Page 3 Advertisements Column 4

Evening Star, Issue 3776, 1 April 1875, Page 3

PROSPECTUS. PEOSPECTUS OF THE /COLONIAL BUILDING AND INVESTMENT COMPANY (Limited). To bo Begistered under “The Joint Stock Companies' Act.” Camtal £IOO,OOO First Issue, 5,000 Shares of £lO each. One 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 farther sum iif required, but such further sums not to be called up without giving at least three months' notice, and to bo 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 or six per cent, for such sums os may be paid in advance. Provisional W. J, M, Lamaoh, Esq. D. Proudfoot, Esq. T. M. Bitchie, Esq. T. Birch, Esq. W. Conyers, Esq. | C. Ziel-5, Esq. Dr Geo. W. Cole F. Lambert, Esq. C. Flexman, Esq., J.P. A, Beck, Esq. With power to add Directors. T. Niven, Esq. D. Boss, Esq. T. S. Sibbalo, Esq. T. Carroll, Esq. W. W. Woodlands, Esq. C. B, Shanks, Esq. Q. Fenwick, Esq. Alex. Gunn, Esq. F. Lambert, Esq., N.E.V. W. Farley, Esq. to their number. 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 to them cost that these advantages are attended witn 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 thntjjjay be required by vnnations in the rate r hf interest. 2. The expense attending the paying jS of a sum borrowed before the term for which it has been borrowed lias expired. It frequently happens that a borrower from a Budding Society finds (either from selling his property or from other causes) that it is desirable to pay off the sum he has borrowed, when perhaps only n third of the term for which he has Wowed the money Ims expired. In such circumstances the unfortunate borrower is disappointed to find that he has to pay interest to the end of the term, and pat he is allowed only a comparatively mnnii ro. bate. 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 same tune a fair profit may be obtained for the sharehoidOTS, 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 pr"«-< when cut into small allotments, and where a r-mber of uniform coti ages ore built they can be erected at a cheaper rate than an individual house on the mmin 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 uot foil to command a higher relative price, and there would undoubtedly be a saving in the cost oft A- section of the houses. Each house, with its sen* r .plot of ground, might be sold, at a low estfrnw •• tan advance of L 25 per cent, on the actual cot 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 mount of the profit, less, of course, the amount deposit paid by the purchaser, which, however, muld be in the hands of the company, and avail-. - le for use otherwise. THE OBJECTS OF THE COMPANY. 1. To make advances by way of mortgage on real estate or leasehold, on such terms ns 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 pay--1®? 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 pay. ment is mode, according to tables prepared for the purpose. 3. To purchase, lease, hold, and re-sell (either for cosh or deferred payments) real estate. 4. To erect houses on the lands so bought, and sell the some for cash on deferred payments. 5. To receive money on deposit, and pay interest thereon for f uch term and such rates as may he fixed from time to time. 6. To make advances on other approved securities (such as Corporation or Boad 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. FOBM 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 Building and Investment Company," and having paid to your Secretary, Mr , at , the sum of , beinga 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 Glutted to me, subject to the oon'ditions contained in the said Prospectus, and to pay the instalments thereon ia accordance with the said Prospectus. 1 am, Gentlemen, Signature......; N-ime (in full) Address • Description, or occupation Date 187 . SEWING aACj i J NES. AMEKI' AN SOWING MAC-.!.NES. THE “HOMV 8 I D'iTLW LOCK - S LTTCff, 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—Hemraer, 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 usesast : .rM m:-I'm,;’rs the “lock-stitch'’ (alike or •’>. - f-adjustinq tmsion, am; •••• j-' ii- ■- v > i : • yof tv.-.'in ; for family we,u-, th lightest muslins to the heaviest cloths, and WILL EVEN SEW LEATHER. It will hem, fell, bind, cord, braid, seam, tuck, ruffle, hemstitch, and gather, 'i 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 bynaud... Do. with table and treddle Half-cabinet do. £ s. d. 4 10 0 (i 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 A'D AMERICAN .‘'EWING M\CHIN.it: Dl l’ilT. 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 I (near the Octagon).