Page 4 Advertisements Column 3

Feilding Star, Volume XIII, Issue 26, 29 August 1891, Page 4

PRO3PECTUS or the WEST COAST FARMERS' CO - OPERATIVE ASSOCIATION (Limited). To be incorporated under the provisions of *' The Companies Act. 1882." Capital— £2oo,ool), in 40.000 shares of £5 ! each, with power to increase. I FIRST issue of 20,('0() shares are offered for subscription, in respect of which it is only proposed to call up 25s per share, payable as follows, viz. :— ss on application, 5s on allotment, and the balance up to 25s per share in calls of 5s per share, to be made at intervals of no; less than three months. The balance of 7s*> per share will remain as a reserve of uncalled capital It is not proposed to register the Association uniil at least 4000 shares are subscribed for. In al* lotting shares regard will be had to priority ot application. Temporary office : Wanganui. Pbovi'kional Dihectoes : Wanganui. — Hon. John Bryce, Messrs T, Higfiie, E. E. Fletcher, H. N. Harri» son, Alexr. Higgie. , Wayerley. — Messrs W. Wilson, G. Death, James Aitken, Walter Symes, Duncan Maedonald, Marton and Bulls. — Messrs John W. Marshall, Donald Fraser, Geoff rey Potts, David Scott, John McKelvie, John T, Dalrymple, A Cruickshank. W, A, Keiller, Arthur Amon, James Howard, James O Lilly, Alfred Ross. 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, 1 Owen Pleasants, H- Jacobs, J. R John stone, Alex. Bell, D. G. Riddiford, Robert Linton. Palmerston North. — Messrs William Coombs, John Cotter, Rickard O. E. Garey, Peter Stewart, G. Eevmgton 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. M cKenzie: • Bankers : The Bank of New South Wales Solicitor : Mr T. R. Cash, High street, Marton. Managei : To be appointed after first , meeting of shareholders. Secretary: (pro tern) Mr Walter Smail, Wanganui. Broker: Mr John Stevens, Bulls. REASONS FOR FORMATION OF THE ASSOCIATION. 1. — The obvious necessity that farmers and all otber producers, resident on the 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 piosracts at greatly reduced rates of commission, and L be able to purchase all farm and station requirements at cost price, plus 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, grain, and produce of eyery description, sale yards, railway sidings, machinery, all necessary plant, stock in-trade, merchandise, and all such other real and 'personal property as by the directors for the time being shall be deemed necessary or convenient for carryicg 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. 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 ag6nts 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 deposit at interest 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 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 j 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 A ssociation 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 the world. The Association will seek to ally itself with other, kindred institutions, und so by sharing the costs of agency in British and foreign markets, reduce such costs, while increasing correspondingly ihe ad vantages to shareh'lders. The profits of the Association, after payment to the shareholders of a dividend not exceeding seven and a half per cent, per annum, and after making pro-- ! Vision 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 diyison ns may from time to time be approved of by a majority of shareholders at a general meeting of the Association. The annual reports of otlier similar Associations show the satisfactory financial results which may be attained by such enterprises, and induces the Lfl iff in the minds of the promoters that equally satisfactory results may be achieved in this ; ai t of the colony, and while offeiing a safe investment lor capital that, the West Coast Farmers' Co-operatiye Association may become, nut only a source of profit lo its slime-

h )ldn*.s and constituents, but also a great anH permanent benefit to the farmers, graziers, and producers of tlie "VvA't Coas-t generally. JOHN STEVKNS. iiBoKhR, Bulls.