Page 3 Advertisements Column 3

Wellington Independent, Volume XVI, Issue 1616, 10 September 1861, Page 3

■ T" AND H. BARBER, Butchers, beg to inferm •j ti • the Public of Wellington, that they bave taken the premises lately occupied by Mr. E. / Wilton, Butcher, of Lambton Quay, and hope by j strict attention to business, and by keeping a i constant supply of good Meat, to merit a share oi public patronage. N.B. — Shipping Supplied. Wellington, July Bth, 18Q1-. _____ THE TO DB INCORPORATED BY AN AOT OP TnE GENEBAL j ASSEMBLY, LIMITING THE LIABILITY OP SHAREHOLDERS. «. . CAPITAL, £500,000, IN SHARES OF £10 EAOH. PAID-UP CAPITAL, £250,000. Preliminary Deposit, 2s. 6d. per Share. *- — . A PAYMENT of 17s. Cd. per shate on signing the deed of settlement ; a further payment of 20s. per share 3 months after signing the deed of settlement ; the ba|anoe 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 notice. To be conducted by a Board of Directors — say seven in number — who shall elect from among themselves two Directors, to advice with the Local Manager, as required. The full Board to have a general control of the Bank's operations. PROVISIONAL TRUSTEES. Auckland : — J. Logan Campbell, T. Henderson J. O'Neill, T. Russell, James Williamson, Esqrs. Wellington : — W. B. Rhodes, A. D. Brandon, Esqrs. Nelson :— H. E. Curtis, E. W. Stafford, Esqrs. Canterbury: — F. A. Weld, J. Cracroft 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 the Colonists of New Zealand are not now in a position to enjoy, and entitled lo i receive, whatever advantages can be derived from the employment of their own capital. Another consideiatiou which should unite 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 in- ( terests of such tut establishment aie regarded as , paramount ; the New Zealand branches being of ( necessity made to feel the effects of financial pressure in other Colonies, and accommodation is given , or refused, frequently, not according to the require- ( ments of th« Bank's customers in New Zealand, j but measured by tha Bank's engagements and necessities elsewhere. A New Zealand Institution t 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 ihe 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 ourselves, hy local effort and management. It is, therefore, proposed to establish on a broaa and permauent basis a Banking Institution, capable of doing the present Banking business of New Zealand, aud susceptible of expansion with a view to meet the requirements of that prosperous future which, it is believed, will certainly and shortly be realised for New Zealand. To accomplish this desirable result — to secure the fculk of the deposits now held by foreign 'Banks — and to give to the public an institution worthy of confidence — il is proposed that the capital shall be 60,000 shares of £10 each. This amount it is conceived will be more than ample to secure the confidence of the public, 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 capital only, and that in the following manner :— 2s. 6d. per share on application. 17s. Od. per share upon signing the Deed of Settlement. 20s. per share 3 months thereafter, and the remaining GOs. 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 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 £10, with the view of enabling all classes of the community to identify themselves with the mone- . tary interests of the country. . To affect the above object it is intended to ap- . ply for an Aot in the present Session of the General Assembly. Branches of the H Bank of New Zealand," will be established in every town of importance in the Colony. Each 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 proprietary represent a capital of £40,000 in the Bank, until which time such Direotors 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 I number of influential Colonists, shareholders in I the Bank will always be found reaideut in London ■ to form such Board. ' Arrangenieut witb some desirable English Bank will be ma-le for affecting Exchange. The " Bank of New Zealand " will make • ad- ( vances upon Bills of Lading, Bonding Warrants, and other legitimate securities. It will be the object of tbis Bank to render all possible accommodation aud facilities consistent with its proper functions to the merchant, settler, storekeeper and farmer. The Balance Sheet of the Bank will be made up every half-year, say on the 30th June and Slst December, and forwarded to each proprietor, together with the Directors Report, prior to the half yearly meetings, at which the Dividend will be declared. Trustees to be named provisionally to appom the necessary oflicers — to cnuse the Prospectus to be published and circulated — to receive applications jor shares — to allot Bhares--*~to open Banking accounts to receive and apply the deposit of -is. 6d per share in payment of preliminary expenses — to prepare the Deed of Settlement for execution of subscribers — to reoeive the further sum of 17a. Od. per share, payable on signing the Deed of Settlement — end 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' notioe 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 the first Board of Directors, or of becoming candidates for seats at such Board, shall be the payment of the preliminary deposit of 2s. Od. per share, and ihe further sum of 17s. fid. per share, and the exeoution of the Deed of Settlement, before the meeting to be eonrened by the Trustees for the election of euoh Board,