Page 1 Advertisements Column 3

Globe, Volume I, Issue 21, 24 June 1874, Page 1

Dr Edward Hulme John Douglas, Runholder, Mount Koyal J. T. Wright, Wright, Stephenson, and Co G. P. Eeid, Stafford street R. Paterson, Paterson and M'Leod R. M. Robertson, Distiller, Rattray street' James Shand, M.P.O. j . Wm. Barron, Barron, Grant, and Co. • Wm. Park, Park and Curie George Elliot Barton, Barrister at Law W. D. Murison, Editor " Daily Times" Charles De V. Teschemaker, Runholder, Taipo,Oamaru David Proudfoot, Railway Contractor Horace Bastings, M.P.C. W. North, North and Scoullar Hugh M'Neil, Briscoe and Co. .: John Bathgate,. R.M. E. B. Cargill.'Cargills and M'Lean H. J. Walter, Manse street R. K. Murray, Rattray street James Black, Black and Thomson Marciis Hume, Dunedin T James Allan, M.P.C, East Taieri William Snow, Outram, West Taieri A. J. Smyth, Contractor Thomas Birch, Merchant Ed. Herbert, Mayor of Lawrence Robert Pritchard, Arrow Walter Inder, Naseby M. J. Malaghan, Queenstown Job Wain, Manse street James Fulton, R.M. John Scanlan, Scanlan Brothers Princes street William Kennedy Rattray street The Hon John M'Lean, Redcastlc, Oamaru, With power to add to their number; Bankers: The Union Bank of Australia The Bank of Australasia, s '!'-■'■•!■. '•'•' ";'•'' ' • ' '\' - ' ;i ,c Ist. The. great want, of a thoroughly Colonial Bankipg Institution for, the whole Colony of New Zealand "having, been long it! has.'been determined.by;the;Provisional Committee to supply the same'by placing, before the public the present carefully .considered scheme, with thefullc6nfidehce that it will meet with very general support... 2nd. As a first step, it is proposed to offer to' the people of this Colony one half of the nominal capital, or 200,000 shares, in fair proportions to each of the Provinces throughout New Zealand, and on the basis of the respective populations of each Province, reserving the other half to be disposed pf hereafter, as the rapid progress of the Colony may demand and shareholders may decide ; but in ho instance will any of the remaining shares be offered for sale out of the Colony without having been first offered to the Colonial holders, nor will any but a New Zealand Register be kept. 3rd. It is intended that the Head Office of the Bank shall be in Dunedin, and that a General Manager of high professional standing shall be appointed to guide the operations of the Bank ; and also that a Board of qualified. Directors shall be elected from among the Committee to advise with the General Manager, and generally watch the interests of the whole Institution. 4th. As soon as a sufficient number of Shares shall have been applied for to warrant the commencement of business, the Head Office will be opened in Dunedin, in suitable Premises already secured under offer, and thereafter Branches will gradually opened in the Chief Centres of Settlement throughout the Colony. sth. It will be the chief aim of the Promoters of this Bank to aid and conserve alike the interests of the whole community in this Colony. The Mercantile, Trading, Pastoral, Agricultural, Mining, Artizan, and Laboring classes will each have fair treatment and support fsom the Colonial Bank. To the Mining Interest special attention will be given, with a desire to acquire for the Miners the Mint value of their Gold, whether in large or small quantities, and until such value can be ascertained a liberal advance will be made upon any Gold deposited for the purpose of coinage. 6th. It is not intended by the Promoters that this Bank shall purchase Gold, but merely'be prepared to make advances upon it until realised, in the same manner that it will be ready to do upon Wool, Grain, or other produce. 7th. The amount of New Zealand Money in the hands of the three Banks from Australia trading in the colony on the 31st December last, as shown by their several returns furnished to the Government, appear thus, without giving odd numbers: — CirculaDeposits. tion. Total. £ £ £ Union Bank of Australia ... 870,000 123,425 993,425 Bank of New South Wales 500,000 104,849 664,849 Bank of Australasia 193,000 38,962 231,962 Showing a total of ... £1,890,236 or nearly two millions of money belonging to colonists entrusted to Boards of Directors in Melbourne or Sydney, to control or manipulate as it may please their tastes; or as it may be convenient for the good of commerce in Victoria or New South Wales ; or for the beneficial regulation of their exchange opera tions in those Colonies. Bth. The Promoters, in placing the foregoing facts before the people ot this Colony, desire to point out the very great disadvantages that colonists are sure to labour under by lending—or rather giving—such a large sum of money as stated above to foreign Banks, to be lent back to the people here at very high rates of interest, • and on most arbitrary conditions. They therefore have no hesitation in suggesting the prudence and wisdom of the colonists keeping within the their own domain the absolute control of their own moneys ; as by so doing they will most effectually destroy the risk of future 1 monetary disturbances, which they have had on more than one occasion to deplore in the past, brought about solely by some crisis that has occurred in one or other of the Auatra-