PROSPECTUS.

Kawhia Settler and Raglan Advertiser, Volume IV, Issue 208, 12 May 1905, Page 4

PROSPECTUS.

OK THE AU KT ANfTFAKMEHb’ FREEZING CO., Limited. To bo Begiatored under ‘ The Companies Vet, 18( 2,’ and it« amendment* Dated the first day of December 1903, and filed w ith the Registrar of Joint Stock COmpaUi e^ A p lTATj .. .. £75,1)00, I n 15,000 shares of £5 each. of which 10,000 Shares areTiow offered to the public on the follownig terms 10a per short I to be paid on implication, £1 on allotment, and the balance in Calls of 10s per share ftt i ntervals of not less than three months when requirtd. 5,000 Shares will be held in reserve,by the Company. DIV ECT DBS J. BABUGH, farmer, Hamilton, J. 0. ALLEN, fanner, I’ioka, RICHARD REYNOLDS, Farmer. CAMBRIDGE T. STONE. Farmer, Taupiri, J. KNIGHT, Farmer, Hamilton, IL J. GILL, Farmer, Te Puke.W. N. STURGES, Farmer, Ohanpo, W. G. PJIRK, Farmer, Cambridge, R. SEAVILL, Farmer, Waingaro, W.. CHITTY, Farmer, Hamilton, S. KNIGHT, Farmer, Hamilton, C. DAY, Farmer Tamahere, J. GORDON, Farmer, Eurekn, J. PENNIKEF Farmer, Ohanpo. Bankers : BA NK OF NEW ZE ALAND. Solicitor : EDMUND MAHONY, 38, Short,land Street, Auckland. Secretary (pro tern ): .S. KNIGHT, Hamilton. Temporary Offices : BOROUGH COUNCIL CHAMBERS, Victoria Street, Hamilton. This Company is being formed for the . purpose o:' freezing an.d canning meat at a minimum rate, manufacturing by-products and curinjf bacon, asd securing stability of market fo r stock. The obyicto ef the Company will be found more Tally set forth in the appended Memorandum rf Aaaociation. The minimum subscription on which the directors may proceed to allotment is two thousand Shares (£10,000). The estimated amount of preliminary pensc is £4OO, exclusive of brokerage. A commistion, not exceeding 5 par cent on the amounts payable on application an*! allotment-, may be paid to the Company’s Broker or Brokers on all shares subscribed for tbroui'h him or them. The Corupanv in general meeting shall, from time to time, determine the remuneration to I® paid to the Directors. If, in the opinion of the Board it is desirable that any of their number make any special journeys or perfom 1 any special services on behalf of the Company or its business, such Directtor or Directors shall be paid such reasonable additional remuneration and expenses therefore as the Board or Company may from time to time determine. Tho qualification of every Director shall be the holding in his own right of at least 20 Shares In the Company. The perrons who are named as the Provisional Directors will be the first Directors of the Company, and will hold office until the statutory meeting of the Company, when they will retire, and tho Shareholders will be c.dled upon to elect Directors for the ensuing year.

There it; a strong consensus of opinion among tho farming community that the establishment of an up-to-date Freezing and Preserving Company in the vicinity of Auckland City, owned and managed by the farmers themselves, is of vital importance. An option of purchase of a site at Otahuhu, containing 79 acres or thereabouts situated on the railway line and bounded in part by the Mapgere road, lias been secured from Mr George Eamberton Thomson, of Otahuhu, which is exercisable on or before the 2nd day of February, 1904, the consideration being £2.710, which will be payable in cash. It is proposed to carry on the business cf the Company on the lines of the Belfast Freezing Company of Canterbury. This New Zealand Company has l»een established for upwards of twenty years; has been eminently succescful from the first; has extended flo wishing branehee to Ashburton and Timaru, and is almost entirely owned acd managed by farmers. No better object lessor can, therefore, be quoted to the farmers of Auckland. Briefly, the Belfast ■ Freezing Company does not buy stock (although possessing the right to do eo by its Memorandum of Association) and is therefoie not interested in keeping prices down. The Company freezes for all customers strictly in order of application at the lowest cost. Customers can dispose of their meat in any manner they wish; for instance', they can ship home through the Company or any other agent, or sell on the hooks at the works.

The establishment of ‘The Auckland Farmers’ Freezing Co., Ltd./ managed on similar lines, will promote healthy competition, and by presenting an ever ready channel to the grower for the disposal of his’fat stock, will insure a steady and: remunerative market, not only for fat stock, but also, for store sheep, cattle, and steer cal'res of-the dairyman; the prices of each of tlresc classes, as is well known being ruled by the price of fat stock. As large areas of new country have been taken up during the last three years, and as the same process still continues, it is confidently believed that in the near future the supply of fat sheep and cattle for freezing wi.l be ample. The Dairy i idustry also as it expands, will provide an iver inc teas ing number of steer calves, wkich will be turned into boat in due course. The estublifihment of the Belfast Freez-

ing Company in the various eentres has in each case been attended with great benitit to town and country, and, as a consequence with prosperity to the farming community. This prosperity has arisen, not so much from the actual profits obtained f;or.i the Com pany itself, as from the indirect benefit derivable from the steady and remt nerative market for stock which is assured by the operations of much s> Company, and by consequent advance in the value of land. It is therefore with confidence that the farmers of Auckland Provincial District are invited to heprtily support the Auckland Farmers’ Freezing Company. Limited, .by taking up shares, Copies of th<f Prospectus and and Forms of applicatian for Shares may be procured from Bank of New Zealand, Auckland or Hamilton, the Secretary, or from tlid-solici-tor to the Company. The number of Shares subscribed for by the Provincial Directors are .as follows: J. Barugh, Farmer, Hamilton, 40 shares ; J.O Allen, Farmer, Piako, 40 shares; R. Reynolds, Farmer, Cambridge, 40 shares ; T. Stone, Fanner. Tnupiri, 40 shares ; J. Knight, Farmer, Hamilton. 40 shares ; H. J. Gill, Farmer,, Te Puke, 20 shares ; VV, N. Sturges, Farmer, Ohaupo, 20 shares; VT. (?; Park, 'Firmer', Cambridge. 20 shares ; B. Seavill, Farmer Waiugaru, 20 shares ; W. Chittv, Farmer, Hamilton, 20 shares ; 8. Knight, Farmer, Hamilton, 20 shares ; C. Day, Fanner, Tamahero,.2o shares, .John Gordon, Farmpr, Eureka, 40 shares; J 1 Punniket, Farmer, Chaupo, 20 shares.