Page 4 Advertisements Column 1

Oamaru Mail, Volume II, Issue 384, 17 July 1877, Page 4

PROSPECTUS PROSPECTUS CF pUTHEIE 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, 10s. per share. After -which it is proposed to call up £2 per share, in sums of 10s. each Call, at intervals i>f not less than three months, thu3 extending the total payments over a period of one year from date of allotmeut. 20,000 shares, fully paid up, are retained by Messrs. Guthrie and Larnach (4000 being allotted for the Goodwill of the Bu-inessand preliminary expenses of Hoating the Company, and the remaining IG',<>oo 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 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. Brodrick, Shipping and Insurance Agent, Dunedin William Moody, Esq., Manager New Zealand Meat-Preserving Company, Kakanui Robert Haworth, Esq., of Messrs. R. and T. Daworth, Merchants, Dunedin A. S. Gibbs, Esq , of Messrs. Gibbs and Clayton, Merchants, Dunedin John Reid, Esq., Merchant, Auckland. Valuators and Auditors : A. W. Morris, Esq ; C. H. Street, Esq.; and Edmund Smith, rsq. Valuators for Vessels : Captain Thomson. Harbor-Master Andrew M'Kinnon. Esq., Shipbuilder, Mayor of Port Chalmers Keith Ramsay, Esq., Shipowner. Soi.iriTOi.-s : Messrs. Sievwright and Stout. Bankers: The Bank of New Zealand and Branches. Brokers: Messrs. Connell and Moodie, Princes-street, Dunedin J. B. Hradshaw, Esq., Princes-street, Dunedin. This Company is projected for the purpose of purchasing and thereafter carrying on Messrs. Guthrie and Larnac-h's well-known "Woodw.->re Factories and their extensive Importing Timber ami Iron Business. An agreement has been entered into with Messrs. Guthrie and l.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 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 purpose of these and all other valuations, the gentlemen respectively named hereafter have been apj)ointed by mutual agreement between Messrs. Guthrie and l.arnach and the Provisional 1 'ireetors.) It has also been arranged that the new Company shall take over the entire debts due to the linn 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 hakper 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 lirm, 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 oiiicers will be able to overtake in the usual course of business, without cost to the Company. By agreement between the Provisional Directors and Messrs. Guthrie and Lurnach, 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); 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 I >irectors, 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 Lamaeh, 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 Com pany enters into possession, and the debts due to the firm 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 Colenies. In connection with this branch of the business, there are several Bush Mills, and a large fleet of coasting vessels, employed regularly in carrying supplies for the requirements of the Factories as well as open markets. The Import, Iron, and HardAvare Business of the firm is also very extensive. These several branches at present represent a most valuable and important pan; of, : the firm's trade, and the promoters feel confident that they can be most safely and profitably extended. In the New Zealand Woodware Factories tiiere are four distinct departments, viz.:— Ist Sawing, Flailing, and Moulding Factory-. 2nd. Door ;.nd Sash Factory. 3rd. Tub and Bucket Factory. 4th. Furniture and Turnery Factory. The trade of each of these is capable of great and profitable extension, and as an evideuce of the great outlet for the products of