Page 3 Advertisements Column 3

Gisborne Times, Volume XVIII, Issue 1482, 16 June 1905, Page 3

PEOSPECTUS OF! THE] GISBORNE FARMERS CO-OPERATIVE COY., . limited, ITlio Memorandum and Articles a ot Association were duly registered on the 20 tli .day, of February,, 1005,,

2. Tlio proposed Directors of tho Company who are .to hold office until the first Ordinary Meeting of the Company, whioli shall be held after the Statutory Meeting, if the Statutory Meeting shall confirm such appointment, are : J.OIIN CLARK, To Arai, Shcoj farmer. FHAN.Iv BRAYTON BARKER, Gisborne, Sheepfarmer. WALTER RICHARD BARKER Gisborne, Sheeplarmer. .WILLIAM KNOX CHAMBERS Rcpongaere, Shcepfarmcr. PHILIP THORNTON KEN.WAY, WhatuUPolio, Shcepfarmcr. CECIL ALBERT. DeLAUTOUR, Gisborne, Sheofifarmer. CHRISTOPHER JOHN PARKER, Te Arai, Sheepfarmer. WILLIAM TOMBLESON, Patutahi, Sheepfarmer. 3. The Broj er for the Company is Mr Thomas Coleman, of Gladstone road, Gisborne, Accountant. Id. .The objects and powers of .the Company are set out in the Memorandum of Association, which forms part of this Prospectus. 5 The Capital of tlio Company is £IOO,OOO, divided into 50,000 shares of .£2 each. Of Wiese 20,000 are Preference Shares, 30,000 are Ordinary Shares, total 50,000 Shares,. The rights' attaching to the vari- [ ous Qlasses of Shares aro iixed by the ! Memorandum of Association and the Articles of Association. The Preference Shares entitle the holders .thereof Subject .to .the creation and maintenance of a Reseijve Fund and for all tlio purposes of Articlo No, 0 hereunder, to a fixed cumulative preferential dividend at the rale of 8 ppr centum per annum .on the amount paid up thereon for .the time being. The Ordinary, Shares entitle the holders thereof : Subject to the creation and maintenance of a Resonve Fund and for all the purposes of Article ■No. 6 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 the..public 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 tne same may, be called up by the Directors in .accordance witu the Articles of Association. Or alternatively the applicant upon allotment may give a Promissory Note at six meatus with interest added at the rate of 6 per cent, for [the sum of 5s per. Share due upon allotment, and tne sum of 10s per Share due three months after, allotment. NOTE,, —The Promoters do. not consider, it will be -necessary or desirable to' call up more .than 20s per Phare, but they Uo not guarantee this or, assume in any way. to bind the Directors hereafter to be appointed by. tbe Shareholders. 7, The Company, lias privately, offered the Preference Shares to the Shareholders of the Gisborne Sheep r

farmers’' - Frozen Meat Company, .Limited, as required by the Articles of Association, and. 4.83!) Shares have been, subscribed, and the amount paid on such Shares is £11,259 lug. "The list of Subscribers to the date of the time of this Prospectus can be seen at the office of Mr .Thomas Coleman, in .Gladstone road.

8. The minimum subscription on which the Directors may proceed ‘to allotment is 7500 Shares (.inclusive „f the Shares already subscribed by, Shareholders in the Gisborne Sheepfarmers’ Frozen Meat .Company, Limited), This Company' has been formed for the purposes, of: First, enabling the Farmers fif the East Coast, by co-operation, in carrying on all kinds of Commercial and ‘Mercantile general business, inclusive of public and private sales of lands and live s.tock and shipping (as agents or otherwise),, to obtain for themselves the large profits now reaped by. other persons and companies in the sale an,d distribution of ail 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 expanses 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 10s per cent, on, all Shares of which he procures the subscription. 12. A. Director’s qualification alia 11 be 50 shares, and ho must also be a qualified Shareholder, 13. The Company has adopted ■Table A of “ The Companies Act, 1003,” except as added to and modified by, the general Articles of Association, which form part of this Prospectus. 14. Applications for Shares should bo sent to Mr Thomas Coleman, Interim Secretary, together with the amoupt payable on application. If no allotment is made the deposit will be returned in full, and if the number of shares allotted is less than the number applied for the balance of the application money will be applied in reduction of the allottee's .future liability on the Shares allotted. Cop.ies of the Prospectus and Forms of Application for Shares may, be obtained at the office of Mr Thomas Coleman. 15. This Prospectus has been duly filed with the Registrar, of Joint Stock Companies, (Signed) W. K. CHAMBERS. W. R. BARKER. ’ F. B. BARKER, C. A. DeLAUTOUR. JOHN CLARK. ‘ PHILIP T. KENWAY. WM. TOMBLESON. C, J, PARKERDated the 18th day of 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 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 : SHEEPFARMERS. Who own SOO sheep or upwards. Shares Every. 1000 sheep up to 15,000 ... 25 Every 1000 sheep over and up to 25,000 .. ... .. 15 Every 1000 sheep over 25,000 .. 10 FARMERS AND DAIRYMEN. Who own less than 500 sheep. Every 50 sheep '« 2 Every 10 acres held for oropping .. 1 Every 5 cattle beasts i No ; preference shares shall be allotted to any persons’ wbo are ’not “ qualified Shareholders,” or who with the shares eo allotted would become “ qualified Shareholders.” Copies of the Memorandum and Articles of Association may be seen at my office, Gladstone road. THOMAS A. COLEMAN, ’ ' 1 Interim Secretary.