Page 3 Advertisements Column 5

Evening Star, Issue 3771, 25 March 1875, Page 3

PROSPECTUS. BEOSPECTUS OF THE /COLONIAL BUILDING AND INVESTMENT V COMPANY (Limited). Te be Registered under “The Joint Stock Companies' Act." Catou. £109,000 First Issue, 5,000 Shares of £lO each. One shilling to be paid on application, and five sniMngs pot share per month, until £5 per share is paid up; afterwards, the Directors to have power to call a further sum if required, but such further sums not to be called up without riving 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 te receive interest at the rate of six per cent, for such sums as may be paid in advance. Provisional Directors. W. J. M. Lantech, Esq. T. Niven, Esq. D. Proudfoot, Esq. T. M. Bitchie, Esq. T. Birch, Esq. W, Conyers, Esq. G. Ziele, Esq. C. C. Kettle, Esq. Dr Geo. W. Colo F. Lambert, Esq. C. Flexman, Esq., J.P. A. Beck, Esq. With power to add to their number. D. BossTEso; T. S. Sibbald, Esq. T. Carroll, Esq. W. W. Woodlands, Esq. C. B. Shanks, Esq. G. Fenwick, Esq. Alex. Gunn, Esq. P. Lambert JEsq., N.BfY. W. Farley, Esq. Bankers. The (Solokial Bank of New Zealahb. 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 die 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 his property or from ether causes) that it is desirable to pay off the sum he has borrowed, when perhaps only a third of the term for which he has borrowed the money has expired. In such circumstances the unfortunate borrower is disappointed to And he has to pay interest to the end of the term, aid that he is allowed only a comparatively small re- 1 hate. - ; 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 pro- i motors believe that a benefit may be conferred on a large section of the community, and at the same time a fair profit maybe obtained for the shareholders, by the purchase of sections in suitable localities, and the erection thereon of houses and cottages. i

Land in Dunedin and the neighborhood invariably brings very much, higher prices when cut into small allotments, and where a number of uniform cottages ore built they can be erected at a cheaper rate than an individual house on the same plan. By adopting this course a highly remunerative business may be done by the company. For ex-' ample, 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 house, with its separate plot of ground, might be t-mI, n‘- ’ovr estimate, at an advance of L 25 per cent ■>;! :!>i- ! <-osi. And if the houses were sold. • ■ i iuterept would at once acc’ ’ > ' ■ 1 ■ 1 not merely on. the actual capital u.oiilcd, stt u;.■>.» on the amount of the profit, less, of course, the amount of deposit. paid by the purchaser, which, however, would be in the hands of the company, and available for use otherwise. THE OBJECTS OF THE COMPANY. 1. To make advances by way of mortgage on zeal estate or leasehold, on such terms as maybe agreed on, the borrower to have power, when desirous, to repay such advances by instalments, including both principal and interest. 2. To enable persons to make investments by paymg 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 foe the purpose. 3. To purchase, lease, hold, aud re-sell (either for cash or deferred payments) teal estate. 4. To erect hooses on the lands bo bought, and sell the same for cash on deferred payments. 5. To receive money on deposit, and pay interest thereon for tuch term and such rates as may he fixed from time to time. 6. To make advances on other approved securities (such as Corporation or Bood Board Bates). 7. To afford facilities for the improvement of land. 8. To do all such other things as are conducive or incidental to the attainment ot the above objects,br any of them. Applications for shares may be nude to the undersigned. LOU IS BASCH, Interim Secretary'. Temple Chambers, Princes street, Dunedin. FORM OF APPLICATION. To the Directors of the “ Colonial Building and Investment Company” (Limited. ObnTl/HMEN, [n accordance with the terms of your Prospectus, I hereby apply for Share* in the “ Colonial Building and Investment Company,” and having paid to your Secretary, Mr , at , the sum of ,beinga 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 he allotted to me, subject to the conditions contained in the said Prospectus, and to pay the instalments thereon in accordance with the said Prospectus, lam, Qentlemen, Signature ... Name (in full) Address Description, or occupation Date IST . 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—Heramer, braider, shuttle, bobbins, oil-can, oil, screwdriver, five needles, gauge, table-clamp, ami directions for use ; all securely packed in stnn.u 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 BEW LEATHER. It will hem, fell, bind, cord, braid, seam, tuck, ruffle, 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 for Otago: S. JACOBS, Fancy Goods Importer, Princes street, Dunedin, ENGLISH AND AMERICAN SEWING MACHINE DEPOT. ANYONE about to Purchase a Sewing Machine would do well to call at the above establishment, where they will find a collection of Hand and Treadle Machines from the best makers, ranging in prices from L2los and upwards. Also machines guaranteed, and practical instructions given ; also, needles and duplicate parts for all sewing machines in use. Note the address— WM. MELVILI/E, Practical Machinist. George street, Dunedin (near the Octagon),