Page 3 Advertisements Column 4

Gisborne Times, Volume XXIII, Issue 1820, 28 July 1906, Page 3

FJKOBPEOTUB 01 THE GISBORNE TIMES COMPANY, LIMITED Incorporated under “ The Companies Act, 1903 ”) CAPITAL : £IO,OOO, divided into 10,000 i hares of £1 each. DIRECTORS : John Thomas Partridge of Gisborne, Settler; William Lissant Clayton, of Gisborne, Agent ; George Grant, of Gisborne, Civil Engineer ; Wilt'am Tombleson, of Pauitahi, Sheepfamier; Reginald Gerard Hallamore, of Gisborne, Shipping Agent; Hamilton Thomas Jones, of.Gisboine, Journalist; and Walter James Payne Gaudin, of Gisbovce, Journalist-

BANKERS : The Union Bank of Australia, Limiled. SO. ICI TORS : Messrs Blair and Sainsbury, Gisborne. AUDITORS : Messrs Thomas Alexander Coleman and Heibert Mus grave Porter, both of Gisborne. SECRETARY (pro. tem.): William Lissant Clayton. I. The Company has been formed ; (a) To purchase as from the second DAV ol JULY, 1906, the business as Proprietors and Publishers of the Gisborne Times and General Printers, cariied 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) J 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 plant. (d) To control the polxy 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 a'tention to the interests of the farming community as may be deemed advisable. With theie 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, 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 £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, namely 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, Journalist?, as Vendors, and William Lissant Clayton and John Thomas Paktridge, for and on behalf <f thi Company, as purchaser for the sale of the above mentioned business, property and goof.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 shares 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 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 member joins on that basis.

4. A copy of the memorandum of Association of the Company, with the names, descriptions, and addresses ot 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 Mossrs Blair and Sainsbury during usual business hours.

6. The number of shares fixed by th e Articles as the 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 shell 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 2i 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 promo* ion 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. The other Directors hive no pecuniary interest in the promotion of the Company. 12. Of the 10,000 shares above-men-tioned 2500 shares repre; ent.ing £2500 of the Company’s capital are to be issued and i rodited 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 public for subscription. No perron is to subscribe for 10.-s than five or for more than 1000 shares. The amount payable on each sharo shall be 10s 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 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, GLborne. The subscription list will close on the first day o! SKPTEMBLR, i 906. Where no allotment is made the deposit will be returned in full, 14. This pro = pectus has been filec with the Registrar of Joint Stock Com 1 panies. Dated the 13th day of June, 1906.

YOU CAN GET YCUS FURNITURE CHEAPER AT ATT WOOD’S, Gladstone Road. MR ATTWOOD is c Bering New and Seoord-baud Furniture, Bru hwaro, and Glasswaro; a'so Smgor Sowing Machine, at big dhoount (or cash. Go-Cnris and Prams fo; Hiro at any limo. Send your Upholstering end Repairs to ATT WOOD’S. Near Royal Hoiol, Also Opposite Stafford's. Tolophanoß 317 and 317.