Page 3 Advertisements Column 3

Gisborne Times, Volume XVIII, Issue 1485, 20 June 1905, Page 3

PROSPECTUS OK THEj GESBORME FARMERS’ CO-OPERATIVE COY. limited.

JTho Memorandum and 'Articles .o of Association wore duly registered on tlio 20th day. of February,, 1,J 2 5 ''t1io proposed. Directors of the Company who arc to until the first Ordinary Meeting of the Company, which shall be held after the Statutory Meeting, if the Statutory Meeting shall confirm such appointment, are : JOHN' CLARK, .To Aral, SlioepFRANK° r ‘ BRAYTON BARKER, Gisborne, Sliccpfaruier. WALTER RICHARD BARKER, Gisborne, iSlicepf&rruer. WILLIAM KNOX CHAMBERS, Renongaere, Sheepfarmcr. PHILIP THORNTON KENVVAY, Whataupoko, Sheepfarmor. CECIL ALBERT, DeLAUTOUR, Gisborne, Shcopfarmer. ■ • CHRISTOPHER JOHN PARKER, Te Arai, Sheepfarmer. WILLIAM TOMBLESON, Patutalii. Sheepfarmer. 3. The Broker for the Company is Mr Thomas Coleman, of Gladstone road, Gisborne, Accountant. d, .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 or ,£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 Mcmoranclum of Association and liiic Articles of Association. The Preference Shares entitle the holders thereof : Subject to the creation and maintenance of a Reseiivo Fund and for all tho purposes of Article No. 6 hereunder, to a fixed cumulative preferential dividend at the rate of S 'per centum per annum, on the amount p.aid .up thereon for the time being. The Ordinary, Shares entitle 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 tho right of holders of Preference Shares to a fixed non-eumulativo preferential dividend at the rate of (i per. centum per annum. G. 15,101 Preference Shares and

2000 Ordinary Shares arc now oiierod to thC-JJ,ublic for subscription,, to be paid as follows :

os per Share on application. ; 5s per Share on allotment. 10s per Share at three months al'tec allotment, and the remaining 20s per share shall bo payable aiT the same may; be called up by, the Directors in accordance .with the Articles oi Association. Or alternatively, the applicant upon allotment may. give a Promissory. Note at sis rnontns with interest added at the rate of 6 per cent, for the sum of os per Share due upon allotment, and tne sum of 10s per Share duo three months after, allotment. NOTE,,—The Promoters do not consider, it' will be necessary . or desirablo to call up more than 20s per ishare, but they, do not guarantee this or assume in any way. .to- bind •the Directors hereafter to ho appointed by the Shareholders. 7. The Company has privately offered the Preference Shares to the Shareholders of the Gisborne Sheepfarmers" Prozen Meat Company, Limited, as required hv the Articles of Association, and 1839 Shares have been subscribed, and the amount paid on suolr Shares is d 11,259 15s. ‘The list of Subscribers to the date of the time of this 'Prospectus can be seen at the office oi 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.)., 0, This Company has been formed foe the purposes of : First, enabling the Farmers fif the East Coast, hv co-operation, in carrying on all lands 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 pf all manner, and kind .of goods, chattels, and effects from time .to time required. 10. The preliminary expenses ol and incidental to the formation and establishment of the Company and until the Company, shall be entitled to commence business axe estimated, to amount to £l5O, and SViU bO borne by the Company. 11. The Company, has agreed to pay, to the Broker a commission at the rate of not exceeding £2 10s percent, on all' Shares of which he pro-' cures the subscription. 12. A Director’s qualification shall bo 50 shares, and he must also he a qualified Shareholder, 13. The Company has adoptod Table A of The Companies Act, 1903,” except as added to and modified by, the general Articles of Association, which form part of ’■> this Prospectus. \ , , 14. Applications for Shares should he sent to Mr Thomas Coleman, Interim Secretary, together with the amount payable on application. If i 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 aliot- ‘ tod. Copies of the Prospectus and i 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 o£ Joint Stock? Companies. (Signed) W. K. CHAMBERS. W. R. BARKER. F. B. BARKER. C. A, DcLAUTOUR. JOHN CLARK. PHILIP T. KENWAY. WM. TOMBLBSON. 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, aoaording to the stock or agricultural and held by him evidenced by the Government Stcck Returns or Agricultural Statistics inrimodiat-ly prior to Btich shares being taken up, under the following scale : SHEEPFABMERS. Who own 500 sheep or upwards. Shares Every 1000 sheop up to 15,000 ... 25 Every 1000 sheep over 15,000 and up to 25 000 . • .. .. 15 Every 1000 Eheep 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 cstt'o beasts .. .. .. 1 2no .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. XEQMAS A. COLEMAN, Interim Secretary.