Page 3 Advertisements Column 6

Manawatu Times, Volume XXVI, Issue 7276, 28 August 1901, Page 3

PROSPECTUS OP Abraham atd Williams, LIMITED. A COMPANY TO BE INCORPOEATED trT-.dtt "THE JOINTSTOCK 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 tho 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 called the " B " issue, shall be payable by 5s on application, 5a on allotment, and the balance by calls not exceeding 5s each at intervals of not less than six months, as requited. The full amount ot the "A "-issue available has been fully V scribed since issue of Interim Prospectus. Promoters: ALLAN STEANG, Palmersfon North. A. ACHESON-GRAY, Pohangiua. JOHN COTTEB, Wairarapa. D. MONRAD, Karere. CHAS. E. BEET HAM, Pahiatua. A. L. D. SHEKELTON, Pahiatua, ROBT. STEVENS Palmerston North. J. I. N. MACKIE, Kumoroa. E. J. WILDE, Manon. i F. S. McRAE, Paluaerston North. i J. R. McDONALD, Levin. HODGINS BROS., Tane. E. L. ANDERSON, Makuri. R. THOMPSON, Nikau. D. H. JENKINS, Ohau. R. E. YOUNG, Colyton. L. A. ABRAHAM,, Palmerston North, iR- S. ABRAHAM, Palmerston North. O. H. PORRITT, Palmerston North. O. C. COOPER, Pahiatua. | Bankers : I THE BANK OP NEW ZEALAND. Secretary, tern .• P. L. SIM. Brokers: JOHNSTON & SIM, Palmerston North, Application Forms for Shares can be obtained from the following :— BARRAUD & ABRAHAM, Feilding. BAJKRAUD & ABRAHAM, Danevirke. BRAMWELL & WILSON, Colyton. K. McLENNAN, Woodvillc. C. K. WILSON, Levin. G. H, HARPER, Otaki. Solicitors : HANKINS & LOUGHNAN. The Company is being promoted for tbe purpose of purchasing, taking over, and carrying on as a going concern and upon co-operative principles, the busi~ ness of Stock, Station aud General Commission and Financial Agents nowbeing carried on at Palmerston North, Colyton, Pohangina, Shannon, Levin, Otaki, Mauakau, Johnsonville, Woodville, Danevirke and Pahiatua by Messrs 11. S. Abraham, O. H. Porritt and O. C Cooper, under the style or firm of "Abraham & 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 Company, the Company taking over all the trade liabilities, contingent or otherwise, of the Vendors. Tha Vendors further agree to manage the business of the Company for live 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 Company contributed by the shareholders other t than themselves. They undertake during the same period not to sell without the consent of the Directors any of the shares allotted 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 tho Company may consider 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 fuily paid-up shares is provided to suit the convenience of shareholders who may wish to liquidate tbejentire liability on their shares at once.' It is anticipated that not more than. Twenty*, five Shillings will be required to be called up on tbe B issue of shares, in-, eluding tho specified payments: on application and allotment. Careful independent, valuations have ' been prepared of all the landed proper* ties of the 'firm,., consisting of yards at their various centres, and other freehold and leasehold properties, which, in the aggregate, amount •to over Sixteen I Thousand Pounds, Sterling ; full particulars of which can be obtained at the firm's offices, or from the Brokers, Johnston & Sgi, Palmerston North. Any reference regarding the standing of the Firm can be obtained from any branch ot the Bank of New Zealand. In presenting this Prospectus the Promoters feel confident that the following considerations go far towards insuring the success of the Company: — .PIBSTLY—Co-operation being the ! main feature of the Company, it is anticipated aud greatly to be desired that the bulk of the Shares will bo taken up by farmers, pastoralists and stock owners. Apart from the direct benefit which these Shareholders will deriye from the payment of dividends, pros vision 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 tho amount of business actually contributed by them to the Company. Such inducement to a largo body of stock owners to deal with the Company must result in a great increase of business. SECONDLY—The Vendors are offering exceptionally liberal terms, as they are taking no cash payment, are relying entirely upon tho success of the Com-, pany for the return of their capital, and are guaranteeing a Six per cent. Dividend upon paid~up capital for live years. They are doubtless doing this upon tbe returns of the business in the past. THIRDLY—In securing the services as General Manager of Mr R. S. Abraham, who has beon 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 aaf ely 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 large reserve capital and upon co-operation principles, will be to greatly increase tho profits. FIFTHLY—The amount of the nominal capital has been mad sufficiently large to enable tho absorption if thought desirable at any future time, of other businesses of a similar description to the present one in other parts of the district and in other districts, and otherwise to supply the wants and conserve tho interests of farmers and pas* toralists upon truly co-operative linesSIXTHLY—Tho success of similar Companies, such ab Williams and Kettle, in Hawke's Bay, whose shares are unobtainable, and the Canterbury Farmers' Co-operative Association, who have just placed a new issue of shares upon the market at a premium of live shillings, shows that business of the kind contemplated can be successfully carried on upon purely co-operative principles. U.F.O.A. ANNUAL BALANCE, 1901. QHAEEHOLDERS arc requested O to return all coupons received with cash purchases to auy of the Branches of the Association on or before the 81st August, 1901. CHARLES E. DEMPSEY, Secretary, ~~MANAWATU GOLF CLUB. h NNUAL Tournament, Beptem- £% ber 3rd, itb, oth, and 6th. Entries close Saturday, 81st August. Programmes can be obtained from L. A. ABRAHAM, Hon. Secretary, , "^-i'/'EDDING, Birthday ami Complirnsn * tavy Pnaeuts. Tor Beauty, soleo t-ion, ami vuluego to Barry's, Cheapsidc.