Page 13 Advertisements Column 2

Otago Witness, Issue 1383, 1 June 1878, Page 13

MONEY. MONEY TO LEND, in Eums of £100 and upwards, at 8 per cent. Waste Land Board and Laud Office business at/ended &ILLIES, STREET, AND HISLOP, Land and Estate Agents and Auctioneers Bond street, Dunedin. 17m MONEY TO LEND on Freehold . Securities, in Bums of from £1000 to £5000. FRANCIS FULTON, 22s Crawford street, Dunedm. READY TO LEND, SUMS OF MONEY From £10 up to £5,000, On Freehold Security. Transfers prepared, Leases prepared. Communications Vy Post attended to at once. W. DALRY MPL E, Land Agent, Princes street, Dunedin, PROSPECTUSES. mHE COLONIAL INSURANCE COMJL PANY OF NEW ZEALAND (Registered undur the Joint Stock Companies Acts), for FIRE AND MARINE INSURANCE. Capital Two Millions Sterling, In 200,000 Shares of £10 each. Ten shillings por share payable thereon, making £100,000 cash capital. First Issue, 100,000 shares — 2s 6d per shaie, payable on application ; 2a 6.1 upon allotment ; and 5a per share at call, not less than three months after registration. Chief Offices ... ... Wellington. BOARD OF DIRECTORS. - Chairman : The Hon. C. J. PHARAZYN, M.L.C., Chairman Local Board Australian Mutual Provident Society. Vice- Chairman : TheHon, RANDALL JOHNSON, M.L.C., Managing Director Northern Loan and Land Company. JACOB JOSEPH, Esq., Merchant. A. DE B. BRANDON, Esq., M.H.R., Local Director Australian Mutual Provident Society. E. W. MILLS, Esq , Merchant. Tho Hon. M. S. GRACE, M.L.C., Local Direotor Australian Mutual Provident Society. WALTER J. NATHAN, Esq., Merchant. Local Directors— -Oiiristchurch. The Hon. EDWARD RICHARDSON, M.H.R. HENRY W. LEE, Eaq., of Messrs Ward and Co. W. SAUNDERS, Esq., of Messrs Saunders and Henderson. G. W. TURNER, Esq., Merchant. Solicitors : Messrs BRANDON & B OX, Wellington. General Manager : GEORGE SAMUEL GRAHAM, E«q., now Inspector Norwich Union Insurance Company. Bankers : THE BANK OF NEW REALAND. Secretary : For Organisation (and subsequently Agent for Canterbury) Mr FREDK. E. A. GRAHAM. Copias of the Memorandum and Art idea of Association can ba seen at the Office of the Company, aud at any of the Branches of tho Bank of New Zealand, whore Forms of Application can be ebtaiued, and deposits will bo received. The Directors each subscribed for £1000 cash [being part of ordinary capital] prior to the formation of tho Company, and have undertaken its organisation as a thoroughly Colonial institution, with head quai tera in Wellington. One-half only of the shares will be immediately issued, and the Directors, having .already apportioned a considerable number j in securing a large amount of important support, are prepared to place tho available balance in fair proportions throughout the Colony with persons whose business or influence is calculated to be valuable to the Compiny in the mutual interests of all concerned. The Compiny being thus possessed of strong insurance support, and being able to offer the public the guarantee of ample cash capital, with thorough security, will commence business, the whole of the remaining 100,000 shares being reserved for allotment in successive issues to autual insurers with the Company, under the provisions of the Articles of Association, in proportion to the insurance preminms pud by them. The proportion of shares for issue, compared to the amounb of pounds sterling of insurance premiums paid, will be declared from time to time at the discretion of the Directors, sj as to offer a, continuous inducement to iußurer3 to join the Company. Several of the Direct oi shave had experience of the gre it advant igc of mutuality m connection with the most sucsessful L-fs Assurance Asisoeiat'on existing, aii'l, after long consideration, the Board arc s itiaficd that the present pioposal comprehends the moist pr ict'cil embodiment of that principle applicable to Fire and Marine bu-ine s. The Direct >rs a-e fully alive to the importance of considering m the first itllotmcntthc great body of small -naurer^, and they have also deh-riniuod, noUvith tending any pressure, upon maintamiug the chief point of their prop >srtl — viz , th ,t they will keep in hand tho whole of the rerna-ning 100,000 shaivs for future allotment to actual insurers upoa the d-finite and equitable basis above stated, which i.lace 3 all r;uika »>f insurer* upon .m equal footing. r J lie Director have therefore calculated n^o-« t'i f"llov/iug results — viz : J'jiac in<;m-t!iod<if im .go 1 oo"p;tvL "i 1 attach alaige amount of bus ness, au>i ihafc the Company will have the eymjyabhied of the