Page 4 Advertisements Column 1

Oamaru Mail, Volume II, Issue 389, 25 July 1877, Page 4

PROSPECTUS PROSPECTUS OF lUTHRIE AND LARNACH'S NEW ZEALAND TIMBER AND WOODWARE FACTORIES (LIMITED). Capital, £-2.-,0,(i00, In. 50,000 shares of £5 each ; Deposit, pavable on application, 10s. per share; allotment Call, lUs. per share. After which it is proposed to call up £2 per share, in sums of I Ms. 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, fully paid up, are retained by Messrs. Guthrie and Larnach (4000 being allotted for the < Joodwill of the Budness and preliminary expenses of lloating the Company, and the remaining lh',ooo shares being fully paid up by them in cash). The remaining 30,000 shares are offered to the public; 20,000 iu New Zealand, and 10,000 reserved for the English and Australian markets, a number of which have already been bespoken from each of those T)IHC6S Provisional Director?. Alexander Burt, Esq., of Messrs. A. and T. Burt, Dunedin James Robin, Esq., Carriage Manufacturer, Dunedin Egbert Sparrow, Esq., Dunedin Iron TA orks, Dunedin Basil Sievwright, Esq., Solicitor. Dunedin. G. S. Brodriek, Shipping and Insurance Agent, Dunedin William Moody, Esq., Manager New Zealand Meat-Preserving Company, Ivakanui Bobert Haworth, Esq., of Messrs. R. and T. Haworth, Merchants, Dunedin A. S. Gibbs, Esq., of Messrs. Gibbs and Clayton, Merchants, Dunedin Tohn Reid, Esq., Merchant. Auckland. Valuators ani> Auditors: W. Morris. Esq : C. H. Street, Esq.; and Edmund Smith, Fsq. Valuators tor Vfsskls : Vaptain Thomson, Jl arbor-Master -indrew M'Kinnon. Esq., Shipbuilder, Mayor of Port Chalmers Keith Ramsay, Esq., Shipowner. Soi.u itoi:s : Messrs. Sievwright and Stout. Ra.vkki.s : The Bank of New Zealand and Branches. Rrmkki:- : Messrs. C'onnell and Moodie. I'linces-street, Dunedin J. B. Bradshaw. Esq., Princes-street. Dunedin. This Company is projected f.»r the purpose "»f purchasing and thereafter carrying on vlessrs. Guthrie and I.arnaeifs well-known A'oodware Factories and their extensive Importing Timber ami Iron Business. An agreement has l>e«.-ii entered into with .Messrs. Guthrie and larnach to sell to the Company their new Lactone-, together with *ll their other buildings, with the entire machinery, plant, and stock of every description clthe actual net cost : the whole of thefreelold and leasehold lauds held by the iirm at present market value : and their useful rieec of Coasting Vessels, also at_ present actual value, the new Company taking over all current agreements and uncompleted orders or -jontraets. (For the purpose of these and all other valuations, tSie gentlemen respect ively named hereafter have been bv mutual agreement betwe. n Mes-rs. _ Gi.ii.hne ■\nd Larnach and tiie i'rovi.-m!:;.t 1 •".rectors.) It has also been arranged that the new Company shall take over the entire debts due to the firm secured and uu ecured :.: par, but shall be entitled to receive on all unsecured debts interest at the rate of S percent, per annum from the day when stock i-s taken up to the date of actual payment, and in ad.iiti a commission for collecting o- two and a h percent., Messrs. Guthrie ami La-naeh guaranteeing the en tire amount of the unsecured debts to the Company. The prudence of thi.- anangement 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 pos.-ilde outside pressure, receiving, moreover, a commission fertile collection of debts, which its own staff of oiiisers will be able to overtake in the u.-ual course of business, without cost to the Company. By agreement between the Provisional Directors ami Messrs. Guthrie and Larnach, it has been arranged that the valuation of the freehold and"leasehold lands shall be made by Messrs. A. V.\ Monis, C. H. Street. and Edmund Smith, accountants : the valuation of vessels by Captain Thomson (Otago Harbour Master), Keith i.'nimay, Esq. (shipowner), and Andrew M'Kiimon, Esq. (shipowner, Port Chalmers) : and that the net cost of buildings, plant, machinery, and stock shall be a-eertaim d from the books and vouchers of the retiring lirm by a Committee of the Provisional Directors, assisted by competent accountants and experts. Four thousand of the Company's shares, fully paid up, have b«en agreed to he 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. iu connection with the floating of the Company. Stock will be taken as on the day the Company enters into possession, and the debts due 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, there are several Bush Mills, and a large fleet of coasting vessels, employed regularly in carrying supplies for the requirements of the Factoiies as well as open markets. The Import, Iron, ami Hardware Business of the firm is also very extensive. These several branches at present represent a most valuable and important part of the linn's trade, and the promoters feel confident that j they can be most safely ami profitably ex- i tended. In the New Zealand Woodware Factories there are four distinct departments, viz.:— Ist. Sawing, Planing, and Moulding Factory. 2nd.- Door ml -ash factory. Srd. Tub ami Ruckct Factory. I 4th. Furniture and Turnery Factory. j The trade of each of is capable of j great and profitable extension, and as an evidence of the srreat outlet for the products of I that the new Com:ntire debts due to I La'iiueii •i" the r.u----t will at :red that n hands •ttstomers from