Page 3 Advertisements Column 4

Gisborne Times, Volume XXIII, Issue 1808, 14 July 1906, Page 3

PIIOSPECTUB ot THE GISBORNE TIMES COMPANY, LIMITED incorporated under “The Companies Act, 1903 ”)

CAI ITAL : .Cio.ooo, divided into ioooo . hares ot JKi each. OIRIS . roR ' : John Phomas Partridge of Gisborne, Settler; William Lis S int Clayton, of Gisborne, Agent ; George Grant, of Gisborne, <'ivil Engineer ; v\ ilbam Pombleson of Patutrhi, Sheepln-mer ; Reginald Gerard lliillamore, of Gisborne, Shipping Agent ; Hamilton Thomas Jones, of Gisborne, Journalist ; and Walter James Payne Gaudin, of Gisborne, Journalist-

BANKERS : The Union Bank cl Australia, Limited. SO' ICI TORS : Messrs Blair and Sainsbuiy, Gisborne. AUDITORS : Messrs Thomas Alexander Coleman and Heibert 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 ol JULY, 1906, the business as Proprietors and Publishers of the Gisborne Times and General Primers, 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. AH debts due to, and liabilities incurred by the Vendors, as on the said date remain payable to and by the Vendors. Part Secuon 50, Peel street, also remains the property of the Vendors. (b) l o carry on such 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 p ! ant. (d) To control the policy of the paper so that it miy give exact and fair reports to the exponents of all shades of opinion, and to give such espreial a'tenron to the interests of the farming community as may be deemed advisable. With tne'e ends in view the Di rectors have the right to decl'ne 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 as follows : - First, in payment of a dividend not ex ceeding jEB per centum on the pa'd up capital. Second, in payment of a bonus or discount of not more than £5 per centum on all bus'ness (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 18th day of May, 190% between Hamilton . homas Jones and Wal ter James Payne Gaudin. both of Gisbo ne, in ew Z -aland, Journalist, as Vendors, and WILLIAM LISSAN* Clayton and John homasta t» ridge, for and on behalf <f ihe om pany, as purchaser for the sale of the above mentioned business, property and goodwill to the Company The purchase price payable to the Veodors under such contract is £BSOO, 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 eum the amount payablo for goodwill is £1750. The Vendors receive the purchase money in equal shares, and have been paid £IOO on account of the £IOOO above ment oned. The basis on wh ch the Company is established is that the Company shall carry cut the above agreement (with or without modification) and every membrr joins on that basis.

4. A copy of the memorandum of Association of the Comp my, with the name?, descriptions, and adcnesses of the subscribers is annexed hereto, and forms part of this prospectus. 5 Cop : es 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. ’’ he number of shares fixed by th e rticles as th« qualification of Director i s 50. The Articles contain the following provision as to the remuneration of the Directors : “ As lemuneration 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 proportions 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 stated no shares are issued or agreed to be issued other wise than for cash, and no debentures are issu’d or agreed to be issued. 9, The amount payable by the Com' paoy for procuring subscriptions for the shares offered to the public is per centum on the amount thereof. 10. The estimateu amount of pre* iminary expenses is .£l5O. n, Messrs Jones and Gaudin, Directors, are interested in the promo'ion of ar.d in the properly proposed lobe acquited by the Company to the extent only of their interests as Vendors under the contract, particulars whereof aie 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 pecuniaty interest in the promotion of the Company.

12. Of ihe to,Coo shares above mentioned 2500 shaves repre filling £2pco of llie Company's Capital are to be issued and credited as pa'd up in full, in part consideration of the sale, particulars of which are given in paragraph two hereof, and the remaining 7500 are now off red to the public for subscription. No person is to subscribe for 10-s than five or for more than 1000 shares. he amount payable on each shato shah be 10s per share on application, and ibc bala-ce by calls as provided for by the Articles of Association, 13 Applications for shares should be made on the accompanying form, and I sent to the Secretary, together with the amount payable cn application. Prospectuses ant) forms of application for shares may be obtained at the Secretary's office. 1 owe street, Gi boms. Ihe subscription list will close on the first day of S ■ PTIiMBb.R, i 906 Where no allotment is made the deposit will be returned in full.

14. This pro’pectus has been filed with (he Registrar of Joint Stock Companies. Dated the 13th day of June, 1906. FEDERAL LUNCHEON AND SUPPER ROOMS. i TEW ART Island and Rook Oy3tora aid 5 Fresh Fish every b at. Meals at all hours from 10 a.m. to midnight. Fried Fish and Chips a Speciality.

WANTED WANTED, So Purataaae—WOOL ®nd asms. Blgbaoi Onah Frloo given at KATAWHEBO WOOL WOR