BANK AT THE BAY OF ISLANDS.

New Zealand Gazette and Wellington Spectator, Volume I, Issue 4, 2 May 1840, Page 3

BANK AT THE BAY OF ISLANDS.

A general meeting was held there on the 18th February, at which the following resolutions were passed. 1 . Moved by Henry Thompson ; Esq. ; seconded by William Wilson, Esq. : — " That in the opinion of this Meeting, the necessity of a Banking Establishment has for some time existed, and that from the increasing population, and rising prosperity of New Zealand generally, and of the Bay of Islands in particular, the formation of such an Establishment is now imperatively called for." 2. Moved by Alexander M'Gregor, Esq. ; seconded by Charles B. Brewer, Esq. : — "That a Bank be established, to be called the New Zealand Banking Company, with a Capital of £50,000, in 5000 shares of £10 each ; 3000 shares to be disposed of in New Zealand, and the remaining 2000 to be reserved for the Sydney market." 3. Moved by Charles B. Brewer, Esq. ; seconded by William M'Donald, Esq. : — " That a Provisional Committee be appointed, composed of 13 Members, 9 to form a quorum, with power to add to the numbers, which shall be entrusted with all the preliminary arrangements of forming the New Zealand Banking Company, and that the Shareholders shall be bound by their arrangements." 4. Moved by Alexander M'Gregor, Esq. ; seconded by George Russell, Esq. : — " That no other restrictions, than the necessity of giving notice of sale, should be imposed upon the disposal pf shares in the New Zealand Banking Company." 5. Moved by John Kelly, Esq. ; seconded by Francis Hodgkinson, Esq :—: — " That a list of shareholders shall be opened, and each person on signing his name shall deposit as a security, one shilling per share with the Secretary of the Provisional Committe, and that the funds produced by these deposits shall go towards defraying the expenses incidental to the formation of the New Zealand Banking Company." 6. Moved by John Scott, Esq. ; seconded by A. M' Gregor, Esq : — " That the Share List shall remain open one month only, unless it shall seem necessary to the Provisional Committee to extend the time." Moved by Henry Thompson, Esq. ; seconded by William Butler, Esq. : — " That one pound per share deposit shall be paid on the day after the allotment of the shares ; that a call of one pound per share shall be made in six months, of which due notice shall be given ; and that to prevent monopoly, no person shall hold more than one hundred shares." 8. Moved by Thomas Chaplin, Esq.; seconded by John Weavell, Esq. : — " That the following Gentlemen be appointed Members of the Provisional Committee: — Messrs. John Scott, Henry Thompson, Alex. M'Gregor, Francis Hodgkinson, J. A. Deivanchelle, George Russell, William Wilson, Thomas Spicer, Charles B. Brewer, William Macdonald, John Johnston, William Butler, Daniel Pollen, C. T. Clayton."

The following appeared as an advertisement in the Sydney papers of the 17th March

and shows how ready capitalists are there to become shareholders in Banks, provided it can be shewn that they present a reasonable prospect of success : — " The 2000 shares reserved for Sydney, having been all suebscribed for in the short space of two days, and applications for upwards of 2000 shares more having been made, Mr. Henry Thompson deems it advisable to open a list for applications for shares ,in the Bank — which list he will on his return to the Bay, lay before a general Meeting of the Subscribers in New Zealand, with a recommendation to extend the number of shares in the Company to 10,000 instead of 5,000. Mr. Thompson, however, does not guarantee to the applicants that they will obtain the shares, or any portiou of the shares for which they apply. The list will be open this day for applications, at the Office of the Sydney Banking Company. — Henry Thompson, Agent to the New Zealand Banking Company."