Page 4 Advertisements Column 3

Feilding Star, Volume XIII, Issue 43, 8 October 1891, Page 4

PROSPECTUS or the WEST COAST FARMERS' CO - OPERATIVE ASSOCIATION (Limited) To be incorporated under tke provisions of •' The Companies Act, 1882." Capital— £2oo,ooo, in 40,000 shares o£ £5 each, with power to increase. FIRST issue of 20,000 shares are offered for subscription, in respect of which it is only proposed to call up 25s per share, payable as follows, viz. : —os on application, 5s on allotment, and the balance xi-p to 25s per share in calls of 5s per share, to be made at intervals of not less than three months. Tb.6 balance of 75s per share will remain as a reserve of uncalled capital. It- is not proposed to : register the Association until at least 4000 shares are subscribed for. Iv aU I lotting shares regard will be had to ■ priority ot application. Temporary office : Wasganui. Provisional Di kkctobs : I Wansjanui.— Hon. John Bryee, Messrs : T, Higgle, E. E. Fletcher, 11. iN T . Harri- ! son, Aiesr. Higgle. Wayeriey.— Messrs W. Wilson, G. Death, James Aitken, Walicr Symes, • Duncan Macdonalri, ! Marton and Bulls.— Messrs John W. Marshall, Donald Fraser, Geoffrey Potts, David Scott, Joha McET.eivie, John T, Dairy niple, A Cruiclishank, W, A, Kciller, Arthur Amon, James Howard, James O. Lilly, Alfred Ross. Feildiug and Halcombe.— Major F. Moore, Messrs Albert H. Finnis, Charles Fitzßerbert, H. L, Sherwill, Lewis S. Browne. Walter Johnstone, W. A. L. Bailey. John Pollock, Wilham Mills, Owen Pleasants, H. Jacobs, J. R. Jobnslone, Alex. Bell, D, G, Riddiford, Robert Linton. Palmerstou Korth.— Messrs William Coombs, Johu Cotter, Rickard O. E. Carey, Peter Stewart, G. Revmgton Jones, A. Russell, Edward John Arm« strong. Sandon and Carnarvon. — Messrs J. A. Bailey, James Bull, Robert B. McKenzie, Ales." MeDonell, Tom MeKenzie, B. S, Penny, Henry Hammond. Duncan D, McKenzie. 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. l._ 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 pio3ucts at greatly reduced rates of commission, and be able to purchase all farm and station requirements at cost price, plus actual expenses. 2. — The successful results achieyed 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 import&tior and supply of farm and other station requisites, and the Memorandum anc Articles of Association will enable the Association, — 1, — To purchase, lease, exchange, him or otherwise acquire and construct anj land, buildings, warehouses, for the storage of wool, gram, and produce oJ eyery description, sale yards, railwaj sidings, machinery, all necessary plant, stock in-trade, merchandise, and al3 such other real and -personal property as by the directors for the time being shall be deemed necessary or convenient f oi carrying on the business of the As< sociaiion. 2. — To sell either by public auction oi by private contract, live etoek of every description, all farm and station products and requisites, implements, machinery; chattels, and effects of all kinds, upon sucli terms aud 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 col. onies, 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 oh deposit at interest or otherwise. o. — To sell, exchange, improve, manage, lease, mortgage, dispose of, or otherwise dßal with all or any part of the property of the Association. ADVANTAGES of the ASSOCIATION To secure to the farmers, graeiera, aDd producers of the West Coast, by cooperation, the benefits of interchange, which haye hitherto gone to the agents or distributors alone. By adopting the principle of co operation m tho formation of the Associafaon, 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 m the most favourable markets, and at the same time share m 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 res 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, 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, aDd after making provision for writing off so much of the assets of the Association as may be deemed advisable and providing for a reserve f and, 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 satisfactory financial results which may be attained by such enterprises, and induces the belief in the minds of the 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, Bulls.