Page 4 Advertisements Column 5

Evening Star, Issue 3792, 20 April 1875, Page 4

PROSPECTUS. PROSPECTUS OP THE COLONIAL BUILDING AND INVESTMENT COMPANY (Limited). To be Registered under “ The Joint StockCompanies* Act.” Cap mx ... £IOO,OOO First Issue, 5,000 Shares of £lO each. One shilling to he paid on application, and five stuffings 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 no^ce i an d to be payable in amounts of five shillings pet 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 advance. Provisional Directors, w. J. M. Lnmach, Esq. T. Niven, Esq. Tl DwanHsaal. TV Tv _ . * D. Proudfoot, Esq, T. Birch, Esq. W. Conyers, Esq. C. Ziel i, Esq. Dr Geo. W. Colo F. Lambert, Esq. C. Flexman, Esq., J.P, A. Beck, Esq. D. Boss, Esq. T. S. Sibbald, Esq. T. Carroll, Esq. W. W. Woodlands,tEsq. C. B. Shanks, Esq. G. Fenwick, Esq. Alex. Gunn, Esq. F. Lambert, Esq., N.B.V. W. Farley, Esq, With power to add to their number. 'Bankers, op 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 the rules of a society when one® established, and the consequent inability to make alterations that/ffay 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. _ .frequently happens that a borrower from a Building Society finds (either from selling his property or from ether causes) that it is desirable topayoff the sum ho has borrowed, when perhaps only n third of th& term for which he has borrowed the money has expired. In such circumstances the ■ 1 unfortunate borrower is disappointed to find that ho has to pay interest to the end of the term, andthat he is allowed only a comparatively small rebate. :| It is therefore proposed to form a company which i shall combine nil the advantages of a Building! Society, without their drawbacks. “ T 6 | 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 maybe obtained for theshareholders, by the-purchase of sections in suitable! localities, and the erection thereon of houses and cottages. _ in Dunedin and the neighborhood invariably brings verv much higher when cut fatesmall allotments, and where a lumber of uniform cottages are built they con be erected at a cheaper! rate than an individual h«use bn the same plan; By adopting this course a highly remunerative business may he 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 ha a saving in the cost of the erection of the houses; EOch house, with its separate plot of ground, might: he sold, at a low estimate of on advance of li2s : pcr cent, 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 invested,.but also on the amount of the profit, less, of course, the amount ef deposit paid by the purchaser, which, however, would be jn the hands of the company, and available for use others wise. THE OBJECTS OP THE,COMPANY. ' 1. To make advances by way of mortgage on real estate or leasehold, on sueh'tehhs as maybe agteed on, the borrower to have power, when desirous, to repay such advances by instalments, including both pnucipal and interest. 2. To enable persona to make investments by paying ; per month, which would entitle' them to receive LSO, or multiples thereof,:at« the of years. The blanks to,he filed up m each case at the time the first monthly pay. ment 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. r4. 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 tuch 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 Rates). 7. To afford facilities for the improvement of land. . ) 8. To do all such other .tilings as ore conducive or incidental to the attainment of the above objects, or any of them. Applications for shares'may he mode to the undersigned. LOUIS BASCH, Interim Secretary, Temple Chambers, - Princes street, Dunedin. FORM OF APPLICATION To the Directors of the “ Colonial Building uu vestment Company" (Limited. Gentlemen, — [n accordance with the terms of year ] pectus, I hereby apply for Shan *he Colonial Building and Investment Comps and having paid to your Secretary, Mr at , the sum of be deposit of one shilling per share on shares, I request you to nl’ot me that number, i hereby agree to accept the same or any mmtfo 5 her that may he allotted to me, subject to the mtions contained in the said Prospectus, and tc The instalments thereon in accordance with the Prospectus. r 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 sews with the least possible amount labor, and a girl of twelve years old c run it; without fatigue, With this machine is furnished— Hemnu braider, shuttle, bobbins, oil-can, oil, sere driver, five needles, gauge, table-clamp, ai directions for use; all securely packed in stro 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 ) iera > 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. Pbices : To run by hand... Do. with table and treddle Half-cabinet do. The above machines can be pure! payments. £ s. d. 4 10 0 6 15 0 8 0 0 by weekly Agent for Otago ; S. JACOBS, Fancy Goods Importer, Princes street, Dunedin. ENGLISH AND AMERICAN M ACHIN K DEPOT, SEWING 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 and duplicate parts for all sewing machines in use. * Note the address—- . WM. MELVILLE, Practical Machinist, George street. Dt Ocfe&bp),|