of the threat outlet for the products cf