Page 4 Advertisements Column 1

Oamaru Mail, Volume II, Issue 389, 24 July 1877, Page 4

PROSPECTUS PROSPECTUS OF T7THRIE AND LARNACH'S NEW ZEALAND TIMBER AND WOODWARE FACTORIES (LIMITED). Capital, £250,000, In 50,00*) 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 of not less than three months, thus extending the total payments over a period of one year from date of allotment. 20,000 shares, fullv paid up, are retained fcy Messrs. Guthrie and Larnach (4000 being allotted for the Goodwill of the Business and preliminary expenses of iloating the Company, and the remaining 16,000 shares being fully paid'np hv thutn 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 Burt, Esq., of Messrs. A. and T. Burt, Duneclin Robin, Es<|., Carriage Manufacturer, Dunedin Piobert Sparrow, Esq., Dunedin Iron Works, Pnnedin Basil Sievwright, E--q.. Solicitor, Dunedin. G. S. Brodriek, Shipping and Insurance Agent, Dunedin William Moody, Esr land Meat-Prese Manager ]New Zeaing Company, Kakanm Robert Haworth, Esq., of Messrs. R. and T. Hawnrth, Merchants, Dunedin A. S. Gibbs, Esq., of Messrs. Gibbs and Clayton, Merchant-?, Dunedin Reid, Esq., Merchant, Auckland. Yai.Cators ANI> AUDITORS: W. Morris, Esq.: C. 11. Street, Esq.; and Edmund Smith, Esq. Valuators for. Yks<kls : "Japtain Thomson. Harbor-Master indrew M'Kinnon. Esq., Shipbuilder, Mayor of Port Chalmers Keith Ramsay, Esq., Shipowner. Solicitors : Messrs. Sievwright and Stout. Bankers: The Bank of New Zealand and Branches. Brokers: Messrs. C'onnell and Moouie, Princes-street, Dunedin J. B. Bradshav,-, Esq., Princes-street, Dunedin. This Company is projected for the purpose of purchasing and thereafter carrying on Messrs. Guthrie and Larnaelrs well-known Wood ware Factories and their extensive Importing Timber and Iron Business. An agreement has been entered into with Messrs/Guthrie and Larnach to sell to the Company their new Factories together with all their other buildings with the entire machinery, plant, and stock of every description at the actual net cost : the whole of the freehold aud 1.-a-ehold lands held by the firm at ! present market value ; and their useful licet of Coasting Vessels, aLo at present actual value, the new Company caking 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 Directors.) It has also been arranged that the new Company shall take over the entire debts due to the firm secured aud unsecured at par, but ahafl lie entitled to receive en all unsecured debts interest at the rate of y per cent, per annum from the day when stuck is taken up to the date of actual payment, and in additio a commission for collecting of two and a ha per 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 linn, and thus prevents its customers from being nbjeeted to a possible outside pressure, receiving, moreover, a commission for the collection of debts, which its own staff of officers will be able to overtake in the usual course of business, without cost to the Company. By agieement between the Provisional Directors and Messrs. Guthrie and Lnrnach, it has been arranged that the valuation of the freehold and leasehold lands shall be made by Messrs. A. W. Morris, C. H. Street, and Edmund Smith, accountants ; the valuation of vessels by Captain Thomson (Utago Harbour Master), Keith Ramsay, Esq. (shipowner), ami Andrew MMvinnon, Esq. (shipowner, Port Chalmers); and that the net cojt of buildings, plant, machinery, and stock shall be ascertained from the books and vouchers of the retiring firm by a Committee of the Provisional 1 -irectors, assisted by competent accountants and experts. ' Four 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 re-' ' munerative business, the}' undertaking them- ' selves to pay all j'reliminary expenses—in- j eluding brokerage, advertising, etc., etc. —in connection with the floating of the Company. 1 Stock will be taken as on the day the Com- s pany enters into possession, and the debts 1 due to the firm will be taken over as from c the same date. * The timber business is most extensive, and may fairly be said to be the largest in tile * Australasian Coiemes. In connection with l ' this l:r;mch of the business, there are several Bush Mills, aud a large fleet of coasting \ vessels, employed regularly in carrying sup- fc plies for the requirements of the Factories 5 as well as open markets. J; r The Import, Iron, and Hardware Business of the firm is also very extensive. These s several brandies at present represent a most valuable and important part of the linn's c teide, and the promoters feel confident that fchey can be most safely and profitably expended. . a In the New Zealand Woodware Factories f •;here are four distinct department a, viz. :— j Ist:. Sawing, Planing, aud Moulding Factory. 2nd. Door .-■ nd Sash Factory. t 3rd. Tub raid Lucket Factory. 4th. Furniture and Turnery Factory. p Ihe trade of each of these is capable of f< great and profitable extension, and as an evi- o iL>„ „~ „f n, a ~-~~± outlet for the products of -