Page 4 Advertisements Column 2

Oamaru Mail, Volume II, Issue 381, 13 July 1877, Page 4

PROSPECTUS these works, Msssrs. Guthrie and Larnach have been coinpeljril to run the machinery ov-rtinie, on an average of two nights per week sinco the opening of the'new Factories.

The whole of the extensive Factories and Stores (specially designed by David Ross, Ksq , architect, of this city) are substantially built of brick and cement, on solid Milestone and concn te foundations (all timbers being of the best and mo<t durable descriptions , covering an area, including the timbe yards, of several acres of valuable land in the chief streets of the citv.

Th<- ; whole cf the splendid modern machinery was design d and planned by an eminent engineering firm in (Hasgow, under Mr. Guthrie's imin-diate supervision whiie in Britain, and after a very careful inspection of the principal woodware factories in America. Britain, and on the Continent. Each machine has heen (irmly placed on a solid hed of concrete, where necessary, to prevent the possibility of vibration, aud to avoid wi ar and tear.

the purchase of machine?'} vhcn materials and laboui ivas enti'rod into when material in Srnfl.-nid umn n. L . their lowest

The important advantages to shareholders in a Joint Stock Company of entering into possession of a large manufacturing and importing business in lull operation on a fixed date, with a thoroughly tiained staff of ofticers 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 ri ks and delays incidental to the starting of anew business, and with all preliminary expenses paid, should be at ouce apparent to investors. The following special advantages are wort'iv of notice :

Ist. The whole of the machinery m the Factories is driven by one. pair of powerful S!i"ines, worked by two men—an engineer r.id fireman—who-c wages may fairly be said to constitute the whole expense in connection with the motive power, as the only fuel renrrcd to keep up steam is the sawdust and -h:i.vi:igs drawn from the dilfereut factories as soon as made, by means of pneumatic tubes and deposited in a large brick safe, ready for cinnunption a'nngside the boilers. Hv tins means :J1 rubbi-h is utilised and made a sm:', e of profit, and the cost of

BUT ALSO

FACTORY

The Union Sash ana Door Company m Auckland is of a similar character to the New Zealand Woinlware Factories, only being much less extensile. Jt is, however, a fair cii'erion to base ea'cula ions upon, as to what may he expected i'nnn the New Zealand Woodv. are Factories. The Company refer: .-d to has only been in active operation for a i.ltie over lour years, and has pai:i annual dividends or 2'J per cent., hesidecavr\ing la-'ge amounts t-i reserve fund; so that, in addition to the very handsome, yearly dividends, the oiiginal L."> shares of the Company are now quoted at L 7 10?., and a new is-ue all.itred to s!iaie!iolders, on which L'2 Ids. has been paid up solely out of reserve iund, are quoted at I 3 lUs., making the present total market value of the original shares Lll, or a premium of I'2o per

MESSRS.

M". Guthrie has consented to bo fully identified with th'j business for a number oi year-; as .Managing Director. Mr. Guthrie's practical skill and long experience; in the trail-.: are well known ; the high position to which the linn has attained under his management indicates tl;e measure of piosperity which may reasonably lie expected in the Juture; and as a proof of Mr. Guthrie's and his partner's faith in the future prospects of the concern, they are willing to hold one-fifth each, or equal to two-lifths of the entire capital on their own private aecom.t, purchased in fuily paid-up shares. And as a fuithci' proof of their coniidence in the future pr-'Speeis of the Company, they have decided to guarantee that the Company's net profits for the first three ye;u'-; r hall not be iess 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">",(ju'J to be paid to the shareholders within three years. They exjject airl believe that the profits will considerably exceed this rate, but investors will by this means know the rate of their minimum promts. By v. ay of further securing the observance of the guarantee, the firm have

;;g-e;jd to deposit witu tn-; Directors of the L'i>iiii':i:iy sciii of 1110 Company (luring the first your of tii-o value of L'M ii'o'J, during the .:lcoiul j'ear of IAV.'JCi), and during the third year of 1.'25 OIC, and to executs a leg:A ei'.nrge upon the iunie in favor of the Company.

..iiLeniiiiKf shnrelii:l'lo;-5 may therefore rest a.><artd that no more legitimate or remunerative outlet for capita*, or one presenting bctci-r or isn>r« ext.-nsive future prospects, has ever been i.ii'ercd in New Zealand. The reasons which h_ve induced Messrs. Guthrie and Larnach to take this step are—--Ist. That their term of partnership expiies by trliluxi-in of time in the coutse of a lew months, when it is tile intention of one to retire Iroin