Page 5 Advertisements Column 5

Otago Daily Times, Issue 15788, 12 June 1913, Page 5

inquire into the Casein Industry, he also devoted tome time to matters connected with tho production of Milk Sugar, having visited some of tho fac.torics for' that purpose." Tho quantity of whey at present contracted for is approximately 13,000 gallons per day, but, if required, the Vendors have no doubt that more whey could bo obtained from adjacent cheese factories. The prico of coal mentioned is now 7s 9d per ton. GENERAL Recognising tho immense possibilities of profits in this Company, the Vendors aro not desirous of disposing of their Vendor shares, and have agreed to retain 75 per cent, of such shares until 6uch time as tho whole amount subscribed in the first issue has been returned to the Shareholders by way of dividends. Furthermore, the Vendors have also signed an agreement not to beoomc dirootly or indirectly interested in any other Company connccted with the Milk By-products Industry during the 28 years tho_ options are in force; consequently, their knowledge of the Milk By-products Industry wili always be used in tho interest, of and for the success of this Company. Tho Vendors, who. aro the only promoters of tho Company, are John Gerrie Neil onet Peter Francis Finlayson, whose respective addresses are set forth in the list of the Provisional Directors.

The Provisional Directors named and described in this Prospectus are tho " proposed" Directors within the meaning of "The Companies Act, 1908."

The Vendors are interested in equal share'- in tho properties to be acquired by the Company, and none of the proposed Directors, other than the Vendors, are interested in any of tho 6aid properties. The consideration, as fixed by tho Vendors, for the sale of the said options, letters patcntj and other rights is the sum of £5500, which is to bo paid and satisfied as follows:—

By a payment in cash of £500 when and so soon as the Registrar of Joint Stock Companies lias certified that the Company ia entitled to commence business within tho meaning of Section 99 of "The Companies Act, 1908,"; and by the allotment and issue of 5000 ordinary shares in the Capital of the Company and fully paid-up to the Vendors m the following proportions2soo shares to the said John Gerrie Neil and 2500 shares to Me said Peter Francis Finlayson.

The contract for tho salo of tho said options, letters patent, and other rights specified above is dated tho 3rd day of June. 1913, and is made between the said John Gerrie Neil and the said Peter Francis Finlayson of' the one part, ...and William Roy Macdonald. of Dunedin, clerk, as Trustee for tho Company of tho other part.

The following are the provisions in tn« Articles of Association relating to tho qualification and remuneration of Directors

The qualification of a Director shall be tho holding in his own right and. as sole holder of shares of the Company to the jiominal valuo of ■ not less than £100, but this clause shall not apply to any of the Directors named in clauso 88 hereof who is a Vendor to the Company. A Director may act before acquiring his qualification, but shall in any case acquire his qualification within one month of being appointed a director. The said John Gerrie Neil shall be entitled so long as he shall bo the holder of 1000 shares in tho Company, to continuo a Director without further election or further appointment, and while he shall remain tho holder of 1000 shares in the Company the' provisions'hereinafter contained with regard to the retirement of Directors by rota-' t.ion shall not apply to the said John Gerrio Neil; and the said Peter Francis Finlayson shall be entitled so long at. he shall hn tho holder of 1000 shares in the Company to continuo a Director without further election or further appointment, and while ho shall remain the holder of 1000 shares in the Company the provisions hereinafter contained with regard to the retirement of Directors by rotation eha-11. not apply to the said Peter Francis Finlayson. . The remuneration of the Directorate shall be at the rate of £100 per annum, or at such other rates as the Company by Extraordinary Resolution may from time to time fix at a General Mec-ting, and such remuneration shall be divided amonu them in such proportions and in 6uch manner as they shall agree, or, in default of agreement, equally; any Director who shall not have served during the whole period for which the .remuneration is payable receiving, however, only an amount proportioned to tho time served by him. While Neil and Finlayson are Chemical Director and Managing Director respectively they do not participate in anv Directors' fees.

The Hew Zealand Sugar of Mill! & Casein Co. Ltd, (To be incorporated under " The Companies' Act, 1908") Application for Shares. TO THE PROVISIONAL DIRECTORS, 15 STOCK EXCHANGE BUILDINGS, DUNEDIN. Gkntlemen, Enclosed please 'find t [or] Having paid to your Bankers I 10 sum 0 135 a deposit of 2/6 per Share on application for Shares in the above-mentioned Company, I hereby request you to allot me that number of Shares upon the terms of the Prospectus'of the Company, dated the 10th June 1913 and of the Memorandum and Articles of Association of the Company; and I authorise you, on the incorporation of the Company, to transfer the said deposit and the benefit of this application to the Company, so that it may adopt the same and allot the Shares to me, and I hereby agree to accept such Shares or any smaller number you may allot to me, and to pay 2/6 per Share on allotment and the balance as provided by the said Prospectus, and I authorise you to procure ine to he registered as the holder of the said Shares. !Name (in full) (Please stato if Mr, Mrs, or Miss) ' Full Postal Address . Occupation ' Date y bignature