Page 4 Advertisements Column 2

Manawatu Herald, 9 July 1891, Page 4

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 bas shown them to be not only dividend paying, but productive of many collateral advantages to the producer ; minimising as they do nil charges, they necessarily com* pel 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 (Chriatchurclf) last year had a total profit of £10,804 5s 5d to distribute, ano\ that the Canterbury Farmers Association (Timaru) and other similar Associations are all in a most satisfactory financial ccndition, 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 fparts of the world, mnrks it out prominently as the natural centre for the present Company's operations. Tbe recent connection of the city with Napier on the East. Coast, ami New Plymouth on the West Coast, by through lines ot railway, will enable the settlers in these districts to share equally in tbe advantages, which willaccrue to shareholders in the Wellington Provincial District from having at their door tbe best and cheapest harbour in the Colony as a distributing centre. THE OBJECTS for whioh tbe Association will be established and powers deemed necessary for its successful working are:-;r (1) To carry on the business of a Co-opftrative Association in all its branches. (2) To buy and sell goods, stores, consuramahle articles, chattels, and effects of all kinds. (8). To conduct the sales of the Association npon 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 m different localities for the furtherance of this object. 1 ' (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 stook-in-trade. (6) To con3truofc, maintain, and alter any buildings, machinery, engines, plant, and works that may be deemed by the Direotors necessary, convenient, or fit for the purposes of the Association or calculated directly or indireotly to advance the interests of the Association or the members thereof. (7) To borrow or raise money by theissueof 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 capital, or in such other manner as the Directors of the Association shall think fit. (8) To make, accept, endorse, and execute promissory notes, bills of exchange, and other negotiable instruments. (9) To purchase or otherwise acquire and 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 n|oney£Knot immediately reqaired, %ppn v suoh securities as may from time to time be approved of by the> Directors. ,.....-.:.. 1 (11) To make advances to members of the Association, upon such real or personal securities as may from, time to time* be approved of by theDirectqrs. (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 tbe Association in any direction whioh may seem likely to benefit the members thereof. , (15) To do all such other things as are incidental or couducive to the attainment of the above objects or any of them. The 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-quay.