Page 3 Advertisements Column 4

Gisborne Times, Volume XXIII, Issue 1817, 25 July 1906, Page 3

PEGSPECTUS THE GISBORNE TIMES COMPANY, LIMITED ncorporutecl uador “ The Companies Act, 1903 ”)

CAPITAL : £IO,OOO, divided into 10,000 ‘ hares of JO 1 each. DIRECTORS : John Thomas Partridge of Gisborne, Settler ; William Lissaut Clayton, ol Gisborne, Agent ; George Grant, of Gisborne, Civil Engineer; V\ ilhain Tombleson, of l’uiutahi, Sheeplat iner; Reginald Gerard Hallamore, of Gisborne, Shipping Agent ; Hamilton Thomas Jones, ol Gisborne, Journalist ; and Waller James Payne Gaudin, of Gisborne. Journalist-

I BANKERS : The Union Bank cf Aus iralia, Limited. SO'. ICHORS : Messrs Blair and Sains bury, 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 ot JULY, 1906, the business as Proprietors and Publishers of the Gisborne Times and General Printeis, 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 bus'ness, and to develop and extend the business in the modes authorised by the Memorandum of Association, which contain wide and u:eful 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 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 inds 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 as follows : First, in payment of a dividend not ex ceeding £8 per centum on the paid up capital.

Second, in payment of a bonus or discount of not more than JGS 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, nam.Ty Contract dated the 18th day of May, 1906, between Hamilton Thomas Jonls and Walter James Payne Gaudin, both of Gisbo ne, in Tew Zealand, Journalists, as Vendors, and William Lissant Clayton and John Thomas Partridge, for and on behalf of th: t otnpany, as purchaser for the sale of the above mentioned business, property and goo-.'.will to the Company. The purchase price payable to the Vendors under such contract is £3500, 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 payablo for goodwill is £1750. The Yendors 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 carry out the above agreement (with or without modification) and every membtr 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 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. Ihe number of shares fixed by the Articles as tha qualification of Director is 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 other wise 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 per centum on the amount thereof.

10. The estitratea amount of preiminary expenses is .£l5O. 11, Messrs Jones and Gaudin, Directors, are interested in the promo'ion of and in the property proposed to be acquited by the Company to the extent only of their interests as Vuidors 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 h ive nopecuniaiy 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 remaining 7500 are now offered to the publ'c for subscription. No person is to subscribe for 1c s than five or for more than 1000 shares. 'I he amount payable on each sha'O shah be ios per share on application, and the balance by calls as provided for by the Articles of Association.

13- Applications for shares should be made on the accompanying form, and sept to the Secrttaiy, together with the amount payable on application. Prospectuses and fqrms of application foi shares may be obtained at the Secretary’s office, Lowe street, Gi borne, the subscription Ist will close on the first day of S “ PT E M B P, i 906. Where no allotment is made the deposit will be returned in full.

14- This pro-peclus has been filed with the Registrar of Joint Block Companies. Dated the 13th day of June, 1906.

YOU CAN GET YCU3 FURNITURE CHEAPER AT ATTWQQD’S, Gladstone Road. M R ATT'WCOD is (ffering New and . Secocd-band Furnitur.', Eru hwsre, and Glassware ; a'so Singer Sewing Maohin'’. at big di-count tor cash. Go-Ca*ts and Prams for Hire at any time. Send your Upholstering and Repairs to ATT WOOD’S Near Royal Hotel, Also Opposite Stafloru’s. Telephones 317 and 317.