Page 4 Advertisements Column 1

Oamaru Mail, Volume II, Issue 377, 9 July 1877, Page 4

PROSPECTUS PRCSP2CTUS or ITJTHRIE AND LARNACHS NEW ZEALAND TIMBER AND WOODWARE FACTORIES (LIMITED). Capital, £250,000, In 50,000 shares of £5 each ; Deposit, payable on application, 10s. per share; allotment Call, 10s. per share. After which it i 3 proposed to call up £2 per share, in sums of 10s. each Call, at intervals of not less than three months, thus extending the tofcd payments over a period of one year from date of allotment. 20,000 shares, fully paid up, are retained by Messrs. Guthrie and Larnach (4000 Le:ng allotted for the Goodwill of the Business and preliminary expenses of floating the Company, anil the remaining 1(5,000 shares being fully paid up by them in cash). The rimitining 30,000 shares are offered to the public; 20,000 in New Zealand, and 10,000 reserved for the English and Australian markets, a number of winch have .already been bespoken from each of those places. Provisional Pirfctors. Alexander I'nrt, Esq., of .Messrs. A. and T. Burt, Punedin James Robin, Esq... Carriage Manufacturer, Dunediu Robert Sparrow, Esq., Dunedin Iron Works, Punedin Basil Sievwright, Esq , Solicitor, Punedm. G. S. Brod.ick, Shipping and Insurai.cn Agent, Dunedin William Moody, Esq., Manager New Zealand Meat-Prese. ving Company, Kakanui Robert Haworth, Esq., of Messrs. 11. and T. Haworth, Merchants, Dunedin A. S. Gibbs, Esq., <>f Messrs. Gibbs and Clayton, Merchants, Dtiiudin John Rcid, Es-q., Merchant, Auckland. Valuators an*i> Auditors: A. W. Morris. f.sq : C. IT. >trcet, Esq.; and Edmund Smith. I sq. Valuators for Vessels : Captain Thomson. Harbor-Master Andrew M'Kinnon. Esq., Shipbuilder, Mayor of Port Chalmers Keith Ramsay, Esq , Shipowner. SoLU-rrocs : Messrs. Sievwright and Stout. Rankeks: The Rank of New Zealand and Branches. Brokers: Messrs. Connell and JMoodie, Piinces-street, Dunedin J. B. Hradshaw, Esq., Princes-street, Dunedin. This Company is projected for the purpose of purchasing and there ifier carrying on Messrs. Guthrie and Larnach's well-known Woodw.-ire Eactorie.s and their extensive Importing Timber and Iron Business. An agreement has been entered into with Messrs. Guthrie and I arnach to sell to the Company their new Factories together with all their other buildings, with the entire machinery, plant, and stock of every description at the actual net cost : the whole oi the freehold and leasehold hinds held by the firm at present market value ; and their useful tieet of Coasting Vessels, also at present actual value, the new Company taking over all current agreements and uncompleted orders or contracts. ( For the purpose of these and all other valuations, the gentlemen respectively named hereafter have been apjiointed by mutual agreement between Messrs. Guthrie and Larnach and the Provisional Directors.) It has also been arranged that the new Company shall take fiver the entire debts due to the firm secured and unsecured at par, but shall be entitled to receive on all unsecured debts interest at the rate of S per cent, per annum from the day when stock is taken up to the date of actual payment, and in addition a commission for collecting of two and a ha hper cent., Messrs. Guthrie and Larnach guaranteeing the entire amount of the unsecured debts to the Company. The prudence of this arrangement will at once be apparent when it is remenibeied that the Company thus keeps in its own hands the entire connection of the retiring linn, and thus prevents its customers from being subjected to a possible outside pressure, receiving, moreover, a commission for the collection of debts, vhich its own stall of oliicers will be able to overtake in the u ual course of business, without cost to the Company. By agreement between the Provisional Directors and Messrs. Guthrie and L:irnaci>, it has been arranged that t! c valuation of the freehold and leasehold lands shall be made l»y Messrs. A. W. Morris, C. H. Street, and Edmund Smith, accountants ; the valuation of vessels by Captain Thomson (Utago Harbour Master), Keith Kaßi.-aj', Esq (shipowner), end Andrew M'Kinnon, Esq. (shipowner, Port Chalmers) ; ami that the n> t cost of budding-, plant, maehineiy, and stock shall be ascertained trom the books and vouchers of the retiring tinn by a Committee of the Provisional directors, assisted by competent accountants and experts. tour thousand of the Company's shares, fully paid up, have been agreed to be allotted to Messrs. Guthrie and .Larnach, as consideration for the Goodwill of their very remunerative business, they undertaking themselves to pay all preliminary expenses—including brokerage, advertising, etc., etc.— in I connection with the floating of the Company. Stock will be t;.kcu as on the day the Com pauy enters into possession, and the debts due to the tirm will be taken over as from the same date.

The tinner business is most extensive, and may fairly be said to be the largest in the Australasian C'o'emes. In connection with this branch of the business, the:e are several Bush Mills, and a Luge fleet of coasting vessels, eniplo3 - ed regularly in carrying supplies tor the lequireinents of the Faotoiks as "well as oj en markets. The Import, iron, and Hardware Business of the linn is also very extensive. These several brauches at prej>nt represent a most valuable and important part of the firm's trade, and the promoters leel cuniident that thev can be most safely and profitably ex . tended. In the New Zealand TYoodware Factories t-iert: are lour distinct departments. V:Z : Ist. Sawing, I'laiiiug, and Moulding Factory. 2nd. Uoor . nd Sash Factory. 3rd. 'i ui> and [JuckeG Factory. 4th. Furniture and Tur.iery Factory. Die tra le of each of these is capable of gr«a: aud profitable e\teusion, and as an evii»acs of the craat outlet for the products of