Page 1 Advertisements Column 4

Gisborne Times, Volume XVIII, Issue 1474, 7 June 1905, Page 1

'■PROSPECTUS OK THE GISBORNE FARMERS’ UO-OPERATIVE COY., LIMITED, i.T'ho Memorandum and Articles • ol' Association were duly registered on the 20 tli’ day oi' February,, 1805 fl 2. Tlie proposed Directory ol’ thu Company who are to hold ollico .until the iirst Ordinary Meeting of the Company, which shall be held after , the Statutory. Meeting, it the Statutory Meeting shall confirm such appointment, are : JOHN CLARK,, To Aral* Sheepfanner. FRANK BRAY,TON BARKER,, Gisborne, Shoepfarmor. WALTER RICHARD BARKER, Gisborne,. Shoepfarmor. WILLIAM KNOX CHAMBERS, Rcpougaerc, Sheepfarmer. PHILIP THORNTON KENWAY,, Whataupoko, Sheepfarmer. CECIL ALBERT JDeLAUTOJJR*., Gisborne, Sheepfarmer. ' CHRISTOPHER JOHN PARKER, Te Arai„ Sheepfarmer. WILLIAM TOMBLESON, Patutahi, Sheepfarmer. 3, The Broker for the Company is Mr. Thomas Coleman, of Gladstone road, ,Gisborne, Accountant. 4- The objects and powers of .the Company are set out in the Mcmor- ] andiim of Association, which forms part of this Prospectus.

I 5 The Capital of the Company is [ £IOO,OOO, divided into 50,000 shares of £2 each. Of these 20,000 are Preference Shares, 30,000 are Ordinary Shares,, total 50,000 Shares. The rights attaching to the various classes of Shares are fixed by the Memorandum of Association and the : Articles of Association.

Tlie Preference Shares entitle the holders thereof Subject to the creation and maintenance of a Reserve Fund and for all the purposes of Article ■No. 6 hereunder, to a fixed cumulative preferential dividend at the rate of 8 pgr centum per annum on the amount paid up thereon for the time being. The Ordinary Shares cdti'tle the holders thereof Subject to the creation and maintenance of a Reserve Fund and for all the purposes of Article No. G hereunder, and subject to the right of holders of Preference Shares to a fixed non-cumulative Preferential dividend at the rate of 6 per centum per annum. 6. 15,161 Preference Shares and 2000 Ordinary Shares are now offered to thfijjuhlic for subscription, to be paid as follows : os per Share on application. I os per Share on allotment. | 10s per Share at three months alter allotment, and the remaining 20s per share shall be payable as the same may; be called up by, the Directors in accordance .witn the Articles of Association. Or alternatively the applicant upon allotment may, give a Promissory Rote at sis months with; interest added at the rate of 6 per cent, for

the sum of os per, Share due upon allotment, and the sum of 10a per Share due three months after, allotment. JNOTVE,, —The Promoters da not consider; it will be necessary or desirable to call up more than 20s per Share, but they do not guarantee this or assume in any way to bind the .Directors hereafter to ho app.oiiitecl by the Shareholders. 7„- The Company, has privately offered the Preference Shares to the Shareholders of the Gisborne Sheopfarmersi’* Frozen Meat Company, Limited, as reejuired by the Articles of Association, and 4839 Shares have been subscribed, and the amount paid on suah Shares is £1,259 15s. ‘.The list of Subscribers to the date of the time .of this Prospectus can. be seen at the office o£ Mr Thomas Coleman, in .Gladstone road. | 8. The minimum subscription on | which the Directors may proceed ‘to 'allotment is 7500 Shares (inclusive lof tho Shares already subscribed by Shareholders in the Gisborne Sheepfarmers’ Frozen Moat .Company, Limited), 9. This Company has been formed for the purposes of : First, enabling the Farmers gf the East Coast, by co-operation, in carrying oh all kinds of Commercial and Mercantile general business, inclusive of public and private sales of lands and live stock and shipping (as. agents or otherwise), to obtain for themselves the large profits now; reaped by other persons and. companies .in the sale and distribution of all kinds of farming produce, and (secondly) in the supply to farmers, retail storekeepers and the general public of all manner and kind of goods, chattels, and effects from time to time required. 10. The preliminary expenses of and incidental to the formation and establishment of the Company and until the Company shall be entitled to commence business are estimated to amount to £l5O, and will • he borne by the Company. 11. The Company, has agreed to pay to the Broker, a commission at the rate of not exceeding £2 10 s per cent, on all Shares of which he procures the subscription. 12. A Director’s qualification shall he 50 shares, and ho must also he a qualified Shareholder, , 13. The Company has. adopted Table A of ” The Companies Act, 1903,” except as added to and modi-

fled by the general Articles of Association, which form part of tills Prospectus. 14. Applications for Shares should bo sent to' Mr Thomas Coleman, Interim Secretary, together with the amount payable on application. If no allotment is made the deposit will be returned in full, and if the number of shares allotted is loss than the number applied for the balance of the application money will he applied in reduction of the allottee’s future liability on the Shares allotted. Copies of the Prospectus and Forms o£ Application for Shares may be obtained at the office of Mr Thomas Coleman. 15. This Prospectus has beeu duly filch with the Registrar. of Joint Stock! Companies. (Signed) W. I-C. CHAMBERS. W. R. BARKER. F.. B. BARKER. C. A. DeLAUTOUR. JOHN CLARK. PHILIP T. KENWAY. WM. TOMBLESON. C, J. PARKER-. Datqd the 18th day or May, 1905., Witness to the above Signatures— T. A.. COLEMAN, Accountant, Gisborne.

NOTE. A “ qualified Shareholder ” means any Shareholder being a Sheepfarmer. Farmer, or Dairyman holding shares constituting a qualification, according to the stock or agricultural anc held by him evidenced by the Govern ment Stock Returns .or Agricultural Statistics immediately prior to such shares being taken up, under the following scale ;