Page 3 Advertisements Column 3

Gisborne Times, Volume XXIII, Issue 1815, 23 July 1906, Page 3

PIIOSPEOTUS

THE GISBORNE TIMES COMPANY, LIMITED incorporated undor “ Tlic Companies Act, 1903.”)

CAPITAL : .Cio,ooo, divided into 10,000 i hares of JUi each. DIR ISC I’ORS : John Thomas Partridge of Gisborne, Settler; William Liusaut Clayton, of Gisborne, Agent ; Giorge Grant, of Gisborne, Civil Engineer ; William Toaibleson, of Patutahi, Sbeepfarmer; Reginald Gerard Hallarnore, of Gisborne, Shipping Agent ; Hamilton Thomas Jones, of Gisborne, Journalist ; aod Walter James Payne Gatidin, of Gisborae, Journalist-

BANKERS : The Union Bank of Australia, Limited. SOi ICHORS : Messrs Blair and Sainsbury, 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 Printors, 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 cut 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 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 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 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, profits are to be divided as follows : First, in payment of a dividend not ex ceeding i£B per centum on the paid up capital.

Second, in payment of a bonus or discount of not more than £5 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, nanuly Contract dated the 18th day of May, 1906, between Hamilton Thomas Jones and Walter James Payne Gaudin, both of Gisbone, in ' ew Zealand, Journalist?, as Vendors, and William Lissant Clayton and John Thomas Partridge, for and on behalf of thi Company, as purchaser for the sale of the above mentioned business, property and goor.will 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 shaies in the Company. Of the said sum 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 £iuoo above ment oned. 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. Ihe number of shares fixed by th? Articles as the qualification of Director i s 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, qnd 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 otherwise than for cash, and no debentures are issued or agreed to be issued. 9. The amount payable by the Company for procuring subscriptions for the shares offered to the public is 2| per centum on the amount thereof.

io. The estimated amount of preitninary expenses is iGiSO. xx, Messrs Jones and Gaudin, Directors, are interested in the promotion of and in the properly 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. Tf.e other Directors have no pecuniaty interest in the promotion of the Company.

12. Of ihe 10,000 shares above-men-tioned 2500 shares repre enting £2500 of the Company’s capital are to be issued and credited as pu'd up in full, in part cons'deraiion of the sale, particulars of which are given in paragraph two hereof, and the remaining 7500 are now offered to the public for subscription. No per» son is to subscribe for lo;s than five or for more than 1000 shares. '! he amount

payable on each share shall be ios per share on application, and th-: 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, Ghbotne. The subscription list will close on the first day o( S'- PTKMBS.F, i 906. Where no allotment is made the deposit will be returned in full, 14. This prospectus has been filed with the Registrar of Joint Stock Companies.

Dated the 13th day of -June, 1906. YOU CAN GET YOUa FUKMIUUB CHEAPER AT

AJT WOOD’S, Gladatope Boad. MR ATTWCOj),_,.ig cffonm? New ace . Secocd-’4 outh. 0 uth. You told me pmand Glasswac.'lubood, so that I should no at big di-C'part and interest in the amuaeme ‘•r fi ra j I thought your pro a ' f’triod your treatment. I swear solen Goay I » r, 9 y , arif i have any amount o, , a *r«"f.T.p a KK i< .ni»m and quite nayp/i j earnestly rei