Page 3 Advertisements Column 5

Manawatu Standard, Volume XL, Issue 7092, 28 August 1901, Page 3

PPROSECTUSVlttLMl\>l &UN lIAIIS.

LIMITED. A Company to be Incorporated under "The .Joint Stock Cbmpanios Act, -1882."' ' SHAKE CAPITAL (with powor to increase) ■ ..., -... 4-60,000 Divided into* 12,000 -Shades, of-£5 each' of which the Vcndois retain 6000 fully^paid-up. Of the balance 2000, to be called the " A" issue, shall bo payable by v 62 10a on application and £2 10s on allotment, and 4000, to be called the'" B " issue, shall be payable by 5/- on 'application, 5/- on allotment, and the balance by calls not 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'lnterim Prospectus. Promoters: Allan Strang,'Palmerston North. A. Acheson-Gray, Pohangina. John Cotter, Wairarapa. - D. Monrad, Ifarere. Chas E. Beothain, Pahiatua. A. L. D. Shekelton) Pahiatua. Kobfc. Stevens, Palmerston North. J. I. N, MacMe, Kurneroa. E. J. Wilde, Marton. F. S. McEae, .Palmoxston-North. J. E. McDonald, Lovin, ' Hodgins-Bros., Taue. F. L. Anderson, Makuri. ■ E. Thompson, Nikau. D.H. Jenkins, Ohau. ' » E. E. Young, Oolyton. LT A. Abraham, Palmerston North. E. S. Abraham, Palmerston North. O. H. Porritt, Palmerston North.'' O. C, Cooper, Pahiatua. "> -* Bankers :" The Bank of New Zealand. Secretary, pro tern: P. L. Sim. Brokers : . , ■ Johnston & Sim, Palmerston North; Or Shares can bo obtained: from the following:-Barraud & Abraham, Feilding; Barraud & Abraham, Darinevirke; Bramwell & Wilson, Colyton; K. McLennan, Woodville; C. K. Wilson, Levin; G. H. Harper, Otaki. Solicitors : ' ' Hankins and Loughnnn. The Company is being promoted for -the purpose of purchasing, taking over, and carrying on as a going concern and upon co operative principles, the business I of stock, station arid general. commission and financial agents nojv being carried on at Palmerston North, Colyton, Pohanginap Shannon, Levin, Otaki,' Kanakas ' Johnsonville,' .Woodville, Danneyirke, and Pahiatua by Messrs E.rs: Abraham, O. H, Porritc and 0. 0. Cooper,; under .. the, style .or:.firm of i 1 Abraham■& Williams." -. The vendorsragree to sell and transfer to the Company the goodwilliandajl.the assets belonging a,nd appertaining> to their business, and to accept in full paymenti therefor 6000 fully paid up shares of fivepounds each in the proposed Company/ the .Company taking over all the trade liabilities, contingent or otherwise, of the vendors.'-,.■.;., ~rv ':"■■:" T ; The vendors farther asree to manage the business' of the Company., for five years at low": v 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 Company contributed by the shareholders other than themselves, They - undertake during the 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*frbm-them and all book debts which tne\C-ompany may comsider bad orspjibttul. It isnotljthg. intention of the Promoters to place all the Shares upon the market at one time.* • ;s?hey 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 .the enfire liability on their Shares at'once: .It is anticipated that not more, than ■ twenty-five shillings' will be < requiredio 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 varjousicentrgs, and other freehold and leasehold properties, which, ;the 'aggregate amount :to over' Sixteen Thousand Po'nnds sterling; full particulars, of which can'1 be obtained at '■. the firm's, office^ or from the Brokers, [-Johnston & Sim, Palmerston North. . i 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 Pro- ; motors feel confident that the folv ..\ lowing.'considerations 'go?, far to- ■• wards ins^ng the, Buccess, of the . ... Comw»9W— ■-'■ ■■■.-. . - ."■.' FIBSTLY-^Cp-operation being the main feature oMhe. Company it is anticipated and^jgatl}^, .to be..desired that the. bisrt-k of the shares' will be taken up by farmers, pastoralists. and stock owners'. Apart from-".the direct benefit which, these Shareholders will derive from the: payment of dividends, provision will be rri'a^e'fnthe Articles of.; Association for the" distribution of 'a'^ proportion of the profits.of the Company.Amongst Sharelioldetsij pro. rata upon the amount of business actually contributed. by _theni to .the Company.- -Such" inducement to a largebody-''of;stook' owners to,' deal: with r the Company must result in agreat increase pi business. .'•"''.-.-. :

.■"" SECONDLY—The Vendors are'offer-, ing'exceptiorially liberal terms," as they are faking no'cash payment."are .relying eritkely upon r the" success' of the Com-' pany for the return, of their- capital, and. arc guaranteeing a Six per cent. Dividend upon paid-up capital for five years.■ They are doubtless doing this upon the returns of tho businessin the past.;: ■-.; "•, THIEDLY.—In securing the'services. as General Manager of Mr E. S. Abra-, hath,-who' has been the head of the present, firm from the inauguration; of the ;said. business to ■ the. presenttirne," and the services as' Managers of :Me'ssrs Porritt arid "Cooper, who have 'been associated with Mr Abraham during-the last three years, the Company obtains a guarantee that thei-business will be'coh: ducted bri sound and successful business lines'.""./' -.■■■'■' '■'' '::'■'■"■''''> -,■■"■'' '•' '"-.'. ' '; "FOUETHLY.—The present business, whioh it is welPknownj .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 in developing this business- under the same management and upon. the broader' and more "solid foundation of a larpe fesoi'ye capital arid upon co-operation' principles r wili be to greatly increase the. profits. -"■''■'r'\r'-• ■'. '-"•':' -■■■: '.■■'-'. .■'}•: '^-.- : FIFTHLY.—The. amount of the; nomi-L; ■•rial- capital -had ,bee,n ;rnade;:sufnpiferitly .large to.enable theabsbrption if .thought desirableat any future time,.of.other:businesses;of;a similar description';tp^th'eprer sent one in other parts of the district and iri other districts, and otherwise to supply; the wants;and conserve :tho; interests .of farmers .and pastoralists upon truly.. Co--operative: linos'. ; ■''. ••■■ ■' ■;' " ;.i -'-A ' •, :'-': 'd ■': ':■:. ..SEKTHLY.—The 'success^pf similar■ conipanies, such as W^illiams & fettle, in.Hawke's Bay,-whose .sliares,:are'.vuri.obtainjible, .and the panterb,uxy Farmers' Co; operative ■Associatiqnjvlip^have just placed a;new issue;'.o£'sfiares;upon the, market' iit:a. premium bfj:five'shillings,; ihows.thatijjusiness;:'oi: - tlie. Mp&. on-" l ; : tqmplated,-can' basuccessfully oarriedlqir upon;purcly':Co,:6^erative principles.;;..! -:

U.F.O.A. I COUPONS. ' ( I QHAREHOLDERS aio requested to O hand m Coupons received with Cafeh Purchases as esuly as possible, as the books are closed for Annual Balance on the 31st August,