Page 4 Advertisements Column 3

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

Miscellaneous. tinde, und tbe promoters feel confident tliat they can be mest saftly and profitably extcn'.'e !. " ! In tbe New Zr-nlind Wojdwnre Factories th.-re are four di;tii:ct departments, viz. : — i Ist. Savtii.g, Planing, and MouMingFactory. j 2nd. Doi,r and fash Factory. ! 3rd. Tub ar:d Bucket ir a-.'torv. ' ■It 1 .. Furniture »nd Turnery "Factory. The tr.id.- of each of these works is cip.iVi'e of great and prolitab!' 1 ext-nsion, a;;d m an j evidence of the peat out'et for the pruducts of ilu-fe works, .Mo-?ri Guthrie and Lirnach '■ have bivn compelled to rim the machinery ! overtime, on nn nveraa? two nights per week, ! since the opfnm^ of the new Factories. 'Ihe whole of the cxten'ive Factories and i Stores (spreirtliy do«igned l.y Pavid Ro««. K?q., architect, of this citr) are mbftantially built of brick and cement, on solid b uestine and concrete foundations (all timber bring of | the best and most durable descriptions), covering an urea, including the timber yards, of »rTeral acres of valuable land m the chief streets of the city.' ■ The whole of the splendid modern machinery wns designed nnd plnnned by nn eminent engineering firm m Glasgow, under Mr Outline's immediate supervision while m Britain, and after a v»ry careful inspection of the principal woodware fnct^riep m America, Uritain, and on the Cmitinent. Each machine has I een firmly placed on a eolid 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 int j when materials and labor m Scotland wen- at their lowest. The important advantages to shareholders m n Joint Stock Company of entering into po'sesMon of ft large imiiu r actnring and importing business m full qnerntion <n a fixed date, nith a thoroughly-trained staff of oflic crs and mem and a large mercantile connection, without having to wait for the erection of bud lin_'«, importation of plant, stock, Ac, or bcini; subjected to any of the risks and delnvs incidental lo the s'arting of n new business, ami with all preliminary expenses paid, should be at. once apparent to investors. The following special advantages are worthy of notice : — Ist. Tho whole of the machinery m the Factory is driven by one piir of powerful engines, worked by two men — an engineer and fireman — whose wages may fairly be »aid to constitute the whole expense m connection with tho 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 large brick safe, ready foreonsumpt ion, 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. 'llii- four Factories being worked under one ro >f, a pro it saving is consequently effected, not only m the motive power, but also m the management, as the whole cun be supeiiut nded 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 Australian Colonies. A large return may therefore be looked for to the credit of this branch of Ihe business. 4th. The who'e of the Factoriei, especially tho Furniture Factory, being worked m connection with the gcsiernl timber business, is carried on mnsWpriifiiably, not only from the ' fact that the first cost of the timber being procured at the chcapeet possible rate, but ulso that large quantitities of short cuttings of timber, which would otherwite either be sold as job lots at a low price, or sent to the furnaco to bo consumed as fuel, are utilised. The Union Saih and Door Company m I Auckland ia of a similar character to tho New Z^'uland Woodware Factories, only being much less extensive. It is, however, a fair criterion to ba;c calculations upon, as to what moy b>s expected from tho New Zealand • Woodwaro 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 lurge amounts to reserve funds ; so that, m addition to the very handsome yearly dividends, the original £5 shares of the Company sro now quoted nt £7 10s, and a n«w issue allotted to shareholders, on which £2 10s has been paid up folcly out of reserve fund, are quoted at £3 10s, making the present total , market value cf the original shares £11, or a premium of 120 per cent. Jn connection with this, it is a fact that the profits shown to hay* been made m Messrs Guthrie and Larnach's business for i the lamo period considerably exceed that i made by the Uuion Company m proportion to i the capital invested ; to that the promoters ■ have good reison for believing that not only will large dividends be paid regularly by i the Company, but that its stock will at once s beeomo a much sought-after and favorable i investmentMr Guthrie has consented to be fully i identified with ths business for a number of - years as Managing Director. Mr Gnthrii-'s b practical skill nnd long experience m the t trade are well known ; the high position to I which the firm has attained under his man- - agement indicates the measure of prosperity r which may reasonably be expected m the I future ; and as a proof of Mr Guthrie and r his partner's faith m the future prospects of r concern, they are willing to hold one-fifth 3 each, or equul to two-fifths of tho entire I capital on thoir own private account, pur- - chaeetl m fully paid-up shares. And as a ) further proof of their confidence m the future b prospects of the Company, they have decided \ to guarantee that tho Company's net profits r for the first three years shall not be Jess than ) 10 per cent, per annum on the actual capital - for the time being employed m the business, k or equal to a sum of about £57,000 to be l paid to the shareholders within three years. - They expect and believe that the profits will considerable exceed this rat«, but investors b will by this means know the rate of their b minimum profits. By way of further securing 5 the observance of the §uarantee, the firm 1 have agreed to deposit with the Directors of - the Company scrip of the Company during . the first year of tho value of £50,000, during i tho second year of £40,000, and during the j third year of £25,000, and (o execute a legal • charge upon the same m favor of the Company. Intending shareholders may therefore rest t assured that no more legitimate or remuneras tive outlet for their capital, or one presenting r better or more extensive future prospects, has ■ ever been offered m New Zealand. [ The reasons which have induced Messrs r Guthria and Larnach to take this ftep are — ; Ist. That their term of partnership expires , by eiHuxion of time jn 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 profitabe trade, which, however, calls i for the employment of an extended capital. [ , The valuation of the freehold and lease' . hold lands, with full particulars "S to amount ■ of capital employed and net profits realised i during the la»t four and a-half years, taken . from the firm's books, and certified by Mrssrs , A- W. Morris, C. H. Street, «nd Edmund i Smith, valuators and auditors, togethtr with i 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 Jnly, at 4 p.m., and, m making the «llotment (lie Provisional Directors will consider the order m which applications have been made. Forms of applications for Shares can b« obtained at the offices of Messrs Guthrie and Larnach ; or of Mestrs Connell and Moodit, or J. B. Bradshaw, Brokers ; or ef Htssrs Tatk and Hall, Timaru, who art authorized ito receive applications for Sfaarw l^ju {