Page 4 Advertisements Column 3

Feilding Star, Volume XIII, Issue 12, 28 July 1891, Page 4

PROSPECTUS of the WEST COAST FARMERS' CO - OPERATIVE ASSOCIATION (Limited). To be incorporated under the provisions • of "' The Companies Act. 1882." Capital— £2oo,ooo, in 40.000 sha i es of £5 each. wi(.h power to increase. FIRST issue of 20,i'00 shares are offered tor subscription, in respect ol which it is only proposed to call up 25* per share, payable as follows, viz : 5 on application, 5s on allotment, and the balance up to 25s per share in calls of 5s per share, to be m.-tde at intervals of no less than three months. The balance of 75s per share will remain as a reserve of uncalled capital It is not proposed to i register the Association until at lea-i 40i)0 shares are subscribe' for. In allotting shares regard will be had to priority ot applicat on. Temporary office : Wanganui. Provisional Dibkctobs : Wanganui.— Hon. John Bryce, Messrs T, Higsie, E. E. Fletcher, H. N. Harrison, Alexr. Hiiigie. VVayerley — Messrs W. Wilson, G. Death, James Aitken, Walter Symes. Duncan Macdonald. Marton aud Bulls. — Messrs John W. Marshall, Donald Fraser, Geoffrey Potts, David Scott, John McK.elvie, John T, Dalry.mple, A Cruickshank, W, A, Keiller. Arthur Amon, James Howard. James O Lilly, Alfred Ross, Dr Skerman Feilding and Halcombe. — Maj<-r F. Moore, Messrs Albert H. Finnis, Charles FitzHerbert, H. L. Sherwill, Lewis S. Browne. Walter Johnstone, W. A L. Bailey. John Pollock, William Mills, Owen Pleasants, H Jacobs, J. R John stone, Alex. Bell, D, G. Riddiford, Robert Linton. Palmerston North. — Messrs William Coombs, John Cotter, Rickard O- ii. Carey, Peter Stewart, G. Revington Jones, A. Russell, ..Edward John Arm» strong. Sandon and Carnarvon. — Messrs -J. A. Bailey, James Bull, Robert B. McKenzie, Alex. McDonell, Tom McKenzie, B. S. Penny, Henry Hammond. Duncan D. .VJ cKenzie. Bankers : The Bank of New South Wales Solicitor : Mr T. R. Cash, High street, Mart> n. Managei : To be appointed after first meeting of shareholders. Secretary : (pro tern) M r Walter Smail, Wanganui. Broker: Mr John Stevens, Bulls. REASONS FOR FORMATION OF THE ASSOCIATION. 1. — The obvious necessity that farmers and all other producers, resident on the West Coast of the North Island of New Zealand, should be able to dispose of their wool, frozen meat, gram, dairy produce, flax, fruit, and any other products at greatly reduced rates of commission, and be able to purchase all farm and station requirements at cost price, less actual expenses. 2. — The successful results achieved by Co-Operative Associations in other countries and in other parts of New Zealand — notably, by the Farmers' Co Operative Associations in Canterbury. OBJECTS OF THE ASSOCIATION. The Association is established for the purpose of carryiug on the business of a Co-Operative Association in ull its branches, including the direct importation and supply of farm and other station requisites, and the Memorandum and Articles of Association will enable the Association. — 1. — To purchase, lease, exchange, hire, or otherwise acquire and construct anj land, buildings, warehouses, for the storage of wool, grain, and produce of eyery description, sale yards, railway sidings, machinery, all necessary plant, stock in- trade, merchandise, and all sucb other real and property as by the directors for the time being shall he deemed necessary or convenient for carrying on the business of the Association, 2. — To sell either by public auction or by private contract, live stock of every description, all farm aud station products and requisites, implements, machinery, chattels, and effects of all kinds, upon such terms and conditions as the directors may from time to time appoint. 3. — To afford facilities to the shareholders and constituents of the Association for, or to undertake for them the shipment of their produce to the various markets of the world, and to appoint agents in Great Britain, the other colonies, and "foreign countries for the furtherance of this object. 4. — To make advances to the members of the Association or any other person or persons upon real and personal securities, as may from time to time be approved of by the directors, and to receive money on depbsit at interest or otherwise. o. — To sell, exchange, improve, manage, lease, mortgage, dispose of. or otherwise d9al with all or any part of the property of the Association. ADVANTAGES of the ASSOCIATION To secure to the farmers, graziers, and producers of the West Coast, by cooperation, the benefits of interchange, which have hitherto gone to the agents or distributors alone. By adopting the principle of co operation in the formation of the Association, farmers, graziers, flaxmillers, and all other producers, who are shareholders and constituents, may sell their products and buy what farm and station requisites they severally require in the most favourable markets, and at the same time share in the profits of the Association, which, after payment of all expenses, will be long to and be distributed amongst the shareholders. The Association will collect and supply to shareholders agricultural and other statistics, prompt, disinterested, and res liable information as to the state of and advantages offered by ihe various markets throughout the world. The Association will seek to ally i? self with other kindred institutions, an^l so by sharing the costsijof ajjency in British and foreign markets, reduce such costs, while increasing correspondingly 'he ad vantages to shareh' Iders. The profits of the Association, after payment to the shareholders of a dividend not exceeding seven and a half per cent, per .nnum, and after making pro - v.sion for writing off so much of the assets of the Association as may be ripemed advisable and pro rid i at; for a reserve funci, will be divided amongst the shareholders, accoruiuir to the amount of business done by each with tlie As•ociaiion, or according to any other system of ditison ns may from time io time be approved of by a majority of hareholders at a general meeting of the Associat'on. The annual reports of other similar Associations slmw ihe sutisf.-K.-ioiy inancial results whicli may be attained !»V such enierprises-, and induees ihe belief in the minds of ihe promoters ij |;i i p equally satisfactory ie-ulis n.a} hichieved in this .-lit > f he co n». a it j vhile off'erin.. a safe nve-'men' !. r j»ivit;il thai, the VV'e.s . ua-i I'-iime, ' Jo operative Asocial ion niav bee< ine lot onij a source of ]n lit io its -ha.e lilders and c -list ii lien. s. out iil>.> ,-i giea ( in' permanent l.erii (i. to the farmer-, jraziers. an! produce, * of the YVesi .oast gener diy JO IN STKV i NS, liiioii-Ln, Lulls.