Page 3 Advertisements Column 6

Evening Star, Issue 3773, 29 March 1875, Page 3

PROSPECTUS, PEOSPECTUS nOLONIA-L BUILDINGAND INVESTMENT V COMPANY (Limited). 1 To be Registered under “ The Joint Stock Companies’ Act.” Capital ... ... £IOOOOO First Issue, 5,000 Shares of £lO each. * , Q?. 6 shilling to be paid on application, and five shiUings 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 called up without ‘ ' p , “““V 4 uwuwi; soareaoiaers nave the right to make prepayments, and to receive interest at the rate of six per cent, for such sums as may be paid in advance. Provisional Directors. W. J. M. Lamach, Esq. T. Niven, Esq D. Proudfoot, Esq ~ ~ T. M. Eitchie, Esq. T. Birch, Esq. W. Conyers, Esq. C. Ziele, Esq, C. C. Kettle, Esq. Dr Geo. W. Cole P. Lambert, Esq. C. Flexman, Esq., J.P. A, Beck, Esq. With power to add to their number. D. Boss, Esq. T, S. Sibbald, Esq. T. Carroll, Esq. W. W. Woodlands, Esq. C. B. Shanks, Esq. G. Fenwick, Esq. Alex. Gunn, Esq. P. Lambert, Esq., N.E.V. W. Farley, Esq. Bankers. The Colonial Bank op New Zealand. Solicitors. Messrs Bathgate and Buchanan, Temple Chambers. The advantages of Building Societies are so well known that any comment upon them is unnecessary ■ but many borrowers from these societies have found their one 4 - that these advantages arc attended v.-itu s.r.ne objectionable features. A ivvjgst these m iy be noticed—1. {'lie almost total inflexibility of the rules of a soc.oty 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 ef 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 th& term for which he has borrowed the money lias expired. In such circumstances the unfortunate borrower is disappointed to find tw. be has to pay interest to the end of the term, aid 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 he conferred on a large section of the community, and at the «««»*» 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. Land in Dunedin and the neighborhood invariably brings very much higher prices when cut into small allotments, and where a dumber of uniform cottages are built they can be erected at a cheaper rate than an individual house ou the same plan. By adopting this course a highly remunerative business may be 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 he 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 would 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 paid by the purchaser, which, however, would be in the hands of the company, and available for use otherwise. THE OBJECTS OP THE COMPANY.

1. To mate advances byway of mortgage on real estate or leasehold, on such terms as may he 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 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-ssll (either for cash or deferred payments) real estate. 4. To erect houses ou the lands so bought, and sell the same for cash on deferred payments. 5. To receive money on deposit, and pay interest thereon for f uch term and such rates as may be fixed from time to time. 6. To make advances on other approved securities (such as Corporation or Road 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, or any of them. Applications for shares may be made to the undersigned. LOUIS BASCH, Interim Secretary, Temple Chambers, Princes street, Dunedin. FORM OP APPLICATION. To the Directors of the “ Colonial Building and Investment Company” (Limited. Gentlemen,in accordance with the terms of your Prospectus, I hereby apply for Shares in the “ Colonial Budding and Investment Company,*’ and having paid to your Secretary, Mr , at , the sum of , being a deposit of one shilling per share ou shares, I request you to al' ot 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 said. Prospectus, and to pay the instalments thereon in accordance with the said Prospectus, lam, Gentlemen, Signature Name (in full) Address Description, or occupation Date 187 . SB WING 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; all 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 WILE EVEN SEW LEATHER. It will hem, fell, bind, cord, braid, seam, tuck, ruffle, hemstitch, and gather, 't his 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 band... 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 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, Geoigo street, Dunedin (near the Octagon).