Page 4 Advertisements Column 1

Oamaru Mail, Volume II, Issue 382, 14 July 1877, Page 4

PROSPECTUS PROSPECTUS OF AND LAKNACH'S NEW ZEALAND TIMBER AND WOODWAKE FACTORIES (LIMITED). Capital, £250,000, In 50,000 shares of £5 each ; Deposit, payable on application, 103. per share ; allotment Call, His. per share. After -which it is proposed to call up £2 per Bhare, in sums of 10s. each Call, at intervals of not less than three months, tluis extending the to til payments over a period of one year from date-of allotment. 20,000 shares, fully |jaid up, are retained by Messrs. Guthrie and Larnach (4000 beingallotted for the I Goodwill of the Business and preliminary expenses of floating the Company, and the remaining 10",000 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. Provisional "Dirfctoes. Alexander I'urt, Esq., of Messrs. A. and T. Burt, Dunedin James Robin, Esq., Carriage Manufacturer, Dunedin Robert Sparrow, Esq., Dunedin IronWorks, Dunedin Basil Sievwright, Esq., Solicitor, Dunedin. G. S. Brod'iek, Shipping aud liisurai.ee Agent, Dunulin William Moody, Esq., Manager New Zealand Meat-Preserving Company, Kakanui Robert Haworth, Esq., of Messrs. 11. and T. Haworth, Merchants, Dunedin A. S. Gibbs, Esq , of Messrs. Gibbs and Clayton, Merchants, Dunedin John Reid, Esq., Merchant, Auckland. Valuators ani> Auditors : A. W. Morris. Esq : C. IT. >triet, Esq.; aud Edmund Smith, F sq.. Valuators For: Vessels : Captain Thomson. Harbor-Master Andrew M'Kinnon. Esq., Shipbuilder, Mayor of Port Chalmers Keith Ramsay, Es-q , Shipowner. Solicitors : Messrs. Sievwright and Stout. Bankers: The Bank of New Zealand and Branches. Brokers ; 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. Guthrie aiul Larnacli's well-known Woodwnre Factories aud their extensive Importing Timber and Iron Business. An agreement has been entered into with Messrs. Guthrie and l arnach to sell to the Company their new Faetorie-", together with all their other buildings, 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 tirm at present market value ; and their useful fleet of Coasting Vessels, also afc present actual value, the new Company taking over all current agreements and uncompleted orders or contracts. (For the purpose of these a; d a'.l other valuations, the gentlemen respecti\eiy 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 firm secured aud unsecured at par, but shall be entitled to jeceive on all unsecured debts interest at tl.c ra';? of S percent, jter annum from the day w.ieu stock is taken up to the date of actual payment, and in addition a commission for collecting of two aud a hakper 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 firm, and thus prevents its customers from being subjected to a possible outside pressure, receiving, moreover, a commission lor the collection of debts, v Inch its own staff of officers will be able to overtake in the usual course of business, without cost to the Company. By agreement between the Provisional Directors and Messrs. (>uthrieand 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 Ramsay, Esq. (shipowner), and Andrew M'Kinnon, Esq. (shipowner, Port Chalmers); aud that the m t cost of bu riding-:, plant, machinery, and stock shall be ascertained from the books and vouchers of the retiring iirm by a Committee of the Provisional 1 >irectors, assisted by competent accountants aud experts. tour thousand of the Company's shares, fully paid up, have been agreed to be allotted to Messrs. Guthrie ami 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 floating of the Company. Stock will be taken as on the day the Company enters into possession, ami 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 the largest in the Australasian Colemes. In connection with this branch of the busiuess, theie are several Bush Mills, and a large licet of coasting vessels, employed regularly in carrying supplies for the requirements of the Factories as well as open markets. The Import, Iron, and Hardware Business of the tirm is also very extensive. These several branches at present represent a most valuable and important part of the firm's trade, and the promoters feel confident that they can be most safely and profitably extended. , In the New Zealaud Woodware Factories there are tour distinct departments, viz : Ist-. Sawing, Planing, aud Moulding Factory. 2nd. Door ;,nd Sash Factor}'. 3rd. 'iub and Bucket Factory. 4th. Furniture and Turuery Factory. The trade of each of these is capable of great and.profitable extension, and as an eviSeace of the great outlet for the products of