Page 4 Advertisements Column 2

Timaru Herald, Volume XXVII, Issue 1761, 26 June 1877, Page 4

Miscellaneous. LEVELS ROAD BOARD. CAUTION. THE PuV.ic ar« hereby CAUTIONED; that the approach to the CROSSING I of the OPIHI, on the Main Line of Road is | dangerous. lir ordi-r of the Eoard, W. C. BESWICK, j ISiu Chairman. | J I TIMARU BOROUGH COUNCIL. j CELEBRATION OF TIIE OPENING | OF TJIB BOROUGH COUNCIL CHAMBERS By a Ball and Baxqckt. IT 13 REQUESTED that early application for Tickets bo made to the Members of the Committee, viz., liis Worship the Mayor, Councillors Jona«, Slanse'l, and Bush, as only a limited number will be iisucd. EDWIN ll r. LOUGH, fJglGjii Town Clerk. TO TIIE PUBLIC OF TIMARU. ~VTOTICE is rci-pec 1 fully given thnt the -^ principal STORES wil m future CLOSE at 9 o'clock on SATURDAY EVENINGS, commencing on Saturday next June 23. 22ju PROSL'ECTUS OF GUTIIRIE AND LARNACH'S NKW ZEALAND TIM HER AND WOODWARE FACTORIES -(LIM'-n^D-)-CAriTAL- £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 Cull, at intervuls of not less than three months, thus extending tho total payments over a period of one year from date of allotment. 20,000 Shares, fully paid up, are retained by Me?srß Guthrio and Larnach (1000 being allotted for tho Goodwill of the Busineis and the preliminary expenses of float ing tho Company, and the remaining IG.OOO Shures being fully paid up by them m cash). Tho remaining 30,000 Share* are offered to the public : 20,000 m New Zealand, and 10,000 reserved for the English and Australian markets, a number of which have »lready been bespoktn from each of those places. TXOVISIONAL DIEECTOIiS : Alexander Burt, Esq., of Messrs A. and T. Burt, Dunedin. James Rubin, Esq., Carriage Manufacturer, Duuedin. Robert Spat row, Esq., Dunedin Iron Works, Dunedin. Bnsil Sicvwright, Esq., Solicitor, Dunfdin. G. S. Br.idrick, Shipping nnJ Insurance Agent, Dunedin. William Moodie, Esq., Manager New Zealand Meat Preserving Company, Kakanui. Robert Huworth, Esq., of Messrs R. and T. Haworth, Merchants, Dunedin. A. S. Gibbs, Esq., ol Messrs Gibbs and Clayton, Merchants, Dunedin. John Reid, Esq., Merchant, Auckland. VALUATOES AND ACDITOBS : A. W. Morris, Esq. ; C. 11. Street, Eiq. ; and Edmund Smith, E<q. VALUATORS FOB VESSILS. Captain Thomson, Harbor Master. Andrew M'Kinnon, Eiq., Shipbuilder, Mayor of Port Chalmers. Keith Ramsay, Esq., Shipowner. SOLICITOUS : Messrs Sievwright and Stout. BAKKKKS : ' The Bank of New Zealund and Brnnches. BROKERS : Messrs Connell and Moodie, Princes-street, Dunedin. J. B. Brndshaw-, Esq., Princes-Btreet, Dunodin. This Company is projected for the purpose of purchasing and thereafter carrying on Messrs Gutlirie nnd Larnach's well-known Woodwnre Factories and their extensive Importing Timber and Iroa Business. An agreement has been entered into with Messrs Gutlirie and Larnach (o sell to the Company their new Factories, together with all their other buildings, with tbe entire machinery, plant and stock of every description at the actual net eo»t ; tho whole of the f reeho'd and leasehold lands held by tho firm at present market value ; and their useful fleet of Consting Vessels, also nt present actual value, the new Company taking over all current agreements and uncompleted orders or contracts. (For the purpose of these and r. 11 other valuations, the gentlemen respectively named heretfter have been appointed by mutual agreement between Messrs Guthrio and Larnach and the Provisiopal Directors.) It has blso been arranged tbat the new Company shall take over the entire debts due to the firm secured nnd unsecured at par, but shall be entitled to receive on all unsecured debts interest nt the rnle of 8 per cent, per minim from the day when stock is taken up to the date of actual payment, and m addition a commission for collecting of two and a half per cent., Messrs Guthrio and Larnach guaranteeing the entire amouut of (he unsecured debts lo 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 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 m the usual course of business, without cost to the Company. By agreement between the Provisional Directors and Messrs Guthrio and Larnach, 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 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 have been agreed to be allotted to Messrs Guthrie and Larnach, us consideration fur the Goodwill of their very remunerative business, they undertaking themselves to pay all preliminary expenses (including brokerage, advertising, &c, &c), m connection with the floating of the Company. Stock will be taken as ou the day the Company enters into possession, and tbe 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 b« 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 regnlarly m carrying supplies for the requirements of the Factories as well aa open markets. Tho Import, Iron, and Hardware business of (he firm is also very extensive. These several branches at present represent a most valuable and important part of the firaV