PROSPECTUS.

Otago Witness, Issue 1325, 21 April 1877, Page 22

PROSPECTUS.

In connection with' this. It ia'a fact that the' profits: shown te have been made in Messrs Gutyiri&,and>Lu~ nach's business for the same .period considerably exceed that made by the Union Company in proportion to the capital invested ; so that the promoters havegood reasons' for believing that not only will)large> dividends be paid regularly by the Company, -but that its stock will at once become a muc'&iought-after and favourable investment.; ,- t .n i*> i t } " Mr Guthrie, has consented to be/ fully , identified with the business for d- number of years as Managing' Director. Mr Guthrie's practical skill and long 'experience in the'trado, are well .known',; the high posi- „ tion to which the firm has attained under his management indicates ihe'me'»su're r of prosperity-,which : may reasonably.be expected -in the. future ;. and as'aproo ofMrGuthrie and his. partner'a.-fa'th in the future prospects of the concern, they are willtag to,hold briefifth each, or equal to two-fifths! of. the entire capital on their own private account, purchased in fully, paidup shares. 'And as a f nrther proof of their" confidence in Re future prospects of the' Company, theyhiTye decided to guarantee that; the Company's net profits for the first three years 'shall not be-less'than 10 per cent, per annum' on the' 'actual' capitxr for the time being employed in^ the business, or equal to a] sum of about £57,000 to, be paid v to the shareholders within three'years.' They expect and believe 'tha£ the profits wilt considerably' exceed ' this ' rate, but" investors will iby this means know^the rate of their 'minim vun profits. By way of further securing, the, observance of tho guarantee, the firm have agreed '&' deposit with tho Directors of the Company scrip' &f tho iCompany during -the first year- of the value ,of r duriogr the second year of £40,000, and during the' third year'of £25,000, and to execute 'a' legal charge-upoa the' same in favour cf the Company: 7 n't-jiitr-, .»•-• 1"'l Intending shareholders ' may therefore that no more legitimate; or' remunerative 'outlet for capital, or? one presenting' be iter"' or more, extensive\ future prospecta, has .ever bean offered, in New Zealand. „",." ♦ •- "-'^ . The reasons which have Induced Messrs Guthrie and. Larnach to take this step are— ;'• , <■ f j lt ,' . Ist. That their term of, partnership ' expires '"'^ effluxiou of time in the cou.*3e of a few months, wt •^F it is the intention of one of the partners to retire "fidnrT active business.'" ' '• yu 2nd, That the plant, machinery, and, general appliances of the firm' are now'of a-' character' which'bpons up a largely extended and .extremely profitable trade, which, however, call's for the employment 'of an" extended capital. ■ ' i ■■ " »■'' ■* ' ..The. valuation of the freehold and leasehold, lands, with full paiticuiara a3 to amount of capitalemployed and net profits realised during the last four and i a half years, taken from the' firm's books, and certified by Messrs A. W. Morris. C. H. Street, and' Edmund , Smith, valuators and auditors, together with a copy of the agreement 'entered into with the firm by the Provisional 'Directors, • may : ba= obtained ' by.boria fide intending investors from the Brokers.- *,„ i v, The Sh'arij List will close, at an" early date, and, in. making tho allotment the Provisional. Directors' will theiorder^in^whicb, applications have beea inade^ " r * ■ , • ' ' i *r.-'-' "**•'.. 1 ' Form* of applications for Shares Sin be obtained' it the efficesof Messrs Guthrie and Larnach, or otMessra , C9nnell,and Moodie or J. B. Bradshaw, Brokers. ,,. .

It having been found that the Various Valuations and aufUfrj require ; more, 'time Jthan was ' anticipated,' tha Provisional Directors,-,,wlth Messrs Guthrie. and Larnach's consent, have*- decided in the iheantiineto .suspend the further issue of the Prospectus until these are completed, of .which due notice wiUYoe given, rr ♦{ ' . . By order of ttie Provisional toirectbrs^. ',' ,- / ', ': ' n J. AITOE^.CONNELt',', „ •' '- - • ' • Interim Secretary!