Page 4 Advertisements Column 5

Evening Star, Issue 3789, 16 April 1875, Page 4

PROSPECTUS. PROSPECTUS OF* THE COLONIAL BUILDING AND INVESTMENT COMPANY (Limited). To be Registered under “ The Joint Sto«k Companies* Act.” Capital ... £IOO,OOO First Issue, 5,000 Shares of £lO each. One shilling to he paid on application, and five shillings per share per month, until £5 per share is paid up; afterwards, the Directors to have power to call a further sum if required, but 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 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 qs may be paid in advance. Provisional Directors. W. J. M. Larnoch, Esq. T. Niven, Esq. D. Proudfoot, Esq. T. Birch, Esq. W. Conyers, Esq. C. ZieL', Esq. Dr Geo. W. Cole F. Lambert, Esq. C. Flexman,.Esq. t J.P. A. Beck, Esq. D. Ross, T. S. Sibliald, Esq. T. Carroll, Esq. W. W. Woodlands,(Esq. C. B. Shanks, Esq. G. Fenwick, Esq. Alex. Gunn, Esq. P. Lambert, Esq., N.E.V. W. Farley, Esq. With pewer to add to their number. The-2Colokial“Bank of New Zealand, _ , Solicitors. Messrs Bathgate and ; Buchanan, Temple Chambers. Thejadvantagea 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 attendedwith some objectionable features. Amongst these may be noticed—1. The almost total inflexibility of the rules of a society when once established, tmd the • consequent inability to make alterations! that j»ay be required by variations in the' 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 other causes) that it is desirable to : pay off the sum he has borrowed, when perhaps only n third of thd term for which he has borrowed 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, and that ha is allowed only a comparatively small rebate. 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 money, the promoters believe that a benefit may be 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. Laud in Dunedin and the neighoorhood invariably brings very much higher when cut into small allotments, and where a lumber of uniform cotUges are built they can be erected at a cheaper: rate than an individual house 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, fhe 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 bouse, with its separate plot of ground, might be sold, s-fc a low estimate of an advance of L 25 per cent, on the actual cost. And if the houses were sold for deferred payments,! nterost would at once accrue to the company, not merely on the actual capital nvested, but also on tho amount of theprofit, less, of course, the amount pf deposit paid by tbo purchaser, which, howeyer, womd be in the hands of the company, and available for use otherwise. THE OBJECTS OP THE COMPANY. 1. To make advances by way of mortgage on real estate or leasehold, on such terms os maybe agreed on, the borrower to have power, when desirous, to repay such advances hy instalments, including both principal and interest. 2. To enable persons to make Investments by paying per m*nth, 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-sell (either for cash or deferred payments) real-estate. 4. To erect houses ou the lands so bought, and sell the some for cash ou deferred payments. 5. To receive money on deposit, and pay interest thereon for * nch term and such rates os may be fixed from time to time. 6. To make advances on other approved securities (such as Corporation or Road Board Rates). 7. To afford, facilities for 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 them. Applications for shares maybe made to the uni dersigned, LOUIS.BASCH, Interim Secretary, Temple Chambers, Princes street, ■ , Dunedin. FORM OF APPLICATION. To the Directors of the “Colonial Building and Investment Company” (Limited. ’ Gentlemen,— fn accordance with the terms of your Prospectns, I hereby apply for Shares in the Colonial Building and Investment Company,” and having paid to your Secretary, Mr ; 5* -4. > .the sum of .being a deposit of one smiling per share on shares, I request you to ol’ot 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. 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 spws 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, 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 Th© above machines can be purchase by weekly payments. Agent for Otqgo; 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 call at the above establishment, where they will find a collection of Hand and Treadle Machiues 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—i, Dunedin Practical Utii ws m Otagonhl