Page 3 Advertisements Column 2

New Zealand Herald, Volume XXII, Issue 7415, 25 August 1885, Page 3

Prospectus. _ " T>ANNER OF FREEDOM" NEWSX) PAPER. Provisional Directobs : John Buchantn. Esq. Joseph Newman, Esq. David Goldie, Esq. J. T. Garl ok, Esq. John Weymouth, Esq. Richsrd Mouk. Esq. C. G. Hill, Esq. G. T. Keetley, Esq. Major Lane R. Fry, Esq. " J. W. Carr, Esq. Alfred • ox, Esq. J. L. I bottom, Esq. ; Robert Ne»l, Esq. J. Fowler, Esq. Jamos Ad*mi, Esq. Several of our citizens interested In social reform have lately expr.ssed their desre to have a journal .In which the Christian and Temperance Work ro*y have a predominance, together with such other Intelligence as may be conducive to the well-being of the Community. I - It is now proposed to issue a weekly paper, to be entitled the Banner of Freedom" (or such other name as may be determined at first meeting of Shareholders). It is tho ght desirable to form a Joint Stock Com pany (Liml tad). And to obtain as many shareholder* as possible all parts of Mew Zealand. The Capital will be £5000 In 5000 Shares or fil each —Is on application, It on allotment, ami is per share i an interval of not less than three months. A Already 1150 Shares have been pplied for. and It Is thought desirable that not less than 2000 »h<mld be taken up before the first meeting of Shareholders la convened. Applications for Shares will be received by Mr. A. Cox, Secretary pro tem, Coombes' Arcade, or any of the Provisional Directors. - The first meeting of Shareholders will be convened for TUKBDAY, Ist September, at three m. in the Temperance Hall (Albert-street;, to adopt Rules, elect Directors, etc. THE NEW ZEALAND CO OPERATIVE LAND AM> LABOUR COMPANY (LIMITED). REGISTERED UNDER THE JOINT STOCK COMPANIES* ACT. Capital £29,000, 15 20,000 Shirks of £1 Each. Bankers : THE BANK OF NEW ZEALAND. EXECUTIVE COMMITTEE : Mb. Waddil Mr. Mats (Mayor of Auckland) Mr. Ghahsm «b. t'ooria ( vfayor of Hamilton) KIT. W. T»»BS MS. K«»S Mil Gold e Mr. Odthwaitb Hon. W Swansox Ma. Mi mtord Mr. Oarhktt Mb. Duknisohak Mb. Jurt Major Gr<sn Mr Jxune Mb. Thorns MB- Grant MR. PeacockO Mr. Wrioht PROSPECTUS. This Company is founded— To make producers capitalists and consumers partners under the Joint Stock system in the property and wealth produced, whether that property and* wealth consist In the p oduca of the soil and manufscture on the one hand, or on the other, of land and the instruments of manufacture and production. The persons who invest money and proride for the purposes of the Company, will reoelve Interest upon their money and a share in the profits arising from thi Company's transactions, both In money and value. The workers of whatever class employed, directly or lndliectly, by the Company will be entit ed, besides their wages, to a share In the profits of the Company, as above. And the purchasers and consumers will also be entitled, besides the goods so purchas-d > by them, to a share in the same way of the Company's profits. It is deemed wiser to issue all shares fully piid up, became the making of and suing for calls often occasions annoyance and inconvenience to shareholders ; while the fotfeiture of shares consequent npon non-payment of calls, take away the capital already i"*estjd by the shareholder without any remunerati n. But the Directors will receive deposits from intending shareholders, in sums of two shillings and sixpence and upward,,, as may suit the convenience of all depos'tori, and such sums when amounting to one pound will entitle ihe depositor to become a shareholder and receive a share. Every ap.licant for shares will thus upon the deposit of two shillings and sixpence per share, be entitled to have ruch shares held for him till the first day of March. ISS6. at or before which time, it he intends to retain such shares, he must complete the full p»yment of one pound par share. If he do not so complete the payment for all, then he will receive as many shares as his deposit fully covers, and tho balance will be thrown open f r other persons. Whatever the amount of the deposit, the depositor will be entitled to receive either shares or goods from the Company's Stores to the value of his deposit, and all shareholders will be entitled to purchase on the credit of his shares to the amount of seventy-five per cent. in value. All shares first issued or taken up to the amount of £5000 will bear a preferential dividend. Thus the first £5000 will bear a preferential dividend of £1 per cent, over the second, £2 percent, over the third, and so on. The second issue of 5000 shares will bear a preferential dividend of £1 per cent, over the thirl, and so on. After the issue of 20,000 shares, each Issue up to 60.000 will consist of 10,00.', and thence to one hundred thousand of twenty thousand each. After one hundred thousand have been issued, the preferential dividend will be one-half per cent, and the issues will be fifty thousand until altered by the Central Board of Directors. Shareholders purchasing shares will be entitled, besides their share of the profits, to Interest at the rate of £10 per c*nt. per annum upon the amount of shares paid for by them. This, however, will onlf hold good on the first 20,000 shares issued, after which and up to £60,000. 7J per cent, interest will be allowed. From 60,000 to £100,000, 5 per cent., and above that as may be decUed by a general meeting of shareholders. It is Intended to form districts in all centres of population In the colony. In which local Boards of Directors will be elected by local shareholders to conduct and manage local business of all descriptions. In all communities ther-< are two sources of profits. One arises from cash profits of the year—the other arises from tho improvements, such as buildings, fences, plantations, stocks in-trade, waste lands re:)aimed, increase of flocks and herd*, Sc., and from the unearned increment of land. Both these would be divided among paying shareholders, workmen, and customers, in exact proportion to th« money, work, end purchases respectively, of the different indivi luals. .... The yearly cash profits will be divided in cash as dividends. Tho increased value will be divided every three yesrs in shares, which will bear dividends, bat which cannot be sold or parted with for ten years from date of issue. A reserve fund, however, of ten per cent will be kept for various purposes. Besides the large interest of ten per cant, per annum, the first Issues of shares will be entitled to preference dividends over shares taken up afterwards. Thus every increase to the Company's capital and property will make the first shares more valu ble. Tuts Company off rs greater advantages than any other Co-Operative Society, or Savings' Bank, or Joint Stock Company- Co-operative Societies are generally formed under the Friendly Societies' Act", In those Societies, therefore, although the depositors are entitled to interest and are enabled to give a bonus to all iurcbasers,yet the profits cannot be distributed, bec<use thrre are no shareholders. At this time the Co-Operative Societies in E gland have Immense sums of surplus profits, which they cannot divide, nor profitably use. «o in Savings' Banks : the dopositort receive five per cent. interest; but great profits are made b»yond interest, which belong to nobody. The Auckland Savings' Bank has made feat profits out of the money of the people, and yet the Depositors cannot touoh those profits. In the Government Post Office Savings' Bank the Depositors are in exact 1» the same position. Nor are the monies so deposited Invested for the employment or personal benefit of tha Depositors. Ordinary Joint-Stock Companies are monopolies, pure and simple; and the pr >ots made out of the labour of the workmen by the assistance of the pur* chaser, all go to the capitalist. This Company joins the best principles of all the three other institutions - and adds to them many advantages which no other plan has ever presented. This Company accomplishes the objects f«*r which all Trade and Labour and Aid and Friendly Societies are established, Infinitely better than the organisations now existing. 'J rades and Labour Unions are formed to support men on strike, and for purposes of mutual defence. When strike* occur, great sums of money are spent, and trade is injured. This Company, with the workmen's money, will give employment to all out of work; and Instead of keeping men in idleness, will keep them in profitable employment, and render labour the partner of capital. T rough this Company the labourer will thus became bis own e„ pi yer, on his own land, and in bis own workshops of evpry kind. The Depositor will, beside his intorest, obtain his share of the profits of each year, and the increasing value of the Company's property. Friendly Societies would give employment, and get a first class investment for their common funds, besides Increasing them in amount. At a meeting of Shareholders on May 21st, 1885, it was agreed that Mr. Reus, for having formed the plan of the Association, and for promo'init the interests of the Company by lecturing, Ac., should receive 1000 shares, and 10 per cent, of the shares issued up to 20,000, TJ per cent, of ►hare* up to 100,000, and 5 per cent, on lssne In excess of 100,000. It has, however, bean finally agreed between the Executive Committee and Mr. Rees that he shall give his entire time and services to the Company, and after the issue of the first One Hundred Thousand Shares. Mr. Bees shall receive at the rate of t«o per cent, in shares, but if the local directors in various localities place any shares throngh other agencies, Mr. Rees shall for such sbares be entitled only to one prr cent, of shares. Mr. **ees to pay all his personal and travelling expenses, 11. Is intended, when the Company is in full working order in New Zealand, that Mr. Hees ah-11 proceed to England to obtain assistance and support there, both in people and money. An account will be opened In the Auckland Savings Bank in the names of W. R. Waddel, Theo. C oper, and C. S, Wright, as Trustees, into which all deposits can be paid. Pass books will be given to intending shareholders on application at the temporary office of the Company, 116, Queen-street, Auckland. Shares can be applied for at the temporary Office of the Company, where all information can be obtained. All applications for shares must be accompanied by a Post Office order or crossed cheque payable to the above trustees, and state the number of shares. The first issue of five thousand shares has been disposed of, and applications for the other issues up to twenty thousand shares will clow on the Isth of September, proximo. By order of the Committee. W. L. REES. Insurance Companies UNITED FIRE AND MARINE INU SURANCE COMPANY. The undersigned is prepared to offer special Inducements to insurers. RISKS takes at LOWER KATES than heretofore and LOSSES PAID PROMPTLY. ART. HEATHER, Agent. Lower Quean-street. - PH(ENIX FIRE OFFICE OF LONDON. Ehta»lismb» 1782 (Over 104 years). This oM-sstibllshed Company is prepared to undertake Kiro Insurance business of every description, and guarantees to its clients absolute Socurity. Liberal eras and promptitude in all its settlements. HENDERSON * MACFARLANE, Rents, Fort-itroet.