Page 4 Advertisements Column 5

Evening Star, Issue 3791, 19 April 1875, Page 4

PROSPECTUS. PROSPECTUS OF the • r COLONIAL BUILDING AND INVESTMENT COMPANY (Limited). To be Registered under “ The Joint Stock Companies’ Act.'* Capitali ... ... ... ni £IOO 000 First Issue, 5,000 Shares of £lO each. ’ One shilling to be 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 not to be called up without giving at least three months’ notice, and to be payable in amounts of five shillings per share per mouth; shareholders to have the right to make prepayments, and to receive interest at the rate of six per cent, for such sums os may be paid in advance. Provisional Directors, W. J. M. Lamach, Esq. T. Niven, Esq. D. Proudfoot, Esq. T. Birch, Esq. W. Conyers, Esq, C. Ziel>,Eaq. Dr Geb. W. Cole P. Lambert, Esq. C. Plexman, Esq., J.P. A. Beck, Esq. D. Eoss, Esq. T. S. Sibbald, Esq. T. Carroll, Esq. W. W. Woodlands,fEsq. G. B. Shanks, Esq. G. Fenwick, Esq. Alex. Gunn, Esq. P. Lambert, Esq,, N.E.V, W. Parley, Esq. With power to add to their number. ‘Bankers. op New Zealand, Solicitors. . Messrs Bathgate and Buchanan, Temple Chambers. TheTTadvantages of Building Societies are so well ! known that any comment upon them is unnecessary • but many borrowers from these societies have found • cost tlifit 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 onca 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 for which it has been borrowed has expired. It frequently happens that a borrower from a Building Society finds (cither from selling his property or from other causes) that it. is desirable to pay off the sum he has borrowed, when perhaps only a third of the 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 he is allowed only a comparatively small rebate. 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 inay 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. ' ‘ J . Land in Dunedin and the nelghnorhood invariably brings very much higher pri. *-■ whep out intp small allotments, and where a t ember of uniform cottages 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. - The 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 housesEach House; with its separate plot of ground, might be sold, at a low estimate of an advance of L2sper cent, on the actual cost. And if the houses were sold for deferred payments,i ntercst 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 in the hands of the company, and available for use other•wise. - THE OBJECTS OP THE COMPANY. 1. To make advances by way of mortgage on real estate or leasehold, on such terms as may be agreed on, the borrower to have power, when desirous, to repay such advances by instalments, including both principal and interest. 2. To enable persons to make investments by paying,...,. ■. per m®uth, which would entitle them to receive LSO, or multiples thereof, at the end 0f......... 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-soll (either for cash or deferred payments) real estate. . 4. To erect houses on the lands so bought, and sell the same for cosh on deferred payments'.' 5. To receive money bn deposit, and pay interest thereon for such term and such rates os may he fixed from time to time. 6. To make advances on other approved securities (such as Corporation or Road 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 o£ 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 ] vestment Company” (Limited. ■ .- Gentlemen, — tn accordance with the terms of your Pr pectus, I hereby apply for Shares tne Colonial Building and Investment Componand having paid to your Secretary, Mr ‘ at , the sum of bein deposit of one shilling per share on shares, I request you to al ot me that number, an hereby agree to accept tbo same or any smaller uu her that may be i.llptted to me, subject to the cc cationsi contained in the said Prospectus, and to r the instalments thereon in accordance with the si Prospectus. I am, Gentlemen, Signature Name (iu full) ” Address Description, or occupation. . ~ Date "is?" 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 amoi labor, and a girl of twelve years ol rim it without fatigue, With this machine is furnished—Hei braider, shuttle, bobbins, oil-can, oil, i driver, five needles, gauge, table-clamp directions for use ; all securely packed in i case, with hinges. THIS UNEQUALLED MACHINE uses a straight needle, makes the “lock-stitch” (alike on both sides), has a self-adjusting 1 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, mine, 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 rnnao ri 1 Prices : To ran by Hand... Do. with table and treddle Half-cabinet do. The above machines can be purchase payments. £ s. d. 4 10 0 6 15 0 8 0 0 by weekly Agent for Otago; S. JACOBS, Fancy Goods Importer, Princes street, Dnnedin. ENGLISH AND AMERICAN SEWING MACHINE DEPOT. i ANYONE about to Purchase a Sewing Machine would do well to call at the atiove 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 in-, structious given ; also, needles and duplicate parts for all sewing machines in use. Note the address—- _ .. WM. MELVILLE* Pfabtidal MachMk't' Geoisj street, Duhhdin (ne&.tjie | ;