Page 4 Advertisements Column 4

Evening Star, Issue 3788, 15 April 1875, Page 4

PROSPECTUS ( . . OF THE Colonial Building and investment COMPANY (Limited)'! ■ : To bo Eegisteced.xmder VTlie Jotet.Stqck Companies’Act." . /'!. i Capital ... ... . , £IOO,OOO First Ibsuo, 5,000 Sharea-qf£loeach. , y ■ One shilling to bo paid on application, and flve shillings per share per month, until £6 per shdre is paid up; afterwards, the Directors’ to nave power to call a further sum if required, bnt such further sums net to be called up without giving at least ■three months’ notice, and to be payable in amounts of five shillings per shore per month; shareholders to have the right to make prepayments, and to re- ’ ceive interest at the rate of' six per cent, for such 'sumsas may bb paid in’advance. -*>;> Provisional Directors. W. J. M. Larnacb, Esq. T. Niven, Esq. D. Prondfoot, Esq, " ~ ;T. Birch, Esq. " ‘W. Conyers, Esq. C. Zieli, Esq. ■Dr Geo. W. Cole ;P. Lambert, Esq. IC. Flexman, Esq., J.P A, Beck, Esq. D. Ross, Esq. T. S. SibbaM; Esq. : ' T. Carroll, Esq. ■ W. W. Woodlands,? Esq. C. B. Shanks, Esqi G. Fenwick, Esq. Alex. Gunn. Esq. F. Lambert, Esq., N.E.V; , W. Farley, Esq. With power to add to their number. i "Bankers. j of New Zealand. ■ " Solicitors..;,,- ... .Messrs Bathgate and Buchanan, Temple . . Chambers. i TheJadvantages of Building' Societies are so well ; knowp that any cOtoineUf upon them is unnecessary; . bnt manydoorrowers from these societies have found to their cost that these advantages oxe attended with some objectionable, features. Amongst these may be -noticed—1. The almost total .inflexibility ofthe mles of •a..society when.once established, and the consequent . inability .to, make, alterations that .may be required; by variations in' the rate;6f interest. J J : 2. The expense attending the ; pniying Off of a sum borrowed before term for which it has-been borrowed baa expired. It frequently happens that a borrower from a Building Society finds (either from selling his property or from other causes) that it is desirable to pay off the suxri he has borrowed', when perhaps only a third of thd term for which he-haS l>orrowed the money has expired. Imsuoh circumstances the unfortunate borrower is disappointed to-flsd that hehastp pay interest to she end of the term, aad that he is allowed only a comparatively smdll rebate. . 0 ' ■ : 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 monmr,; 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' : bf sections: in. suitable localities, and the' erection liheroon of houses.and cottages,; ■.•■.. , i;.; ..V . .*. . Land in Dunedin and the neighborhood invariably brings very much higher prM when cut into small allotments, and Where a ndimbeV of uniform cottages are built they can be erected at a cheaper rate than an individual heuse on the same plane. By adopting this course a highly remunerative business may be done, by the company,.. For example, suppose a piece of ground was . acquired aiid several houses were erected t'hereoih/' IJ Tfae ground being ‘subdivided would not, fail to command a be a saying in tfie ppfjt of tbe erection of;the houses. Bach house, with itp sqpaxsierplotiqf ground, might be sold, at a low estimate' : pf advance of L 25 por cent, ou the actual cost.-’--And u-N^j| t 6nm''tkMp sold for deferred payments,‘lnterest woida at qnce accrue to the company, hot ‘merely on the actual capital nvested, hut also on the amount of the profit, less, of course, the amount, ef. depoeitpaid by the purchaser, which, however, would, be in t)ip hanqs.pf 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 likve power, when desirous, to repay sqch advances by instalments, including both principal and; interest. : - . 2,. To enable persons to make investments by paying per m?nth, which would entitle them to receive L 59, or, puiltiplea thereof, at the end of ...... ; .yeiteS. • The blanks 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' tame for cash on deferred-payments. .• 5; ; To receive mouey ou deposit,and pay Interest thereon for fuoh term and such rates as may he fixed from time to time. .. 6, T.o make advances on other approved securities (such as Gorpbmtjqn or Road Board’ Rates). '7. To afford facilities fpr the improvement ’of land. : •■; • ■ ■ . 8. To do all such other tilings as are conducive or incidental to the attainment ot the above objects, or any of theiji. , , . t Applications for shares maybe made to the undersigned. " LOUIS BASCH> : Interim Secretary, , , . . Terqple Chambers, , • > , Prinpes street,!; v . ;,'•■ ~ • . PpUCdM.' FORM OE, APPLICATION. : , To the Directors of the '‘ Colonial Building and In. vestment, Company” (Limited. Gentlemen,— fn accordance with the terms of your Prospeqtus, I hereby, apply for •'■•“" Shares in tne Colonial Burning and Investment Company," and having paid to your Secretary,-Mr . , .the sum of .being a deposit of one shilling per share otx shares, I request you to alot mo that number, and! hereby agree to accept the same or any smaller Humher that maybe allotted to me, subject to the conmtiqns contOmed in the said Prospectus, and to pay the instalments' thereon in accordance with the said Prospectub. ■: •, v ■ • lam, - : ■. _ ''! . V .. . . ■ Signature.... Name (in fud1).....,;,.. Address. Description, or 0ccupati0n........... > Pate ; ...V....... SEWING MACHINES. American sewing machines. THE “HOMR, ” SHUTTLE LOCKSITITCH, - The Perfection of Mechanism, Simple, compact, efficient, durable; and co’ plete. IT ®cws with the least possible amount labor, and a girl of twelve years old a run it without fatigue, With this machine is furnished—Hemme braider, shuttle, bobbins, oil-can, oil, sore 1 driver, five needles, gauge, table-clamp, ai directions for usd; all securely packed in stroi case, with hinges. THIS UNEQUALLED-MACHINE uses a straight needle, makes the “ look-stitcl (alike on both sides), has a self-adjusting te sion, and is adapted to every variety of sewii for family wear, from the lightest muslins the heaviest cloths, and WILL EVEN StaW LEATHER. , m ’ ? e hind, cord, braid, seam, tuci hemstitch, and gather. This machii will sew on and gather at the same time, ar will work equally well on silk, linen, woolle: and cotton goods, with silk, linen, or cotk thread. _ . Prices : £ s. i To run by hand... ... ... ; 410 Do. with table and treddle ... 6 15 - ' Half-cabinet do. ... ... 8 0 The above machines can be purchase by week] payments. Agent for Otago: S. JACOBS, Fancy Goods Importer. Princes street, Dunedin. ENGLISH AM) AMEIUOAN Sj machine DEPOT. ANYONE about to Purchase a Machine would do well to ca above establishment, whei'e tbey wi collection of Hand and Treadle Machi the best makers, ranging in prices froi and upwards. Also machines guaranteed, and pra< struotions given j also, needles and' t parts for all sewing machines in use. ' Npte the address— WM. MELVILLE, Pr#o&9Al Machinist, George street, I Qgfyfouj.