Page 3 Advertisements Column 4

Evening Star, Issue 3780, 6 April 1875, Page 3

PBOSPBOTXJB. PBOSPBCTUS Cor THE OLONIAL BUILDING AND INVESTMENT COMPANY (Limited). To be Registered under “The Joint Stock Companies’ Act.” Camtix ... £IOO,OOO Pint Issue, 5,000 Shares tf £lO each. One shilling to be paid on application, and five shillings per share per month, until £5 per share is P a i < l up; afterwards, the Directors te nave power to call a further stun .if required, but such further sums not to be called up without giving 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 to receive interest at the rate of six per cent, for such suns as may be paid in advance. Directors. T. Niven, Esq. D. Boss, Esq. T. S. Sibbald, Esq. T. Carroll, Esq. W. W. Woodlands,' Esq. C. B. Shanks, Esq. G. Fenwick, Esq, Alex. Gunn, Esq. to their number. Provisional W. J. M. Lamach, Esq. D. Proudfoot, Esb. T. M. Bitchle, Esq.* T. Birch, Esq. W. Conyers, Bsq. C. Ziele.Esq. Dr Geo. W, Cole F. Lambert, Esq. C, Flexnmn, Esq.^J.P. A. Beck, Esq. With power to^add m M Bankers. Bank of New Zealand. Solicitors. Messrs Bathgate and Buchanan, Temple Chambers. Thojadvantages 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 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 thatjnay be required by variations in the mtoSl 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 payoff the sum he has borrowed, when perhaps only a third of th 6 term for which ne has borrowed «ie money has expired. In such circumstances the unfortunate borrower is disappointed to find that he has to pay Interest to the end of the term, and that he is allowed only a comparatively mrinii «. bate. It is therefore proposed to form a company which shall combine all the advantages of aßuilding Society, withont 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 same 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 when cut into small allotments, and where a number of uniformcottages are built they can be erected at a cheaper rate than an individual house on the same plan. By adopting this coarse 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 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 of 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, hut also on the amount of the profit, less, of course, the amount ef deposit paid by the purchaser, which, however, would be in the hands of the company, and available for use otherwise. TB[E OBJECTS OP THE COMPANY. 1. To make advances by way of mortgage on real estate or leasehold, on such terms as may be agreed on, the borrower to have power, whenaesirous, 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 multiplea thereof, at the end of years. The blanks to he filled up in each case at the time the first monthly pay. ment 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 some for cash on deferred payments. 5. To receive money on deposit, and pay interest thereon for euch term and such rates as may be 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 axe conducive or incidental te the attainment of the above objects, or any of them. Applications for shares may be made to the undersigned. LOUIS BASCH, Interim Secretory, Temple Chambers, Princes street, Dunedin. POEM 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 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. t :i:u, Geutlonifu, Signature Name (in full) Address Description, or occupation..... Date 187 . SEWING MACHINES. AMERICAN SEWING MACHINES. THE “HOME,” SHUTTLE LOOKSTITCH, 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 “look-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, hind, 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: £ s. d. To run by hand... ... ... 410 0 Do. with table and treddle ... 615 0 Half-cabinet do. ... ... 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 a MACHINE DEPOT. 1 A NYONE about to Purchase a Sewing a r\ Machine would do well to call at the 3 above establishment, where they will find a - collection of Hand and Treadle Machines from r the best makers, ranging in prices from L2 10s a and upwards. Also machines guaranteed, and practical in- , stmetions given; also, needles and duplicate ‘ -rts for all sewing machines in use. the address— WM. MELVILLE,