Page 4 Advertisements Column 2

Timaru Herald, Volume XXVII, Issue 1762, 23 June 1877, Page 4

Miscellaneous. TO THE PUBLIC OF TIMARU. t t "VTOTICE is respectfully given that the t principal STORES will m future CLOBE at 9 o'clock on SATURDAY EVENINGS, commencing on Saturday next, June 23. 22ju TIMARU BOROUGH COUNCIL. CELEBRATION OF THE OPENING 07 THE ! BOROUGH COUNCIL CHAMBERS By a Ball and Banquet. IT IS REQUESTED that early application *• for Tickets be made to the Members of the Committee, viz., His Worship the Mayor, Councillors Jonas, Stanse'l, and Bush, as only a limited number will be issued. EDWIN Hi. LOUGH, 16 ju Town Clerk. LEVELS ROAD BOARD. CAUTIOI.. TBB Public are hereby CAUTIONED * that the approach to the CROSSING of the OPIHI, on the Main Line of Road is dangerous. By order of the Board, W. C. BESWICK, 18ju Chairman. PROSPECTUS OF GUTHRIE AND LARNACH'S NEW ZEALAND TIMBER 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 proposed to call up £2 per Share, m 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 allot nient. 20,000 Shares, fully paid up, are retained ty Me<srs Guthrio and Lnrnach (4000 being allotted for tho Goodwill of the Businers and the preliminary expenses of floating the Cornpuny, and the remaining 16,000 Shares beingfully paid up by ttiem m cash). The remaining 30,000 Shares are offeied to the public : 20,000 m New Zealand, and 10,000 reserved for the English and Australian markets, a number of which hnve already been bespoken from each of those places. PROVISIONAL DIRECTORS : Alexander Burt, Esq , of Messrs A. and T. Burt, Dunedin. James Robin, Esq., Carriago 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 H» worth, Esq., of Messrs R. and T. Haworth, Merchants, Dunedin. A. S. Gibbs, 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 Sievwright and Stout. BANKERS : The Bank of New Zealand and Branches. BROKERS : Messrs Connell and Moodie, Princes-strret, Dunedin. J. B. Bradshaw, Esq., Princes-street, Dunedin. 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 co»t ; tho whole of the freehold and leasehold lands held by the firm 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 contracts. ' (For the purpose of these and nil other valuations, the gentlemen respectively named hereifter have been appointed by mutual agreement between Messrs Guthrie and Larnaoh and the Provisional Directors.) It has also been arranged tbat 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 8 per cent, per annmra from the day when stook is taken up to tho date of actual payment, and m addition a commission for collecting of two and a half 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 m its own hands the entire connection of th'e 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 m the usual course of business, without cott to the Company. By agreement between the Provisional Directors and Messrs Guthrie and Larnaoh, it has been arranged that the valuation of the freehold and leasehold lands shall be made by Messrs A. W. Morris, C. H. Street, and Edmund- Smith, accountants; the valuation of vessels by Captain Thompson, Otago Harbor Master ; Keith Ramsay, Esq., shipowner ; and Andrew McKinnon, Esq., shipbuilder, Port Chalmers, and that the net cost of buildings, plant, machinery, and stock shall be ascertained from the books and vouohers 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 have been agreed to be allotted to Messrs Guthrie and Larnach, as consideration for the Goodwill of their xerj remunerative business, they undertaking, themselves to pay all preliminary expenses (including brokerage, advertising, Ac.,, Ac.), m 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 m 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 m 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 put of the firm's