Page 2 Advertisements Column 1

Otago Witness, Issue 92, 19 February 1853, Page 2

DUNEDIN MECHANICS' INSTITUTION. LECTURE. THE REV. CHARLES JEFFREYS has kindly consented to Deliver the Opening Lecture, at the Hall of the Institution, on Friday Evening next, 25th inst., at 7 o'clock. The Subject will be on — " A remarkable lately discovered Experiment for establishing, by means of a Pendulum, the fact of the Rotation of the Earth about its Axis." Tickets of Admission, 6d. each, may be had of any member of Committee. By Order of Committee, Tuos. Bain, Interim Sec. PETER. CREW, BUTCHER, BEGS respectfully to inform the inhabitants of Dunedin and its vicinity, that on Monday next, the 21st inst., he purposes resuming business as above at his original premises in High Street, and trusts, by strict attention to the quality of the articles he may have to sell, and by punctually attending to the wishes of those who favour him, to merit their patronage. Dunedin, 19th Feb., 18-33. MR. W. H. CUTTEN will Sell by Auction, at his Store, Printing-house Wharf, on Saturday, the 26th instant, at 12 o'clock precisely, Two Kegs of Tobacco, partly damaged. Also a quantity of useful Merchandise, comprising Spades, Shovels, Hoes, Rakes, Chains, Nails, Locks, and a vai'iety of well-assorted Ironmongery and Carpenters' Tools, Blankets, Linen, Vinegar, Stationery, &c. &c. OTAGO PROPERTY INVESTMENT COMPANY. OBJECTS : Ist. To enable its Members to become the possessors of Land, Sheep, or Cattle. 2nd. To secure a profitable return for the investment of money. Shades, £20 each. Fortnightly Payment, Is. per Share ; Entry Money, Is. per Share ; rate of Interest charged on Advances, 5 per cent, per annum. PROSPECTUS. A SOCIETY of this kind has been in exis-i-jL tence in the Settlement for nearly three years, and is now drawing to a most successful termination. So obvious have been the benefits conferred upon all connected with it, and to the colony generally (by anchoring our best labour in the colony), that the Committee deem it unnecessary to do more than briefly advert to its leading principles and mode of operation. A Subscription of Is. per share is paid fortnightly by each Shareholder. The money thus accumulated is advanced once a quarter, according to a prescribed foim, to such Members as wish an advance for the purpose of enabling! them to purchase Land, Sheep, or Cattle. The property purchased is secured by' the Company until the advance is repaid, which is done by instalments or otherwise, after which the Members become absolute proprietors of the property. Such Shareholders who invest their money and do not wish for any advance will receive nearly 5 per cent, compound interest on their deposits, if they remain to the end of the Company. Should they withdraw at an eailier period, they will receive a rate of interest proportionately high to the duration of their membership. To an individual anxious to become the proprietor of his own la ml — town, rural, or suburban — this Company offers peculiar advantages : it enables him to apply that money which he has hitherto been paying as rent, — that is to say, for the LOAN of the property towards the itrciiase of it; and it enables him to do this in a manner more convenient and easy than the payment of rent was, as the subscriptions are payable more frequently, and are therefore much smaller in amount. To an indhidual already possessing all the land he wants in the meantime, this Company holds out equal advantages. For example, an individual in possession of 10 acres fenced, nearly all under cultivation, and a house thereon, becomes a Shareholder in this Company to the extent of o shares, for which he will pay ss. per fortnight. When he obtains a right to an advance (which is done by giving a premium for it), the Company would purchase say 100 sheep for him,* after which, in addition to his fortnightly subscription, he will have to pay 5 per cent, interest for the advance, which will make his total yearly payment £11 10s. — payable, however, in small periodical instalments. This payment being made during the continuance of the Company (which will be under the assumed period of 12 years), the sheep will, with all their increase, at the close thereof, become his own exclusive property. Perhaps there is no portion of our population on whom this society would confer, greater benefits than upon the working youths of the colony, by the early instilation of saving habits, and the comfort of finding themselves, when they arrive at mature years, in possession of a handsome sum to begin the world with — entirely the result of their own frugality. No doubt the public are satisfied by this time as to the security and solvency of this institution, from their experience of the success that has attended the Dunedin Property Investment Company just about to close. Indeed it may be unhesitatingly asserted, that there is no institution in which money may be invested — whatever resources it may have at its disposal, however long and,firmly it may have been established, or however economically conducted — with which it may not advantageously challenge * The Company would give them out upon thirds or otherwise, as the Shareholder might determine — nf cniircu lip Tinvino- all the exnenses of shepherding.