Page 4 Advertisements Column 1

Oamaru Mail, Volume II, Issue 379, 11 July 1877, Page 4

PROSPECTUS PROSPECTUS OF /GUTHRIE AND LARNACH'S KEW ZEALAND TIMBER AND WOODWARE FACTORIES (LIMITED). Capital, £250,000, In 50,000 shares of £5 each ; Deposit, pavable on application, 10s. per share ; allotment Call, 10s. per share. After which it is proposed to call up £2 per share, in sums of 10s. each Call, at intervals of not less than three months, thus extending the total 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 being allotted for the Goodwill of the Business and preliminary expenses of floating the Company, and the remaining lb',ooo shares being fully paid up by them in cash). The remaining 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 which have already been bespoken from each of those places.

Provisioxal Directors. Alexander Hurt, Esq., of Messrs. A. and T. Burt, Dunedin James Robin, Esq., Carriage Manufacturer, Dunedin Robert Sparrow, Esq., Dunedin Iron Works, Dunedin Basil Sievwright, Esq., Solicitor, Dunedin. G. S. Brodriek, Shipping and Insurance Agent, Dunedin William Moody, Esq., Manager New_ Zealand Meat-Preserving Company, Kakanui Robert Haworth, Esq., of Messrs. It. and T. Haworth, Merchants, Dunedin A. S. Gibbs, Esq., of Messrs. Gibbs and Clayton, Merchants, Dunedin John Keid, Esq., Merchant, Auckland. Vaixatoks and Acditoks : A- W. Morris, Esq.; C. H. Street, Esq.; and Edmund Smith, Ksq. Valcatohs foe Vessels : Captain Thomson. Ifarlior-Master Andrew M'Kinnon. Esq., Shipbuilder, Mayor of Port Chalmers £eith Ramsay, Esq., Shipowner. Solicitoi:s : Messrs. Sievwright and Stout. Bankers :

The Bank of New Zealand and Branches. Bkokek-; : Messrs. Connell and Moodie, Princes-street, Dunedin J. B. Bradshaw, Esq., Princes-street, Dunedin. This Company is projected for the purpose of purchasing and thereafter carrying on Messrs. < iuthrie and I.arnach's well-known Woodw.-ire Factories and their extensive Importing Timber and Iron Business. An agreement lias been entered into with Messrs. (iuthrie and I arnach to sell to the Company thtir new Factories together with all their other buddings, with the entire machinery, plant, and stock of every description at the actual net cost ; the whole of the freehold and leasehold lands held by the iirm at present market value : and their useful fleet of Coasting Vessels, also at present actual value, the new Company taking over all current agreements and uncompleted orders or contracts. (For the jmrpose of these and all other valuations, the gentlemen respectively named hereafter have been appointed by mutual agreement between Messrs. Guthrie and Larnach and the Provisional Directors.) It has also been arranged that the new Company shall take over the entire debts due to the tirm secured and unsecured at par, but shall be entitled to receive on all unsecured debts interest at the ra;e of S per cent, per annum from the day ivnen stock is taken up to the date of actual payment, and in addition a commission for collecting of two and a hahper 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 remembered that the Company thus keeps in its own hands the entire connection of the retiring tirm, and thus prevents its customers from being subjected to a possible outside pressure, receiving, moreover, a commission for the collection of debts, which its own staff of officers will be able to overtake in the usual course of business, without cost to the CornBy agreement between the Provisional Directors and Messrs. (iuthrie and Larnach, it has been arranged that the valuation of the freehold and leasehold lands shall be made by Messrs. A. W. Morris, C. H. Street, and Edmund Smith, accountants ; the valuation of vessels by Captain Thomson (Otago Harbour Master), Keith Pamsay, Esq. (shipowner), and Andrew M'Kinnon, Est], (shipowner, Port Chalmer.s); and that the net cost of buildings, plant, machinery, and stock shall be ascertained from the books and vouchers of the. retiring firm by a Committee of the Provisional Directors, assisted by competent accountants and experts. Four 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 connection with the tloating or the Company. Stock will be taken as on the day the Company enters into ]-ossession, and the debts due to the tirm will be taken over as from the same date.

The timber business is most extensive, and may fairly be said to be tiie largest in the Australasian Colonies. In connection with this branch of the business, there are several Bush Mills, and a large lleet of coasting vessels, employed regularly in carrying supplies tor ttie -requirements of the Factoiics r The Import, Iron, and Hardware Business of the firm is also very extensive. These several brauche-s at present represent a most valuable and important pare of the firm's trade, and the promoters feel confident that thev can be most safely and profitably extended. In the New* Zealand Wood ware Factories fiere arc tour distinct departments, viz.:— Ist. Sawing, l'laning, and Moulding Factory. 2nd. Door ..ml Sash Factory. .3rd. 'l u band Bucket Factory. 4th. Furniture and Turnery Factory. The trale of each of these is capable of jrrea" and profitable extension, and as an evidence of the great outlet for the products of