Page 1 Advertisements Column 5

Daily Telegraph (Napier), Issue 3134, 14 July 1881, Page 1

Impounding Notices, IMPOUNDED AT HASTINGS, By PcniTe Ua, on July 2nd, ONE Yearling Heifer, red and white, uo brand visible Unless ledecmed, will be sold July 18th, at noon. W. A. BEEOROFT, Poundkeeper. Hastings, July 4th, 1881. IMPOUNDED AT HASTINGS, (By Wm. Evison,on July 11.i BROWN MARE, about 14=V hands high, white star on forehead, off fore-fetlock white, sore back, no brand visible. Damages 12*, driving 2s 6d. Unless redeemed will be sold on MONDAY, July 25th, at noon. W. A. BEECROFT, Poundkeeper. Prospectus. \ BRIDGED T>ROSPECTUS OP THE EAST COAST NATIVE LAND A>'D SETTLEMENT COMPANY, (Limited.) Capital £500,000, in 100,000 shares of £5 each; whereof £70,000 will be allotted to the Aboriginal Native contributors of land, called " Original Shares," and 30,000 to European subscribers of Capital, and called " Capitalist Shares." First issue of Capitalist Shares 20.000, payable as follows :—ss on application, 5s on allotment; subsequent calls, if they are required, not to exceed 5s each, nor to be made at intervals of less than three months. PiDVrstoNAii Directors : Hon. H. B, Russel, M L.C., Hawke's Bay Hon. W. H, Reynolds. M.L.C., Dunedin John Bar*-raclou?h, Esq, Oamaru Horace Bastings, Eeq, M.H.R., Dunedin F. H. D. Bell, Eirq, Wellington J. Buchanan, Esq, J.P„ Napier W. Buchanan. Esq, Auckland Joseph Bennett, Esq, Auckl :.nd Wil'iam Coleman, Eiq, Auckland J. M. Dargaville, Esq. Auckland G. Fen wick, Esq, Dunedin C. A. DeLautour, Esq, M.H.R., Gisborne Allan M'Donald, Esq.M.H.R, Gisborne D. H Mackenzie Esq, Auckland F. J, Moss, Esq. M.H.R., Auckland Wiremu Peic, Native Chief, Gisborne Bcuare Potae, Native Chief. Tokomaru Bay J. B. Poynter, Esq, J P.. Gisborne C. A Pritclmd, Fsq, Christchurch D. Proudfoot, Esq, Dunedin Montaau Pym, Esq, Duuedin G. M. Reed, Esq, Gisborne R. C. Reid, Esq, M.H.E., Hokitika W. L. Rees, Esq, Gisborne R. H. J. Reeves, Esq, M.H.R., Nelson H. C. Robjohns. Esq, Napier Major Ropata, Native Chief, Tokomaru Bay J. M: Shera, Esq, Auckland R Stout. Esq, Dunedin W. H. Tucker, Esq, J. P., Gisborne J. S M. Thompson, Esq, Wellington R. Wilson, Esq, Dunedin Solicitors : Wellington—Messrs Sievwright and Stout Gisborne—W. L. Rees Bankers: The Colonial Bank of New Zealand Brokers and Agents ' Auckland—Alexander Saunders Dunedin—J. B. Bradshaw Oamaru-—Joseph Booth Christc'iurch—T. B. Craig Wellington—Lidbetter and Cooper Napier-M. R. Miller Hon. Secretary : F. o. Moss, M.H.R., Wellington The following is an epitome of the objects of the Company as detailed in the Prospectus, which may be oKained from the Brokers and at the various Branches of the Colonial Bank :— The object of this Company is the Voluntary Association of the owners of Native Lands with European Capitalists, for the purpose of promoting settlement on the lands on the Eaet Coast of the North Island of New Zealand It is intended to be attained by the Native owners contributing blocks of land at original or unimproved values, receiving paid-up shares in the Company for the same ; the European Shareholders contributing capital to be called up in fixed and limited amounts as may be found requisite for conducting the operations of the Company. It ia intended that the cash capital rais:d shall be employed in defraying expenses of management, completing titles, effecting surveys and subdivision into farm and township lots, opening means of access, conducting the sale and leasing of lands, promoting the formation of Special Settlement parties from England and elsewhere, making advances to settlers on security, and generally in utilising the lands and property vested in the Company to tho best advantage. The Company is at presort registered under "The Joint Stock Companies Act," with a nominal capital of £25,000, by the promoters,_ who, finding it necessary to increase their operations, transfer their interests to the extended proprietary, retaining 1000 paid-up Capitalist and 1000 paid-up Original Shares in the Company. The Government having abandoned the purchase of Native lands, the Native owners in the Poverty Bay and East Coast districts being strongly desirous of opening their lands for settlement, in a manner mutually beneficial to themselves and such Europeans as may be desirous of becoming associated with them on the principles proposad in the Prospectus, have, after makintr provision for their own requirements, entered into contracts for pass'ng over large areas of yaluable land to the Company, at prices based on those of former Government purchases, receiving shares in payment for the same. It is anticipated that the Company will be able to dispose of its lands to great advantage, as under its control, and with its guarantee, title will be absolutely good, while all lands purchased will be at once placed uuder the " Land Transfer Act," and will be sold from time to time for cash, or on long deferred payments, and generally in accordance with the tegulations guiding the disposal of the waste lands of the nrown. The Capitalist Shares will be preferential, having secured to them a minimum of eight per cent per annum as a first charge on the proiit3, with a further division of profits in proportion to the capital invested. ..,,«. Five Directors will be elected by the Capitalist Shareholders, and four by the Original Shareholders, the qualification of a Director being the possession of not less than fifty shares. The Capitalist Shareholders will, under regulations, be entitled to purchase lands of the Company for tbeir own bona fide occupation, surrendering their shares in navment, which shall be accepted as value for ten per cent over the amounts paid up. The Native Shareholders will also be entitled, under legulation, to select reserves for their own occupation , surrendering their shares in payment. Ten thousand shares will be set apart for sale in Britain to intending bona fide settlers, and an officer of the Company will be located in England, to send out Special Settlement Parties for the Company's landsTo prevent the improper diversion of the Natives interest, original shares given in the purchase of lands will not be transferable without the consent ot a Native Committee, and the approval of the Directors ~,*,.. » On these principles it Is believed that the formation of the East Coast Native Laud and Settlement Company will provide for the natives the readiest and most beneficial method of placing their Lands for sale and settlcmant, while the great and growing demand in Great Britain among intending emigrants for Land in the Colonies, and the ever unsatisfied demand for land among the would-be settlers in the Colony itself, the well-known fertility of the Poverty Bay and East Coast lands, their suitableness for extensive settlement, and the greatly enhanced value which must be inevitably given to lands there situated by the promotion of settlement in this wholly undeveloped district, combine to present to capitalists investing a prospect of remuneration, and an extension of sphere for the operation of capital, probably unequalled by any other proposal yet submitted in the colony. The Memorandum of Association may be seen in the hands of the Solicitors and Brokers of the Company, and detailed prospectuses and forms of application for shares may be had from the Brokers and at the various offices of the Colonial Bank of Now Zealand. , The list of applications for shares will be positively closed at Wellington on Saturday, the 30th July. NOTICE. PROSPECTUSES of the EAST COAST NATIVE LAND AND SETTLEMENT COMPANY (_ijiitbd), can be obtained at the office of v M. R. MILLER, Stock and Station Agent. NOTICE. ALL Accounts owing to me are to be paid to Mr R. H. Roßmso**, 'Draper, Napier, '.before |the 31st of July next, or summonses will bo taken out without further notice. W. EDWARDS. Napier, June 29th, 18S1. NOTICE. MY Establishment will be CLOSED on and after July 4th, at G o'clock every evening, except Saturdays, uutil further notice. Customers will please notice also that we still sell CHEAPER thny any one else in the colony, because wo are the only bona fide cash buyeis. H. H. WALL, Watchmaker.