Page 2 Advertisements Column 3

Marlborough Express, Volume V, Issue 218, 26 February 1870, Page 2

A PROSPECTUS. WAIRAU STEAM NAVIGATION COMPANY, (LIMITED.) Capital : £SOOO in 500 shares of £lO each. PROVISIONAL DIRECTORS : Mr. J. F. Hathaway, Mr. J. Maech, ~ E. Paul, ~ G. Stoeey, Mr. J. Redwood. Managing Director : Mr. J. Paul. Bankers ; The Bank op New Zealand. Solicitor : Mr. H. Pitt. Office of Company : Marlborough Town. THE COMPANY is formed to supply a want greatly and increasingly felt in tlie Wairau District, Whilst a large demand exists in many Ports of the North and Middle Islands of New Zealand, and particularly upon the West Coast of the latter, for those articles which this District produces in profusion, J there is not at present any facility afforded for taking advantage of that demand. It is proposed, therefore, by means of this Company, to provide a Steamer of light draft, with adequate power to secure her making speedy and regular passages from the Wairau to Wellington, Nelson, and the different Ports on the West Coast, touching at such other Ports as may offer inducements, either in the way of Freight or Passengers. Such a vessel will enable the settlers of this District to avail themselves of a constant cash market for their farm produce, at present comparatively valueless for want of a market. The advantages to be thus secured, to say nothing of the indirect benefit sure to flow from a judicious employment of the proposed capital, cannot fail to prove beneficial to the District; whilst the profits of the Company will be retained in the District, instead of enriching the outside capitalist. It is proposed to construct a suitable vessel, according to an approved model, in Sydney. A pair of disconnecting engines of 25 horse-power nominal, with a nearly new boiler (extra strong), in first-rate working order, are available. These belong to Mr. J. Paul, who proposes to place them at the disposal of the Company •, to supply anchors, chains, and to superintend the building of the vessel in Sydney, in consideration of 150 paid-up shares being allotted to him. The remaining 350 shares will be allotted according to priority of application, the Provisional Directors reserving to themselves the right to allot any less number than applied for as they may deem desirable. The sum of Ten Shillings per share must accompany every application ; and the further sum of Ten Shillings must be paid on notice of allotment. The remaining sum of £9 per share shall be paid by three promissory notes payable respectively at two, four, and six months from date of allotment to the order of the Managing Director. When the whole of the shares, or such number as may be deemed sufficient, are allotted, a general meeting of the shareholders will be called to elect permanent directors, and for such other business as may be necessary. It is believed that the boat can be built and ready to take up her station within five months. From the economical character of the boiler and engines proposed, and by a careful and judicious management, it is calculated that a large profit can readily be made upon the operations of the Company. This anticipation, and the manifest advantages to be conferred upon the District, justify the promoters in inviting the public to assist them to form the proposed Company without delay. FORM OF APPLICATION FOR SHARES. To the Provisional Directors of the Wairau Steam Navigation Company,— Be pleased to allot to me shares in the W.S.N. Co., Limited. I herewith enclose £ being Ten Shillings per share upon the same, and I hereby agree to accept the same, or any less number of shares that may he allotted to me, upon the terms of the Prospectus. Dated this day of , 1870. Name. Address. Occupation. Applications for Shares can be made to the Provisional Directors, Mr. H. Pitt, or the Managing Director, before the 15 th day of March, after which date the share list will be closed.