Page 4 Advertisements Column 3

Feilding Star, Volume XIII, Issue 45, 13 October 1891, Page 4

PROSPECTUS of the WEST COAST FAEMEKS' CO - OPEEATIVE ASSOCIATION (Limited). To be incorporated under the provisions of •'• The Compauies Acl, 1882." Capital— £200,000, in 40,000 shares of £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. :— ss on application, 5s on allotment, and the balance up to 25s per share in calls of 5s per share, to be mode at intervals of not less than three months. The 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. In al» lotting shares regard will be had to priority ot application. Temporary office : Wanganui. Pbovisional Dibectoes : Wanganui. — Hon. John Bryce, Messrs T, Higcie, E. E. Fletcher, H. N. Harri* .son, Alexr. Hipgie. Wayerley.— Messrs W. Wilson, G. Death, James Aitken, Walter Syines, Duncan Maedonald. Marton and Bulls. — Messrs John W. Marshall, Donald Fraser, Geoffrey Potts, David Scott, John McETelvie, John T, Dairy mple, A Cruickshank, W, A, Kcil- > ler, Arthur Anion, James Howard, James O. Lilly, Alfred 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 I'leasants, H- Jacobs, J. 11. Johnstone, Alex. Bell, D. G, Eiddiford, Robert Linton. Rilnierston North.— Messrs William Coombs, John Cotter, Eickard O. K. Carey, Peter Stewart, G. Eevmglon Jones, A. Eussell, 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 JL). McKcnzic. Bankers : The Bank of New South Wales 1 Solicitor: Mr T. 11. Cash, High street, Martf n. Managei : To be appointed after first i meeting of shareholders. Secretary : (pro tern) Mr Walter Sinail, Wanganui. Broker: Mr John Stevens, Bulls. REASONS FOE FOPvMATION OF THE ASSOCIATION. 1. — The obvious necessity that fanners ' and all other producers, resident on the 1 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 piHucts at greatly reduced rates cf commission, and be able to purchase all farm and station requirements at cost price, plus actual ex--1 penses. 2. — The successful results achieved by Co-Operative Associations in other count - ' ries 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 carryiug 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 every description, sale yards, railway | Sidings, machinery, all necessary plant, stock in-trade, merchandiee, and all i such other real and 'personal 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, machmeiy, 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 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 maj 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 or the ASSOCIATION To securo to the farmers, graziers, and 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 in the formation of the Association, 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 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 Association will collect and supply to shareholders agricultural and other statistics, prompt, disinterested, and rc> 1 liable information as to tho state of and advantages offered by the vnnous 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 dividend not exceeding seven and a half per cent, per annum, and after making provision for writing off so much of the nssets o£ the Association as may be deemed advisable and proridiug for a reserve fund, will be divided amongst the shareholder. 1 ;, 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 lime be approved of by a innjority 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 equal!}' satisfactory results may be achieved in this fart of tho colony, and while offering a safe investment lor japital that, tho West Coast Farmers' Coopentliye Association may become, not only a source of profit to its shareholders and constituents, but also a great nnHl permanent benefit to the farmers, graziers, and producers of the West Coast generally. JOHJS STEVENS, Brokeh, Bums.