Page 3 Advertisements Column 4

Manawatu Standard, Volume XL, Issue 7091, 27 August 1901, Page 3

■ '■■' ■ ■.'•■ ■'-" -. of .■.-'■■■ •'" ' .--. ;■' : iß!lffll: : &WipSS, . :" .LIMITED.-..'' ,- , \ A Company to be Incorporated under "TiTS Joint Stock Companies Act, ■ 1882.", ,' .... .-' ■■:. ■':-- • .-■ SHARE CAPITAL (with,power / to increase) "... ;.. £60,000 Divided into 12,000 Shares, of £5 each' of which, the Vendors retain 6000 fully paid-up. Of the balance 2000, to-be called the " A" issue, shall be payable by £2 10s on application and- ■ £2 10s on allotment, and 4000, to be ' ■■• I called the " B " issue, shall bo pay- ': able by 5/- on application, ■• 5/- on allotment, and the balance by calls cot exceeding 5/- each, at intervals of not : less than six months, as required. ;•' •- - ■''... The full amount of the " A" issue available has been fully subscribed since issue of Interim .Prospectus... Promoters: . . -..-. *. Allan Strong, Palmerston North. A. Acheson-Gray. Pohangina. '. ' . John Cotter, Waitarapa. ' D. Menrad, Karerc. : '■'"-.' Chas; E. Beethain, Pahiatua. A. L. D. Shekelton, Pahiatua. . Eobt. Stevens, Palmerston North. J. I. N, Mackie, Kumeroa; ■;• E. J. Wilde, Marton. . I". S. McUae, Palmeiston North. J.E. McDonald, Levin, ' Hodgins Bros., Tane. F. L. Anderson, Makun. R. Thompson, Nikau. D. H.Jenkins, Ohau. E. E. Young, Oolyton. L. A. Abraham, Palmerston-Norlb. E. S. Abraham, Palmerston North. O. H. Porritt, Palmerston North. O. C, Cooper, Pahiatua. ~: ' .'" ".. Bankers: The Bank of 'New' Zealand. " - - Secretary, pi-o'lein : P. L. Sim. : ; ~ Brokers : Johnston & Sim, Palmerstou North ; Or Shares can bo-obtained from the following :-Barraud & Abraham, Feildjpg; Barraud & Abraham, Dannevirke; Bramwell & Wilson, 'Coljton; K. McLennan, Woodville; 6. K. "Wilson, Levin ; G. H/Harper, Ocaki. Solicitors : Hankins and Loughnan. The Company is being promoted for the purpose of purchasing, takiDg over, and carrying on as a going concern and upon co operative principles, the business of stock, station and general commission and financial agents now being carried on at Palmerston North, Colyton, Pohangina, Shannon, Levin, Otaki, Manakau, Johnsonville, "Woodville, Danneyirke,' and Pahiatua by Messrs E. S. Abraham,; O.'H, Porritt and O. C. Cooper, under the stylo or firm of i'Abb ADAM. &. Williams." ' .- : The vendors agree to sell and transfer to the Company the goodwill and all the assets belonging and appertaining to their-business, and to accept in full payment, therefor 6000 fully paid up shares of five pounds each in the proposed Com--pany, the Company taking over all the trade liabilities, contingent or otherwise, of the vendors. The vendors further acreo to manage the business of the1 Company for five years at low fixed salaries, and during that period they personally guarantee a dividend of six pounds per centum per annum, payable half-yearly, upon the paid-up capital of the GompaDy contributed by the shareholders other than themselves. They undertake during tho same period not to sell without the consent of the Directors any of the shares alloted to them in the Company. The vendors also guarantee the due payment of all current bills taken over by the Company from them and all book debts which the Company may comsider bad or doubtful. It is not the intention of the Promoters to place all the Shares upon the market at one time. They propose to reserve a proportion of the Shares until the anticipated increase and development of the business renders it .desirable to introduce fresh capital. The A issue of fully paidup Shares is provided to suit the convenience of Shareholders who may wish to liquidate tho entire liability on their Shares at once. It is anticipated that riot more than twenty-five shillings will be required to be called up on the B issue of Shares, including the specified payments on application and allotment. Careful independent valuations have been prepared of all the landed properties of the firm, consisting of yards at their various centres, and other freehold and leasehold properties, which, in the aggregate amount to over Sixteen Thousand Pounds sterling; full particulars of which can be'obtained at the firm's offices,- or from the Brokers, Johnston & Sim, Palmerston North. Any reference regarding the standing of the Firm can be obtained from any branch of the Bank of New Zealand. In presenting this Prospectus the Promoters feel confident that the following considerations go far towards insuring the succes3 of the Company:— FIRSTLY— Co-operation being the mam feature of the Company it is antici-: pated and greatly to be desired that the bulk of the.bhares will be taken up by farmers, pastoralists and stock owners. Apart from tho direct benefit which these Shareholders will derive from the payment of dividends, provision will be made in the Articles of Association for the distribution of, a proportion of the profits of the Company amongst Shareholders pro rata upon the amount of* business aotually contributed by them to the Company. Such inducement to a largexbody of stock - owners to deal with the Company must result in a great increaseoi business. SECONDLY—The Vendors are offering exceptionally liberal terms, as they are taking no cash payment, are relying entirely upon the success of the Company for the return of their capital, and are guaranteeing a Six per cent. Dividend upon paid-up capital for five years. They are doubtless doing this upon the returns of the business in the past. THIRDLY.—In securing the services as General Manager of Mr"R. S. Abraham, who has been the head of the present firm from the inauguration of the said business to the present time, and the services as Managers of Messrs 'Porritt and Cooper, who have been associated with Mr Abraham during the last three years, the Company obtains a guarantee that the business will be conducted on sound and successful business lines. • FOURTHLY.—The present business, which it is well known, started, from a small beginning, has gradually increased until it now practically monopolises" the whole. stock business of the immediate district. It may be safely expected that the result of employing the fresh capital indeveloping this business under the samdjnanagement arid upon the broader and 'rnoro solid foundation- of a lar?o reserve capital and upon co-operation prihciples,rwill be to greatly increase the profits. -..-.! :, .-•■ ■ ■ FIFTHLY.—The amount of the nominal .capital: had been made sufficiently large to enable the absorption if thought desirable at any future time, of flther businesses of a similar description to the present one in other parts of the district and in other districts, and otherwise to supply the wapts and conserve the interests of formers and pastoralists upon truly Cooperative lines. ' ..•■'. SIXTHLY.—The success of similar companies, such a"s Williams & Kettle, in Hawke's. Bay, whose shares are unobtainable, and the Canterbury Farmers' Co-operative Association .who have jusf placed a new issue of shares, iippn the market at a:premium'df five shillings, shows tha.t business* of 'the. kind contemplated can be 'successfully.carried on upon purely Co-operative principles.'

U.F.O.A. COUPONS. QHAEEHOLDEBS are requested to O hand in Coupons received with Cash Purchases as early aa possible, as the books are closed for Annual Balanot gn. the 81st August,