Page 1 Advertisements Column 3

Daily Telegraph (Napier), Issue 3144, 26 July 1881, Page 1

Borough Notices. BOROUGH OP-NAPIER. _ SPENDERS are invited for works required in Forre~ JL ing a portion of Paradise-road. Plane and specifications may l:o seen at my office, If j Tennyson-street, from TUESDAY, July 26th. Eg Tenders to be transmitted to the Town Clerk's Office by noon of MONDAY, August Ist, 1831. The lowest, or any Tender not necessarily accepted. By order, ROBERT LAMB, Municipal Engineer. "" July 23rd, 1881. ■l> BOROUGH OP NAPIER. SEWERAGE WORKS—No. 6 CONTRACT. TENDERS are invited for the Works required in connection with the above. nl Plars, specifications and conditions may now be c, seen, and printed Forms of Tender obtained, at my a otfice, Tennyson-street J! Tetders to be transmitted to the '''own Clerk's Office by noon of MONDAY, August Ist, 1881. The lowest, or any, Tender not necessaiily accepted. By order, ROBERT LAMB, Municipal Engineer. t _ July 213t, 1881. Prospectus. ABRIDGED TQROSPECTUS Jγ 3 OF THE a EAST COAST NATIVE LAND AtfD 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 :—6s 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. Provisional Directors : Hon. W. H, Reynolds, M.L.C., Dunedin John BarTaclotiffh, Eaq, Oamaru Horace Bastings, Esq. M. H.R., Dunedin J, Buchanan, Esq, J.P,, Napier 1 W. Buchanan. Esq, Auckland Joseph Bennett, Ksq, Auckland 1 William Coleman, Esq, Auckland 1 J. M. Dargaville, Esq, Auckland G. Fenwick, 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 Pere, Native Chief, Gisborne Benare Potae, Native Chief, Tokomaru Bay J. B. Poynter, Esq, J. P., Gisborne C. A Pritchard, Esq, Christchurch D. Proudfoot, Esq. Dunedin G-. M. Reed, Esq, Gisborne R. C. Reid, Esq, M.H.R., Hokitika 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. Managing Direbtoks : JfSXSS* ,, - ) AucMand aJSffia?* } Gisbo ™ J. S. M. Thompson, Esq., Wellington Pere Kopata, East Coast Solicitors : Wellington- Messrs Sievwright and Stout Gisborne—W. L. Rees Bankbrs: The Colonial Bank of New Zealand Brokers ahd Aobnts , . Auckland—Alexander Saunders Dunedin— J. B. Bradshaw Oamaru—Joseph Booth Christchurch—T. B. Craig , Wellington—Lidbetter and Cooper Napier-M. R. Miller Hon. Secretary : F. j. Moss, M.H.R., Wellington The following is an epitome of the objects of the Company as detailed in the Prospectus, which may be obtained 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 East 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 is intended that the cash capital raised 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 und eleewhere, making advances to settlers on security, ana generally in utilising the lands and property vested in the Company to the best advantage. The Company is at present registered under "Tbe Joint Stock Companies Act," witii a tiomiu-tl capital of £25,000, by the promoters, who, Jt necessary to increase then operations, trtusli; - their interests to the extended proprietary, retaining IOCO 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 opetung their land 3 for settlement, in a manner mutually beneficial to themselves and such Europeans as may be desirous of becoming associated with them on the principles proposed in the Prospectus, have, after makins* provision for their own requirements, entered into contracts for pass'ng over large areas of valuable land to the Company, at prices baaed 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 iegulations guiding the disposal of the waste lands of the Crown. The Capitalist Shares will bo preferential, having secured to them a minimum of eight per cent per annum as a first charge on the profits, with a further division of profits in proportion to the capital invested. Five Directors will be fleeted by the Capitalist Shareholders, and four by the Original. Shsjcholdsrs, the qualification of a Director being the possession of not less than fifty shares. The Capitalist Shareholders will, under regulations, be entitled to purcbaso lands of the Company for their own lona fide, occupation, surrendenJK their shares in payment, which shall be accepted as value for ten per cent over the amounts paid up. The Native Shareholders will also be entitled, under regulation, to select reserves for their own occupation , surrendering their shares in payment. Ten thousand shares will be set apart for sale in Britain to in ten ding honafide 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 purchaee of lands will not be transferable without the consent of a Native Committee, and the approval of the Directors On these principles it is believed that tbe formation of the East Coast Native Land and Settlement Company will provide for the natives the readiest and most beneficial method of placing their Lands for sale and settlement, 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 ibere 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 New Zealand. The list of applications for shares will be positively closed at Wellington on Saturday, the 30th July. NOTICE. T)B,OSPEOTUSES of the EAST COAST NATIVE X LAND AND SETTLEMENT COMPANY (_ilslited), can be obtained at the office of M. R. MILLER, Stock and Station Agent. 1