Page 1 Advertisements Column 2

North Otago Times, 25 June 1913, Page 1

Copy "lied with the Registrar of Joint Stock cJompanles the 7th day of May, 1913. , : Dated this 7th day 1913. PROSPECTUS Company Intended to be incorporated unier [the "Companies Hct, 1908." Divided into 20,000 Shares of £1 each; vynicn are now offered to the public for subscription to be paid as follows; 2/6 pen Shaw on Application, 2/6 per Share on Allotment, And the balance in Calls not exceeding 5/- per share at intervals of not less than three months. As the minimum subscription of 12,000: shares must be allotted within 90 days after the.first Issue of this Prospectus, the .subscription list will close on the second day of August, 1913. .■;•.;'| Provisional Directors: WILLIAM RUTHERFORD DARLING, of Oamaru, Grain Merchant. WILLIAM GARDINER of Papakaio, Farmer. WILLIAM GEORGE GRAVE of Oamaru, Solicitor. ROBERT KAY IRELAND of Oamaru, ijlour Miller. PETER McCALLUM, ;of Oamaru, Timber; Merchant. JOSEPH COWIE NICHOLS of Kurihekaj Sheep Farmer. DUNCAN SUTHERLAND, of Oamaru, Station Manager. Bankers: BANE OF NEW ZEALAND, Auditors: j None yet appointed; Brokers ! None yet appointed. 1 ' Solicitors: ' LEE, GRAVE & GRAVE, Thames Street, Oamaru, Interim Secretary : EBENEZER PIPER, Town Hall Chambers, Oamaru.

"\r omp , ahy is bsiu " forme( l for the purpose of purchasing the business in Oamaru known as the JNOrtli Otago Times," and of establishing and publishing newspapers, and generally of carrying on the trade and business of publishers, printers, and newspaper proprietors. Its primary object is to establish in the Town of Oamaru an up-to-date Morning Newspaper, to be conducted on modern and progressive lines. The promoters of this undertaking are convinced that an Independent Newspaper is wanted in this district; that a great sphere of usefulness is open to it, and that if properly conducted, it would not only become popular and influential, but would prove a lucrative investment to those putting their money into It is the idea of the promoters that the paper should publish the news of the day- with a scrupulou ß regard to fairness and accuracy; that it should express fearless and impartial views on all public and political questions; that it should be unhampered by any bias towards any particular class in the community; that it should advocate sound democratic principles, and'that its general policy should be dictated by prudence, tolerance, and common senso. ; ' Such a paper can hardly fail to commend itself to the public of the district. As a community the people are prosperous and progressive and the promoters believe that they will welcome a newspaper conducted on the. lines .ndicated. As a commercial proposition the promoters commend it to investors with every confidence. . The promoters estimate that about £IO,OOO will be sufficient for the purpose of obtaining the necessary plant, buildings, machinery, and material, and for meeting other expenses incidental to commencing publication. A considerable sum has already been promised and the Provisional Directors propose to proceed to allotment on receiving subscriptions for 12,000 shares. _ The number of shares to be fixed by the Articles of the Association as the qualification of a Director is 100. All shareholders holding 1000 shares and upwards shall be Directors ipso facto. The Articles will contain the following provisions for remuneration of Directors:- • "The Chairman of Directors and the Directors shall be paid out of the funds of the Company by way ut: remuneration for their services, such sum per annum as the shareholders in the General Meeting shall' determine and such remuneration shall be divided amongst them in such proportions and manner as the Directors shall determine." "The remuneration of any Managing Director shall be detercuined by the Company in General Meeting." The minimum subscription on the Directors may proceed to allotment is 12,000 shares. The commission payable as brokerage for the subscription- of shares is at the rate of sixpence per share. The estimated amount of preliminary expenses is £IOO exclusive of brokerage on shares. No sum has been paid.or is intended to be paid other .than brokerage upon sale of shares to any person for the promotion of the Company. No Director has any interest in the Company other than such as he acquires by becoming a contributing shareholder. No shares are to-be issued as partly or fully paid up.', . Application for. shares shall be made on the accompanying form and sent together with the amount payable on application (2/6 on each share) to the interim Secretary, - . The following contract which may be deemed to be material has been entered into:-. ' '■ Agreement made this 16th day of. April, 1913, between PETER McOALLUM, of Oamaru,'Timber Merchant, and GEORGE GLEN of Oamaru. Newspaper Proprietor (thereinafter called "the Vendors") of the one part, and Bbeneze* Piper as Trustee for and on behalf of the Company (therein; if ter called the Purchaser) of the other part. Under this agreement the Vendors agree to transfer to the Company the business of the North Otago Times carried on in Oamaru (but not including the Premises and Book Debts) in consideration of the sum of £1,500 The contents of the Memorandum of Association with the names, descriptions, and addresses of the signatories, and the number of shares subscribed for by them respectively are printed on the fold of this Prospectus and.form part thereof, ' . Prospectuses and' Forms of.Application for shares may be obtained at the Office of the Secretary where the Memorandum and Articles of Association and the before mentioned Contract may be inspected-'

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