Page 3 Advertisements Column 2

Manawatu Herald, 6 September 1892, Page 3

PROSPECTS OF The Manawatu Farmers' Co-operative Association, Limited. Incorporated under " The Companies Act, 1882." Capital £100,000. Divided into 20,000 Shares of £5 each, with power to increase as required. Payable as follows : 5s on application, Us on allotment, and the balance by calls. It is not anticipated that it will be necessary to call up any further capital beyond £1 per Share, but in no tjase will further calls be made exceeding 2s 6d per month. PROVISIONAL DIRECTOR < : J. D. R Hewitt, Gapi, R.N. W. S. Gaiidnkb, Esq. J. K. Nathan; Feq. F. P. Suow, Esq. L. Wataib, Esq. (Wallis & Smith) James Stubbs, Esq. M. Coven, Esq. With power to- add to their number. BANKERS: The Bank of Australasia. ■ r SECRETARY: To be appointed. SOLICITORS: '. ', (To be appointed at Palraerston.) PROSPECTUS. THE Association has been formed for the purpose of acquiring the old established and successful General Business of Messrs Josfph Nathan & Co. at Palmerston North, in the Manawa v District, «nd thereafter to carry on a general business upon the co-operative principle, under which' slia'*t holders, and customers of the ' Association' wiU share ' in " the profits, according to methods to be deterinined from' time to time by the Directors, and for the other purpose ■nientioned in the Memorandum ot Association, a copy of which 's endorsed oh this profipeotus. An association of this nature requires, in she chief centres, commodious business premises replete with facilities for economically and espedi tiously carrying on thft distributing trade. Experienced managers, with a thorough knowledge ot local requirements, ai'n indespensible for the efficient conduct of the business, and for keeping good saleable clean stocks. •."■'' It is neoessary to koow in what markets, at what seasons, and in what quantities' to buy their requirements.. 'It i« of even greater importance t> know how. where an i when to export or otherwise dispose of the produce to the best advantage. But the real'difficulties <if all such institutions is the beginning ; f"r they must have capital at command, and have such finan* cml arrangements, not r nly in t\<e > olony, but in the various mai kets of the world, as will ins- >ire the ut* most confidence, to enable it to build up a first class credit and good name, and thus transact business on roclc bottom limits. The profits of the Association after payment of expenses will belong to and be distributed amongst the shareholders It is at present pro' posed after payment to shareholders of a dividend of 7 per cent upon amount of paid up capital to divide part of the balance of the profits amongst the shareholders, according to the amount of business done by each, and a bonus to employees, and to carry part to a Reserve Fund for the equalisation of dividends, and for the distinct object of starting or investing in such local industries in the district as will prove conducive to the welfare of the shareholders, employ labour, and promote the wealth and population of the district. The Association will, wherever sufficient inducement is offered by settlers aud others, and subject to the consent of the shareholders, en* deavpv v to ally itself or amalgamate with similar institutions, and thus, by sharing the cost ot, management and conduct of business, reduce expenses and enlarge its sphere of usefulness. : This is far i torn being a speculative concern. The business of the vendors has been oarriedion successfully for years, and the promoters have such confidence in the future of the Association that they are prepared, so long as they have fair representation on; the Board ol Management under the control of Mr Cohen, to guarantee that the dividend for the next two years shall not be less than 6 per cent. ! ; ■ It should be plainly . understood that the promoters do not desire now, nor in the future, to take out their capital, but to carry on the business on the new .lines with Mr Cohen at the bead of affairs, assisted by all the present staff, many of whom have been known to you for years. Disinterested experts will be emp'oyed to certify that stocks have been taken at absolute cost, and all bad or old slock has been reduced to the tttftfitot valn« or taken a\vaj> ftUeg@tt)tf)