Page 4 Advertisements Column 2

Oamaru Mail, Volume II, Issue 389, 25 July 1877, Page 4

PROSPECTUS these works, Messrs. Guthrie and Laruach have been compelled to run the machinery oveiiime, on an average of two nights per ■week, since the opening cf the ne .v Factories. The whole of the extemive Factories and Scores (specially designed hy David Ho.--.--, ]•><■!., architect, "of this city) are substantially built of brick and cement, on solid blnestone and concrete foundations (all timbei-s being of the best and most durable descriptions*, covering an area, including the timbe ■ of several acres of valuable land in the chief streets of the city. The whole of the splendid modern machinery was design :d and planned by an eminent engineering firm in Glasgow, under Mr. Guthrie's immediate supervision while in Britain, and after a very careful inspection of the principal woodware factories in America. Britain, and on the Continent. Each machine has been firmly placed on a solid bed of concrete, where necessary, to prevent the possibility of vibration, and to avoid wear and tear. The contract for the purchase of machinery was entered into when materials and labour in Scotland were at their lowest. The important advantages to shareholders in a Joint Stock Company of entering into possession of a large manufacturing and importing business in full operation on a fixed date, with a thoroughly trained stair of oiiieers and men and a large mercantile connection without having to wait for the erection of buildings, importation of plant, stock, etc., or being subjected to any of the rl ks ami delays incidental to the starting of a new business" and with all preliminary expenses paid, should be at once apparent to investors. The following special advantages are worthy of notice : Ist.'The whole of the machinery in the Factories is driven by one pair of powerful engines, worked by two men—an engineer and fireman—whose wages may fairly be said to constitute the whole expense in connection with the motive power, as the only find required to keep up steam is the sawdust and shavings drawn from the dill'erent factories as soon as made, by means of pneumatic tube-, and deposited in a large brick safe, ready for consumption alongside the boilers. By this means all rubbish is utilised and made a source of profit, and the cost of labour reduced to a minimum. •_ ! nd. The four Factories being worked under one roof, a great saving is consequently eiiccted, not only in the motive j„)v,\t, but also in the management, as the wh'd-j can be superintended and controlled by one manager. *"nl. 'i he 'Tub and Bucket factory, now in full operation, has a monopoly of tiie supply of these indispensable articles, there bring no oilier tub and bucket factory in the -Australasian Colonies. A large return may the-re fore bo looked for to the credit of this branch of the business. 4th. 'ilie whole of the Factories, especially the Furniture Factory, being worked in connect u>n with the general timber business, is cairicd on most pruihably, not only from the fact lit the first cost of the timber being procured at the cheapest possible rate, bat also that large quantifies of short cuttings of iir.il■"•?■. which would o l horwi<o either bo .-old as job Jots at a low price, or sent to the furnace to be consumed as fuel, are utilised. 'i'.e Union Sash and Di.or Company in Aii'-kiand is of a similar character to tiie New Zealand Woodware Factories, only being much hss extensive, it i-, however, a _fair eii.-erion to ba-e calculations upon, as to v. li:it may be expected from the Xew Zealand Woodware Factories. The Company referred to has only been in active operation for a little over four years, and lias paid annual dividends or" '2O per cent., besides carrying large amounts to reserve fund ; so li>a''". in addition to the vary handsome Yearly dividends, the original i.o shares of the Company are now quoted at i.7 I<K, and a new '.--no allot:ed to shareholders, on which - 10s. has been paid up solely out of reserv-. . .uid, are quoted at !.o Ids., making the present total market value of the original shares Lll, or a premium of J2O per cent. In connection with this, it is a fact that the profits shown to have been made in Messrs. Guthrie and Larnach's business for the same period considerably exceed that made by the Union Company in proportion to the capiral invested ; so that the promoters have good reasons for believing that rotonly will large dividends be paid regularly by the Company, but that its stock wilt at once become a much-sought after and favorable investment Mr. Guthrie has consented to bo fully ideiitiiied with the business for a number of year-; as Managing Director. Mr. Guthrie's practical skill and long <.xj>eiieiiee in the trade- are well known ; the high position to which the Jinn has attained under his management indicates the measure of prosperity which may reasonably bo expected in the future ; and as a proof of Mr. Guthrie's and his partner's faith in the future prospects of the concern, they are willing to hold one-fifth eacii, or equal to two-lifihs of the entire capital on their own private account, purchased in fully paid-up shares. And as a further proof of their confidence in tiie future prospects of tiie Company, they have decided to guarantee that ilie Company's net profits for the ii:v.t three years shall not be less than ten per cent, per annum on tiie actual capital for the time biing employed in the business, or equal to a sum of about L. r r,00!) to be paid to the shareholders within three years. They expect and believe that the profits will considerably exceed this rate, but investors wiii '•■■'. this means know the rate of their minimum pioiits. By way of further seeming the observance of the guarantee, the lirm have agreed to deposit wi;h the Directors of the Company scrio of the Company during the fust year of the value of LC-O.OliO, during the second year of J.-iO.'JOO, and during the third year of L"_\> GUI. ami to execute a legal charge upon the same in favor of the Company. Intending shareholders may therefore rest assured that no more legitimate or remunerative outlet for capital, or one presenting ' better or more extensive future prospects. has ever been tittered in New Zealand. The reasons which In-ve induced Messrs. Guthrie and Larnacli to take this step are—--Ist. That their term of partnership expires by effluxion of time in the course of a few mouths, when it is the intention of one of the partners to retire from active busi-