Page 3 Advertisements Column 6

Evening Star, Issue 3784, 10 April 1875, Page 3

PBOSPKOTTJB. PROSPECTUS or THE BUILDING AND INVESTMENT V COMPANY (Limited). To be Registered under “The Joint Stock Companies’ Act.*' Capital ... -M mi £IOOOOO First Issue, 5,000 Shares of £lO each. * a further sum if required, but such furthS sums not to be called up without giving at least three notice, ana to bo payable in amounts of five shillings per share per month; shareholders to have toe right to make prepayments, and to receive interest at the rate or six per cent, for such sums as may be paid in advance. Provisional Directors, w. J. M.Lamach, Esq. T. Niven. Esq. D. Pronrlfoof XW Tk V,. 4 * D. Proudfoot, Esq, T. M. Ritchie, Esq.% T. Birch, Esq. W. Conyers, Esq. C. Zlela, Esq. Dr Geo. W. Cole F. Lambert, Esq. C. Flexman, Eaq.,’J.P. A. Beck, Esq. * D. Boss, Esq. T. S. Sibbald, Esq. T. Carroll, Esq, W. W. Woodlands,{Esq, C. B. Shanks, Esq. Q. Fenwick, Esq. Alex. Gunn, Esq. w?sSsS: ,NEV •nirff 1 * "* r “TWy, Jiisq. With pewer to add to their number. {Bankers. Thb*Colonui£Bank or New Zealand. Solicitors. Messrs Bathgate and Buchanan, Temple Chambers. Thejadvantages 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 ti n rales of a society when once established, and the consequent inability to make alterations that npay be required by variations in the ratmbr interest. 2. The expense attending the paying off of a sum borrowed before the torn 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 ft third of tb& term for which no h&s borrowed the money has expired. In such circumstances the unfortunate borrower is disappointed to find that be has to pay interest to the end of the term, aud 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 Bnildimr 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 rime a fair profit may be obtained for the sbareholdera, by the purchase of sections in suitable localities, and the erection thereon of houses and cottages. Land in Dunedin aud the neighborhood invari* ably brings veiy much higher prictf when cnt into small allotments, and where a lumber of uniform cottages are buut_ they can be erected at a cheaper r&to fcbftu an individual htuso on 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. 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. Bach house, with its separate plot of ground, might be sold, at a low estimate of an advance of L 25 per oenri on the actual cost. And if the houses were sold for deferred payments,: nterest 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 ef deposit paid by the purchaser, which, however, would be m the hands of the company, and available for use otherwise. THE OBJECTS OF THE COMPANY. 1. To make advances by way of mortgage on real estate or leasehold, on such terms as maybe agreed on, the borrower to have power, whendesirons, to repay such advances by instalments, including both principal and interest. . 2. To enable persons to make investments by payper month, which wonld 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-sell (either for cash 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 for euch term and each rates as may be from time to time. 6. To make advances on other approved securities (such as Corporation or Bead 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. POBM OP APPLICATION. To the Directors of the “ Colonial Building and Investment Company” (Limited. Gentlemen,— In accordance with the terras of your Prospectus, I hereby apply for Shares in the ‘‘ Colonial Bull ding and Investment Company,” and having paid to your Secretary, Mr , . . 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 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'. 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 ia 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, and cotton goods, with silk, linen, or cotton thread. Prices : To run by hand... 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 oallat 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 parts for all sewing machines in use. Note the address — « MELVILLE, Practical Machinist. George street, Dunedin (near tne Octagon). |