Page 4 Advertisements Column 5

Daily Telegraph (Napier), Issue 6064, 3 February 1891, Page 4

ABRIDGED PROSPECTUS OF THE HAWKE'S BAY FARMERS' COOPERATIVE ASSOCIATION, LnniuD. To be Registered under the Companies' Act. CAPITAL (with power to increase) £100,000 In 20,000 Shares of £5 per Share, Payable as follows :—los per Share on Application ; 10s per Share on Allotment; and the balance in Calls of 5a per Share at intervals of not less than three mouths from date of registration : but Calls will only be made when required. PROVISIONAL DIRECTORS : John Bennett R. P. D. M'Lean M. R. Miller A. D. Milne Cartwright Brown D. Carmiehael W. A. Couper Wm. Heslop R. R. M'Kenzie Maurice Mason J. Chambers, Jun. Wm. Speedy Alfred Dillon H. Harris 0. Cranby Josoph Bicknell 1 John Anderson With power to idd to their number. BANKERS (Interim): Banx of New South Wales. SOLICITORS : Sainsbuey and Logan. TREASURER (Acting): J. Bennett. SECRETARY (A.cting): M. R. Miller. The proposed Association is to be formed for the purpose of affording both largo and small Farmers an opportunity of taking an interest in the realising of their own Produce, either in the Colonial, British, American, or Continental Markets through the medium of the Association, and every producer throughout the district will have an opportunity of participating in the profits derived from the sale of their Produce by the Association as selling brokers by taking up shares in the Association, thus reducing the cost of realising their produce to the lowest minimum. The leading objects of the Association are as follows, viz. :— 1. To act as selling Brokers for every description of Produce and Live Stock, Farm and Station Property. 2. To deal in Produce of every description. 3. To deal in Merchandise of all descriptions. 4. To conduct the Sales of the Association on a Cash basis. 5. To charter ships to England or elsewhere for the carriage of produce or the import of merchandise, 6. To make advances on Stock, on Wool on the sheep's back, and also on growing crops collaterally secured if necessary. 7. To make advances on Wool, Grain, Roots, Coal, or Timber, &c, either for sale in the Colonial Market or any other markets. 8. To ship Wool, Grain, and all kinds of Produce to British Porte or elsewhere and make advances on same, and to do all other business as may be considered by the Directors incidental or conducive towards the attainment of the objects of the Association. As no co-operative business can be expected to be successful that in not, financially souud, tbe promoters of this Association are determined that its management and working expenses shall ba conducted with the most rigid economy. The success of other Co-operative Associations formed on the same lines as laid down for this, noUbly the N.Z. Farmers' Co-operative Association of Canterbury, Limited, leave no room to doubt but that under a careful Board of Directors, to he elected at tho first ger.erul meeting of Shareholders, banoVomo dividends may be regularly derived from Commission and Charges for the ealo of Prudune, including Wool, Grain, Sheep, Cattle, &■■!., and still moi'a largely on profit on Merchandise, Freights, Discounts, Interest, and Insurance \ The Memorandum and Articles of Association may be inspected at the Aotiug-Seore--2 tary's Ofiice, Athenseum Buildings, Napier, j where further infonniitiorj may be had and : APPLICATION FORMS niiiy be obtained ■ provident SOCIETY, and secure an ANNUAL BONUS or DIVIDEND, t A PRIVILEGE WHICH NO OTHER . COLONIAL LIFE OFFICE CAN k GRANT ITS MEMBERS. ' Be careful that you SELECT THIS SOCIETY, and do not be MISLED by the similarity of Name of some of the otb,er younger Australian Offices. The attention of the Members and the General Public is called to some of the special features connected with this Society, which is the oldest Colonial Institution of its kind, having been established iv the year 1849. The results of the business for the Fortyfirst Year, enuiug 31st December, 18S9, may be summarised as u>;der : FIRST—The number of the New Policies issued was 11,6.64. SECOND—Tho new Assurance business effected was for £3,679,459. THIRD—The New Annual Premium Income amounted to £121,800, I FOURTH—The not increase to the business, after allowing , for loss of income from terminated Policies was rejyjcsented by 7028 Policies, assuring £2,109199. FIFTH—The operations of the j'ear raised the annua.l income of the Society from to £1,625,185, an increase in twelve months of £112,905 SIXTH—The Accumulated Fund was increased during tho year by the sn,tu «f £742,311, equal to 71 per" cen.t, of the gross premiums received.. SEVENTH—The deaths amonjj- live", assured were <H& under 785 policies, causing claims upon t^ e Society amounting to £29D,602., irrespective of Bonus additions, while the number expected according to the Tables used in estimating the liabilities would have beeu 1143, for an amount of £438,976, the mortality experiences being thus extremely favorable. EIGHTH—The receipts from interest and rents were £516,532, an amount exceeding the sum paid for the claims by £158,952. NINTH—The expenses of Management were only 9-5 per cent of the total receipts. TENTH—The cash surplus divided for the year ISS9 was £426,494, being at tbe rate of 41 o per cent, on the premiums received. The operations of the 'Society during the 41 years of its exiitenoo may be summarised as under— Ithasiesued 141,907 policies, assuring £49,417,717 It has paid to ths representatives of deceased members over £4,000,000 in satisfaction of death and matured claini3. It has divided among the members cash bonuses aggregating over £4,000,000, yielding reversionary additions of over £"%000,000. It has acquired an Accumulated Fund of £9,000,000, ALL INVESTED TO 2IELD FULLY 6 PER CENT. INTEREST. Assets iv Now Zealand—£l,273,sl4. EDWARD W. LOWE, Resident Secretary. Bbanch Office— CUSTOM HOUSE QUAY, WELLINGTON. Napier District Office— ARTHUR H. GORE. Agency Clerk. SHE E pj' I) I P • The Undersigned is Agent for this Valuable Dip, and will ha glad to supply all orders. For killing Ticks emd Lice and improving the condition of the Wool it cannot bo surpassed. ' H. A. BANNER, Sous Agent fob Hawke's Bay. L