Page 3 Advertisements Column 6

Evening Star, Issue 3772, 27 March 1875, Page 3

PROSPECTUS. PROSPECTUS OF THE /COLONIAL BUILDING AND INVESTMENT COMPANY (Limited). To be Registered under "The Joint Stock Companies' Act." ClT ™ £IOO,OOO Fu’st Issue, 5,000 Shores of £lO each. One shilling to be paid on apniic-atien, and five sbjUings per 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 willed up without giving at least tnree months notice, and to be payable in amounts of five shillings per share per month ; shareholders to nave the right to make prepayments, and to receive interest at the rate of six per cent, for such sums os may be paid in advance. Provisional Directors. W. J. M. Lornoch, Esq. T. Niven, Esq. D. Proudfoot, Esq. T. M. Ritchie, Esq. T. Birch, Esq. W. Conyers, Esq. C. Ziel i, Esq. 0. C. Kettle, Esq. Dr Geo. W. Cole F. Lambert, Esq. C. Flexman, Esq., J.P. A. Beck, Esq. With pswer to add to their number. ■A • 11 l*CH»ju߀ D. Boss, Esq. T. S. Sibbold, Esq. T. Carroll, Esq. W. W. Woodlands, Esq. C. B. Shanks, Esq, G. Fenwick, Esq. Alex. Gann, Esq. F. Lambert, Esq,, N.E.V, W. Farley, Esq. Bankers. The Goionial Bane op 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; ” u t 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 lie required by variations in the rate of interest. 2. The expense attending the paying off of a sum borrowed before the tern for which it has been borrowed has expired. It frequently happens that a borrower from a Building Society finds (either from selling his propetty or from other causes) that it is desirable to pay off the sum ho has borrowed, when perhaps only n third of thi term for which he has borrowed the money has expired. In such circumstances the unfortunate borrower is disappointed to find that ho has to pay interest to the end of the term, and that he is allowed only a comparatively small 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 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 cut into small allotments, and where a number of uniform cottages are built they can bo erected at a cheaper rate than an individual house on the same plan. ■ By adopting this course a highly remunerative business may bo 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 fail 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 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 weald at once accrue to the company, not merely on the actual capital nvested, but also on the amount of the profit, less, of course, the amount of deposit paidby the purchaser, which, however, would be in the hands of the company, and available for use otherwise. THE OBJECTS OP THE COMPANY. 1. To make advances by way of mortgage on real 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 paying . per month, which would entitle them to receive LaO, or multiples thereof, at the I end of years. The blanks to be filled up in each case at the time the first monthly payment is mode, according to tables prepared for the purpose. 3. To purchase, lease, hold, and re-sell (either for cosh dr deferred payments) real estate. 4. To erect houses outhe 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 (such as Corporation or Bond 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 of the above objects, or any of them. for abates maybe made to theun-dei-bigaoit. LOUIS BASCH, Interim Secretary, Temple Chambers, Princes street. Dunedin. POEM OP APPLICATION, To the Directors of the " Colonial Building and In vestment Company” (Limited. Gentlemen,— Cn accordance with the terms of your Pros pectus, I hereby apply for Shares ii the “ Colonial Budding and Investment Company,' and having paid to your Secretary, Mr at , the sum of , being i deposit of one shilling per share ou shares, I request you to allot me that number, and' hereby agree to accept the some or any smaller num her that may be allotted to me, subject to the con ditdons contained in the said Prospectus, and to pa; the instalments thereon in accordance with the sal! 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 com* plete. 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; all securely packed in strong case, with hinges. r 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, ruffle, hemstitch, and gather. This machine will sew on and gather at the same time, ah will work equally well on sUk, 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 0 615 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 L2 10s and upwards. Also machines guaranteed, and practical instructions given; also, needles and duplicate parts for all sewing machines in use. Note the address—- . WM. MELVILLE, Practical Machinist, George street, Dunedin (near the Octagon).