Page 2 Advertisements Column 2

Western Star, Issue 31, 13 June 1874, Page 2

p ’ovl-ieo,reserving t" ; oiks.’ ’ ;to be disposed of hereafter, as t ic rap’ I prog ess of tie co.ony, may demand arid slia. c'nlde-s nr v decide; bat in no instance will any of tie roma : iv*»s shares be off are I for sale one of the colony without having been first offered to the colonial holders, nor whl anv but a New Zealand Register be kepi.. 3 vl. It is inter Jed that the Head Office o’ the Bade shall be iu Dunedin, and that a Gene .aI Manager of high professional standing shall bo appointed to guide the operations of the Bank ; and also that a Board of qualified Directors shall be elected from among the Committee to advise with the General Manager, and generally watch the interests of the whole Institution. 4th. As soon as a sufficient number of Shares sba'l hare been apphed for to warrant the commencement of business, the Head Office will bo opened in Dunedin, in suitable Premises already secured under offer, and thereafter Branches will gradually be opened in the Chief Centres of Settlement throughout the Colour'. sth. It will bo the chief aim of the Promoters of this Bank to aid and conserve alike the interests of the whole community in this Colony. The Mercantile, Trading, Pastoral, Agricultural, Mining, Artizan, and Labouring classes will each have fair treatment and support from the Colonial Bank. To the Mining Interest special attention will be given, with a desire to acquire for the Miners the Mint value of their Gold, whether iu large or small quantities, and until such value can bo ascertained a liberal advance will he made upon any Gold deposited for the purpose of coinage. 6th. It is not intended by the promoters that this Bank shall purchase gold, but merely bo prepared to make advances upon it until realised, iu the same manner that it will bo ready to do upon Wool, Grain, or other produce. 7th. The amount of New Zealand Money in the hands of three Banks from Australia trading in the Colony on the 31st December last, as shown by their several returns furnished to the Government, appears thus, without giving odd numbers : —Union Bank of of Australia deposits, £870,000; circulation, £123,425 ; total, £993,425 ; Bank of Now South Wales deposits, £560,000 ; circulation, £104,849 ; total; £664,849; Bank of Australasia deposits, £193,000 ; circulation, £38,962 ; total, 231,962 ; showing a total of £1,890,236; or nearly two millions of money belonging to colonists entrusted to Boards of Directors in Melbourne or Sydney to control or manipulate as it may be convenient for the good of commerce in Victoria or New South Wales ; or for the beneflieial regulation of their exchange operations in those colonies. Bth. The Promoters, in placing the foregoing facts before the people of this colony, desire to point out the very great disadvantages that Colonists arc sure to labour under by lending—or rather giving—such a large sum of money as stated above to foreign Banks, to bo lout back to the people here at very high rates of interest, and on most arbitrary conditions. They therefore have no hesitation in suggesting the prudence and wisdom of the Colonists keeping within their own domain the absolute control of their own moneys ; as by so doing they will most effectually destroy the risk of future monetary disturbances, which, they have had on more than one occasion to deplore in the. past, brought about solely by some crisis that has occurred in one or other of the Australian colonies, where the real, interests of the foreign Bank most strongly take root. 9th. It has been determined by the Promoters that the first issue of 200,000 shares shall be conducted by Committees, to be appointed severally in the chief city in each province ; and no Shares will bo given or reserved to the Promoters; but each member of the Provisional Committee is willing to become a subscriber for the number of shares standing opposite to his name. 10th. It is proposed at the issue of Shares above referred to, that ss. per Share bo paid on application; that 10s. per shave be paid on allotment; that a Call of ss. per Share ho made and payable two months after allotment ; that a second Call of ss. per Share be made and payable four months after allotment; and that a third Call of ss. per share be made and payable six months after allotment—making together 30s. paid up per shai'e. No further call to be made within twelve months of the Bank first commencing business in Dunedin ; after which future Calls will not exceed ss. per Share, nor bo made at shorter intervals than three months between each Call. 11. The Act of Incorporation for this Bank will bo so framed as to limit the liability of the Shareholders to twice the amount of their Shares, the same as the other banks. 12. As a thoroughly Colonial Institution, the Promoters have much pleasure in strongly recommending THE COLONIAL BANK of NEW ZEALAND to the support of all Colonists bavino- the real welfare of New Zealand at heart. Such an institution is much wanted at the present time ; and as the development of the Colony proceed?, its usefulness will also increase, and be more and more appreciated, both as an investment for the savings of the people, and as a useful bank. Judging from the inllucnco and sound experience possessed by the promoting Members of Ooramitt.-e, it is certain that no similar institution has ever yet been launched in the Southern Hemisphere under bettor auspices. The Local Provisional Committee for Invercargill, with any of the members of which applications for shares may he lodged, arc —Peter M'Kellar, runlioldcr ; j. W. Mitchell, merchant; John 11. Cuthbevtson, M.IT. R.; G. E. Martin, stock and station agent; E. W. Wade, Solicitor. Applications for Shares will he received at Riverton by Wjuttixcham Bugs. & Instone. POEM of APPLICATION for SHARES. To Ttri-: Provisional Committee of the COLONIAL BANK OE NEW ZEALAND. Gentlemen, —I hereby make application for Share in the above Company; and.