Page 3 Advertisements Column 4

Wellington Independent, Volume XVI, Issue 1610, 20 August 1861, Page 3

ON SALE, JO CASKS Stockholm Tar 5 pockets best Kent Hops 12 casks superior Black Oil 10 fchdg. Burton Ale BETHUNE & HUNTER. Ejtfchange Buildings, 28th June, 1801. %mh oi $zte%zKhvfo> 0 TO BB INCORPORATED BY AN AOT OP THE GENERAL ASSEMBLY, LIMITING THE LIABILITY OP SHAREHOLDERS. CAPITAL, £600,000, IN SHARES OF £10 EACH. PAID-UP CAPITAL, £250,000. Preliminary Deposit, 2s. Qd. per Share. ___*» ~ A PAYMENT of 178. Od. per share on signing the deed of settlement ; a further payment of 20s. per share 3 months after signing the deed of settlement ; ihe balmice of 00s. per share, making the total 50 per cent, if required, in culls at intervals of not less than three months thereafter, and on noiice. To be conductod by a Board of Directors — say seven in number — who shall elect from among themselves two Directors, to advice with the Local Mauager, as required. The full Board to have a general control of the Bank's operations. PROVISIONAL TRUSTEES. Auckland:— J. Lognn Campbell, T. Henderson J. O'Neill, T. Russell, Jumes Williamson, Esqrs. Wellington :— W. B. Rhodes, A. D. Brandon, Esqrs. Nelson :— H. E. Curtis, E. W. Stafford, Esqrs. Caniekbuby :— F. A. Weld, J. Craoroft Wilson Esqrs. Otago:— E. McGlashan, Thos. Fraser, Esqrs. Hawkes' Bay :— J. Watt, Esq. It is manifest to those who have directed attention to the subject, that the Banking establishments in New Zealand have derived immense profits which are payable entirely to a foreign proprietary, from a trade carried on with the Funds of the Colonists : a circumstance which must lead to the consideration whether th.» Colonists of New Zealand are not now in a position to enjoy, and entitled lo receive, whhtever advantages can be derived from the employment of their own capital. Another considei ation which should unite the Colonists of I^'ew Zealand in an effort 4 to establish a New Zealand Bank is ihis, no Foreign Bank will study the interests of New Zealand; but the interests of such nn establishment aie regarded as paramount ; the New Zealand branches being of necessity made to feel the effects of financial pressure iv oilier Colonies, and accommodation is given or refused, frequently, not accoiding lo the requirements of tie Bank's customers in New Zealand, but measured by the Bank's engagements and necessities elsewhere. A New Zealand Institution would not be disturbed by these influences: its capital would be specially devoted to New Zealand interests. A reference to the Bank returns, published periodically in the Government Gazettes of the colony, will shew the very large 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 out selves, hy local effort and management. It is, therefore, proposed to establish on a broad nnd permaneut basis a Banking Institution, capable of doing the present Banking business of New Zealand, aud susceptible of expansion with a view to mcci the requirements of that prosperous future which, it is believed, will certuiiily and shortly be realised for New Zealand. To accomplish this desirable result — to secure the lv k of the deposits now held by foreign jjunks— and to give to the public an institution worthy of confidence — it is proposed that the capital shall be '50,0C0 shares of i'lo each. This amount it is conceived will be more than ample to secure the confidence of the public, and of any foreign Bunks wilh whom it may be desirable or necessary lo have transactions. It is proposed to call up one-half of the subscribed copital only, and that iv the follorting manner: — Sis. Od. per share on application. ■17s. Od. per share upon signing the DcedofSettlement. 20s. per share 3 months thereafter, and the remaining OOs. per share if required, by calls at intervals of not less than three months, and of which three months' nOtiie shall be gicen. Iv no ca°e the call to oxctcd «£l.per share. No further calls to be made without the consent of threefourths of- the Proprietors present at a meeting specially convened for that purpose. The shares have been fixed at the moderate sum of 4!10, with ihe view of enabling all .classes ofthe community to identify themselves wiih the monetary interests of the country. To affeel the above object it is intended to apply for an Act in the present Session of the General Assembly. Branches of the " Bauk of New Zealand," will be established in every town of importance in the Colony. Each Brunch to be managed by a Local Mauager appointed by the General Board, ahd two Directors, chosen by the resident local proprietary, when the local proprietary represeut a capital of .£4.0,000 in the Bank, until which time such Directors to be appointed by the General Board. In Londou there will be a Board of Direction and Secretary ; ond it is anticipated ihat a sufficient number of influential Colonists, shareholders in the Bank will always be found reiide.it in London to form such Board. Arrangement with some desirable English Bank will be nwie for affecting Kxchauge. The "Bank of New Zealand" will make advances upon Bills of Lading, Bonding Warraute, and other legitimate securities. Itwill.be the object of this Bank to render all possible accommodation and facilities consistent with its proper functions to the merchant, settler, storekeeper aud farmer. The Balance Sheet of the Bank will be made up every half-year, say ou the 30th- June and 31st December, and forwarded, to each proprietor, together with the Directors Report, prior to the half yearly meetings, at which tho Dividend will be declared. Trustees to be named provisionally to appom the necessary officers — to cause the Prospectus to Ibe published and circulated — to receive applications jor shares — to allot shares — to open Banking accounts to receive and apply the deposit of '.is. Od per share iv payment of preliminary expenses— to i piepare the Deed of Settlement for execution of subscribers — to receive the further sum of 17a. Od. per share, payable on signing the Deed of Settlement — aiid to convene a meeting of qualified subscribers after one-half of the shares shall have been allotted, for the purpose of enabling such subscribers to elect the first Board of Directors, . of which meeting fourteen days' notice is to be given in two local papers. After the election of the Board of Directors, and transfer of Balance of Account to them, the duties of the Trustees shall cease. •The qualification for votibg at the election of ihe first Board of Directors, or of becoming candidates for seats at such Board, shall be the payment of ihe preliminary deposit of 2s. Od. per share, and the further sum of 17s. Od. per share, and the execution of the Deed of Settlement, before the meeting to be convened by the Trustee! for the elec tioa of such Board.