Page 3 Advertisements Column 3

Gisborne Times, Volume XXIII, Issue 1809, 16 July 1906, Page 3

1. ,«HBOTUS ci THE CiSBORNS TIMES GOMPAKY, LIMITED Incorporated under “ The Companie Act, 1903.”)

CAPITAL : JG io.qoo, divided into io.ooo L hares o( JR each. DIRECTORS : John Thomas Partridge of Gisborne, Settler; William fdasaot Clayton, of Gisborne, Agent; George Grant, of Gisborne, Civil Engineer; William Tombleson, of l’atuii ini, Sheeplacincr ; Reginald Gerard Hallamore, of Gisborne, Shipping Agent ; Hamilton Thomas Jones, of Gisborne, Journalist ; and Walter James Payne Gaudin, of Gisborne, Journalist.

BANKERS : The Union Bank r.I Australia, Limited. SO! ICITORS : Messrs Blair and Sainsbury, Gisborne. AUDITORS : Messrs Thomas Alexander Coleman and Herbert Mus Porter, both of Gisborne. SECRETARY (pro. tern.) : William Lissant Clayton.

X. The Company has been formed (a) To purchase as from the second day ol JULY, 1906, the bus 1. ness as Proprietors and Publishers of the Gisborne 'Times and 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, Peol street, also remains the property of the Vendors. (b) To carry on such business, an 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. (d) To control the policy of the paper so that it may give exact and fair reports to the exponents of all shades of opinion, and tc give such especial attention to the interests of the farming community as may be deemed advisable. With these ends in view the Directors have the right to declina 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 cx ceeding £8 per centum on the paid-up capital. Second, in payment of a bonus or discount of not more than JIS per centum on 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 iStlx day of May, 1906, between Hamilton Thomas Jones and Walter James Payne Gaudin, both of Gisborne, in .New Zealand, Journalists, as Vendors, and William Lissant Clayton and John Thomas Partridge, for and on behalf of the ( ompany, 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 £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 Bum the amount payable for goodwill is JJ1750. 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 which the Company is established is that the Company shall, carrv 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 th e Articles as the qualification of Director i 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 stated no shares are issued or agreed to be issued otherwise than for cash, and no debentures are issued or agreed to be issued. o, The amount payable by the Coni' pany for procuring subscriptions for the shares offered to the public is per centum on the amount thereof. • io. The estimated amount of pre' iminary expenses is £l5O- - Messrs .Topes and Gauom, Directors, 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 agree-' ment. Toe other Directors have no pecuniary interest in the promotion of the Company-

m. Of the 10,000 shares above mentioned 2500 shares icprc-enting £2500 of •he Company’s capital are to be issued and credited as pah] up in lull, in part consideration of the sale, particulars of which are raven in paragraph two heieof, and the remahiint; 7500 are now offered to the public for subscription. T o pareon is to subscribe for le.-s than five ar for more than 1000 shares. ’Ui.e amount payable on each sharo s,haV he tas per share on application, and the balance by | calls as provided for by the Articles ol ASSOCUU'-M;

13- Applications for shares should bo made on ill? accompanying four., and sen; to the Secretary, together with me amount payable on app'ication. _ Pros- 1 pectuses and forms of application .or shares may be obtained at the Secretary s office. J-owe street. Gi.-bor;ie. i fc.e W scription list will close on tb,e £rst nay or S :< PTicMIG'.K; i Von. Where no allot- | ment is made the deposit will be returned It ill full.

14. This prospectus has been with the Registrar of Joint Stock Companies. Dated the 13th day o£ June, :q?&

FEDERAL JAJ N CHE ON SUPPER ROOMS. A.ND

C'fTB'WS.BT Island and Pock Oyaicrs O Freah Fisk every boat. Meals at all hours from 10 a.:n. to midnight. Fried Fiah and Chips a Specialty.

WANTED WMHTSID, So PcMJtaoo-WOOEi and SKIH9. HigUosJ Qnei Pi'Sfje givoa a 4 WQQ& Wv'R