Page 4 Advertisements Column 5

Evening Star, Issue 3793, 21 April 1875, Page 4

PROSPECTUS. PROSPECTUS OF THE COLONIAL 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, 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 mouths’ notice, and to be payable iu amounts of five shillings per share per month j 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. Larnach, Esq. T. Niven, Esq D. Proudfoot, Esq. T. Birch, Esq. W. Conyers, Esq. C. Ziel sEaq. Dr Geo. W. Cole F. Lambert, Esq. C. Flexman, Esq., J.P. A. Beck, Esq. D. Ross, Esq. T. S. Siblmld, Esq. T. Carroll, Esq. W. W. "Woodlands,(Esq. C. B. Shanks, Esq. G. Fenwick, Esq. Alex. Gunn, Esq. F. Lambert, Esq., N.E.Y, W, Farley, Esq. With pewer to add to their number. 'Bankers. of New Zealand. Solicitors. Messrs Bathgate and Buchanan, Temple Chambers. The’ r advantages 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 once established, and the consequent inability to make alterations! that may be required by valuations in the ■ rate of interest. 2. The expense attending the paving 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 payoff 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 i he has to pay interest to the end of the term, avd; that he is allowed only a comparatively small rebate. ‘ It is therefore proposed to form a company which" shall combine all the ad van ages of a. Building. Society, without their drawbacks. But, besides the mere lending of money, the pro- : motors 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 the shareholders, by the purchase of sections in suitable localities, and the erection thereon of houses and cottages. Land in Dunedin and the noighnorhood invariably brings very much higher pr -, when cut into '■nail allotments, and where a „mbcr of uniform cotl ages are built they can be erected at a cheaper rate than an individual heuse 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 wore 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 houses. Each house, with its separate plot of ground, might be sold, at a low estimate of an advauce of L 25 per cent, on the actual cost. And if the houses were sold for deferred payments,i nterest would at onee 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 he 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 ns may bo 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 mi*uth, 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 pa'v ment is made, according to tables prepared for tht purpose. 3. To purchase, lease, hold, and re-sell (either for cosh 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 f uch 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 things as 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 Building and In vestment Company” (Limited. Gentlemen, — in accordance with the terms of your Pros pectus, I hereby apply for Shares ii the Colonial Building and Investment Company,’ and having paid to your Secretary, Mr 5* -x c .the sum of , being £ deposit of one shilling per share on shares, I request you to nl ot me that number, and! hereby agree to accept the same or any smaller uum ber that may be allotted to me, subject to the con ditions contained in the said Prospectus, and to pai the instalments thereon in accordance with the saic Prospectus. I am, Gentlemen, Signature Name (in full) | Address d"""!""". Description, or occupation Date 187" SEWING MACHINES. AMERICAN SEWING MACHINES. THE “HOMR,” S UTTLE LOCKSTITCH, The Perfection of Mechanism. Simple, compact, efficient, durable, and complete. [T sews with the least possible amount of labor, and a girl of twelve years old can un it without fatigue, With this machine is furnished— Hemmer. ■raider, shuttle, bobbins, oil-can, oil, screwIriver, five needles, gauge, table-clamp, ami 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, ami will work equally well on silk, linen, woollen and cotton goods, with silk, linen, or cotton thread. Prices : To run by hand... Ho. 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 AMERICAN DEWING MAOHINi. DEPOT. ANYONE about to Purchase a Sewing Machine would do well to call at the anove establishment, where they will find a collection of Hand and Treadle Machines from the best makers, ranging In juices fr&m L2 l(Ts and upwards. Also machines guaranteed, and practical InBtructions given * also, needles and Qublfcate parts for all sewing machines in use* Note the address—- _ .... WM. MELVILLE.