Page 1 Advertisements Column 3

Wanganui Chronicle, Volume XXXIII, Issue 11332, 29 July 1891, Page 1

Business Advertisement. PROSPECTUS OFTHE WANGANUI BUILDING SOCIETI & LAND AGENCY COMPANY (Limited). CAPITAL ... .£IO,OOO In 2000 Shares of £5 each. The Liability of each Shareholder is limited to the amount of the share or shares he may hold. PBOVISIONAL DIRECTORS: Mr William A ikon (Chairman) Mr W. G. Bassett Mr James Laird Mr S. Turley MrW. Bruce . Mr I. G. Sharpe Manager : Mr Edward N. Liffiton. Bankers : The Colonial* Bank of New Zealand. Solicitors : Messrs Treadwell and Lloyd. Auditor : Mr Lloyd Jones. Offices : Butland Chambers. The promoters, in inviting the public to subsciibe to the shares in this Company have every confidence that their efforts to establish a business profitablo and convenient alike to Shareholders and the general public will be met with success. That there is an opening there can be no doubt, for there is only one Company of the kind now extant in Wanganui, whereas for many years there have been three or four, all of which did a profitable business. The objects for which the ■Company is established are : — a. The making of loans on the mortgage oi freehold or leasehold property in the colony of New Zealand on the teims of such loan with interest being repayable either by instalments on some fixed day in every calendar month within a certain fixed period or on such other terms by instalments or otherwise as may be agreed on with the borrower at the time of the loan aud sub-ject to such bye-laws as may be made affetting the sanre. b. The making of loans on the security of personal property generally, and particularly upon the security of debentures of the General Government of New Zealand or the shares or de--6 bentures of any Corporation or Public Company or body m New Zealand (including this Company) but not the making advances or loans on or by discounting Bills of Exchange or Promissory Notes. _ c. The purchasing, holding, or selling of any such securities or debentures of tho General Government of New Zealand or the shares or debentures of any Corporation or Public Company or body in New Zealand (including this Company). d. The purchasing of property with the view of subdividing and re-sell-ing the same. c. The receiving of money on deposit at interest or otherwise. /. The receiving, by instalments payable on some fixed day in every calendar, month from any person or persons such sums as may be agreed on and contracting to pay or paying to such person or persons each sum of money being the sum of twenty pounds or a multiple of twenty pounds as may be agreed on at the expiration of an agreed fixed period from the date (of the payment of the first of such instalments. g. '1 he borrowing or raising of money by the issue of or upon bonds, debentures, Bills of Exchange, Promissory Notes, or other obligations or securities of tho Company or upon tho credit of, the Company or in such other manner as the Company shall think fit. h. The entering into, contracting for carrying out, aud doing all such other acts, matters, and things as may be incidental to or conducive to the attainment (if all or any of the above objects or all or any objects of a like or similar nature. It is proposed that the Capital shall at present be only £10,000, so avoiding the heavy license fee on a large nominal capital, tbe promoters reserving the right to increase tbe capital, when the business of the Company may justify their doing so. It is only proposed to call up £2 10s per sharp, viz. 2s. on allotment and the balance by monthly palls of 2s. per share. This it is anticipated will enable many, who have a few shillings to sparo per month to participate and share in the business of the Company and gradually accumulate a fund that will be a useful help in after life. Your promoters propose inserting in the rules a clause that no Director or Chairman of Directors receive any fee for their services as such unless tbe Shareholders first determine in general meeting that a renumeratiun shall be granted, and such must be dealt with at each annual general meeting. Economical arrangements have been made for the management of the Company that will materially aid in establishing a-firm and lucrative business, and when similar Companies, handicapped by heavy payments for management succeed in paying large dividends, it can be easily seen that a remunerative business can be established. It is also proposed to provide in the rules that upon any Director borrowing from the Company (other than by way of advance on shares) he shall cease ipso facto to be a Director. Particular attention is called to Clause F., no Company in Wanganui having as yet made a feature of this useful mode of enabling mechanics, artizans, and others to gradually accumulate their monthly savings. To this end tables will be prepared clearly Sotting out to those desirous of availing themselves of this mode of saving — 1. The amount of monthly payment. 2. The duration of such. 3. The amount of interest guaranteed. It is proposed to make the first call payable on the first Monday in September and thereafter on the first Monday in each calendar month. All applicants for shares must with their application pay the first call, and a sum of 2s 6d on the first share, and Is per share on the remainder of their shares to provide a fund for tho necessary books, printing, and general expenses of incorporating and floating the Company. Should the fund collected be in excess of those requirements the balance will be carried to the credit of Profit and Loss Account. Applications for shares will be received by Mr Edward N. Liffiton, or by any of the Provisional Directors. Applications for less than five share 3 will not be entertained, and if any individual allotment is refused the deposit will be returned in full, TT ORSE CLIPPING. The Undersigned bogs to intimate to Horse Owners and others that he has commenced this Season's Clipping, and will be glad of the patronage of his first customers, as well as others. Terms Moderate. W. McELWAIN, Empire Stables.