Page 1 Advertisements Column 5

New Zealand Herald, Volume XII, Issue 4298, 23 August 1875, Page 1

Public Companies. X> ROSPECTUS. THE LOAN & INVESTMENT COMPANY OF NEW ZEALAND (LIMITED). CniEr Office: CHRISTCHURCH. Ultimate Cai-ital : £000,000 in £20 Shares. PROVISIONAL DIRECTORS: Messrs. G orgo Gould, Chrlstchurch Andrew Duncan, Christchurch P. Cunningham (P. Cunningham * Co., Christchurch) F. J. Garrick (Garrick & Cowlishaw), Christ church F. E. A. Graham, Christchurch George Hart, Christchurch Phillip Haumcr (Hanmcr & Harper), Christchurch John Inglis(Matheson's Agency),Christchurch Patrick Laurio, Christchurch R. M. Morten. Christchurch Thomas W. Maude, Christchurch W. N. Milton, Christchurch L. E. Nathan (L. E. Nathan * Co.), Christchurrh Tho Hon. J. T. Peacock, Christchurch Dr. 11. 11. Prins. Christchurch Messrs. E. C. J. Stevens (Harman & Stevens), Christchurch George O. Stead (Royse, Stead 4 Co.), Christchareh C. W. Turner, Christchurch C. F. Todhnnter (Vincent or Co.), Christchurcb Robert Wilkin. Christchurch J. B. Way, Christchurch W. D. Wood, Christchurch With power to add to their number. Trustees and Auditors: To bo elected at the first general meeting, together with the permanent Directors. Secretary fro t»m.: Fredk. E. A. Graham. Bankers : The National Pank of New Zealand (Limited). First Issue— £M! 0,000. in 10,000 Original Shares. To be incorporate 1 under the Joint Stcck Companies Acts, with limited liability, and with power to increase. The amonnt called up will be £5 per share, payable as follows:—ss on applicatiou, 5s on allotment, and in calls not exceeding 5s per share, at intervals of not less than one month, unless decided otherwise by general mcoting. Prepayment will be accepted on such terms as the Directors may from time to timo determine. The preferential right is reserved to the holders of the original shares to sitbscribe for an equal number, which may be issued, if desirable, upon the Increaso of business, but only at such dates and upon such terms as to premium, &c., as may be fixed by general meeting of tho sharehold- rs. Tho remaining 10,000 shares are intended to bo oUerod 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 stylo of advance profitable, and also safe, by reason of the gradual reduction of the loan. That there Is ample room for the present Company, without interference with existing institutions, is shewn by the fact that the latter are unable to supply the increasing demand for money at advancing rat*s. Tho further objects of this Company are to receivo moneys at interest on deposit and by the issue of debentures. The principle of the payment of capital by moderate instalments is adopted as providing for the gradual progress of business, and as forming a convenient mode of investment of shareholders. It Is somewhat singular that no organisation hai hitherto been formod in the Provinco of Canterbury, suitable alike for large as well as for small investors, and yet the latter have hy 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 tho same time somces of con'iih rable profit lo investors, are open to various objections. Ihe shares arc of uncertain vab-e and unmarketable in their nature. Investors who may ho desirous of realising are met with the difficulty caused by the absenc-r of a standard market value, and conscqucntlv are compelled either to hold or perhaps to quit at a loss. The advances are almost coi fined to town properti, and arc upon the prlnciplo of gradual repayment only: while the security of rural land is usually preferred by investor', and many borrowers desire fixed terms of two years and upwards. It may also b» here mentioned that tho latter style of advance In fixed sums under £300 (which commands the highest rate of interest) is not usually undertaken bv the Loan Companies here.ifter referred to. "While the adoption of giadual payments of sharo capital will enable those persons who have hitherto invested only In Bnlkling So.'ietlcs 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, freo from trouble in managment and delay in investment. In tho receipts of deposits al interest, and In the issue of debentures, this company affording, as it will, thorough sornrity with the mostlconvonient arrangements, m»y confidently expect public support. Perhaps it is unnecessary lodwell upon thesa o and profitable nature of loan business, particularly in the i rnvlnea of Canterbury : the following information (taken from the latest ssue of Wcstcarth's " Colonial Securities Circular," dated London. 11th Juno, IS|5) will.however, exhibit the prosperity of the two Companies in business here. New Zealand Trust and Loan Company (Limited)Nominal capital, £500.0 0: paid-up, £100,000. Shares —Nominal amount, £25: paid-up. £5. Valne-£7 5s to £7 15s. Shares on London Register. £442.175. Average divid- nd per annum during last ten halfyears, 10 per cent ; reserve fund, £42,000. Trust and Agency of Australasia (Limited)— Nominal capital, £500,000: p ild-up, £30,000 (and £103,000 at G per cent, preferential interest only). SharesNominal amount. £10; paid-up, £1. Value, £1 15s to £2 ss. Shares on London Register, all. Aver«e dividend on original shares during last ten half-years, 20 percent per annum: reserve fund, £50.000. As shewn by tho largo sums of undivided profits, wisely reserved, the actual rates per cent, per annum cimed by the above Companies have considerably exce. ded the dividends declared. The Provisional Direetors anticipate that, with tho advantages of local influence and an increasing field for investment, a fair measure of success may also he enjoyed by this Company, and its original shares become highly valued. Tho working expenses will be adapted to a growing husiness, and bas:d upon tho lowest scale con'istcnt with efficiency. Tho evident opening for a local institution of a more convenient nature than those existing, calculated to combine the advar.t ices before st'itcd, and to admit of any expansion which may bo 1 suitable, has decider! the Provisional Directors in undertaking its formation. . ~,,,, Deposits on any applications for shares not allotted will bo returned in full. Applications, with deposits, will bo received at the various branches . f tho National Bank of New Zealand (I.imttod): or by At kxanderSaonpers, sharebroker, 2, Insurance Buildings, Queen-street. Banks. A UCKLAND SAVINGS BANK. ESTABLISHED IN 1547. President: His EXCEIXKNCY TUE GOVERNOR Vice-President: W. C. Wit-sin, Esq. The Bank Is open for Receipts and Payments :- Monday from I 2 to 2 o'clock Jitto ditto Wednesday ditto ditto Thursday .. .. .. ditto ditto Friday ditto ditto And to receive Money only on SATURDAY EVENINGS, from 7 to 9 o'clock. Any sum from One Shilling and upwards received for which 5 per cent, interest is allowed, R. CAMERON, Accountant. EcclesiasticalST. SEPULCHRE'S, Symonds-strcet.— Tenth Anniversary, FRIDAY, August 27th. Divine Service. 8 a.m.: Evensong and Sermon by Rev. A. R. Tomlinson, 7 pm. YOUNG MEN'S CHRISTIAN ASSOCIATION. NOON-DAY PRAYER-MEETING at School-roem. High-street, near Durham-street, 12 to 12.45, Saturdays excepted. All are iuvited.