Page 4 Advertisements Column 1

Oamaru Mail, Volume II, Issue 380, 12 July 1877, Page 4

PROSPECTUS PROSPECTUS OF E AND LARNACH'S 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, Ids. 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 Larnnch (4000 being allotted for the Goodwill of the Hu-iness and preliminary expenses of i'oating the Company, and the remaining If!, 000 shares being fully paid up by tlicm 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. Provisional Pinrcroß.s. Alexander Hurt, Esq., of Messrs. A. and T. Burt, Dunedin James Robin, Es<p, Carriage Manufacturer, Dunedin Robert Sparrow, Esq., Dunedin Iron Works, Dunedin Basil Sievwright, Esq., Solicitor, Dunedin. G. S. Brodrick, Shipping and Insurance Agent, Dunedin William Moody, Esq., Manager New Zealand Meat-Preserving Company, Ivakanui Robert Hawortli, Esq., of Messrs. P. and T. Hawortli, Merchants, Dunedin A. S. Gibbs, Esq., of Messrs. Gibbs and Clayton, Merchants, Dunedin John Reid, Esq., Merchant, Auckland. Vah"ators and Arnn'ous : A. W. Morris. Esq.; C. 11. Street, Esq.; and Edmund Smith. !• sq. Yalitators FUEL Vessels: Captain Thomson. Harbor-Master Andrew M'Kinnon. Esq., Shipbuilder, Mayor of I'ort Chalmers Keith Ramsay, Esq., Shipowner. Solii itoi.'S : Messrs. Sievwright and Stout. I>ankei,s : The Bank of New Zealand and Branches. Brokers : Messrs. Connell and Moodie, Piinces-street, Dunedin J. B. Bradshaw, Esq., Princes-street, Dunedin. This Company is projected for the purpose of purchasing and there.iiter carrying on Messrs. Guthrie and Larnaeh's well-known Woodwnre Lactones and their extensive Importing Timber and Iron Business. An agreement has been entered into with Messrs. Guthrie and 1 arnach to soil to the Company their new I'aetorie-', together with all their other building-;, with the entire machinery, plant, and stock of every description at the actual not cost : the whole of the freehold and leasehold lands held by the linn at present market value ; and their useful ileet 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 rcspectiveiy named hereafter have been appointed by mutual agreement betwei n Messrs. Guthrie and Larnach and the Provisional ! 'irectors.) It has also been ar ranged that the new Company shall take over the entire debts due to the firm secured and unsecured at par, but shall be entitled to icceive on all unsecured debts interest at tl e ra:o of S per cent, per annum from the day v.'.ien stock is taken up to the date of actual payment, and in addition a commission for collecting of two and a ha 3:per cent., Messrs. Guthrie and Lainach 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 iirm, 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 ofiicers will be able to overtake in the usual course of business, without cost to the Company. By agreement between the Provisional Directors and Messrs. Guthtie and Larnach, it has been arranged that the valuation of the freehold and leasehold lands shall be made by Messrs. A. W. Morris. G. H. Street, and Edmund Smith, accountants ; the valuation of vessels by Captain Thomson (Otago Harbour Master), Keith Ramsay, Esq. (shipowner), and Andrew M'Kinnoii, Esq. (shipowner, Port Chalmers); and that the net cost of building<, plant, machinery, and stock shall be a.-certained from the books and vouchers of the retiring iirni by a Committee of the Provisional 1 'irectors, assisted by competent accountants and experts. Eour thousand of the Company's shares, ■fully paid up, have been agreed t>> be allotted to Messrs. Guthrie and J.arciaeh, as consideration for the Goodwill of their very remunerative business, they undertaking themselves to pay all preliminary expenses—including brokerage. ailverti.-ing, etc., etc. in connection with the iloating ot the Company. Stock will be taken as on the day the Com pauy enters into possession, and the debts due to the linn will be taken over as from the same date.

The timber business is most extensive, and may fairly be said to be the largest in the Australasian Colonics. In connection with this branch of the business, there are several Bush Mills, ami a large lieet of coasting vessels, employed regular]}- in carrying supplies for the requirements of the Factoiics as well as open markets, i The Import, Iron, a;nl Hardware Business of the tirm is also very extensive. These several branches at prcsmt represent a most valuable and impoitant par: of the liim's trade, and tl'.;.- p; v-ituiters leel confident that thev can be most safely and j.rolitably extended. In the New Zealand Wood ware Factories t'lere are lour di.->tin-.t departments. v:z : Ist. Sawing, i'laiiuig, and Moulding Factory. 2nd. JJoor -lid Sash Factory. 3rd. '1 ub and iiucket i aetory. 4th. Furniture and Tr.r;:ery Factory, l'he tra le of each of tke*e is capable of and profitable extension, and as an evi- - of the s;r«at outlet for the products of