Bankers : The Union Bank of Australia The Bank of Australasia.

Otago Witness, Issue 1177, 20 June 1874, Page 21

Bankers : The Union Bank of Australia The Bank of Australasia.

Ist. The great want of a thoroughly Colonial Banking Institution for the whole Colony of New Zealand having been long felt, it has been determined by the Provisional Commit* 1 tee to supply the same by plaoing before the I public the present carefully considered scheme, with the full confidence that it will meet with very general support. 2nd. As a first step, it is proyosed to offer to the people of this Colony one-half of the j nominal capital, or 200,000 shares, in fair proportions to each of the Provinces throughi out New Zealand, on the basis of the respective populations of each Province, reserving the other half to be disposed of hereafter, as the rapid progress of the Colony may demand and shareholders may decide ; but in no instance will any of the remaining shares be offered for sale out of the Colony without having been first offered to t'ae colonial holders, nor will any but a New Zealand Register be kept. 3rd. It is intended that the Head Office of the Bank shall be in Dunedin, and that a General Manager of high professional standing shall be appointed to guide the operations of the Bank ; and also, that a Board of qualified Directors shall be elected from among the Committee to advise with the General Manager, and generally watch the interests of the whole Institution. 4th. As soon as a sufficient number of Shares shall have been applied for to' warrant the commencement of business, the Head Office will be opened in Dunedin, in suitable premises already secured under offer, and thereafter branches will gradually be opened in the chief centres of settlement throughout the Colony. sth. It will be the chief aim of the Promoters of this Bank to aid and conserve alike the interests of the whole community in this Colony. The Mercantile, Trading, Pastoral, Agricultural, Mining, Artizan, and Labouring classes will each have fair treatment and support from the Colonial Bank. To the Muring Interest speoial attention will be given, with a desire to acquire for the Minere the Mint value of their Gold, whether in large or small quantities, and until such i value can be ascertained, a liberal advance will be made upon any Gold deposited for the purpose of coinage. 6th. It is not intended by the Promoters that this Bank shall purchase Gold, but merely be prepared to make advances upon it until waliwd, in the uamo manner that ft