Page 4 Advertisements Column 2

Oamaru Mail, Volume II, Issue 388, 21 July 1877, Page 4

PROSPECTUS tnesirwofEsTMessrs. jjucmje ana .L,arnacn machinery § pyertime, on an-average of-two-nights per ~ wejeky sinca j-ihevpgepjng.* of [thej ffl&&7s?a.<i£ )." tp'ries. "■ '•-';»;-.'! i'J - !, 'i V .-'. " The whole of "the extensive Factories and ..Stores (specially designed \ by David JRojss/ "ITs'q.,'architect, of this qifcyj-.are,eubsj§i&tiaily; built of .brick, and, Ceropjit-.nn-fioljti hlnestrine' £ '■■ iFpimdal ~ , •'•■• ""of' the 1 best and racist durable descriptions)-, r - vcovering! ah! area;* ihcludjng< ! the'timber yards", .-pi,. several;acires.cS valuable'larfdiii th'e ri chief , s streets of the city. .*!■-■•■>{. \ <j The whole _o^ ;: the ( rria* chinery was designecl, by i l emiti^€ under while '%' in BrKdinyMnd^aftera inspection - 'Hif'the, principal w6oaw^r'e*jfa'cjprxes in Arhel"' rieaj'Britam," arid' Each '£ machine has beeri r; firmly placed on a solid bed of concrete, where,necessary, ip^prevent ?-■ '^e~ s^6sslsiH^l IM p >wear4nijtfearf. ''' ' ''.*;/'" •",• -ni/; ■ '" The contract for the pufcn'ase'of machinery e was entered into when materials and labour e in Scotland were iif their lowest. j^T^eimpdftahti. advantaged id shareholders ! # .in a Joint Stock into :" i -pGssessiofi i or' ; a la'fge'nianufacturing.and im- . pdftmgTjusinjess in full operation on a fixed ' date, with' 1 a "thoroughly trained staff of '■ 'hectibn%itibut'fiay.ing;toV>vait,fpr• |bhe 4jeCr ■ tioir of'binldlngy,' .plant, stock, ;e etc., or being'siA'|^dted''t'ol,ariy' i pi the risks ': - and delays-' iticideiitaj "iq ;the siarfriug'of a ne^f 1 business, and wrtn' , ali'''pfeiiininary expenses i paid, should be ;afc.onye.apjjarent to investors.' U'The following' 31 Special' advantages are' ?.: - worthy-of notice : '; Ist. The whole of the machinery in the d: Factories is driven by one pair of powerful engines, worked by two men—an engineer : and fireman—whose, wages, rnay fairly, belaid; . to tile Vfable expense in connection d with the motive power, as the only fuel re-; ! quired to .keep .up steam-is..the sawdust and: ; drawn'from "the 'different factories: i as soon as made, by means of pneumatic' r, tubes, and deposited in,-: large ibrick'«a|e, ready for consumption alongside the bqflerg. By this means all rubbish is utilised and ': made a source of profit, and the cost of labour, a ' :r ' 2nd. The four Factories being worked under one roof, a great savings is consequently jeffected; hot"ohly-'iii'-the "motive ;," power, but also in the management, as the whole can be superintended and .controlled l- : 3rd. The Tub and Bucket Factory, now in e ; full operation, has a monopoly of the supply l ;of these indispensable articles, there being i no other tub and bucket factory in the AusL .„ "tralasian Colonies. A large return may ! .therefore be looked for to the credit of this [\ ;branch of the business. ■ ; 4th./The_whole pf,t;he.Factofies; especially ■ the Furniture Factory, being worked in con- - nection with the general timber business, is i= carried on mpst profitably, not only from the ; - fact of the first cost of the timber being prot n cured at the cheapest possible rate,,but also t that large. iqjiahtifies of 1 timber, which would otherwise either be sold - as job lots at a low price, or sent to the fur- '-. hace to be consumed as fuel, are utilised. : The Union Sash and- Boor Company in ,: Auckland is of a similar character to the New ' Zealand Woodware Factories, only being much less extensive. It is, however, a [i air j '; . criterion to-. Jbase jgalpulatiohs-. what "may oe expected from the New Zea- . land Woodware Factories. The Company referred to has only beeix in active operation for a little over four years, and has paid . ; rahnual dividends of 20 per cent., besides ' carrying large amounts ..to.-reserve; fiind; so .that, in addition''tb~ the'' 'very handsome yearly dividends, the original Lo shares of the Company are now quoted at L 7 10s., and "■ a; new issue allotted to_ shareholders, on which L2 10s. has beenpaid up solely out of '_ reserve fund, are quoted at L 3 10s., making ' tlie present total market value of the ori--1 ginal shares Idl, pr a ; p.r6rnium;pfrfl2P.j.per cent. - ' ■•-■-■••■ ■ In connection with this, it is a fact that r the profits shown to havfr been made in Messrs. Guthrie ahcf Eafhach's business for the same period considerably exceed that made by the Union Company, .in-proportion to 'the capital- 5 invested J" sb" ihat fife' promoters have good reasons for believing that not only will large dividends be paid regularly by ; the Company, but that its stock will at once become a much-sorrght-after and favor- : able investment. [ Mr. Guthrie has consented to be fully identified with the business for. a number, .of : years aa. Managing Birector. ■''' Miv Gutlirie's) i practical skill and long experience in the*' trade are well known ; the high position to which the firm has,., attained,. Ainder his management indicates the measure of prosperity which may reasonably be expected in ythe.future ; and as a..prqo|.pf Mr i; jGujtbrre's land his parfei'er a s r '--faitli : irr'tlie "fir£ufe*"prosfects of the concern, they are willing to o ojd one-fiffch each, or equal to two-fifths of the entire capital on their own private account, purchased in fully paid-up shares. And as a further proof of their confidence in , the future prospects of the Company, they ' have decided to guarantee that the Company's net jirofits for the first 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 to be paid to the shareholders within three years. They expect and believe that the profits will considerably exceed this rate, but investors will by ! this means know the rate of their minimum profits. By way of further securing the ob- , servance of the guarantee, the firm have ; agreed to deposit with the Directors of the Company scrip of the Company during the x first year of the value of L 50,000, during the second year of L 40,000, and during the third year of L 25.000, and to execute a legal charge upon the same in favor of the Company. Intending shareholders may therefore rest lassured that no more legitimate or remunerative outlet for capital, or one presenting betier or more extensive future prospects, has ever been offered in ]\ T ew Zealand. *' The reasons which have induced Messrs. Guthrie and Larnach to take this step are—--Ist. That their term of partnership ex- I: pires by effluxion of time in the course of a lew months, when it is the intention of one of the partners to retire from active busi-