Page 4 Advertisements Column 4

Evening Star, Issue 3786, 13 April 1875, Page 4

PROSPECTUS. PROSPECTUS OF THE BUILDING AND INVESTMENT COMPANY (Limited). " To be Registered under “ The Joint Stock Companies* Act.’* Capital £IOO,OOO First Issue,; 5,000 Shares of £lO each. One shilling to be paid on application, arid five sb Rings per shore per month, untß £5 per share is . paid up; afterwards, the Directors to have power to caß.a further sum 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 sums as may be paid, in ad van be. Provisional Directors. W, J. M. Lamach, Esq. T. Niven, Esq. D, Prqndfoot, Esq. T, M. Ritchie, Esq.s T. Birch, Esq. W. Conyers, Esq. C. SJiel i, Esq. Dr Geo. W. Cole F. Lambert, Esq. C. Flcxnmn, Esq., J.P. A, Beck, Esq. D. Ross, Esq.' T. S. Sibl>ald,'Esq. T. Carroll, Esq. W. W. Woodlands,(Esq. C. B. Shanks, Esq. G. Fenwick, Esq. Alex. Gunn, Esq. F. Lambert, Esq., N.E.V, W. Farley, Esq. With pewer to add to their number. (Bankers. The~Colonial"Bank op New Zealand. ■ Soßcitors. Messrs Bathgate and Buchanan, Temple Chambei*. . r The7advantages of Building Societies are so well; known that any comment upon them is unnecessary; but many borrowers from these societies have found 1 to their cost that these advantages are attended 1 with some objectionable features. Amongst these may be noticed— ■ J 1. The almost total inflexibility of the rules oL a society when once established, and the' consequent inability to make alterations’ that may be required by variations in the . rate of interest. 2. The expense attending the paying off of a ' ’ sum borrowed before the term forwhich it - has been borrowed has expired.. It frequently happens that a borrower from a Building Society finds (either from selling his pro*' I’orty or from other causes) that it is desirable to‘ pay off the sum he has borrowed, when perhaps! only n third of thd tern for which he has borrowed 1 the 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, aud] that he is allowed only a comparatively smaß re*' bale. 1 It is therefore proposed to form a company which shall combine ill the advantages of a Building l Society, without their drawbacks. But, besides the mere lending of money, the pro-! meters believe that ; a benefit may be conferred on a large section of the community, and at the samd 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. I Laud in Dunedin and the neighborhood invariably brings very much higher pri-*. when cut into small allotments; and , where a . i maker of uniform cott ages are built they can be erected at a cheapen • rate than an individual house ori : the same plan. I By adopting this course a highly remunerative business may be done, by the company. l For exl ample, suppose a piece of gronqd was acquired and Several houses were greeted thereon. The ground being subdivided would not fail to command a higher relative price’, and there would undoubtedly be a saving in tbe cost of the erection of the bouses. Each house, viUi its separate plot of ground, might be sold, at a low estimate of an advance of L 25 pet cent, on the actual cost. And if the houses were sold for deferred payments,! utercst would at Once accrue to the company, not: merely on the actual capital uvested, but also on the abiount 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 otherwtofi.' THE OBJECTS OF THE COMPANY. 1. To make advances by way of mortgage on real estate or leasehold, on such terms os may be agreed on, the borrower jo h#..o power, when desirous, to repay such advances jby iiisialmeuts, including both principal and interest. 2. To enable persons to mate investments by paying per mouth, 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 payment is made, according to tables prepared for the purpose. 3. To purchase, lease, hold, and re-seR (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 e uch term and such rates as may be fixed 1 from time to time. ' . • 6. To make advances on other apnroyad securities (such as Corporation or Road Board Rates). . ! 7. To afford faculties for' the improvement .of land. 8. To do all such other tilings os 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, FORM OF‘APPLICATION. ; To the Directors of the “ Colonial Baßding and Idvestment Company” (Limited, I Gentlemen, — 1 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 1 , at , the sum of .beinga deposit of one shiUing per share on shares, I request you to al ot me that number, and! hereby agree to accept the same or any smaUer number that may be i.Rotted to me, subject to the conditions contained in the said Prospectus, and to pay the instalments thereon in accordance with the Mid Prospectus. 1 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. , , S ? W3 tbe 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 I hem, fell, bind, cord, braid, seam, tuck, ruffle, hemstitch, and gather. 'lbis maebinp 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 AMD AMERICAN SEWING 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 L2 10s and upwards. Also machines guaranteed, and practical instructions given; also, needles arid duplicate parts for all sowing machines in uao. Note the address—• WM. MELVILLR, Practical Machinist. .Goorge street, Dunedin (hear,the