Page 4 Advertisements Column 3

Feilding Star, Volume XIII, Issue 18, 11 August 1891, Page 4

PHOSPECTUS of the WEST COAST FARMERS' CO -OPERATIVE ASSOCIATION (Limited). To be incorporated under the provisions . ' of " Tho Companies An, IBS 2 " ! Capital— £2()o,i ioi>, in 40.000 shares of £5 ' f each, with power to increase. FIRST issue of 20,"(X) <hares are oF-ferc-d for subscription, in respect- of which it is only proposed to call up 25s 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 sliare, to be m;ide at intervals of no. ! less than three months. The balance of I 75s per share will remain as a reserve of j uncalled capital It is not proposed to j register the Association until at least | 40n0 shares are subscribed for. In allotting shares regard will be had to priority ot application. Temporary office : Wanganui. PiiOVISIONAL .DIHKCTOBS : Wanganui. — Hon. John Bryce, Messrs T, Higeie, E. E. Fletcher, H. N. Harrison, Alexr. Hiegie. VVayerley. — Messrs W. Wilson, G. Death, James Aitken, Walter Symes, Duncan Macdonald. Marton and Bulls. — Messrs John W. Marshall, Donald Fraser, Geoffrey Potts, David Scott, John Mc&elvie, John T, Dalrymple, A Cruickshank, W, A, Keiller. Arthur Aman, James Howard, James O Lilly, Aifred Boss. Feilding and Halcombe. — Major 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 Johnstone, Alex. Bell, D. G. Eiddiford, Jioberl Linton. Palmerston North. — Messrs William Coombs, John Cotter, Eickard O. E. Carey, Peter Stewart, G. Eevmgton Jones, A. Eussell, Edward John Armstrong. Sandon and Carnarvon. — Messrs J. A. Bailey, James Bull, Eobert B. McKenzie, Ales. MeDonell, Tom McKenzie, B. S, Penny, Henry Hammond. Duncan D. McKenaie. Bankers : The Bank of New South Wales Solicitor : Mr T. E. Cash, High street, Marton. Managei : To be appointed after first meeting of shareholders. Secretary •- (pro tern) M r Walter Sinail, Wanganui. Broker : Mr John Stevens, Bulls. EEASONS FOE FORMATION OF THE ASSOCIATION. 1. — The obvious necessity that farmers and all other producers, resident on the i West Coast of the North Island of New Zealand, should be able to dispose of their wool, frozen meat, grain, dairy produce,* flax, fruit, and any other pio^ucts 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 carrying on the business of a Co- Operative Association in all 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 any land, buildings, warehouses, for the storage of wool, gram, and produce of eyery description, sale yards, railway sidings, machinery, all necessary plant, stock in- trade, merchandise, and all such other real and property as by the directors for the time being shall be 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 and 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. 8. — To afford facilities to the shareholders and constituents of the Associat. ion for, or to undertake for them the shipment of their produce to the various markets of the world, and to appoint agsnts m 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 deposit at mtsreßt or otherwise. 5. — To sell, exchange, improve, manage, lease, mortgage, dispose of, or otherwise deal with all or any part of the property of the Association. ADVANTAGES o? the ASSOCIATION To secure to the farmers, graziers, aiid producers of tb.B West Coast, by cooperation, the benefits of interchange, which haye hitherto goae to the agents or distributors alone. By adopting the principle of co qperation in the formation of the Association, farmers, gra^iera, fiaxmillers, 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 ati the same time share in the profits of the Association, which, after payment of all expenses, will b 8 • long to and be distributed amongst the shareholders. The Association will collect and supply to shareholders agricultural and other statistics, prompt, disinterested, and re* liable information as to the state of and advantages offered by the various markets throughout tb.e world. The Association will seek to ally itself with other kindred institutions, and so by sharing the costs of agency in British, and foreign markets, reduce such costs, while increasing correspondingly the advantages to shareholders. The profits of the Association, after payment to the shareholders of a divi» dend not exceeding seven and a half per cent, per annum, and after making provision for writing off so much of the assets of the Association as may be deemed advisable and providing for a reserve fund, will be divided amongst the shareholders, according to the amount of business done by each with the Association, or according to any other system of divison as may from time to nme be approved of by a majority of shareholders at a general meeting of the Association. The annual reports nf other similar Associations show the satisfactory financial results which may be attained by such enterprises, and induces ihe belief in the minds of the promoters that equally satisfactory results may be achieved in this ; art of the colony, and while offering a cafe investment tor isupitnl that, the West Coast Farmers' Co-op<ratiye Association may become, not oi ly a source of profit to its shnre« holders and constituents, but also a great m<i permanent benefit to the farinprs, „'ruziers, and producers of the West Coast generally. JOHN STEVKNS, BiJOKEB, UDLLS.