Page 4 Advertisements Column 4

Evening Post, Volume XXXII, Issue 22, 12 June 1886, Page 4

""DKOSPECTTJS OF THE WELLINGTON JC BUILDING AND INVESTMENT , COMPANY (Limited), ■jo be Registered under "The Companies Act, 1882." Capital, .£lOO,OOO in 10,000 Sbarc3 of £10 oach (of which it is intended to make provision at present to call up JBS), with power to increase. Payment for Shares by In=talments extending, if desired, through a number of years. Provisional Directory : J. E. Blair, Esq., J.P. (Lyon <fc Blair) (Chairman) James lUrry, Esq. (Barry & M'Dowell) Win. Datvdbn, INq., J.P. (\Vm. Duwson & Cl>.) T. G. Maoarthy, Esq., J.P. (Brewer) James M'Kerrow, Esq., J.P. (SurveyorGeneral) Joseph Xancnrrow, Esq. (Inspector of Machinery) R. M. Simpfcon, Esq., J.P. (Manager N.Z. Insuranco Co.) Bankers : The Bank of New Zealand. Solicitors : Messrs. Buckley, Stafford, & Barton. Interim Secretary : E. M. Simpson. The increasing importance of Wellington and the surrounding district is creating ample room for the establishment of another financial institution. It is therefore determined to float the above Company, with tho following objects in view : — Ist. To assist persons desirous of acquiring property. . 2nd. To utilise savinjja to the best advantage, by enabling persons to contribute according to their means, and by proper investment to s>eeure the highe-st available rate of interest. 3rd. To enable persons desirous of borrowing on security of property, to do so at a fair rate of interest and to provide an easy mode of liquidating tho principal. 4th. By conditions of contributions for shares, and by various table, to provide means for accumulating funds to meet any Bpecial requirement, such as endowment for children or provision for old age. The Company will be essentially mntual in its operations, as its entire aim will bo to promote the best interests of borrowez-s and lenders by becoming tho medium of business between them, and so secure a fair share of advantage to each. To tho working man an opportunity will bo given to invest savings in the most advantageous manner possible. To tho man of some small means there will bo a safe modo of realising the highest rate of interest for his money without any core or anxiaty on his part as to the issue. To tho capitalist there is an opening for him to utilise some portion of his wealth in a useful and profitable manner. The want of such a Company as proposed is distinctly felt, even in these comparatively dull timoß. Tho scheme, therofore, is launched with tho greatest assurance of success, as it must be admitted that the tendency will be for values to improve immediately the cloud of depression has passed away from the commercial world. As eonfidenco returns, undertakings such as this will bo carried forward on the succeeding wave of prosperity. / EXPENSES OF MANAGEMENT. Arrangements are being made to have the oxpenses of management on a moßt economical scale, as also the legal work. SHARES. Shares will be of the nominal value of .£lO oach, but it is not intended, to make provision to call up at present more than .£5 per sharo. This amount will bo payable in either one of two ways as may be selooted : — Class I—ss1 — 5s on application, 5s on allotment, and monthly instalments «f 5b por share for eighteen consecutive months after allotment, as shall be diroctod. The Board of Directors may permit any such sliareholders to pay in advance of tha stipulated time and secure a corresponding benefit, in dividend or interest, as may be arrangod. Class 2 — By monthly payments under special table, oxtending over poriods of five, six, eight, or ten years, as shall bo solocted ; the shares being deemed to bo duly paid up to J25 each when the whole of the instalmonts are paid as agreed upon, until which period tho, holders of such sliares do not otherwise participato in the Company's prcfits. It will be &een by tho tablo below that a person taking those shares pays in less than tho nominal paid up value, and to this extent ho participates in the profits made. In this class no fewer than ten or more than fifty shares will be allotted to any one person. No moro than one-fiftieth of tho whole numbor of shares of tho Company can be hold by one person, EXAOTLEPayments in Class J}, for every 10 shares, paid up to £5 per share—^6so. PmHnd Per Total Period. Month p aymen ta. s. d. £ s. d. 5 years ... 14 9 ... 44 5 0 6 years ... 12 0 ... 43 4 0 8 years ... 8 G ... 40 16 0 lOyoars ... 6 3 ... 37 10 0 Every application for shares must be aocompamod by a deposit equal to one month's instalment on the number applied for. Application for shares, accompanied with deposits, will be I'eoeivod at any agonoy of the Bank of Now Zealand throughout the district, or by tho Secretary, Mr. E. M. Simpson, New Zealand Insnranco Buildings, cornqr of Groy-atreot and Lambtoh-quay, Wellington, by whom also overy information respecting the Company will bo furnished. PROSPECTUS OP THE PETONE AND HUTT -BUILDING AND INVESTMENT COMPANY (Limited). Registered 12th Mat, 1886. (Limiting tho liability of shareholders to tho amount of their shares.) CAPITAL .£50,000 1 In 5000 Shakes of w£lo Each Payablo as follows : — 2s 6d per share on application, 2s tid on allotment, and 2s 6d per sharo thereafter, payable monthly, for 38 successive months (if required), an,d on the firßt Monday of every month, until £5 por share is paid ; the balance (if required) as the Directors may appoint. No notioo of instalments given . to shareholders. Chairman : Thomas Mason, Esq., settler, Taita, Hutt Directors : Edward Barber, Esq., settler, Petone Charles F. Beatson, Esq., architect (Civil Service), Hutt George Carter, Esq., builder, Petone James Hector, Esq., M.D., C.M.G., Potone S. E. Johnson, Esq. .timber merchant, Petone W. J. Kirk, Esq. (Civil Service), Chairman Town Board, Petone Bankers i The Colonial Bank of New Zealand. Solicitor: E. Clement Kirk, Esq. Secretary : G. Bell Williamson, Esq. Auditors j Brokers i Messrs. Williamson & Go. This Company will combine the advantages derived from the experience of many other similar and successful institutions now working in the colony. The general principle aimed at is— That the intorosts of all concerned shall bo purely reciprocal ; the main features being — 1. To provide capital whereby residents and others will bo enabled to acquire property, freehold or leasehold, in town or country, by moans of easy periodical repayments which leave a reasonable margin of profit to the Company, while being amply proteotod in point of security. 2. To enable persons posseHsed of land to erect buildings thereon, either by progresspayments or in a lump sum, repayable by instalments, or at tho expiration of a fixed period of years. 3. To receive deposits, and to afford a safo and profitable investment both for capitalists and during accumulation of smaller savingß by others. 4. To grant loans to members on tho value of their shares ; and, generally, to encourage in every possible way— consistent with sound security— mombers in the direction of thrift and independence, by enabling them readily to acquire property, and particularly to obtain a_ comfortable freehold home without incurring the exhorbitant charges which so frequently attend private arrangements. 5. It must be obvious to every resident, and to every observer of tho extraordinary progress of these localities, that this Company will provido for an absolute and urgent necessity which exists at the_ present lame. 6. It is consequently believed that tho residents, and the public generally, will warmly welcome and support tho advent of such an institution, the first in the district. 7. Also, that they will appreciate the privilege of obtaining admission as shareholders to a financial undertaking of this description, at the commencement of its operations, when no large sum representing paid-up shares, nor the usual heavy premium on such are required, as, owing to their success, is the case with most other financial Companies in the Colony now carrying on business. 8. The Directors will consider each application for shares on its merits, and will allot accordingly, but they reserve the right to refuse any allotment absolutely if they shall think fit. _ In such coses the deposit will be returned in full,. Applications for shares may be made to the Secretary at Wellington and Petone, sither directly, or through the Brokers of the_ Company, or any Agents. Every application must be accompanied by the required deposit, or by a receipt from any Branch of the Colonial Bank for the amount of such leposit. Application forms may be obtained 'rom the Secretary and Brokers, their igents, or at any Branch of the Colonial Bank of New Zealand. WILLIAMSON & CO., Star Chambers, 41, Lambton-quay, Wellington. CASH BOOT SHOP, MOLESWOBTH-STREET. W. H O O K,E Will hold a JHEAP CLEARING SALE POR ONE. . MONTH Of his Colonial made BOOTS AND SHOES, U prices never before heard of in Wellington. /Ome and inspect the Stock, and juoge ipr yourselves. MUST BE SOLD. No Reasonable Offeb Refused. CENTRAL HOTEL. BEEF TEA and Toast daily, 10 to 12. 6d. Luncheon doily, 12.30 to 2,-ls. W. J. SCOTT, Proprietor.