Page 3 Advertisements Column 5

Evening Star, Issue 3769, 23 March 1875, Page 3

PBOSPBOTTJS. PEOSPECTUS OF THE /COLONIAL BUILDING AND INVESTMENT V COMPANY (Limited). To be Registered under “The Joint Stock Companies’ Aet." Capital £IOO,OOO First Issue, 5,000 Shores of £lO each. One shilling to be paid on application, and five shillings per share per month, until £5 pet share is up; afterwards, the Directors to hove power to call a farther sum if required, but such farther sums not to be called to without giving at least three months' notice, and to be payable in amounts of five shillings per share per month; shareholders to. have the right to make prepayments, and to receive interest at the rate of sir per cent, for such sums as may be paid in advance. Provisional Directors. W. J. M. Lomach, Esq. T. Niven. Esc. D. Proudfoot, Esq. T. M. Bitchie, Esq. T. Birch, Esq. W. Conyers, Esq. G. Ziele, Esq. C. C. Kettle, Esq. Dr Geo. W. Cole F. Lambert, Esq. C. Flezman, Esq., J.P. D. Eoss/Esq. T. S. Sibbald, Esq. T. Carroll, Esq. W. W. Woodlands, Esq. G. B. Shanks, Esq. G. Fenwick, Esq. Alex. Gunn, Esq. F. Lambert, Esq., N.E.V. W. Farley, EsqT A. Beck, Esq. With power to add to their number. Bankers. Tan Colonial Bans of New Zealand. Solicitors. Messrs Bathgate and Buchanan, Temple Chambers. The advantages of Building Societies ore so well known that any comment upon them is unnecessary • but many borrowers from these societies have found to their cost that these advantages are attended with some objectionable features. Amongst these may be noticed—1. The almost total inflexibility of the rules of a society when once established, and the consequent inability to make alterations that may be required by variations in the rate of interest. 2, The expense attending the paying off of a sum borrowed before the term for which it has been borrowed has expired. It frequently happens that a borrower from a Building Society finds (either from selling bis property or from ether causes) that it is desirable to pay off the sum he has borrowed, when perhaps only a third of thd term for which he has borrowed the money has expired. In such circumstances the unfortunate borrower is disappointed to find that he has to pay interest to the end of the term, and that he is allowed only a comparatively anudi rebate. It is therefore proposed to form a company which shall combine all the advantages of a Building Society, without their drawbacks. But, besides the mere lending of money, the promoters believe that a benefit may be conferred on a large section of the community, and at the —mo time a fair profit may be obtained for the shareholders, by the purchase of sections in suitable' localities, and the erection thereon of houses and cottages. Land in Dunedin and the neighborhood invariably brings very much higher prices when out into, small allotments, and where a number of uniform cottages are built they can he erected at a cheaper rate than on individual house on the same plan. By adopting this coarse a highly remunerative business may he done by the company. For example, suppose a piece of ground was acquired and several houses were erected thereon. The ground being subdivided would not foil to command a higher relative price, and there would undoubtedly be a saving in the cost of the erection of the houses. Each hqase, with its separate plot of ground, might be sold, at a low estimate, at an advance of L 25 per cent, on the actual cost. And if the houses were sold for deferred payments, interest would at once accrue to the company, not merely on the actual capital invested, but also on the amount of the profit, loss, of course, the amount of deposit paidhy the purehi- which, however, would be m the Iviiuis oi IV' company, and available for use other-

THE 08/lOCTS OF THE COMPANY. 1. To make advances by way of mortgage on real estate or leasehold, on such terns as may be agreed on, the borrower to hare power, when desirous, to repay such advances by instalments, including both principal and interest. 2. To enable persons to make investments by paying... per month, which would entitle them to receive LSO, or multiples thereof, at the end of years. The blanks to be filled up in each case at the time the first monthly payment is made, according to tables prepared for the purpose. 3. To purchase, lease, hold, and re-sell (either for cash or deferred payments) real estate. 4. To erect houses on the lands so bought, and sell the same for cash on deferred payments. 5. To receive money on deposit, and pay interest thereon for such term and such rates as may be fixed from time to time. 6. To make advances on other approved securities as Corporation or Eoad Board Sates). 7. To afford facilities for the improvement of /acid. 8. To do all such other things as are conducive or iniffi-lental to the attainment of the above objects, or n~ny * of them. Applications for shares may he made to the undersigned* „ LOUIS BASCH, Interim Secretary, Temple Chambers, Princes street, Dunedin. £'OEM OP APPLICATION. To tbe DireclV).™ of the “ Colonial Building and In- . vestment .Company” (Limited. GBOTUE ME!?,-■* . En accordance with the terms of your Prospectus, I hereby iVjPPIy for, , Shares in fee “ Colonial Builuung and Investment Company,” and having paid to yc'nr Secretary, Mr ■, at , tbe sum of , being a deposit of one shilling per share on shares, I request you to .allot me that number, and I hereby agree to accept the' same or any smaller number that may be allotted to me, subject to the conditions contained in the ssid Prospectus, end to pay the instalments thereon in. accordance with the said Prospectus, lam, Gentlemen, Signature Name (in full). Address Description, or occupation Date 187 . SEWING MACHINES. AMERICAN SEWING MACHINES. THE “ HOME, ” SHUTTLE LOCKSTITCH, The Perfection of Mechanism. Simple, compact, efficient, durable, and complete. IT sews with the least possible amount of labor, and a girl of twelve years old can run it without fatigue, With this machine is furnished—Hemmer, braider, shuttle, bobbins, oil-can, oil, screwdriver, five needles, gauge, table-clamp, and directions for use; &U securely packed in strong case, with hinges. THIS UNEQUALLED MACHINE uses a straight needle, makes the “lock-stitch” (alike on both sides), has a self-adjusting tension, and is adapted to every variety of sewing for family wear, from the lightest muslins to the heaviest cloths, and WILL EVEN SEW LEATHER. It will hem, fell, bind, cord, braid, seam, tuck, raffle, hemstitch, and gather. This machine will sew on and gather at the same time, and will work equally well on silk, linen, woollen, and cotton goods, with silk, linen, or cotton thread. Prices: To run by hand... Do. with table and treddle Half-cabinet do. £ s. d. 4 10 0 6 15 0 8 0 0 The above machines can be purchase by weekly payments. Agent tor Otago: S. JACOBS, Fancy Goods Importer, Princes street, Dunedin. SEWING MACHINES. SEWING MACHINES. “ THE NEW ‘BUCKEYE* LOCKSTITCH HAND MACHINE.” “THE WILSON LOCKSTITCH STAND MACHINE.” INTENDING Purthasers of Sewing Machines should inspect these ’ famous Machines previous to spending their money elsewhere. We only ask for an inspection, as they recommend themselves in Price ana Superiority above all offered in the market. Wholesale and Retail. S. DE BEER & CO., Stafford btbkbt, Sole Agents for New Zealand.