Page 22 Advertisements Column 1

Otago Witness, Issue 1324, 14 April 1877, Page 22

PROSPECTUS. PROSPECTUS OF /GUTHRIE AND LARNACH'S NEW ZEALAND TIMBER AND -WOODWARE FACTORIES, LIMITED. Capital7£2sO,OoO, In 60,000 shares of £5 each ; Deposit, payable on aoplication, 10s per share. Allotment Call, 10s per share. After which it is proposed to call up £2 per share, in sums of 108 each Call,- at intervals of not lessthtn 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 Goodwill of the Business and preliminary expenses of floating: the Company, and the remaining 16,000 shares being fully paid up by them hi 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 : A. C. Strode, Esq., Dunedin. Alexander Burt, Esq., of Measrs A. and T. Burt, Dunedin. James Robin, Esq., Carriage Manufacturer, Dunedin. Robert Sparrow, Esq., Dunedin Iron Works, Dunedin. Basil Sievwright, Esq., Solicitor, Dunedin. G. S, Brodrick, Shipping and Insurance Agent, Dunedin. William Moodie, Esq., Manager New Zealand Meat Preserving Company, Kakanui. Robert Ha worth, Esq., of Messrs R. and T. Ha worth, Merchants, Dunedin. A. S. Gibbs, Esq., of Messrs Gibbs and Clayton, Merchants, Dunedia. John Reid, Esq., Merchant, Auckland. Valuators and Auditors : A. W. Morris, Esq. ; C. H. Street, i£sq.; and Edmund Smith, Esq. Valuators for Vesskis. Captain Thomson, Harbour Matter. 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 : Measis Connell and Moodie, Princes street, Dunedin. J. B. Bradshaw, Esq., Princes street, DuneJin. This Company is projected for the purpose of purchasing and thereafter carrying on Messrs Guthrie and Larnach's well-known Woodware 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 and leasehold lands held by the firm, at present market va-ue ; and their useful fleet of Coasting Vessels, also at present actual value, the new Company taking 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 tlw firm secured and unsecured at par, but shall be entitled to receive on all unsecured debts interest at the rate of 8 per cent, per annum from the day when Btock is taken up to the date of actual payment, and in addition a commission for collecting of two and ahalf 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 fim, and thus prevents its customers from being subjected to a possib c outside pressure ; receiving, moreover, a commission fcr the collection of debts which its own staff of officers will be able to overtake in the usual coarse of business, without cos' to the Company. By agreement between the Provisional Directors and Messrs Guthrie and Larnaeh, it has been arranged that the valuation of the freehold and leasehold lands shall be made by Messrs A. W. Morris, C. R. Street, and Edmund Smith, accountants ; the valuation of vessels by Captain Thomson, Otago Harbour Master, Keith Kanvav, Esq., fhipowner, and Andrew M'Kinnon, Esq., shipbuilder, Port Chalmers ; and that the net cost of buildings, plant, mrchinery, and stock shall be.