Page 3 Advertisements Column 3

Gisborne Times, Volume XVIII, Issue 1476, 9 June 1905, Page 3

PROSPECTUS OK THE GISBORNE FARMERS’ UO-OPERATIVE COY., limited..

-9 ,Tlio Memorandum and Articles it • pi' Association wore duly registered ou the 20 th .day. of February,; 1005* ' • , „ 2. Tbo proposed Directors or the Coin’pany who arc to hold office until the first Ordinary, ■Meeting oi the Company, “which shall' he held after the Statutory Meeting, if the Star •tutory. Meeting shall confirm sucli appointment, are : JOHN .CLAiR'Kju Tc Arai, Sheepfarmer. FRANK BRAYTON BARKER, Gisborne, Shoepfaemer.. WALTER RICHARD BARKER, Gisborne, Shoopfarmer. WILLIAM KNOXi CHAMBERS, Repongaere, Slieepfarnier. PHILIP THORNTON KEN,WAY, Whabaupobo, Sliocpfarmer. CECIL ALBERT DoLAUTOUR, Gisborne, Sheopf armor. CHRISTOPHER JOHN PARKER, To Arai, Shcepfarmer. WILLIAM TOMBLESON, Patuhalii, Shcepfarmer.

3. 'l'iic Broker, for the Company is Mr Thomas Coleman, oi' Gladstone road, Gisborne, Accountant. 4. ,Tliq objects and powers of the Company are set out in the Mornor•audum of Association, which forms part of this Prospectus. 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 i total 50,000 Shares. The rights - attaching to the various classes of Shanes are fixed by the Memorandum of Association and the Articles of Association. Tho Preference Shares entitle the holders thereof :■— Subject to tho creation and maintenance of a Reserve Fund and for all the purposes of Article [No. 0 hereunder, to a fixed cumulative preferential dividend at the rate of 8 per centum per annum on the amount paid up thereon for the time being. Tho Ordinary Shares entitle the holders thereof : Subject to the creation and maintenance of a Reserve Fund aud for all the purposes of Article No. 6 hereunder, and,subject to tho right of holders of Preference Shares to a fixed non-cumulativo Preferential dividend, at the rato of 8 .per centum per annum. G, 15,161 Preference Shares and

2000 Ordinary Shares are now ottered to t-lie.JWiblic for subscription, to be paid as follows : 5s per Share on application. 5s per Share on allotment. 10s per Share at three months after allotment, and the remaining 20s per share shall be payable as the same may, bo called uj> by the Directors in accordance witu

the Articles o£ Association. Or alternatively the applicant upon allotment may give a Promissory Note at six; months with interest added at the rate o£ 6 per cent, lor rthe sum ol' 5s per Share due upon allotment, arid the sum of 10s per Share duo three months after allotment. EOTE, —The Promoters do not consider! iit 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- bin'd the Directors hereafter to he appointed by the Shareholders. 7. The Company has privately,' offered the Preference Shares to the Shareholders of the Gisborne Sheepfarmers” Proven .Meat Company, ■Limited, as required by the Articles of Association, and 4839 Shares have been subscribed, an'd the amount paid ■on such Shares is £1,259 15s. 'The list of Subscribers to the date of tbo time of this Prospectus can he seen at' the office ot Mr Thomas Coleman, in Gladstone road. 8- The minimum subscription on which the Directors may proceed ‘to allotment is 7500 Shares (inclusive of the Shares already subscribed by Shareholders in the Gisborne Sheepfarmers’ Eroz.cn Meat .Company, Limited)i , 9a .This Company, has been formed tor the purposes of : ' First, enablng .the Farmers _Qf the East Coast, iy, co-operation, in carrying on all finds of Commercial and Mercantile mneral business, inclusive of public uid private sales of lands and live stock and shipping: (as agents or otherwise),, to obtain tor themselves >he largo profits nowi reaped by other jersons and companies in the sale and distribution of all kinds of farmLng produce, and (secondly) in the supply, to farmers,, retail storekeepers anil the general public pf all manner and kind of goods, chattels, and ehocts from time to .time required. _ 10, The preliminary, expenses ol and incidental to the foimationl and establishment of the Company and until tbo Company shall be entitled to commence bu»iness arc estimated bo amount ibo £l5O, and Will he borne by ,the Company. 'll, The Company, has agreed to pay, to the Broker, a commission at the rate of not exceeding £3 10s per cent.; on all Shares of which he procures the subscription- .. , ... 12. ‘A Director’s qualification Shall •bo 50 shares, and he must also bo a qualified Shareholder,. . 13., The Company, has adopted Table Aof The Companies Act, 1903," exoeuii as' aiWcd to and. mocufiod by the general Articles of Association, which form part of this

Prospectus. . ... 11. Applications for Shares should ho sent ho Mr Thomas Colcauau, Interim Secretary, together with the amount payable on application. U no allotment is made the deposit Will be returned in fell, and if the num. her of shares allotted is loss than the number applied for the balance of the application, money will be applied in reduction of the allottee s future liability ou the Shares allotted. Copies of the Prospectus ami JForms of Application for Shares may he obtained at the office ol Ml'

Thomas Coleman. 15. This Prospectus lias been duly Clod with. the Registrar, o£ Joint Stock 1 Companies. k CHi . ambers . W. R. BARKER, p. B. BARKER. C. A l . McLAUTO.URJOHN CI/ARK. PHILIP T. KEN WAY. WM. TOMBLBSON.. C. J. PARKERDaled the 18th tlay oi May, 1005., Witness to the above Signatures'— ,T. A- COLEMAN, Accountant, Gisborne*

NOTE. A *• qualified Shareho del* ” means any Shareholder being a Sheepfarmer, Farmer, or Dairyman he-ding shares constituting a qualification, according to the Btock or agricultural and held by him evidenced by the Government Stock Returns or Agricultural Statistics immediately prior to such shares being taken up, under the following scale : SHEEPFABMERS. Who own 500 sheep or upwards. Shares Every 1000 sheep up to 15,000 ... 25 Every 1000 sheep over 15,000 and j up to 25,000 .. •• . . 15 Every 1000 sheep over 25,000 • • 10

FARMERS AND DAIRYMEN. Who own lees than 500 .sheep. Every 50 sheep .. .. .. 2 Every 10 acres held for cropping .. 1 Every 5 cattle beasts .. .. .. 1 No t preference shares shall be allotted to any persons who are not “ qualified Shareholders,” or who with the shares so allotted would become “ qualified Shareholders.” Copies of the Memorandum and Articles of Association may be seen at my office, Gladstone road. THOMAS A. COLEMAN, Interim Secretary.