Page 1 Advertisements Column 4

Daily Telegraph (Napier), Issue 3153, 5 August 1881, Page 1

Prospectus". PROSPECTUS OT , THE nnHEATEE T> OVAL (Limited), Napieb. Toboincoporated under the "Joint Stock Companies Act, 1800." Capital £8500 In 8500 Shares of £1 each; with power to increase. Of these 2500 are now offered to the Public upon which it is intended to make calls as follows :— 53 Per Share Deposit payable on Application 63 „ „ on Allotment 6s „ ~3 months after Allotment 6s „ „ 6 months after Allotment The present Proprietors. Messrs Swan and Ashton, have reserved the right of taking up 1000 fully paid-up Shaves. Provisional Directors— Capt. Russell. M.H.R., Napier i F. Sutton, Esq , M.H.R., Napier J. H. Vautier, Esq. (Mayor), Napior G, H. Swan, Esq.. Napier Malcolm Irving, Esq , Christchurch J; K. Davis, Esq., Nnpier ! R. Barrows. Esq., Napiei , Edward Aahton, Esq., Napier Bankkrs— The Union Bank of Australia Solicitors— Messrs Cornford and Dewea Seoretart 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 laet three years successfully carried on by Mesers Swan and Ashton, who agree to sell to the Provisional Directora all the buildings end leasehold land, and it has been arranged that the new Company shall take over all the fixtures, &c, as part of the building , . Messrs Swan and Ashton reserve to themselves the right to take up shares to the value of £1000. They also guarantee tho Shareholders 10 per cent, for thu first 12 months, and in addition undertake to carry on the management of tho business for that period free of charge. The present Proprletorahave an unexpired lease of 82 years at a ground rent of £100 per annum and the insurance premiums are the only expenses beyond fair wear and tear. Tho Theatre is in excellent order, having lately been thoroughly repainted and redeoorated, and it is acknowledged by all Theatrical Companies to be one of the best appointed' Theatres in New Zealand. The income will be derived by the letting of the Theatre, which S3 readily taken by Theatrical Companies, at the rate of £20 per week. The ordinary nightly rentals aro from £4 10s to £610s. and being always paid in advance, is a protection against any loss by bad debta. The advantages of the public will be having the option of reletting to the various local bodies such as the Theatrical Clubs, Public Meetings, Volunteers, Gymnasium, &0., and for Balls and Skating Rink. The expenses are very small, the Store adjoining the Theatre (part of the building) is let to Mr Prebble for £80 per annum, on the agreement that he acts as custodian, thereby saving any expense in keeping the Theatre 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. ABEIDO-ED TJROSPECTUS JL OF THE EAST COAST NATIVE LAND AND SETTLEMENT COMPANY, (Limited.) Capital £500,000, 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 months. Provisional Directors : Hon. W. H, Reynolds, M.L.C., Dunedin John BarTaclouah, 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, Eeq, Dunedin C. A. DeLautour, Esq, M.H.K., Gisbome Allan M'Donald, Esq, M.H.R., Gisborce D. H Mackenzie. Esq, Auckland F. J, Moss, Esq. M.H.R., Auckland Wiremu Pere, Native Chief, Gisbome Henare Potae, Native Chief, Tokomaru Bay J. B. Poynter, Esq, J. P., Gisbome C. A. Pritchard, Esq, Christchurch D. Proudfoot. Esq. Dunedin G. M. Reed, Esq, Gisbome R. C. Reid, Esq, M.H.R., Hokitika R. H. J. Reeves, Esq, M.H.R., Nelson H. C. Robjohns, Esq, Napier Major Ropata, Native Chief, Tokomaru Bay J. M: Shera, Eeq, Auckland R Stout. Esq, Dunedin W. H. Tucker, Esq, J. P., Glsborno J. S M. Thompson, Esq, Wellington R. Wilson, Esq. Dunedin Managing Directors : J. M. Dargaville, Esq. ) ■ Auckland J. F. Clarke, Esq. J AucMand J. B. Poynter, Esq. > oj gborne C. A, DeLautour | uisDorne J. S. M. Thompson, Esq., Wellington Pere Ropata, East Coast Solicitors : Wellington—Messrs Sievwrlght and Stout Giaborne—W. L. Rees Bankrrs : Tho Colonial Bank of New Zealand Brokers and Abbots Auckland—Alexander Saunders Dunedin— J. B. Bradshaw Oamaru —Joseph Booth Christchurch—T. B. Craig Wellington—Lidbetter and Cooper Napier— M. R. Miller Hon. Secretary : F. o. Moss, M.H.R., Wellington Tbe 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 be 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'bf the Company. It is intended that the cash capital raisad shall be employed in defraying expenses of management, ! completing titles, effecting surveys and subdivision into farm ard township lots, opening means of access, conducting the sale and leasing of lands, promoting the formation of Special Settlement parties from England and elsewhere, making advances to settlers on security, and generally in utilising the lar-ds and property vested in the Company to the best advantage. The Company is at presentrefiistered 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 Native lands, the Native owners in the Poverty Bay and East Coast districts being strongly desirous of opening their lands 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 makintr provision for their own requirements, entered into contracts for pass'ng over 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 aDsolutely 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 iegulations guiding tbe disposal of the waste lands of the Crown. The Capitalist Shares will be preferential, having Secured to them a minimum of eight per cent per annum as a first charge on the profile, with a further division of profits hi proportion to the capital invested. Five Directors will be elected by the 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 tbeir 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 seslectreaerves for their own occupation , surrendering their shares in payment. Ten thousand shares will be set apart for sale In Britain to intending Senate settlers, and an officer of the Company will bo located in England, to send