Page 1 Advertisements Column 5

New Zealand Herald, Volume XII, Issue 4296, 20 August 1875, Page 1

Public Companies. ItOSPECTUS. THE LOAN & INVESTMENT COMPANY OF NEW ZEALAND (LIMITED). Chief OPTICe : CDBISTCHURCH. Ultimate Capital: £600,000 is £20 Shades. PROVISIONAL DIRECTORS: . Messrs. George Gould, Christchurch Andrew Duncan, Christchurch P. Cunningham {P. Cunningham 4 Co., Chriatchurch) F. J. Garrick 'Garrick & Cowlisha*), Christ church F. E. A. Graham, Christchurch George Hart. Christchurch Phillip Hanmer (Hanmer & Harper}, Christchurch John IngUs(Matheson's Agency), Christchurch Patrick Laurie, Christchurch R. M. Morten, Christchurch Thomas W. Maud'', Christchurch "\V. N. Milton, Christchurch L E. Nathan (L. E. Nathan & Co.), Christchurch The ffon. J. T. Peacock, Christchurch Dr. H. H. Prins, Christchurch Messrs. B. C. J. Stereos (Hannan & Stevens), Christchurch George G. Stead (Royse, Stead &Co), Christchurch C. W. Turner, Christchurch C. F. Todhunter (Vincent & Co.), Christchurch Robert Wilkin. Christchurch J. B. "Way, Christchurch W. D. Wood, Christchurch With power to add to their number. Trustees and Auditors: To be elected at tho first general meeting, together with the permanent Directors. Secretary rito tkm.: Fredk. E. A. Graham. Bankers: The National Bank of New Zealand (Limited). First Issue—£2oo,ooo, in 10,000 Original Shares. To be incorporatcl under the Joint Stock Companies Acts, with limited liability, and with power to increase. The amount called up will be £5 per share, payable as follows:—ss on appllcatiou, 5s on allotment, and in calls not exceeding 5s per share, at intervals of not less than one month, unless decided otherwiso by general meeting. Pre-payraent will be accepted on such terras as tho Directors may from time to time determine. The preferential right is reserved to the holders of the original shares to subseribo for an equal number, which may be issued, if desirable, upon the increase of business, but only at such dates and upon affh terms as to premium, Jcc., as may be fixed by gentra! meeting of the shareholders. The remaining 10,000 shares are intended to be offered in London. The Company is established not only for transacting the ordinary business of Loan Companies with respect to landed property, but also with a view to making advances repayable by instalments* as in Building Associations, a style of advance profitable, and also safe, by reason of tho gradual reduction of the loan. That there is ample room for tho present Company, without interference with existing institutions, is shrwn by tho fact that the latter are unable to supply the increasing demand for money at advancing rates. Tho further objects of this Company are to receive moneys at Interest on deposit and by the issue of debentures. Tho principle of the payment of capital by moderate instalments is adopted as providing for the gradual progress of business, ar.d as forming a convenient mode of investment of shareholders. It is somewhat singular that no organisation has hitherto been formed in the Province of Canterbury, suitable alike for large as well as for small investors, and yet the latter have by association in Building Societies, under many disadvantages, achieved more profitable result" than the largest Individual capitalists. Such societies, however, while of great service in promoting settlement and being at the same time souices of considerable profit to investors, are open to various objections. Iho shares are of uncertain value and unmarketable in their nature. Investors who may be desirous of realising are met with the difficulty caused by tho absence of a standard market value, and consequently are compelled either to hold or perhaps to quit at a loss. The advances arc almost confined to town property and are upon the principle of gradual repayment only: while the security of rural land is usually preferred by investors, and many borrowers desire terms of two years and upwards. It may also be hire mentioned that the latter stylo of advance In fixed sums under £300 (which commands tho highest rato of interest) is not usually undertaken by the Loan Companies hereafter referred to. While the adoption of gradual payments of share capital will enable those persons who have hitherto invested only in BniWUng Societies to join this Company, thero are many persons in the community whose means permit of their investing larger amounts, and to whom, therefore, this Company will commend itself as placing their capital upon a convenient and readily realisable basis, free from trouble in mauagment ana delay In investment. .. .. In the receipts of deposits at interest, and in the issue of debentures, this company affording, as it will, thorough security with the roostjeonvenient arrangements, m*y confidently expect public support. Perhaps it is unnecessary to dwell upon the safe and profitable nature of loan business, particularly in the Province of Canterbuiy : the following information (taken from tho latest issue of Westgarth's 41 Cclonjal Securities Circular," dated London, 11th June, l&io) will, however, exhibit the prosperity of the two Companies in business here. Now Zealand Trust and Loan Company (Linutea)Nomlnal capital. £. r »00.0 0; paid-up, £100,000. Shares —Nominal amount, £25; paid-up. £5. Value-£7_6s to £7 15s. Shares on London Register. £442.1*5. Average dividend per annum during last tea halfyears, 10 per cent.; reserve fund, £42,000. Trust and Agency of Australasia (Limited)— Nominal capital, £500,000; piid-up, £50,000 {and £1G3,000 at 0 per cent, preferential interest only). SharesNominal amount. £10; paid-up, £1. Value, £1 15s to £2 ss. Shares on London Register, all. Average dividend on original shares during last ten half-years, 20 percent per annum: reserve fund, £50.000. As shewn by the largo sums of undivided profits, wisely reserved, the aclual rates per cent, per annum earned by the abovo Companies have considerably exceeded the dividends declared. The Provisional Directors anticipate that, with the advantages of local influence and an increasing field for investment, a fair measure of success may also be enjoyed by this Company, and its original shares become highly valued. The working expenses will be adapted to a growing business, and based upon the lowest scale consistent with efficiency. Tho evident opening for a locftl institution of a more convenient nature than thoso existing, calculated to combino tho advantages before st»ted, and to admit of any expansion which may be found suitable, has decided the Provision*! Directors in undertaking its formation. Deposits on any applications for shares not allotted will bo returned In full. Applications, with deposits, will bo Teceived at.the various branches *f tho National Bank of New Zealand (Limited); or by A» kxander Saunders, Sharebioker. 2, Insurance Buildings, Queen-street. Banks. SAVINGS BANK. ' ESTABLISHED IX 15-17. President: His Excellency tub Governor Vice-President: C. Wilsoh, ESQ. The Bank Is open for Receipts and Payments Monday from 12 to 2 o'clock ToiHDtr •• •• •• litto ditto Wkdnrhday ditto ditto Tuursday .. .. .. ditto ditto Friday .. .. .. ditto ditto And to receive Money only on SATUEDAY EVENINGS, from 7 to 9 o'clock. Any snm from One Shilling and upwards received for whloh 5 per cent, interest is allowed, R. CAMERON, Accounvant. ExhibitionsAuckland poultry association AND DOG SHOW. The First Annual Exhibition will be held at-the Market-house on FRIDAY and SATUKDAY, 10th and Uth September. . . . When upwards of £150 will be given In prixes. For lurther particulars see handbills. N B.—E*uul*tlon 2 In Handbills: instead of " 1 Cock 2* hen*," read " 1 Ccck 1 hen." WM. FEBCIVAL, Secretary.