Page 4 Advertisements Column 3

Cromwell Argus, Volume V, Issue 236, 19 May 1874, Page 4

1 Bank shall lie in Punoliu, and that a General Manager of hig.li proftiHsiotial standing shall be appointed to guide the operations of the Bank; 'and also that'a Board of qualified Directors shall be elected from among the Committee to adviso with the General Manager, and generally watch jthe interests of the whole institution. ' " I \ ' 4th. As soon as a sufficient number of shares shall have been applied for to warrant the commencement of business, the Plead Office will be 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 colony. sth. It will be the chief aim of the promoters of this Bank to aid and conserve alikti 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 whether in large or small quantities, anduntil such value can be" ascertained "a liberaTadvauce will bo made upon any gold deposited for-, the purposes of coinage. • irJ'sa : Gth. It is not intended by the Promoters that this Bank-shall purchase gold,:bnt merely be prepared to make advances upon it until realised, in the same manner that it will be ready to do upon wool, grain, or other produce. 7th. The amounts of New Zsaland money in the hands of the three Banks from Australia trading in the Colony on the 31st December last, as shown by their several returns furnished to the Government, appear thus, without giving odd numbers : ,■ . ,* •■ .-•-_• Deposits. Circulation. ■ Total. Union Bank of .■ , Australia ... £870,000 £123,254 £993,425 Bank of New South Wales 560,000 104,849 604,849 Bank of Aus- • ' tralasia ... 193,000 38,962 231,962 ShowiQg 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 please their tastes, or as it may be convenient for the good of commerce in Victoria- or New South Wales, or for the benefit 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 are sure to labour under by lending- or rather giving—such a large sum of moneys as stated above, to foreign Banks, to be lent back to the people here at very high rates of iuterest, 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 hid 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 Banks most strongly take root. ' 9tb. It has been determined by the Promoters that the trst 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 be 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. [The Provisional Committee have already subscribed among themselves for 25,745 shares. which they are prepared to take if allotted to them.] lOoh. It is proposed at the issue of shares above referred to, that 5s per share be paid on application ; that 10s per share be paid on allotment ; that a call of 5s per share be made and payable two months after allotment; that a second call of 5s per share be made and payable four months after allotment; and that a third call of 5s per share be made and payable six months after allotment ;—making together 30s paid up per share. 'No further call to be made within twelve mouths of the Bank first commencing business in Dunedin ; after which, future calls will not exceed 5s per share, nor be made at shorter intervals than three months between each call. ' •

11th. The Act of. Incorporation for tins Bank will be so framed as to admit the liability of the shareholders to twice the amount of their shares, the same, as other Banks. 12th. As a thoroughly Colonial institution; the Promoters have much pleasure in strongly recommending Tas Colonial Bank of New Zealand to the support of all colonists having 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 proceeds, 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 influence and sound experience possessed by the promoting members of Committee, it is certain that no similar institution has ever' yet been launched in the Southern Hemisphere under better auspices. Applications for shares will now be received at the Temporary O.iices of the Bank, Highstreet (late Club), Duuedin, where forms of application and full information can be obtained ; or at Messrs HaHenstein aud Co.'s, Croimvell.

FORM OP APPLICATION FOR SHARES. Date 1874 TO THE PROVISIONAL COMMITTEE OF THE COLONIAL BANK OF NEW ZEALAND. I hereby make application for shares in the above Company, and hand you herewith the sum of £ , being the amount of Five Shillings per Shave deposit on the same ; and I agree to take the said shares, or any less number that may be allotted to me, and 1 further agree to subscribe to the Articles of Association when required to do so. I am, Gentlemen, yours truly, Signature ISame in full Occupation