Page 3 Advertisements Column 4

Evening Star, Issue 3781, 7 April 1875, Page 3

PROSPECTUS. PROSPECTUS or THB COLONIAL BUILDING AND INVESTMENT V COMPANY (Limited). T* be Registered under "The Joint Stock Companies’ Act." Capital ... ... ... t>t £IOO 000 j First Issue, 5,000 Shares et £lO each. * One shilling to be paid on application, and five ! shiuings per share per month, until £5 per share is ! paid up j afterwards, the Directors te have power te call a further sum |if required, but such further sums net to be called np without giving at least three months’ notice, and te be parable in amounts of five shillings per share per month; shareholders to have tiienght to make prepayments, and to receive interest at the rate of six per oent. for such I sums as may be paid in advance. _ ~ _ Provisional Directors. T. Niven, Esq. D. Proudfoot, Esb, T. M. Ritchie, Esq.? T. Birch, Esq. W. Conyers, Esq. C. Zlele.Esq. Dr Geo. W. Cole F. Lambert, Esq. C. Flexman, Esq./J.P, A. Beck, Esq. D. Boss, Esq. T. S. Sibbald, Esq. T. Carroll, Esq. Wi W. Woodlands,lEso. C. B. Shanks, Esq. O. Fenwick, Esq. Alex. Gunn, Esq. P. Lambert, Esq., N.E.V. W. Faricy, Esq. ijWxth power tojadd to their number. _ (Bonkers. kTHB^CeLesiAL Bakk or New Zealand. Solicitors. Messrs Bathgate and Buchanan, Temple ■ Chambers. jpbejadvantages of Building Societies are so well known that any enirnnant, upon thnm (d rmnernnsm v • hut 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 be required by variations in the latubf interest. 2. The expense attending the paying off of a sum borrowed before the term for which It has been borrowed has expired. !t frequontiy happens that a borrower from a Building Society finds (either from selling his proparty or jTQm ether causes) that it is desirable to pay eff the sum he has borrowed, when perhaps only a third of thfc term for which he has borrowed tiie money has expired. In such circumstances the unfortunate borrower is disappointed to find that he has to par interest to the end of the term, and that he is allowed only a comparatively small reDate. It is therefore proposed to form a company which shall combine all the advantages of a Building Society; without their drawbacks. 6 But, besides the mere lending of money, the promotors believe that a benefit may be conferred on a large section of the community, and at the a obtained for the sharehoiders, 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 prt<*>f when out into small allotments, and where a 'lumber of uniform cottages are bunt they can be erected at a cheaper rare than an individual hense on the rmma 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. Hie 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 onoe accrue to the company, not merely on the actual capital invested, but also on the amount of the profit, less, of coarse, the amount ef deposit paid by the purchaser, which, however, would be in the hands of the company, and available for use otherWU9» THE OBJECTS OF THE COMPANY. J* To make adv-.'ices by wm- of mortgage on real estate or leasehol .m s;;oh tvrms as may be agreed on, the borrower to have i<;> >v t ,r, when desirous, to repay such advances by instalments, including both principal and interest. 2. To enable persons to make investments by payoff per month, which would entitle them to receive LSO, or multiples thereof, at the ®nu of years. The blanks to he-fllled np m 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 cosh or deferred payments) real estate. 4. To erect houses on the lands so bought, and sell the same for cash on deferred payments. 5. To receive money on deposit, and pay Interest thereon fortuch term and such rates as may be AtoS 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. Applications for shares may be made to the undersigned. LOUIS BASCH, Interim Secretary, Temple Chambers, Princes street, Dunedin. POEM OP APPLICATION. To the Directors of the “ Colonial Building and In vestment Company*’ (Limited. Gebtlbhbn,— [n accordance with the terms of your Pro* pectus, 1 hereby apply for Shares ii the * Colonial Building and Investment Company,' and having paid to your Secretary, Mr at , the sum of , being deposit of one shilling per shore on shires, I request you to allot me that number, and hereby agree to accept the same or any smaller nun her that may he allotted to me, subject to the con ditions contained in the said Prospectus, and to pa; the instalments thereon in' accordance with the saii Prospectus. I am. 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 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 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, and will work equally well on silk, linen, woollen, ana CC^ ton 8 00^8 > with silk, linen, or cotton thread. f bIC£ 8 *• To rttn by Band... ...’ Do. with table and treddle Half-cabinet do. £ s. d. 4 10 0 6 15 0 s c ° The above machines can be purchase by weekly payments. Agent for Otago : S. JACOBS, Fancy Goods Importer, Princes street, Dunedin. ENGLISH AND AMERICAN EWING 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 L2los and upwards. Also machines guaranteed, and practical instructions given; also, needles and duplicate parte for all sewing machines in use. Note the address— WM. MELVILLE, Practical Machinist. George street, Dunedin I (near.the Octagon).