Page 3 Advertisements Column 4

Gisborne Times, Volume XXIII, Issue 1807, 13 July 1906, Page 3

PIiOSPEOTUS Of ' THE GISBORNE TIMES COMPANY, LIMITED incorporated undor “The Companies Aci, 1903.”) CAPITAL : X 10,000, divided ilHo Jo,ooo £ hares of £1 each. DIRECTORS : John Thomas Partridge I of Gisborne, Settler ; William Lissant Clayton, of Gisborne, Agent ; George Grant, of Gisborne, Civil Engineer ; William Tombleson, of Parutahi, Sheepfai iner ; Reginald Gerard Hallamore, of Gisborne, Shipping Agent ; Hamilton Thomas Jones, of Gisborne, Journalist ; and I Walter James Payne Gaudin, of I Gisborne, Journalist. I

BANKERS : The Union Bank of Aus tralia, Limited.

SO '. ICi rORS : Messrs Blair and Sainsbury, Gisborne. AUDITORS : Messrs Thomas Alexander Coleman and Herbert Mus grave Porter, both of Gisborne. SECRETARY (pro. tem.) : William Lissant Clayton. 1,. The Compauy has been formed : (a) To purchase as from the second DAY of JULY, tyoG, the business as Proprietors and Publishers of the G lsnouNE Times and i General Printers, carried on by Messrs Jones and Gaudin, together with the leasehold premises, plant, stock, 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 pro- f perty of the Vendors. I

(b) To carry on such business, am to develop and extend the busi ness in the inodes authorised bj the Memorandum of Association which contain wide and usefu powers in this respect. (c) To purchase up-to-date machinery and plant. (d) To coutrol the policy of the paper so that it may give exact and fair reports to tire 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 Di 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, pro fits are to be divided ns follows : First, in payment of a dividend not ex ceeding £8 per centum on the paid up capital.

I Second, in payment of a bonus or discount of not more than pci' Cciiiii.ii Gii all business (over .£5) contributed by shareholders holding 50 shares or more. Third, in payment of any further dividend that may be sanctioned. 3 The following contract has been entered into, namely : Contract dated the loth day of May, 1906, between Hamilton Thomas Jones and Wal ter James Payne Gaudin. both of Gisborne, in JXew Zealand, Journalist?, I as Vendors, and William Lissant Clayton and John Thomas Partridge, for and on behalf cf 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 £B3OO, 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, The Vendors receive the purchase money in 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 cany 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, arid forms part of this prospectus, c Copies of the above-mentioned contract, ana or me <_-unipuiiy 3 mnuaia,,dum and Articdes may be inspected at the offices of Messrs Blair and Sainsbury during usual business hours. 6, The number of shares fixed by tli e Articles as the qualification of Director i s 50. The Articles contain the following provision as to the remuneration qf the Directors : “ As remuneration fot 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 proportions and manner as they shall fro,m time to time agree upon, I ''

(• The_ minimum subscription uu which the Directors may proceed to allotment is two thousand shares. 8. Except as already slated no shares are issged 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 Copt' pany for procuring subscriptions for the shares effered to the publio is 2J- per centum on the amount thereof. 10. The estimated amount of preiminary expenses is £l5O, 11. Messrs Jones and Gaudh, Directors, are interested in the promotion of and i n l “ e 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 0/ tile Company. 12. Of the 10,000 shares above mentioned 2500 shares reprei enting £2500 of the Company's capital are to be issued and credited as paid up in full, in part consideration of the sale, particulars of which arc given in paragraph two hereof, and the remaining j-jao are now offered to the public for subscription. No perron is to subscribe for ie.s than five or for more than 1000 shares. The amount payable on each sharo shall be ioj per share on application, and the balance by calls as provided for by the Articles pi Association. IV. A for shares should be made oif'tiir 'accompanying for in, and sent to the Secret,ny, together with the amount payable cm application. Prospectuses and forms of application for shares may be obtained at the Secretary’s office, l.owe street, Gisborne, The subscription list will close 011 the first day of S” P'Tk.MDh.R, 1 bod. Where no allotment is made the deposit will be returned in full. 14. This prospectus has bscn filed with the Registrar of Joint' Stock Companies, Dated the 1 jtli day of June, 190 G.

FEDERAL LUNCHEON AND SUPPER ROOMS, STEWART Island and Rook Oysters s\Ed Freeh Fioh evor,yb:&t, Meals at all hours from 10 a.m. to midnight. Fried Fish and Chips a Speciality. WANTKQ WANTED, to Purahasa—WOOD and SKINS. Highest Cash Prise given at HATAWBSiBO WOOL WOP.