Page 2 Advertisements Column 4

Colonist, Volume XIX, Issue 2248, 23 June 1877, Page 2

JSEW ADVERTISEMENTS. PROSPECTUS OF pUTIIRIE AND LA. KN ACJ± } S NEW ZEALAND TTMBER AND WOODWARE FACTORIES, LIMITED. Capital, £250,000, in 50,000 Shares of £5 each} Deposit, payable on application, 10s per share. Allotment Call, 10s per share. After which it. is propose^ to call up £2 per share, in sums of 10s. 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 Goodwill of the Business and preliminary expenses of floating the Company, and the remaining 16,000 Bhares being fully paid up by thorn 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 places. Provisional Directors : Alexander Burt, Ebq, of Messrs. A. and T. Burt, Dunedin James Robin, Eeq, Carriage Manufacturer, Dunedin Robert Sparrow, Esq, Dunedin Iron Works, Dunedin Basil Siovwrighfc, Esq, Solicitor, Dunedin G. S. Brodrick, Shipping and Insurance Agent, Dunedin William Moodie, Esq, Manager New Zealand Meat Preserving Company, Kakanui Robert Haworth, Esq, of Messrs. R. and T. Haworth, Merchants, Dunekin A. S. G-ibbs, Esq, of Messrs. Gibbs and Clayton, Merchants, Dunedin John Reid, Esq, Merchant, Auckland Valuators and Auditors: A. W. Morris, Esq.; C. H. Street, Esq; and Edmund Smith, Esq. Valuators for Vessels : Captain Thomson, Harbor-Master Andrew M'Kinnon, Esq, Shipbuilder, Mayor of Port Chalmers Keith. Ramsay, Esq, Shipowner Solicitors : Messrs Sievwrighfc and Stoufc Bankers : | The Bank of New Zealand and Branches Brokers : Messrs. Connell and Moodis, Princes-street, Dunedin J. B. Bradshaw, Eeq, Princes-street, Dunedin This Company is projected for the purpose of purchasing and thereafter carrying on Messrs Guthrie and Larnach's woll-knowu 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 value; and their useful fleet ot Coasting Vessels, also at present actual value, the new Company taking over all current agreements and uncompleted orders or contracts, (\*ov the purpose of these and all other valuations, the gentlemen respectively named hereafter have been nppoiuted by mutual agreement between Messrs G-uthrie aud Larnach and the Provisional Directors.) It ha 3 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 t'io rate of 8 par cent, per annum from the day when the stock is taken up to the date of actual payment, and in addition a commission for collecting ol 2\ per cent, Messrs GutLuie and Larnach guaranteeing the entire amount of unsecured debt 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 firm, and thus prevents its customers from being subjected to a possible outside pressure ; receiving, moreover, a commission for the collection of debts which its own staff of officers, will be able to overtake in the usual course of business, without cost to the Company. By ngreement between the Provisional Directors and Messrs Guthrie and Lurnaeli, it has been arranged that the valuation of the freehold and leasebold lands shall be made by Messrs. A. W. Morris, C. H. Street, and Edmund Sgiith, accountants; the valuation of vessels by Captain Thomson, Otago f-Tarbor-Master, Keith Ramsay, Esq, shipowner, and Andrew M'Kinuon, Esq, shipbuilder, Port Chalmers ; and that the net cost of buildings, plant, machinery, and stock shall be ascertained from the books and vouchers of the retiring firm by a Committee of the Provisional Directors, assisted by competent accountants and experts. Four thousand of the Company's shares fully paid up izajre b. een agreed to be allotted to Messrs Guthrie ; and Larnaoh, us consideration fer the Goodwill of thair very remunerative business, they undertaking themselves to pay all preliminary expenses (including ; brokerage, advertising, &c, &c), in connection with j the flouting of the Company. Stock will be taken as un 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 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, and Hardware business of the firm js also vpry extensive. .These several branches ■ ao present repre.seijfc a most valuable and important part of the firm's trade, and tfye promoters feel con- j fident that they can be most safely aud profitably extended. In the New Zealand Woodware Factories there are four distinot departments, viz :— Ist. Sawing, Planing, and Moulding Factory ; 2nd. Door and Sash Factory ■ ?rd. Tub and Bucket Faotory " 4th_. Furniture and Turnery Factory The trade ,of each of these is papable of great and ; profitable extension, and as an evidence of the great outlet for the products of these works, Messrs Guthrie and Larnach haye been compelled to run |the machinery overtime, on tin average two nights per week, since the opening of the new Factories, The whole of the extensive Factories and Stores (specially designed by David Ross, Esq., architect, of this city) are substantially built of brick and cement, on solid bluestone and concrete foundations (all timbers being of the best and most durable descriptions) covering an area, including the timber yards, of several acres of valuable land in the chief streets of the city. The whole of the splendid modern machinery was designed and planned by an eminent engineering firm in Glasgow, under Mr Guthrie's immeliate supervision while in Britain, and after a very careful inspection of the principal woodware factories in America, Britain, and on the Continent. Each machine has. been firmly placed on a solid bed of concrete where necessary, to prevent the possibility of vibration, and to avoid wear and tear. The contract for the purchase of machinery was entered into when materials and labor in Scotland wepe at £bejr lowest. , , The important advantages to shareholders in a Joint Stock Company of entering into possession of a large manufacturing and importing busings vft, full operation, on a fixed date, with »thpiou^hly traintij