Page 3 Advertisements Column 4

Gisborne Times, Volume XXIII, Issue 1816, 24 July 1906, Page 3

PRO 3 PE 01 (JS Of THE GISBORNE TIMES COMPANY, LIMITED r ncorporated undor “ The Companies Act, 1903 ”) CAPITAL : .£IO,OOO, divided into 10,000 i liares of £1 each. DIREC I'ORS : John Thomas Partridge of Gisborne, Settler; William Lid - sant Clayton, of Gisborne, Agent ; George Grant, of Gisborne, Civil Engineer; William Tombleson, of Patutahi, SheeplaMiier; Reginald Gerard Hallamore, of Gisborne, I Shipping Agent ; Hamilton Thomas Jones, dI Gisborne, Journalist ; and Walter James Payne Qaudin, of Gisbor„e, JournalistBANKERS : The Union Bank of Australia, Limited. SO ICI TORS : Messrs Blair and Sainsbury, Gisborne. VUDITORS : Messrs Thomas Alexander Coleman and Herbert Mus grave Porter, both of Gisborne. lECRETARY (pro. tern.) : William Lissant Clayton.

i. The Company has been formed : (a) To purchase as from the second DAY of JULY, Jyo6, the business as Proprietors and Publishers of the Gishornis 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 cut in the contract mentioned below. All debts due to, and liabilities in curred 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 sti"h busmess, and to develop and extend the business in the modes authorised by the Memorandum of Associat.on, which contain wide and uteful 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 fanning community as may be deemed advisable. With these tnds in view the Di rectors have the right to decline to permit any person of whom they do not approve to acquire shares j by any means. v

2. After providing for a reserve, pro fits are to be divided as follows : First, in payment of a dividend not ex ceeding f 8 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, namdy Contract dated the 18th day of May, 1906, between Hamilton i homas Jones and Walter James Payne Gaudin, both of Gisbo ne, in ew Zealand, Journalists, as Vendors, and William Lissant Clayton and John Thomas Partridge, for and on behalf if th; Company, as purchaser for the sale of the above mentioned business, properly and gooowill to the Company. The purchase price payable fo 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 shates 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 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 Comprny, with the names, descriptions, and addresses 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 memoran • dum 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 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, 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 otherwise than for cash, and no debentures are isstnd or agread to be issued. 9. The amount payable by the Company for procuring subscriptions for the shares offered to the publ.c is 2J per centum on the amount thereof.

10. The estimatea amount of preiminary expenses is .£l5O. 11. Messrs Jones and Gaudin, 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 agreement. The other Directors hive nopecuniaty interest in the promjtion of the Company. 12. Of the io,coo shares above-men-tioned 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 temaming 7500 are now offered to the public for subscription. No person is to subscribe for le : s than five or for more than 1000 shares. Ihe amount payable on each slia’o shall be 105 per share on application, and the. ba'.ar ce 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 app’ication. Prospectuses and forms of application for shares may be obtained at the Secretary’s office. Lowe street, Gi-botne. 'I he subscription list will close on the first day of S'* FTKMIS J .R, 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. YuU CAN GET YOUR FURNITURE CHEAPER AT ATTWOOD’S, Gladstone Road. MR ATIWCOD is offering New and - Second-hand Furnitur", Bru-bware, and Glassware ; a'so Singer Sewing Maohin'-. at big ditoount for cash. Go-Carfs and Prams for Hire at any time. Send your Upholstering ard Repairs to ATTWOOD’S. Near Royal Hoiei, Also Opposite Stafford's. Telephones 317 and 317.