Page 4 Advertisements Column 3

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

Miscellaneous. I tiade, and the promoters feel confident that they can be most safely and profitably ex- i tended. " ', f In the New Z-nland Woodware Factories | . there are four distinct departments, viz. :— Ist. Sawing, Planing, and Moulding Factory. 2nd. Door and Sash Factory. 3rd. Tub and Bucket Factory. 4th. Furniture and Turnery Factory. The trade of each of these works is capable of great and profitable extension, and as an e*idenqeof,the great outlet for the products of thrssWorks, Messrs Gulhrie and Lmnach have been compellrd to run the machinery OTertime, on an average two nights per week, since the opening of the new Factories. The whole of the extensive Factories and Stores (spfcinlly designed by David Ross, Esq., architect, of this city) are substantially built of brick and cement, on solid bluestone and concrete foundations (all timber bring of he best and most durable descriptions), covering an area, including the timber yards, of several acres of valuable hind m the chief streets of the city. The whole of the splendid modern machinery was designed and planned by an eminent engineering firm m Glasgow, under Mr Guthrie s immediate supervision while m Britain, and after a very careful inspection of the principal woodware factories m America, Britain, and on the Continent. Each machine has been firmly placed on a solid bed of concrete where necesrary, 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 m Scotland wen? at their lowest. The important advantages to shareholders m a Joint Stock Company of entering into possession of a large m-wufacturing and importing business m full operation on a fixed date, with a thoroughly-trained staff of officers and men and a large mercantile connection, without having to wait for the erection of buildings, importation of plant, stock, &c., or being subjected to any of the risks and delays incidental to the starting of a new business, and with all preliminary expenses paid, should be at once apparent to investors. The following special advantages are worthy of notice : — Ist. The whole of the machinery m the Factory is driven by one p*ir of powerful engines, worked by two men — an engineer and fireman — whose wages may fairly be said to constitute the whole expense m connection with the motive power, as the only fuel required to keep up steam is the sawdust and shavings druwn from the different factories as soon as made, by means of pneumatic tubes, and deposited m a large brick safe, rendy for consumption, alongside the boiler. By this means all rubbish is utilised and made a source of profit, and the cost of labor reduced to a minimum. 2nd. The four Factories being worked under one roof, a preit Bavins; is consequently effected, not only m the motive power, but also m the management, as the whole can be superintended and controlled by one manager. 3rd. The Tub and Bucket Factory, now m full operation, has a monopoly of the supply of these indispensable articles, there being no other tub and bucket factory m the Austral inn Colonies. A large return may therefore be looked for to the credit of this branch of the business. 4th. The whole of the Factories, especially the Furniture Factory, being worked m connection with the general timber business, is carried on most profitably, not only from the fact that the first cost of the timber being procured at the cheapest possible rate, but also that large quantities of short cuttings of timber, which would otherwise either be sold as job lots at a low price, or sent to the furnace to be consumed as fuel, are utilised. The Union Sa»h and Door Company m Auckland is of a similar character to the New Zealand Woodware Factories, only being much less extensive. It is, however, a fair criterion to baee calculations upon, as to what muy bo expected from the New Zealand Woodware Factories. The Company referred to has only been m active operation a little over four years, and has paid annual dividends of 20 per cent., besides carrying lnrge amounts to reserve funds ; so that, m addition to the very handsome yeurly dividends, the originul £5 shares of the Company ■re now quoted ot £7 10s, and a new issue allotted to shareholders, on which £2 10s has been paid up solely out of reserve fund, are quoted at £3 10s, making the present total market value of the original shares £11, or a premium of 120 per cent. In connection with this, it is a fact that the profits shown to have been made m Messrs Guthrie and Larnach's business for the fame period considerably exceed that made by the Union Company m proportion to the capital invested ; to that the promoters have good reuson for believing that not only will large dividends be paid regularly by the Company, but that its stock will at once become a much sought-after and favorable 'investment. Mr Guthrie has consented to be fully identified with the business for a number of years as Managing Director. Mr Guthrie's praotical skill and long experience m, the trade are well known ; the high position to which the firm has attained under his management indicates the measure of prosperity which may reasonably be expected m the future ; and as a proof of Mr Guthrie and his partner's faith m the future prospects of concern, they are willing to hold one-fifth each, or equal to two-fifths of the entire capital on their own private account, puschased m fully paid-up shares. And as a further proof of their confidence m the future prospects of the Company, they have 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 capital for the time beiDg employed m the business, or equal to a sum of about £57,000 to be paid to the shareholders within three years. They expect and believe tbat the profits will considerable exceed this rate, but investors will by this means know the rate of their minimum profits. By way of further scouring the observance of the guarantee, the firm have agreed to deposit with the Directors of the Company scrip of the Company during the first year of the value of £50,000, during the second year of £40,000, and during the third year of £25,000, and to execute a legal charge upon the same m favor of the Company. Intending shareholders may therefore rest assured I hat no more legitimate or remunerative outlet for their capital, or one presenting better or more extensive future prospects, has ever been offered m New Zealand. The reasons which have induced Messrs Guthrie and Larnach to take this step are — Ist. That their term of partnership expires by effluxion of time m the course of a few .months, when it is .the intention of one of the partners to retire from active business. 2nd. That the plant, machinery, and geneß appliances of the firm are now of a character which opens up a largely extended and extremely profitable trade, which, however, calls for the employment of an extended capital. The valuation of the freehold and leasehold lands, with foil particulars as to amount of capital employed and net profits realised daring the last four and a-half years, taken from the firm's books, and certified by Messrs A. W. Morris, C. H. Street, and Edmund Smith, * aloators and auditors, together with a copy of the agreement entered -into with the firm by the Provisional Directors, may be obtained by bona fide intending investors from the Brokers. The Share List will close on TUESDAY, 31st July, at 4 p.m., and, m making the allotment the Provisional Directors will consider the order m which applications have been: made. Forms of applications for Shares can be obtained at the offices of Messrs Guthrie and Larnach ; or of Messrs Connell and Moodie, or J. B. Bradshaw, Brokers ; or «f Messrs Tats and Hall, Timaru, -who ar« authorised to. reoerre applications for SharerJ l^u