Page 3 Advertisements Column 4

Gisborne Times, Volume XXIII, Issue 1799, 3 July 1906, Page 3

PEOSPEGTUS

THE GISBORNE TIMES COMPANY, LIMITED ncorporated undor “ The Companies Act, 1903.”)

CAPITAL : £IO,OOO, divided into 10,000 Shares of .£1 each. DIRECTORS : John Thomas Partridge of Gisborne, Settler; William lie. sant Clayton, of Gisborne, Agent George Grant, of Gisborne, Civil Engineer; William Tombleson, of Patutahi, Sheepfarmer; Reginald Gerard Hallamorc, of Gisborne, Shipping Agent ; Hamilton Thomas Jones, of Gisborne, Journalist ; and Waller James Payne Gaudin, of Gisboroe, Journalist-

BANKERS : The Union Bank of Aus tralia, Limited. SOUCI TORS : Messrs Blair and Sains, bury, Gisborne. AUDITORS : Messrs Thomas Alexander Coleman and Herbert Mus grave Porter, both of Gisborne.

SECRETARY (pro. tern.): William Lissant Clayton. i, The Company has been formed ; (a) To purchase as from the second DAY of JULY, 1906, the business as Proprietors and Publishers of the Gisborne Times and General Printers, carried on by Messrs Jones and Gaudio, together with the leasehold premises, plant, slock, and other business assets of the firm, and goodwill of the business, upon the terms set out in the contract mentioned below. All debts due to, and liabilities incurred by the Vendors, as on the said date remain payable to and by the Vendors. Part Section 58, Peel street, also remains the property of the Vendors. (b) To carry on su _ h business, and to develop and extend the business in the modes authorised by the Memorandum of Association, which contain wide and useful powers in this respect. (c) To purchase up-to-date machinery and plant.

I (d) To control the policy of the paper so that it may give exac* I and fair reports to the exponents of all shades of opinion, and to give such especial attention to the interests of the farming community as may be deemed advisable, With these ends in view the DiI rectors have the right to decline to permit any person of whom they do not approve to acquire shares by any means. 2. After providing for a reserve, profits are to be divided as follows First, in payment of a dividend not exceeding £8 per centum on the paid-up capital.

Second, in payment of a bonus or discount of not more than £5 per centum on alt business (over £5) contributed by shareholders holding 50 shares or more. Third, in payment of any further dividend that may be sanctioned.

I 3 The following contract has been entered into, namely Contract dated the ißth day of May, 1906, between Hamilton t homas Jones and Wal ter James Payne Gaudin, both of I Gisborne, in >ew Zealand, Journalists, as Vendors, and William Lissant Clayton and John Thomas Partridge, for and on behalf if the Company, as purchaser for the sale of the above mentioned business, property and goodwill to the Company. The purchase price payable to the Vendors under such contract is £3500, of which £IOOO is payable in cash, and £2500 by the issue to the Vendors of 2500 fully paid up shares in the Company. Of the said sum the amount payable for goodwill is £1750. m equal shares, and have been paid £IOO on account of the £IOOO above mentioned. The basis on wh'ch the Company is established is that the Company shall carry out the above agreement (with or without modification) and every member joins on that basis.

4 A copy of the memorandum of Association of the Company, with the names, descriptions, and addresses of the subscribers is annexed hereto, and forms part of this prospectus. 5 Copies of the above-mentioned contract, and of the Company’s memorandum and Articles may be inspected at the offices of Messrs Blair and Sainsbury during usual business hours.

6. The number of shares fixed by the Articles as the qualification of Director is 50. The Articles contain the following provision as to the remuneration of the Directors :

“As remuneration for their services the Directors shall be paid out of the funds of the Company such sum as may be fixed by the Company in general meeting, and such remuneration shall be divided among them in such pro» portions and manner as they shall from time to time agree upon.”

7. The minimum subscription on which the Directors may proceed to allotment is two thousand shares.

8. Except as already slated no shares are issued or agreed to be issued otherwise than for cash, and no debentures are issued or agreed to be issued. 9. The amount payable by the Coni' pany for procuring subscriptions for the shares offered to the public is 2J per cen turn on the amount thereof.

10. The estimated amount of preiminary expenses is JGISO. 11. Messrs Jones and Gaudin, Di rectors, are interested in the promotion of and in the property proposed to be acquired by the Company to the extent only of their interests as Vendors under the contract, particulars whereof are given in paragraph two hereof, and in respect of the retention of their employment with the Company in terms of the said agreement. The other Directors have no pecuniary interest in the promotion of the Company.

12. Of the 10,000 shares above mentioned 2500 shares repre.enting .£2500 of the Company’s capital are'to be issued and credited as pa ; d up in full, in part consideration of the sa'e, particulars of which are given in paragraph two hereof, and the remaming 7500 are now offered to the public for subscription. No person is to subscribe for less than five or for more than 1000 shares. 'I he amount payable on each share shall be 105 per share on application, and the balance by calls as provided for by the Articles of Association.

13. Applications for shares should be made on the accompanying- form, and sent to the Secretary, together with the amount payable on application. Prospectuses and forms of application for shares may be obtained at the Secretary’s office. Lowe street, Gi botne. The subscription list will close on the first day of SCPTEMB6.H, i 906. Where no allotment is made the deposit will be returned in full.

14. This pro?pectus has been filed with the Registrar of Joint Stock Companies.

Dated the 13th day of June, 1906,

ROYAL HOTEL AUCKLAND. JOHN MORRISON (One time of the Grand and Metropolitan Hotels, Auckland, and Royal Hotel, Thames), TTJtESIRES to infoim his Friends and the PnMic that be has-;taken ovor from Mr ” IBAACB the abov-wtll-ko' As b° ~tr