Page 3 Advertisements Column 3

Wellington Independent, Volume XVI, Issue 1620, 24 September 1861, Page 3

, T AND H. BARBER, Butchers, beg todnferin \t) • the Public of Wellington, that they have I taken the premises lately occupied by Mr, E. Wilton, Butcher, of Lambton Quay, and hope by strict attention to business, and by keeping fl constant supply'of good Meat, to merit a share ol public patronage. N.B. — Shipping Supplied. Wellington, July Btb, 1861; __. THE §K\xk oi J]Ufolj>aJm&, TO BE INOOBPOBATED BY AN ACT .OF THE GENERAL ASSEMBLY , LIMITING THE LIABILITY OP SHAREHOLDERS. + CAPITAL, £500,000, IN SHARES OF £10 EACH. PAID-UP CAPITAL, £250,000. Preliminary Deposit, 2s. Qd. per Share, A PAYMENT of 17s. 6d. per shaie on signing the deed of settlement ; a further payment of 20s. per share 3 months after signing the deed of settlement; the balance of 60s. per share, making the total 50 per cent, if required, in calls at iutervals 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. j 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 atten - tion to the subject, that the Banking establishments in New Zealand have derived immense profits which are payable eutirely. to a foreign proprietary, from a trade carried on with the Funds oi? the Col»nißts : a circumstance which must lead to the consideration whether the Colonists of New Zealand are not now iv a position to enjoy, and entitled to receive, whatever advantages caa be derived from the employment of their own capital. Another consideration which should unite tbe Colonists of New Zealand in an effort to establish a New Zealand Bank is this, no Foreign Bank will study the interpsts of New Zealand; but the interests of such tin 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 requirements of tbe 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 ourselves, by local effort ar.d 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 oertaialy and shortly be realised for New Zealand. To accomplish this desirable result — to secure the fcuik of the deposits now held by foreign Banks — and to give to the public an insiitution 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 oiie-balf of the subscribed capital only, and that in the following manner : — • 2s. Gd. per share on application. 17s. 6d. per share upon signing the Deed of Settlement. , 20s. per share 3 months thereafter, and the remaining 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^o 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 monetary interests of the country. To affect 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 Branch to be managed by a Local Manager appointed by the General Board, and two Directors, cliesen by the resident local proprietary, when tbe local preprietary represent a capital of £40,000 in the Bank, until which time such Directors to be appointed by the General Board. Iv London there will be a Board of Direction and Secretary ; and it is anticipated that a sufficient number of influential Colonists, shareholders in the Bank will always be found reoideut in London to form such Board. Arrangement -with some desirable English Bank will be male for affecting Exchange. The "Bank of New Zealand" will make advances upon Bills of Lading, Bonding Warrants, «nd other legitimate securities. It will be the object of this Bank to render all possible accommodation and 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 31st December, and forwarded to each proprietor, together with tbe Directors Report, prior to the half yearly meetings, at which the Dividend will be declared. Trustees to be named provisionally to appoin the necessary officers — to cause the Prospectus to be published and circulated — to receive applications jor shares — to allot shares — to open Banking accounts to receive and apply ilie deposit of Sis. 6d per share inpayment of preliminary, expenses — to prepare the Deed of Settlement for execution of subscribers — to receive the further sum of 17a. 6d. per share; payable on signing the Deed of Settlement — and 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 olect 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 votir«g at the election of tbe first Board of Directors, or of becoming candidates for scats at such Board, shall be the payment of tiie preliminary deposit of 2s. Od. per share, and the further sum of 17a. 6d. per share, and the execution of the Deed of Settlement, before the meeting to be convened by the Trustees for the election of such Board.