Page 3 Advertisements Column 4

Evening Star, Issue 3775, 31 March 1875, Page 3

PBO PEOTTJB. PROSPECTUS OF wb (COLONIAL BUILDING AND INVESTMENT j COMPANY (Limited). [ To be Registered tinder “ The Joint Stock j Companies* Act.” ! CArr L¥' £IOO,OOO First losna, 5,000 Shores of £lO each. 6ne 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 mans net to he called up without riving at least notice, and te 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 six per sunt, far such sums as may be paid in advance. i Provisional Directors. W.J. M. Larnaah, Esq. T. Niven, Bsq. D. Proudfoot, Esq. ~ T. M. Ritchie, Esq. T. Birch, Esq. W. Conyers, Esq. C. Zlela.Esq. C. C. Kettle, Esq. Dr Geo. W. Cols P. Lambert, Esq. C.Flexman, Esq., J.P, A. Beck, Esq. with power te add to their number, Thb Colonial Bans or New Zealand. Solicitors. Messrs Bathsath and Buchanab, 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 to their cost that these advantages axe attended with some objectionable features. Amongst these may be noticed—1. The almost total inflexibility-of the rales of a society when once established, and the consequent Inability to make alterations that-may be required by variations in the rate*! interest. D. Bom, Esq. T. S. Sibbald, Esq. T. Carroll, Esq. W. W. Woodlands, Esq. C. B. Shanks, Esq. G. Fenwick, Esq. Alex. Gunn, Esq. F. Lambert, Esq., N.B.V, W, Farley, Esq. 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 thd term for which he has borrowed theinoney has expired. In snob circumstances the unfortunate borrower is disappointed to find that he has to pay interest to the end of the term, atd that he is allowed only a comparatively «m<».n rebate. i 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 belibve that a benefit may be 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. i 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 be erected at a «b«mpcr rate than an individual house on the same plan. By adopting this, course 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. Hie ground being subdivided would not fail'to command a higher relative price, and there would undoubtedly be a soring in the con 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 ao%al cost. And if 'the houses were sold for deferred payments, interest would at once accrue to the eompany, not merely on the actual capital invested, 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 otherwife, THE OBJECTS OP THE COMPANY, 1. To make advances by way of mortgage on real estate or leasehold, on such termd as maybe agreed on, the borrower to have power, when desirous, to repay such advances by instalments, including both principal and interest. 2. To bUWU VU Avvvli V AiW| Ui IUUIUJIIOB UUmCvli nV (110 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 oash on deferred payments. . 5. To receive money on deposit, and pay interest thereon for such term and such rates as may he fixed from time to time. 6. To make advances bn other approved securities (snob as Corporation or Rood Board Rates). 7. To afford facilities for the improvement of land. 8. To do all sneh other things as are conducive or incidental te 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 ef the ” Colonial Building and Investment Company** (Limited. Gentlhkbit, —, tn accordance with the terms of your Prospectus, I hereby apply for Shares iu the “ Colonial Building and Investment Company,*' and having paid to your Secretary, Mr , at , the sum of , being a deposit of one shilling per share on shares, 1 request you to allot me that number, and! hereby agree to accept the same or any number’that may be allotted -to ine, subject to the conditions contained in the said Prospectus, and to pay the instalments thereon in acoordanse with the said Prospectus, lam. Gentlemen, • ■ Signature Name (in fauj;.................... Address Description, or occupation Date 187 . SEWING MACHINES. AMERICAN SEWING MACHINES. THE "HOME,” SHUTTLE LOCKi £ STITCH, 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—Hammer, 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 » I uses a straight needle, makes the “ lock-stitch” i (alike on both sides), has a self-adjusting ten-, sion, and is adapted to every variety of for family wear, from the lightest muslins to the heaviest cloths, and WILL EVEN SEW LEATHER. It will hem, fell, bind, cord, braid, seam, took, 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 £ a. d. 4 10 0 6 16 0 8 0 0 Pricks : To run by hand... Do. with fable and li-cddle Half-cabi 1 do. 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 wonld 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 riven; also, needles and parts for all sewing machines in use. i Note the address— ■ WM. MELVILLE, Practical Machinist. George street, Dunedin > (near ins Octagon),