Page 2 Advertisements Column 2

Wellington Independent, Volume XVI, Issue 1596, 2 July 1861, Page 2

SMALL PROFITS & Lots of New Goods, at LADIES' will find DRESSES of every Black and Brown Cloth Mantles, and Plain and Fancy Skirts, Ribbons and Mantle Cloths and Tweeds, with ever of Trimmings aud Fancy Goo_s? Suit Gentlem( Cases of Coats, Trowsers, and Vests, Woollen Cord, Shepherd's P style, Gloves, Neckties, Regt TAKE NOTICE.— ARTICLE Mattresses in any quantity,' and Bedding W A B MOl-I/S MA TTRE THE §rak 0f j|jefo^jea.latxjbr # TO. BE INCORPORATED, BY AN AOT OF THE GENERAL ASSEMBLY, LIMITING THE LIABILITY OP . . SHAREHOLDEIIS. _ | CAPITAL, £500,000, IN SHARES OF ' £io each. : : PAID-UP CAPITAL, £250,000. . ,_ ■preliminary Deposit. 2s. Qd. $er Sharp. . — » A PAYMENT of 17b. 6d. per shaie on signing the deed of settlement; a further payment of 20s. per share 3months after signing the deed of settlement; the balance of 60s. per share, making the total 50 per cent, if required, in calls at intervals of not less than three months thereafter, and on notioe. v ■ • To be conducted by a Board of Directors— say seven in number— who shall elect from among themselves two Directors, to advice wkh the Local Manager, as required. The full Board to have a general control of the Bank's operations. PROVISIONAL TRUSTEES. Aucklawd:— J. Logan Campbell, T. Henderson • J. O'Neill, T. Russell, Jnmes Wit*. Hamson, Esqrs. ' Wellingxok :— : W. B. Rhodes, A. D. Brandon, Esqrs. Nelson :— H. E. Curtis, B. W. Stafford, Esqrs. Canterbury :— F. A. Weld, J. Cracrofi Wilson Esqrs. •>s'. ' Otaoo:— E. McGlashan, Thos. Eraser, Esqrs. Hawkes* Bay :— J. Watt, Esq. It is manifest to those who have directed attention to the subject, that the Bankiug establishments in' New Zealand have derived immense profits which are payable entirely to a foreign proprietary, from a trade carrted on with the Funds of the Coldnistb : a circumstance which must lead to the consideration whether the Colonists of New Zealand are not now in a position to enjoy, and entitled to receive, whatever advantages can be. derived from the employment of their own capital. Another consideration which should unjte the Colonists of New Zealand in an effort to establish a New Zealand Bank is this, no Foreign Bank will study the interests of New Zealand; but the iv- , terests of such an establishment aie regarded as paramount ; the New Zealand branches being of necessity made to feel the effects of financial pres- , sure in other Colonies, and accommodation is given , or refused, frequently, not according to the requirements of the Bank's customers, in New Zealand, but measured by the Bank's engagements and necessities,, elsewhere. A. New Institution would not be disturbed by these influences; its ! capital would be specially devoted to New Zealand interests. *■'■'% i A reference to the Bank returns, published periodically in the Government Gazettes of the colony, wilfshew the very lerge profits made from ' the Deposits of the Colonists; what Foreign Banks have for many years done for us, with our funds, we now propose to do for ourselves, by local effort aiid management. It is, therefore, proposed to establish on a broad and permanent basis a Banking Institution, capable of doing the present Banking business of New Zealand, and susceptible of expansion with a view to meet the requirements of that prosperous future , which, it is believed, will oertainly aud shortly be realised for New Zealand. To accomplish this desirable result — to secure the bulk of the deposits now held by foreign Banks — and to give to the public an institu-' tion worthy of confidence-— it is proposed that the ' capital shall be 50,000 shares of „10 each. This amount it is conceived will be more than ample to secure the confidence of the publio, and of any ' foreign Banks, with whom it may be desirable or necessary to have transactions. --. It is proposed to .call up one-half of the subscribed oapital only, and that in the following manner : — 2s. 6d. per share on application.' 17s.. fid. per.share upon signing tbe Deed of Seitie-: ment. --..,. ? _ ' ] ' r '\ ; 20s. pfer "share 3 months thereafter, and there. , maining 60s. per share if required, by calls at intervals of not less than. three months, and of which' three months' notice shall be given. In, no . ca"e the call to; exceed £1 per share. No. further calls to be made without the coueent7of three - c fourths of the Proprietors present at a meeting Specially convened for that purpose; • ' ' The shares have, been fixed at the -moderate 'sum' . of £10, with the view of enabling all classes of the community to identify themselves with the monetary interests of the country. To affeot the above object it is intended.'tp apply for an Act in the present Session ' «f the General Assembly. Branches of the " Bank of New Zealand," will be established' in every town of importance in the Colony. Eaoh Branch' to be managed by a Local Manager appointed by the General Board, and two Directors, chosen by the resident local proprietary, . when the local pre prie tary represent a capital of JGIO.OOO in the Bank, until which time such Direo- . tors to be appointed by the General Board. - : In London' there will be a Board of Direction and. Secretary ; and it is anticipated that a sufficient humber «f influential Colonists, shareholders in the Batik will always be found re&ideut in London to form such Board. Arrangement with some desirable English Bank will be maie for affecting Exchange. ' '■■ .The. "Bank of New Zealand" will make advances upon Bills of Lading, Bonding Warrants, and otber legitimate securities. 7 It will be the object of this Bank to render all possible accommodation and facilities consistent with its proper functions to the merohaut, settler?' storekeeper' and farmer. The Balance Sheet of the Bank will be made up every half-year, say on the 80th June: and 31stDecember, and forwarded to each < proprietor, together with the Directors Report, prior to the half yeiirly meetings, at which tho Dividend will be declared. Trustees to be named provisionally to appoint the necessary officers— to cause the Prospectus to be published and circulated — to receive applications for shares—to allot shares— to open. Bankingjioeounts to receive and apply the deposit, of 'is. "6'i\ f . per share in payment of preliminary expenses— to; prepare the Deed of Settlement for execution of subscribers— to receive the further sum of l7u. Od. per share, payable on signing the, Deed of Settlement— and «p foonvene a meeting of qualified subscribers after one-half of the shares shall have been allotted, for the purpose of enabling such