Page 4 Advertisements Column 3

Timaru Herald, Volume XXVII, Issue 1763, 25 June 1877, Page 4

Miscellaneous. ! ;iade, und the promoters feel confident that iliey can be most safely aud profitably ex:en<le<l. ; In the New Zealand Woodware Fartories • there are (our distinct department*, tiz. : — I Ist. Sawitg, Planing;, and Moulding Factory, j 2nd. Door and sk»h Factory. 3rd. Tub and Bucket factory. 4th. Furniture and Turnery Factory. The tradr of each of thrse works is c»pable 1 of great and profitable extension, and a* an evidence of the great outlet for thr products of these works, Ms<srs Quthrie and Larnach have been compelled to run the machinery overtime, on an averagn two nights per week, since the opening of the new Factories. The whole of the extensive Factories and Stores (specinlly designed by David Boss, | Esq., architect, of thit city) are substantially built of brick and cement, on solid bluestone and concrete foundations (alt timber being of the best and most durable descriptions), covering an area, including the timber yards, of several acres of valuable land 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 Quthrie s immediate supervision while m Britain, and after a very careful inspection of the principal woodware factories m America, Britain, and on tbe Continent. Each machine has been firmly placed on a solid bed of concrete where necessary, to preveut the possibility of vibration, and to aroid wear and tear. The contract for the purchase of machinery was entered into when materials and labor m Scotland were at their lowest. Tbe important advantages to shareholders m a Joint Stock Company of entering into possession of a large manufacturing 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 miildings, 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 flremnn — 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 .drawn from the different factories as soon as made, by means of pneumatic tubes, and deposited m a largo brick safe, ready 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 great saving 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 indisponsable articles, there being no other tub and bucket factory m the Australian 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 tbe timber being procured at the cheapest possible rate, but also that large quantttities 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 Sath 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 bate calculations upon, as to what may be 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 large amounts to reserve funds ; so that, m addition to the very handsome yearly dividends, the original £5 shares of the Company are now quoted at £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 bare been made m Messrs Guthrie and. LarnaeVi's business for the fame period considerably exceed that made by the Union Company m proportion to the capital invested ; so that the promoters hare good reason for believing that not only will large dividends be paid regularly by the Company, but that its stook will at once become a much sought-after and favorable investment. Mr Quthrie has consented to be fully identified with the business for a number of years as Managing Director. Mr Guthrie's practical skill and long experience m the trade are well known ; the high position to wbicb 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 Quthrie 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 tbe entire capital on their own private account, purchased m fully paid-up shares. And as a further proof of their confidence m the future prospects of the Company, they hare decided to guarantee that the Company's net profits for tbe first, three year*. shall not be less than 10 per cent; per annum on the actual capital for the time being 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 that the profits will considerable exoeed this rote, but investors ' will : by this means know the rate of their minimum profits. By way of further securing the*, observance of the guarantee, the firm have agreed to deposit with tbe 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 that 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 Quthrie 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 general 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 lease- ' hold land*, with full particulars as to aptount of capital employed and net profits realised during the lait four and. 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 1 copy of the agreement entered into with the firm by the Provisional Directors, may be obtained by lona fide intending investors from ', the Brokers. ' Theßhare List wfll close on TUESDAY, : l 31st July, at 4 p,m- ( and, m mp^ng the allotment, tb e Provisional Directors will coWder , the order m which applications have been made. ' . . Forms of applications for Shares can ba obtained at the offices of : Messrs Guthrie and Larnach ; or of Messrs Conn ell and Moodis, or J. B. Bradshaw, Brokers ; or af Messrs TATtfrapcl Haju^ TjrvmrUfwho art authorised to recdre appllcttions for Bh*as l^ja