Page 1 Advertisements Column 4

Daily Telegraph (Napier), Issue 3149, 1 August 1881, Page 1

Prospectus. PROSPECTUS OF THE mHEATRi. Tj OVAL (Limited), Napier. Tobeinco>porated under the "Joint Stock Companies Act, 1800." Capita. £3500 In 3500 Shares of £1 each ; with nower to incrense. Of these 2500 are now ( ffered to the Public upon which it is Intended to make calls as follows :— 5s Per -hare Deposit payable on Application 5, „ „ on Allotment fis „ „ 3 month? after Allotment 5i „ „ 6 months after Allotment The i-resent Proprietors. Messrs Swan and Ashton, have reserved the right of taking up 1000 fully paid-up Shareß. Provisional Dirfctors— C'npt Russell. M.H.R., Napier i F. Sutton, Ktq , M.H.R., Napier J. H. Vautier, Esq. (Mayor), Napior G, H. Swan, Egg.. Napier Malcolm Irving, Egg , Christchurch J. R. Davis, Esq., Nnpior R. Barrows Efq., Napier Edward A.hton, Esq., Napier Bakksrb— The Union Bank of Australia Solicitors— Messrs Cornford and Dewoa Secretary pro tern— Mr Chas. G. Smyth The Company is projected for the purpose of acquiring the well-known Theatre Royal, Napier, now and for the last three years successfully carried on by Messrs Swan and Ashton, who agree to Bell to the Provisional Directors all the buildings and leasehold land, and it has been arranged that the new Company shall take over all the fixtures, &c,, as part of the bui/f ing. Messrs Swan and Ashton reserve to themselves ihe right to take up shares to the value of £1000. They also guarantee the Shareholders 10 per cent, for tho first 12 months, and in addition undertake to carry on the management of the busi. ness for that period free of charge. The present Proprietors have an unexpired lease of 32 years at a ground rent of £100 per annum and the insurance premiums are the only expenses be. yond fair wear and tear. The Theatre is in excellont order, having lately been thoroughly repaiated and redecorated, and it is acknowledged by all Theatrical Companies to be one of tho best anpointed Theatres in New Zealand. Tho income will be derived by the letting of the Theatre, which is readily taken by Theatrical Companies, at the rate of £20 per woek. The ordinary nightly rentals are from £4 10s to £6 10s. and being always paid in advance, is a protection against any loss by bad debts. Tho advantages of the public wi'l be having the option cf reletting to the various local bodies such as the Theatrical Clubs, Public Meetings, Volunteers, Gymnasium, &c, and for Balls and Skating Rink. The expenses are very small, ai the Store adjoining thei heatre (part of the building) islet to Mr Prebble for £30 per annum, on the agreement that he acts as custodian, thereby saving any expense In keeping the Theatro clean, Applications will be considered in the order in which they are received. The Share List will close on the 31st August. Applications for shares must be made to Messrs Cross and Smyth, Browning-street, Napier. A BRIDGED TpBOSPECTUS OP THB EAST COAST NATIVE LAND AttD SETTLEMENT COMPANY, (Limited.) Capital£6oo,ooo, in 100,000 shares of £5 each; whereof £70,000 will be allotted to the Aboriginal Native contributors of land, called " Original Shares," and 30,000 to European subscribers of Capital, and called " Capitalist Shares." First issue of Capitalist Shares 20,000, payable as follows :—ss on application, 5s on allotment; subsequent calls, if they are required, not to exceed 5s each, nor to be made at intervals of less than three monthß. Provisional DiREoroRS: Hon. W. H.Reynolds, M.L.C., Dunedin John BarTaclough, Esq, Oamaru , Horace Bastings, Esq. M.H.R., Dunedin J. Buchanan, Esq, J.P., Napier • W. Buchanan. Esq, Auckland Joseph Bennett, Esq, Auckland ■ William Coleman, Esq, Auckland J. M. Dargaville, Esq, Auckland 'G. Fenwick, Esq, Dunedin 'C. A. DeLautour, Esq, M.H.R., Gisborne Allan M'Donald, Esq, M.H.R., Gisborne "D. H Mackenzie, Esq, Auckland ' F. J, Moss, Esq, M.H.R., Auckland . Wiremu.Pere, Native Chief, Gisborne - Benare Potae, Native Chief. Tokomaru Bay 3. B. Poynter, Esq, J.P., Gisborne 0. A- Pritchard, Esq, Christchurch D. Proudfoot. Esq, Dunedin G-. M. Reed, Esq, Gisborne &. C. Reid, Esq, M.H.R., Hokitika R. H. J. Reeves, Esq, M.H.R., Nelson H. 0. Robjohns, EBq, Napier Major Ropata, Native Chief, Tokomaru Bay J. M: Shera, Esq, Auckland R Stout, Esq, Dunedin W. H. Tucker, Esq, J. P., Gisborne J. S M. Thompson, Esq, Wellington R. Wilson, Esq, Dunedin ■ Managing Direbtors : J-M-Dais** l ' l6 ' Js«l- \ Auckland J. F. Clarke, Esq. ■ j J. B. Poynter, Esq. 1 a^ome C. A, DeLautour f WSDOlae 3. B. M. Thompson, Esq , Wellington Fere Ropata, East Coast Sci/citors: Wellington - Messrs Siovwright and Stout Gisborne—VV. L. iie^s Bankkiw : The Colonial Bank of New Zealand Brokers and Agents ■ Auckland—Alexander Saunders Dunedin—J. B. Bradshaw Oamaru—Joseph Booth Christchurch--T. B. Craig Wellington—Lidbetter and Cooper Napier—M. R. Milter Hon. Secr-taey ; F. j. Moss, M.H.R., Wellington The following is an epitome of the objects of the Company as detailed in the Prospectus, which may be obtained from the Brokers and at the various Branches of the Colonial Bank :— The object of this Company is the Voluntary Association of the owners of Native Lands with European Capitalists, for the purpose of promoting settlement on the lands on the East Coast of the North Island of New Zealand It is intended to bo attained by the Native owners contributing blocks of land at original or unimproved values, receiving paid-up shares in the Company for the same ; the European Shareholders contributing capital to be called up in fixed and limited amounts as may be found requisite for conducting the operations of the Company. It is intended that the cash capital rais.d shall bo employed in defraying expenses of management, completing titles, effecting surveys and subdivision into farm and township lots, opening means of access, conducting the sale and leasing of lands, promoting the formation of Special Settlement parties from England nnd elsewhere, making advances to settlers on security, and generally in utilising the lands and property vested in the Company to the best advantage. The Company is at presort registered under "The Joint Stock Companies Act," with a nominal capital of £25,000, by the promoters, who, finding it necessary to increase their operations, transfer their interests to the extended proprietary, retaining 1000 paid-up Capitalist and 1000 paid-up Original Shares in the Company. The Government having abandoned the purchase of Natlvo lands, the Native owners in the Poverty Bay and East Coast districts being strongly deslrous of opeiaing their lauds for settlement, in a manner mutually beneficial to themselves and such Europeans as may be desirous of becoming associated with them on the principles proposed in the Prospectus, have, after making provision for. their own requirements, entered into contracts for pass'ngover large areas of valuable land to the Company, at prices based on those of former Government purchases, receiving shares in payment for the same. It is anticipated that the Company will be able to dispose of its lands to great advantage, as under its control, and with its guarantee, title will be aosolutely good, while all lands purchased will be at once placed uuder"the " Land Transfer Act," and will be sold from time to time for cash, or on long deferred payments, and generally in accordance with the regulations guiding the disposal of the waste landß of the Crown. . Tho Capitalist Shares will bo preferential, having secured to them a minimum of eight per cent per annum bb a first charge on the profits, with a further division of profits in proportion to tho capital invested. Five Directors will be elected by tho Capitalist Shareholders, and four by the Original Shareholders, the qualification of a Director being the possession of not less than fifty shares. The Capitalist Shareholders will, under regulations be entitled to purchase lands of the Company for tnoir own bona fide occupation, surrendering their shares in payment, which shall be accepted as value for ten per cent over the amounts paid up. The Native Shareholders will also be entitled, under regulation, to select reserves for their own occupation , surrendering thoir shares in payment. Ten thousand shares will be set apart for sale In Britain to intending bona fide settlers, and an officer of the Company will be located in England, to Bend