Page 3 Advertisements Column 5

Manawatu Herald, Volume III, Issue III, 26 May 1891, Page 3

In allotting the shares, the directors will have regard to priority of application, and not more than 100 shares will be allotted to any one person. In submitting an Association of this character to the public it is only necessary to say that it is in no sense a speculative undertaking. The experiences of similar enterprises in the Colony has shown them to be not only dividend paying, but pro' ductiveof many collateral advantages to the producer ; minimising as they do all charges, they necessarily compel merchants and shipowning firms to lower to a reasonable point their rates of profit, commissions, freights, &c. The fact that the New Zealand Farmers' Association of Canterbury (Christchurch) last year had a total profit of £10,804 5s 5d to distribute, and that the Canterbury Farmers Association (Timaru) and other similar Associations are all in a most satisfactory financial condition, speaks for itself as to the safety of the capital to be embarked. The central position of the City of Wellington and its magnificent capacity for the cheap distribution of products to all parts of the world, marks it out prominently as the natural centre for the present Company's operations. The recent connection of the city with Napier on the East Coast, and New Plymouth on the West Coast, by through lines of railway, will enable the settlers in these districts to share equally in the advantages, which will accrue to shareholders in the Wellington Provincial District from having at their door the best and cheapest harbour in the Colony as a distributing centre. THE OBJECTS for whioh the Association will be established and powers deemed necessary for its successful working are: — (1) To carry on the business of a Go-operative Association in all its branches. (2) To buy and sell goods, stores, conbummable articles, chattels, and effects of all kinds. (8) To conduct the sales of the Association upon a cash basis. (4) To offer facilities to farmers for the shipment of their produce to the various* markets of the world, and to appoint agents in different localities for the furtherance of this object. (5) To purchase, take on lease, or in exchange, hire, or otherwise acquire any real and personal property, and any rights, patents, or privileges necessary or convenient for the purpose of the Association, and warehouses for the storage of grain and produce of any kind, and any land, buildings, easements, railway sidings, maohinery, plant, and stock-in-trade. (6) To construct, maintain, and alter any buildings, maohinery, engines, plant, and works that may be deemed by the Directors necessary, convenient, or fit for the purposes of the Association or calculated directly or indirectly to advance the interests of the Association or the members thereof. (7) To borrow or raise money by the issue of or upon bonds, debentures, bills of exchange, promissory notes, or other obligations or securites of the Association, or by mortgage or charge of all or any part of the property of the Association, or of its uncalled oapital, or in such other manner as the Direotors of the Association Bhall think fit. (8) To make, accept, endorse, and execute, promissory notes, bills of exchange, and other negotiable instruments. (9) To purchase or otherwise acquire ana undertake all or any part of the business, property and liabilities of, and to amalgamate with any other Association, Company, firm, or person ; the objects of which shall be altogether, or in part, similar to those of this Association. (10) To invest moneys not immediately required upon such securities as may from time to time be approved of by the Direotors. (11) To make adyanoes to members of the Association, upon such real or personal securities aa may from time to time be approved of by the Direotors. (12) To receive money on deposit at interest or otherwise. (18) To sell, exchange, improve, manage, develop, lease, mortgage, dispose of, or otherwise deal with all or any part of the property of the Association. (14) To extend the operations of the Association in any direction which may seem likely to benefit the members thereof. (15) To do all such other things as are incidental or conducive to the attainment of the above objects or any of them. The preliminary expenses and those attending the promotion and registration of the Association will be paid by the Association. The liability of the members is limited to the nominal value of the shares held by them. Application for shares can be made to the Secretary of the Company at his Office, National Mutual Company's Buildings ; or to the Brokers, at their Offices, Exchange Buildings, Lambton-qaay.