Page 3 Advertisements Column 3

Wellington Independent, Volume XVI, Issue 1673, 4 October 1861, Page 3

, T AND H. BAHBER, Butchers, beg to iuferm \ O • the Public of Wellington, that they have I taken the premises lately occupied by Mr. E. | Wilton, Butcher, of Lnmbton Quay, and hope by j strict attention to business, and by keeping a ( constant supply of godd Meat, to merit a share of public patronage.. N.B. — Shipping Supplied. Wellington, July Bth", 1861; ■ THE . 0 • TO BE INCORPORATED 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. 6d, per Share, _^> A PAYMENT of 17s. 6d. per shate, on signing the deed of settlement ; a further payment of 20s. per share 3 months after signing the deed of settlement ; the balance of 00s. per share, making the total 50 per cent, if required, in calls at intervals of not less thau three months thereafter, and on notice. To be conducted by a Board of Directors— say seven iv 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. Logau Campbell, T. Henderson i J. O'Neill, T. Russell, James WilI . liamsou, Esqrs. i Wellington: — W. B. Rhodes, A. D. Brandon, Esqrs. Nelson :— H. E. Curtis, E. W. Stafford, Esqrs. Canterbury :— F. /. . 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 cakrtbd on with the Funds of the Colonists : a circumstance which must lead to the consideration whether the Colonists of New Zealand are not no^v 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 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 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 tho Bank's customers in New Zealand, but measured by tho 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 and 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, aud susceptible of expansion with a view to meet the requirements of that prosperous future which, it is helieved, will certainly and 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 givo to the public un institution worthy of confidence — it is proposed that the capital shall he 50,000 shares of dglO 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 Bubscribed capital only, and that iv the following manner : — 2s. od. per share on application. 17s. Gd. per share upon signing the Deed of Settlement. 20s. per share 3 months thereafter, and the remaining 00s. 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 case, the call to exceed 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 tho " 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 tho General Board, and two , Directors, cliaseu by the resideut local proprietary, ,when the local proprietary represent a capital of in the Bank, until which time such Directors to be appointed by the General Board. In London there will be a Board of Direction and Secretary ; nnd it is anticipated that a sufficient number of influential Colonists, shareholders in the Bank will always be found resideut iv London j to form such Board. Arrangement with some desirable English Bank will be made for affecting Exchange. The " Bank of New Zealand " will make advances upon Bills of Lading, Bonding Warrants, and other legitimate securities. It will be the object of this 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 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 be published and circulated — to receive applications jor shares — to allot shares— to open Banking accounts to receive and apply ihe deposit of 2s. Gd> per share in payment of preliminary expenses — to prepare the Deed of Settlement for execution of subscribers — to receive the further sum of 17a. Cd. per share, payable on signing the Deed of Settlement — and to convene & meeting of qualified subscribers after one-half of the shares shall have been allotted, for the purpose of enabling such subscribers to eject 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 Dirsctors, and transfer of Balance of Account to them, the duties of tho Trustees shall cease. The qualification, for voting &\, the election of the first Board of Directors, or of becoming candidates for Boats at suoh Board, shall be the payment of the preliminary deposit of 2s. 6d. pen share, and the further sum of 17s. Od. per share, and the execution of theiDeed of Settlement, before the meet^ ing to be convened by the Trustees for the election of suoh Board,