Page 3 Advertisements Column 6

Timaru Herald, Volume XLVIII, Issue 4527, 30 April 1889, Page 3

' J'rosprrtK.s. THE MERCANTILE FINANCE AND * AGttNOY COMPANY (Limitjbp) OP ■c CHRIBTCHUHCH. Incorporited under the Companies Act 1882, whereby the liability of a Shareholder is limited to 'he amount of his Sharos. CAPITAL, £230.000. IN 50,000 SHARES OF £5 EACH. First IBsue 25,030 Sharoa of £5 each. Five shillings per share payable on appli- ] cation, five shillings per share on allotment, . live shillings m three months from date ot I ullotmont, and fivo shillings m bii months. , Further calls will not exceed ten shillings per , share, at intervals of not leßs than three t months between each call, and none will be made until the Company has been m existence* twelve months. THE Directors and others connected with the Company have Subscribed for 4,000 Shares, which they claim to have allotted iv full, leaving 21,000 Sharos of the first issue for wmch applications are now invited. Any i itsue of the Reserved Shares will bo subject to such premium or conditions as may be determined by the Company m General Meeting. PROVISIONAL DIRECTOBS : ASDEEV W. 81-THEBFOED, of Amuri, Sheep Farmer William Recce, of Chrißtchurcb, Ironmonger Samuel Mannixg, of Ohrißtchureh, Gentleman A. W. Bennetts, of Christchurch, Auctioneer Benjamin Hale, of Christchurch, Imporler John Tbbhas Bell, of Christchurch, Estate Agent Geoeoe Ham, J.P., of Christchurch, Stockowncr HENiir Layiok Bowkeb, of Christchurch, Estate Agent MANAGER AND SOLICITOE .- T. G. Bussbll, Morten's Buildings, Cathedral Square BANKEES : Tub Colonial Bank of New Zealand, Chbißtciiuecii. BROKER : James Hbndeeson, 178, Hereford 1 treol, Christchurch PEOSPEOTUB. This Company is formed for the purpoFcof purchasing the business now carried on by tho Mercantile Finance Company, JAmiM, of Chrifltehurch, (hereinafter called the Vendor Company) whoso operations have beon Mtlendtd with great success ; the Shareholders having received dividends for the last eighteen months at the rate of 20 per cent per annum, after allowing for bad and doubtful debts, and carrying forwurd undivided proiits amounting to £1.229 16s 3d. O w ; ng Lowever to tho steady expansion of business it is found that the present capital is altogether inadequate. Tho Vendor Company has power under its Articles of Association to increase its capital, hut after careful consideration it has been determined not to adopt that course as being unfair to its Shareholders, some of whom upon their one pound chares paid a premium of 15s, consequently if tho capital wer B increased by mere allotment of additional Bbarcs these premiums would necessarily be lost. It has therefore been decided to form a New Company upon the following terms ; Tho Vendor Company to receive the sum of £2000 m cash, and m consideration of this sum, will transfer the whole of its current busineßß, securities and contracts. The new Company will immediately acquire business which even if not increased will ensure a dividend on tbe capital propoeed to be called up (£25,000) of 10 per cent per annum, after providing a fund to meet bad and doubtful debts. But from present appearances there is every reason to believe that wilhin a shorL time the business will bo quadrupled. Tho existing Securities, amounting to £39,327, have been carefully gone into by two gentlemen of wide and varied practical experience (Mr C. Whitefoord, R.M., and Mr H. J. Hall, sheepfarmer, of Iceston and Motunau) whose report of a most satisfactory character rim bo perused by intending applicants for shares, at tho offices of the Company's broker. The Vendor Company will bear one-half tbo expense incurred m transferring the existing securities to tho new Company. The following agreements have been mad", dated 15th March, 1889, which can be seen at tho officea of the Compuuy's eolicitor, and subscribers for Shareß will bo deemed to have notice ot tho contents thereof, namely : (1.) Between tho Vendor Company of the ono part ond Thomas Walter Stringer on behalf of the new Company of tho other part, for the Balo und purchaso of tho busineßß as aforesaid. (2.) Between the Vendor Company and James Henderson and Thomoß Walter Stringer, on bohalf of th new Company /<■ Brokerage Fees. No application for less than Ten Bharcs will bo ontortnincd, and if no allotment h mado tbe deposit, will bo returned without deduction. Forms of Application can be obtained from any of tho Provisional Directors or nt any of the Branches of tho Colonial Bank of New Zealand throughout tho Colony, also from David Thomas, Esq., Ashburton ; T. W. Durunt., Esq., Leeston ; J. W. White, Epq., Solicitor, Timnruj T. G. Eubbcll, Heii., Solicitor, Cbrietchun/h. Or from JAMES HENDERSON, Broker to tho Company, 178, Hereford Street, Chrißtchurch. Or from J. W. WHITE, Tho Company's Solicitor for South Canterbury. N.Jtt . and. A.. Company. GRAIN SEASON, 1881). The National Mortgacfo andi .Agency Company of Now Zealand (limited). T^.OR SALE— 48 inch Sacks, full weights 4(> „ „ „ „ 6 Ply Sewing Twino. ALL BEST QUALITY. STORAGE AT LOWEST CURRENT RATES. LIBERAL ADVANCES made ou all kinds of PRODUCE placed m our hands for sale m Colonies or shipment to London. A. B. BPALDING, Msrmgor. NOTICE TO ADVERTISEBS. A DVERTISERB wishing to ALTK.U their A. BUHINESa STANDING ADVERTISEMENTS a?« respectfully reouestod to hand m their Alterations c.t this OUIco befori: 2 p.ui. on tho DAY PREVIOUS to the Publication on which they desire tho ulteratios to appear, otherwise the alk ration willhsTt to eUutl over until the foil-Jiving day