Page 5 Advertisements Column 3

Feilding Star, Volume XIII, Issue 41, 3 October 1891, Page 5

PROSPECTUS of the WEST COAST 1 FARMERS' CO - OPERATIVE ASSOCIATION (Limited). Po 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 20,000 shares are offered for subscription, in respect of !rhich it is only proposed to call up 25s per share, payable as follows, viz. :— 5s 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 not less than three months. The balance of 75s per Bhare will remain as a reserve of uncalled capital. It is not proposed to register tho Association until at least 4000 shares are subscribed for. In al» lotting shares regard will be had to priority ot application. Temporary office : Wangantji. Pbovisional JDieectobs : Wnneanui. — Hon. John Eryce, Messrs T, HL'iiir, K K. Fletcher, H. JN . UavrN si.n, AU-xiv Higgle. VVayerley. — Messrs W. Wilson, G. Death, James Ailken, Waller Symes, Duncan Macdonaid, Minion and Bulls. — Messrs John W. Marshall, Donald Fi-a-cr. Gooffivy Poits, David Scoit, Join* McLTsMvi«>, Joim 'i. D:ilim Hi] :h ", A. Ci uu-k>>litmk, W, A, K«il-ii-r, Aitb.ur Anmn. .huvoa ! lon an!, J rimes O Lilly. AllVfil JJos.-s. FeilJnm sir.d llnliy.mbp.— M:>j r i ; \ Tvlo^rc. MosriiM Al crt H. Fiiuiis. Jluii'ls-s FilzllorbeH, !f. L. Sherwiil, L<\vis S. Browne. Waiter .Jolin.slone. \V. A L Baiiey, Joim. Pollock, William .Mills, Owen !'le;i-;i!;ts, U JaeoK .1. H .Jo 1 » stone, Alex. Bcih D, G. KiduLl'orih I Robert Lititon. j PtilniiTston Tsorth. — Messrs William Coouib--, Julifi Culler. Ricbml O !' . Carev, iVler Sfcwart, G. Keviii^ioi! Jv.-iies, A. Russell, Edward John Arm* strong. Sssridon and Carnarvon. — Messrs .1. A. : Bailey, James Bull. Robert B. MeKcnzie, Alex. MrDonell, Tom MeKcnzie, B. S, Penny, Henry Hammond. JJuucan D. ' A'J cEenzie. Bankers : The Bank of JN>w South Wales Solicitor: Mr T. R. Caah, High street, Mart' n. 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 other 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 ofcber piquets at greatly reduced rates cf commission, and be able to purchase all farm and station requirements at cost price, plus actual expenses. 2. — The successful results aehieyed 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 acquiro 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 [personal property as by the directors for the time being shall be deemed necessary or convenient for carrying on tho 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 tho shareholdors and constituents of the Associate 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 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 Bell, 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, tho benefits of interchange, which haye hitherto gone to tho agents or distributors alone. By adopting tho principle of co operation in the formation of the Association, farmers, graziers, flaxmillors, and all other producers, who are shareholders and constituents, may sell their products and buy what farm and station requisites they severally require in tho most favourable markets, and at tho same time share in the profits of the Association, which, after payment of all expenses, will bolong to and bo distributed amongst the shareholders. Tho 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 (he vurious markets throughout ihe world. The Association will seek to ally if self with other kindred institutions, and so by sharing the costs of auency in British and foreign markets, reduce such costs, while increasing correspondingly the advantages to shareholders. The vrofits 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 o£ tho assets of the Association as may be deemed advisable and providing for a reserve fund, will be divided amongst the shareholder, according to the amount of business done by each with the Association, or according to any other system of diyison as may from timo 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 satisfactory financial results which may be attained by such enterprises, and induces the belief in the minds of tho promoters that equally satisfactory results may be achieved in this part of the colony, and while offering a safe investment tor capital that, the West Coast Farmers' Co-operatiye Association may become, not only a source of profit to its shareholders and constituents, but also a great and permanent benefit to the farmers, graziers, and producers of the West Coast generally. JOHN STEVENS, Bbokee, Bum,B.