Page 4 Advertisements Column 3

Feilding Star, Volume XIII, Issue 46, 15 October 1891, Page 4

PROSPECTUS of the WEST COAST FARMERS" £© ~ OPERATIVE ASSOCIATION "(Limited): To be incorporated under the provisions i of " The Companies Act, 1852." Capital— £2oo,ooo, in 40,000 shares of £5 each, with power to increase. FIRST issue of 20,000 shares are of-ferc-d for subscription, in respect of which 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 no; less thau Ihree 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 o£ application. Temporary office : Waxganui. PbOVISIONAL JjIHECTOBS : Wanganui.— Hon. John Bryce, Messrs T, Higeie, E. E. Fletcher, H. N. Harris son, Alexr. Hi^gie. Wayerley.— Messrs W. Wilson, G. Death, James Aitken, Waller Symes, Duncan Macdonahl. Marton and Bulls. — Messrs John TV". Marshall, Donald Fraser, Geoffrey Pelts, David Scott, John Mclvelvie, John T, Dalrymplc, A Cruickxhank, W, A, KeilIcr, Arthur Amon, James Howard, James O : Lilly, Alfred Koss. Feilding and Haleombe.— Major F. Moore, Messrs Albert IT. Finnis, Charles FitzHerbert, H. L. Sherwill, Lewis S. Browne, Walter Johnston'^, W. A. L. Bailey, John Pollock, William Mills, Owen Pleasants, H- Jacobs, J.E.John stone, Alex. Bell, D, G, Eiddiford, Robert Linton. Palmerston North. — "Messrs William Coombs, John Cotter, Eickard O. E. Carey, Peter Stewart, G. Ecvinglon Jones, A. Russell, Ed«vard John Arm* strong. Sindon nnd Carnarvon. — Messrs J. A. Bailey, James Bull, Eobert B. McKenzie, Alex. McDonell, Tom McEenzie, B. S, Penny, Henry Hammond. Duncau D. McELenzie. Bankers : The Bank of Few South Wales Solicitor : Mr T. E. Cash, Hi»h street, Marti 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. I.— The obvious necessity that farmers and all other producers, resident on the "West Coast of the North Island of NewZealand, should be able to dispose of their i wool, frozen meat, grain, dairy produce, flax, fruit, and any other pi'-lucts 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 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 tho Memorandum and Articles of Association will cnahlo 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 property as by the directors for the time being shall be deemed necessary or convenient for carrying on the business of tho Association. 2. — To sell either by public auction or by private contract, livo 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 shareholders and constituents of the Association for, or to undertake for thorn the shipmont of their produce to tho 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 othor 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 doposit at interest or otherwise. 5. — To sell, exchange, improve, manage, lease, mortgage, dispose of, or otherwise deal with all or any part of tho property of the Association. ADVANTAGES or tiie ASSOCIATION To secure 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 tho Association, farmers, graziers, flaxrnillers, 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 tho 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 res liable information as to the state of and advantages offered by Iho various markets throughout ihe 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 ihe 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 assets of the Association as may bo deemed advisable and providing for a reserve fund, will be divided amongst the shareholders, according to tho 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 satisfaciory financial results which may be attained by such enterprises, and induces (he belief in the minds of the promoters that equally satisfactory resulls may be achieved in this j art of the colony, and while offering a safe investment ior capital that, the West Coast Farmers' Co opcivitiye Association may become, not only a source of profit io its share holders and constituents, but also a great and penuaiicnt benefit to lhe fanners, graziers, and producers of the WcA Coast generally. JO lift' STEVENS, Bil'JKliH, I'VLLS,