Prospectus.

Otago Witness, Issue 1179, 4 July 1874, Page 13

Prospectus.

7th. The amount of New Zealand Money in the handa of the three Banks from Australia trading in the Colony on the 31st December last, as shown by their several returns furnished to the Government, appear thus, without giving odd numbers : — Deposits. Circulation. TotaL Union Bank of Australia .. £870,000 .. £123,126 .. £098,485 Bank of New South Wales. 560,000 .. 104,849 .. 064,849 Bank of Australasia .. .. 193,000 .. 88,962 .. 381,962 Showing a total of .. £1,800,236 or nearly two millions of money belonging to colonists, entrusted to Boards of Directors in Melbourne or Syndey to control or manipulate as it may please their tastes, or as it may be convenient for the good of commerce in Victoria or New South Wales, or for the beneficial regulation of their exchange operations in those Colonies. Bth. The Promoters, in placing the foregoing facts before the people of this Colony desire to point out the very great disadvantages that colonists are sure to labour under by lending — or rather giving — such a large Bum of money as stated above to Foreign Banks, to be lent back to the people here at very high rates of interest, and on most arbitrary conditions. They therefore have no hesitation in suggesting the prudence and wisdom of the colo« nists keeping within their own domain the absolute control of their own moneys ; as by so doing they will most effectually destroy the risk of future monetary disturbances, which they have had on more than one occasion to deplore in the past, brought about solely by some crisis that has occurred in one or other of the Australian Colonies, where the real interests of the Foreign Bank most strongly take root. 9th. It has been determined by the Promoters that; the first issue of 200,000 Shares shall be conducted by Committees, to be appointed severally in the chief city in each Province ; and no Shares will be given or reserved to the Promoters; but each member of the Provisional Committee is willing to become a subscriber for the number of Shares standing opposite to his name.* 10th. It is proposed at the issue of Shares above referred to that 5s per Share be paid on Application ; that 10s per Share be paid on Allotment ; that a Call of 5s per Share be made and payable two months after Allotment ; that a Second Call of 53 per Share be made and payable four months after Allotment; and that a Third Call of 5s per Share be made and payable six months after Allotment — making together 30s paid up per Share. No further Call to be made within twelve months of the Bank first commencing business in Dunedin ; after which, future calls will not exceed 5s per Share, nor be made at shorter intervals than three months between each call. 11th. The Act of Incorporation for this Bank will be so framed as to limit the liability of the Shareholders to twice the amount of their Shares, the same as the other Banks. 12th. As a thoroughly Colonial Institution, the Promoters have much pleasure in strongly recommending "Thb Colonial Bank op Nrw Zealand " to the support of all colonists having the real welfare of New Zealand at heart. Such an Institution is much wanted at the present time, and as the development of the Colony proceeds, its usefulness will also increase, and be more and more appreciated, both as an investment for the savings of the people, and as a useful Bank. Judging from the influence and sound experience possessed by the promoting Members of Committee, it is certain that no similar Institution has ever yet been launched in the Southern Hemisphere under better auspices. Applications for Shares will now be received at the Temporary Offices of the Bank, High street (late Club), where Forms of Application and full information can be obtained. FORM OF APPLICATION FOR SHARES. Date 1874. TO THE PROVISIONAL COMMITTEE OF THE COLONIAL BANK OF NEW ZEALAND. Gentlemen — I hereby make application for Shares in the above Company ; and hand you herewith the sum of £ , being the amount of Five Shillings per Share deposit on the same ; and I agree to take the said Shares, or any less number that may be allotted to me ; and I further agree to subscribe to the Articles of Association when required to do so. I am, Gentlemen, Yours truly, Signature Name mfull Occupation Address No. Date received. * The Provisional Committee have already subscribed among themselves for 25,475 Shares, which they are prepared to take if allotted to them. The enterprising wife of a settler in the Clutha district has lately made the discovery that a small quantity of whiskey mixed with the bran she feeds her hens with, and administered immediately before they go to roost, enables them to continue laying without interruption during the frosty weather. Does this come within the range of th« whisky war era !