Page 4 Advertisements Column 1

Oamaru Mail, Volume II, Issue 389, 26 July 1877, Page 4

PROSPECTUS '< tf PROSPECTUS SEW ZEALAND TIMBER AND WOODWAKE FACTORIES (LIMITED). Capital, £200,000, 1m 50,000 shares of £5 each; ©•posit, payable on application, 103. per •hare ; allotment Call, 10s. per share. After which it is proposed to call up £2 per ■hare, in sums of 10a. each Call, at intervals of not less than three months, thus extending the total payments over a period •f one year from date of allotment. 20,000 shares, fully paid up, are retained by Messrs. Guthrie and Larn.ieh (4000 being allotted for the Goodwill of the Business and preliminary expenses of floating the Company, and the remaining 16,000 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 place*. Provisional Directors. Alexander Burt, Esq., of Messrs. A. and T. Burt, Dunedin James Robin, Esq., Carriage Manufacturer, Dunedin Eobert Sparrow, Esq., Dunedin Iron H orks, Dunedin Basil Sierwright, Esq., Solicitor, Dunedin. O. S. Brodrick, Shipping and Insurance Agent, Dunedin "William Moody, Esq., Manager New Zealand Meat-Preserving Company, Kakanui Bohert Haworth, Esq., of Messrs. R. and T. Haworth, Merchants, Dunedin A. S. Gibbs, Esq., of Messrs. Gibbs and Clayton, Merchants, Dunedin Tohnßeid, Esq., Merchant, Auckland. Valuators and Auditors :

W. Morris, Esq.; C. H. Street, Esq.; and Edmund Smith, Fsq. Valuators fop. Vessels : Captain Thomson. Harbor-Master -Andrew 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. Connell and Moodie, Princes-street, Dunedin J. B. Bradshaw, Esq., Princes-street, Dunedin. This Company is projected for the purpose -»f purchasing and thereafter carrying on Messrs. Guthrie and Larnach's well-known A'oodware 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 *ll their other buildings, with the entire machinery, plant, and stock of every description fitthe actual net cost; the whole of the freelold and leasehold lands -held by the tirm at present market value ; and their useful fleet of Coasting Vessels, also at present actual value, the new Company taking over all current agreements and uncompleted orders or •ontracts. (For the purpose of these and all other valuations, the gentlemen respectively named hereafter have been appointed by mutual agreement between Messrs. Guthrie and Lafnach and the Provisional 1 >irectors.) It has also been arranged that the new Company shall take over the entire debts due to the firm secured and unsecured at par, but shall be entitled to receive on all unsecured debts interest at the rate of S per cent, per tinniTm from the day when stock is taken up to the date of actual payment, and in additi a commission for collecting of two and a h percent., Messrs. Guthrie and Larnach guaranteeing the entire amount of the unsecured debts to the Company. The prudence of this arrangement will at cnce be apparent when it is remembered that the Company thus keeps in its own hands the entire connection of the retiring firm, and thus prevents its customers from being subjected to a possible outside pressure, receiving, moreover, a comnns- '•i tor the collection of debts, which it •• ■■■; staff of oiiicers will be able to ov : . ■ ■„• in the usual course of business, wliii- .r .■■■■ t to the Company. By agreement t ■■'■ •-. • ;!:e Provisional Directors and M< •; . -r. ;a and Larnach, it has been i V . . the valuation of the freehold end lands shall be made by and Edmund Smith, accountants ; the valuation of vessels by Captain Thomson (Otago Harbour Master), Keith Ramsay, Esq. (shipowner), and Andrew M'Kinnon, Esq. (shipowner, Port Chalmers); and that the net cost of buildings, plant, machinery, and stock shall be ascertained from the books and vouchers of the retiring tirm by a Committee of the Provisional Directors, assisted by competent accountants and experts. Four thousand of the Conqmny's shares, fully paid up, have been agreed to be 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. —in 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 firm 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 Colemes. 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 Factories as well as open markets. \ The Import, Iron, and Hardware Business of the' firm is also very extensive. These several branches at present represent a most valuable and important pan; of the linn's trade, and the promoters feel confideut that they can be most safely and profitably extended. In the New Zealand Woodware Factories there are four distinct departments, viz.:— ■ Ist. Sawing, Planing, and Moulding Factory. 2nd. Door and Sash Factory. 3rd. Tub and Bucket Factory. '4th. Furniture and Turnery Factory. The trade of each of these is capable of rreat and profitable extensiou, and as an evileac* of th» srreat outlet for the products of