Bank of New Zealand.

Temuka Leader, Issue 269, 1 July 1880, Page 3

Bank of New Zealand.

Bankers.

Brokers : Messrs Maclean and Stewart, Timaru. This Company is projected with a view of acquiring by purchase, and thereafter carrying on the Business of the Promoter (James Bruce) in the manufacturing of Flour, Oatmeal and Pearl Barley. Also, for the purpose of importing from his forest in the North Island, Timber of the best description, and preparing the same fur market in every available form. Included in the above will be the well-known brigantine N ightingale, and about 1600 acres of Freehold Kauri Bush Land in the North Island, For the acquirement of which business and property, the Directors have entered into an agreement with Mr Bruce, that the same be taken over by the Company at the amount as fixed by the Valuers appointed.

Stock will be taken on whatever date the Company take possession, and debts due will be transferred on the same date Mr Bruce guaranteeing the same all good 'o the Company

The Flour, Oatmeal, and Pearl Barley Mills will compare favorably with any works of the kind in the Australian Colonies (vide report of Valuators attached). The machinery is capable of preparing for the market about 20 tons Flour per day, with 4 tons of Oatmeal and 1 ton of Pearl Barley ; and that in the Sawmills (including Planing and Moulding) is equal to an out-put of 10,000 superfiicial feel of marketable Timber per day. The Timber Business is already extensive, and increasing. The Freehold Bush Land, in the District of Auckland, belonging to the Promoter, is roughly estimated as yielding at from ten o tifleon v< ars’ supply of first-class Kauri <nd Bed Pine Timber. Vessels of 400 tons burden can load with perfect safety all (he year round, in close proximity lo the Bush, and have quick despatch. The important advantages in favor of shareholders in this Company ar ■ ap parent and manifold. They enter directly with a knowledge of the full cost and liability, into a large undertaking, in full operation, upon a fixed date, witii a complete and first-class plant in each department, a staff of experienced workmen, and an established good going business connection. There is no waiting for the erection of buildings and machinery, or the preparation of plant in the present instance ; neither are the financial interest of shareholders subject to the uncertainties, risks, and delays incidental to the establishment of a new and vntried business. In all these respects everything is complete and in full working order—the returns beiug with the date of entry. The following specialities in connection with the Industries may be mentioned, vz. : That the Flour Mill department at once supplies a much-felt want in the district amongst all classes of the community To the farmer it is a boon, as it provides a good ready local market for farm produce ; to bakers and others, in providing a flour of acknowledged superior qua ily Ample testimony can be had as to the genuine quality of the products, wherever these have been introduced throughout the Colonies. Timaru being the centre for South Canterbury, the largest grain producing district in New Zealand, and a Port for shipping, with the harbor-improve-ments now being carried out, it is In the best position possible fur offering its bread stuffs to the markets of the world, which show that there is ample scope for sucli a magnificent concern as the Flour Mills are.

The central position of the Mills, and their immediate proximity to Grey street, the Groat North Road, and to the Main Line of Railway, with which latter they are directly connected by extensive sidings on two sides, gve special advantages for economically working the concern, enabling customers in and out of town to obtain their goods with dispatch and without any .extra handling or cartage. The Business that the Promoter now offers has been worked by him up to its present dimensions and position during the last fourteen years with much success but in order to keep pace with the grow ing requirements of the colony, he finds a large capital is required to more fu y develope the trade he has established in Timaru

Mr Bruce will identify himself with the Management, and retain one-fourth of the capital of the Company, thus showing his faith in the concern in the most practicable manner possible.

The situations of the Mills, 1 lie premises machinery, plant, and whole appliances are of a character that naturally and speedily opens up a widely-extended and extremely prolific trade, and the products being of everyday requirement, call forth the employment of additional capital as the business developes, and for which the Promoter guarantees to each Shareholder ien per cent per annum as the on the profits of the Company for two years.

The Promoter now offers to investors an oppoitunity to develope a local and colonial industry, and to participate in handsome profits as a return for the capital invested.

The Company will be governed by a Board of Directors chosen by the Shareholders. Particulars as to amount of valuation made, &c., is herewith attached, which is accepted by the Promoter and the Provi sional Directors. Copies may be had by investors at the Office of the Brokers.

The Share List will close on Tuesday 2nd August, 1880. In making the Allotment the Provisional Directors will consider the order in which applications have been mj.de.

Forms of application for Shares may|be obtained at the offices of the Promoter (Mr James Bruce), and at Maclean and Stewort’s, Timaru ; also, at the offices of John Reid, Esq., Merchant, Auckland; Messrs Pliramer, Reeves and Co, Welling ton ; W. H. Hargreaves, Esq, Meflhant Christchurch ; Messrs Fleming and HedJey, Stock Agents, Oamaru; John A McKenzie, Esq, Sharebroker, Dunedin and G F Martin, Esq, Stock Agent, Invercargill.