Page 4 Advertisements Column 1

Oamaru Mail, Volume II, Issue 391, 30 July 1877, Page 4

PROSPECTUS G PROSPECTUS OF UTHRIE 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 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 <-ompanyi and the remaining 16,000 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 Dirfctors. Alexander Hurt, Esq., of Messrs. A. and T. Burt, Dunedin James Bobin, Esq., Carriage Manufacturer, Dunedin Robert Sparrow, Esq., Dunedin Iron NVorks, : Dunedin Basil Sievwright, Esq., Solicitor, Duneclin. G. S. Brod'ick, Shipping and Insurai.ee Agent, Dunedin _ William Moody, Esq., Manager New Zea- . land Meat-Preseiving Company, kakaRobert Haworth, Esq., of Messrs. R. and T. Haworth, Merchants, Dunedin A. S. Gibbs, Esq., of Messrs. Gibbs and Clayton, Merchants, Dunedin Tohnßeid, Esq., Merchant, Auckland. Valuators and Auditors : W. Morris, Esq.; C. H. Street, Esq.; and Edmund Smith, Ksq. Valuators for Vessels : Japtain Thomson. Harbor-Master indrew M'Kinnon. Esq., Shipbuilder, " Mayor of Port Chalmers Keith Ramsay, Esq., Shipowner. Solicitous : 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 • purchasing and thereafter carrying on Messrs. Guthrie and Larnacli's well-known •Voodwnre Factories and their extensive Importing Timber and Iron Business. An agreement has been entered into with Messrs. Guthrie and 1 aruach to sell to the Company their new Factories, together with all their other buildings, with the entire machinery, plant, and stock of every description glthe actual net cost; the whole of tliefreelold and leasehold lands held by the firm 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 *ontracts. (For the purpose of these and all other valuations, the gentlemen respectively named hereafter have been appointed by mutual agreement between Messrs. Guthrie ind 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 and unsecured at par, but shall be entitled to receive on all unsecured debts interest at tiie rate of S per cent, per annum from the day when stock is taken up to the date of actual payment, and in additi a commission for collecting of two and a h percent., 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 firm, and thus prevents its customers from being subjected to a possible outside pressure, receiving, moreover, a commission tor the collection of debts, which its {1 wll stafl 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. (iuthrie and Larnach, it has been arranged that the valuation or the freehold and leasehold lands shall be made bv Messrs. A. W . Morris, C. H. Street, and Edmund Smith, accountants ; the valuation of vessels by Captain Thomson (Otago Harbour Master), Keith Kainsay, Esq. (shipowner), and Andrew M'Kinnon, Esq. (shipowner, Port Chalmers); and that the ni~t 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 Liructors, 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 floating of the Company. Stock will be taken as on the day the Company enters into possession, and tjie 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 Colemes. 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 Hardware Business of the firm is also very extensive. These several branches at present represent a most valuable and impoitant pare of the firm's trade, and the promoters ieel confident that they can be most safely and profitably extended. In the New Zealand Wood ware Factories there are four distinct departments, viz.: — Ist-. Sawing, Planing, and Moulding Factory. 2nd. Door tnd Sash Factory. 3rd. Tub and Bucket Factory. 4th. Furniture and Turnery Fwstory. The trade of each of these is capable of Seat and profitable extension, and as an evince of the great outlet for the preduets of