Page 4 Advertisements Column 3

Feilding Star, Volume XIII, Issue 36, 22 September 1891, Page 4

PUOSPECTUS of thb*WEST COAST ' FARMERS' CO - OPERATIVE ASSOCIATION (Limited). To.be incorporated under the provisions of " The Companies Act, 1882." Capital— £2oo,ooo, in 40,000 shares of £5 each, with power to increase. FIRST issue of 20,<'00 shares are offersd for subscription, in respect of which it is only proposed to call up 25s per sk:ire, payable as follows, viz : - o> on application, 5s on allotment, and the balance up to 25s per share in oalls of 5s per share, to be made at intervals cf no; less than three months. The balance of 75s ppf 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 applicat'on. Temporary office : Wanganui. Provisional JJieectoes : Wanganui.— Hon. John Bryce, Messrs T, Higgle, E. E. Fletcher, H. N. Harrison, Alexr. Hiagie. Wayerley —Messrs W. Wilson, G. Death, James Aitken, Walter Symes, Duncan Macdonald, Marton and Bulls.— Messrs John W. Marshall, Donald Praser, Geoffrey Potts, David Scott, John McKelvie, John T, Dnlrymple, A Cruickshank, W, A, Keiller, Arthur Amon, James Howard, James O Lilly. Alfred Ross. Feilding and Halcombe.— Majnr F. Moore, Messrs Albert H. Finnis, Charles Fitzlierbert, 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, Riddiford, Robert Linton. Paimerston North. — Messrs William Coombs, John Cotter, Rickard O. E. Carey, Peter Stewart, G. Revmgton Jones, A. Russell, Edward John Armstrong. Sandon and Carnarvon. — Messrs J. A. Bailey, James Bull, Robert B. McKenzie. Alex.. McDonell, Tom McKenzie, B. S, Penny, Henry Hammond. Duncan 1). McKenzie. Bankers : The Bank of New South Wales Solicitor : Mr T. R. Cash, High street, Marton. Manager : 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 then wool, frozen meat, grain, dairy produce, flax, fruit, and any other pia<iucts at greatly reduced rates cf commission, and be able to purchase all farm and statior requirements at cost price, plus actual expenses. 2. — The successful results achieved by Co-Operative Associations in other count' ries and in ofcher 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 i Co- Operative Association in all its branches, including the direct importatior and supply of farm and other station requisites, and the Memorandum anc Articles of Association will enable th< Association. — .1. — To purchase, lease, exchange, hire or otherwise acquire and construct anj land, buildings, warehouses, for the storage of wool, gram, and produce o: eyery description, sale yards, railwaj sidings, machinery, all necessary plant stock in- trade, merchandise, and al. such other real and property as by the directors for the time being shal be deemed necessary or convenient foi carry it g on the business of the As. sociation. 2. — To sell either by public auction oi 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 aud conditions as the directors may from time to time appoint. 3.— 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 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 oi persons upon real and personal securities, as may from time to time be approved oi 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, aud 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 Associ tl >n, farmers, graziers, flaxmillera, aiju 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 market?, and at the same time share in the profits of the Association, which, after payment of. all expenses, will belong 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 ihe world. The Association will seek to ally itself with other kindred institutions, an-1 so by sharing the costs of agency in British and foreign markets, reduce such costs. while increasing correspondingly ihe 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 innum, and after making provision for writing off so much of the assets of the Association as may be deemed advisable and providing for n reserve funri, 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 as may from time to time be approved of by a majority of shareholders at a general meeting of the Association. The annual reports of other similar Associations show the siitisfnciory financial results which rn.'iy be attained by such enterprises, and induces tlu j belief iv the minds of the promoters thai equally satisfactory results mr.y be Mchieved in this 4 >ut of the colony, and while offerinfc a «afe investment tor ■Mi'iUl thai, the West (.'oast Farmers' J L'o oj fr itiyf? A.«sf-ri;it!on rn.iy become, nol on'j ,-i ~ourt:c of profit !o lt> -)';i-p-Uolder-; nrid coiistitui-nis, but .-i ! > ■ n «rrcn i tin^ ]'"innr,ent l>en»-fjt. to the hirnuT". graziers, an. l ];roriuceis <i (lie \\".'>i Coast generally. JOHN ifTKVK>S, Bkmici ij. IS;'i,r,>.