Page 3 Advertisements Column 4

Manawatu Herald, 13 September 1892, Page 3

PROSPECTUS OP 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, 5s on allotment, and the .balance by calls. It is not anticipated that it will be neoessary to call up any further capital beyond £1 per Share, but in no case will further calls Be ni.de exceed' ing 2s 6d per month. PROVISIONAL DIRECTORS : J. D. R Hewitt, Capt, R.N. W.-S. Gardner, Esq. J. E. Nathan, Fsq. ]?.' P. Snow, Esq. L. Wallis, Esq. (Wallis A Smith) James Stuiibs, Esq. • M. Cohen, Esq. With power to add to their number. BANKERS: The Bank of Australasia. SECRETARY : « To be appointed. ' . SOLICITORS : (To be appointed at Palmerston.) PROSPECTUS. r p HE Association has been formed | for the purpose of acquiring the old established and successful General BnsineS3 of Messrs JosEra Nathan & Co. at Palmerston North, in the Manawatu District, and thereafter to' carry on a general business upon the co-operative principle, under which shareholders and customers of the Association will share in the profits, according to methods to be determined from time to time by the Directors, and for the other purpose mentioned in the Memorandum ot Association, a copy of wbich "s endorsed on this prospectus. An association of this nature requires, in the chief centres, commodious business premises replete with facilities for economically and expeditiously carrying on the distributing trade. Experienced managers, with a thorough knowledge ot local requirements, are indespensible for the efficient conduct of the business, and fpr keepiug good saleable clean stocks. It is necessary to know in what markets, at what seasons, and in what quantities to buy tbeir requirements. It is of even greater importance t> know how. where an i when to export or otherwise dispose of the produce to tbe best advantage. But the real' difficulties of all such institution, is the beginning; f<>r tbey must have capital at 'command, and havo such finau > cial arrangements, not only in the Colony, but in tbe various mai kets of the world, as will inspire the utmost confidence, to enable it to build up a first class oredit and good name, and thos transaot bnsiness ou rook bottom limits. The profits ofthe Association after payment of expenses will belong to and be distributed amongst the shareholders It is at present proposed after payment to shareholders of a dividend of 7 per cent upon amount of paid up capital to divide part of the balance of tbe profits amongst the shareholders, according to the amount.of business done by each, and a bonus to employees, and to carry part to a'Eeserve Fund for the equalisation of dividends, and for the distinct object of starting or investing in suoh 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 and others, and subject to the consent of the shareholders, eudeavor r to ally itse'f or amalgamate with similar institutions, and thus, by sharing the cost of management and conduct of business, reduce expenses and enlarge its sphere ol usefulness. This is far from being a speculative concern. The business of the vendors has been carried J .on successfully foi years, and the promoters have sue! confidence in' the future of the Association that they are prepared^ sc Jong as they bave fair representation on the Board oi Management undei the control of Mr Cohen, to guarantee that the dividend for the next twe years shall not be less than 6 pei i cent. It should be plainly understooc that the promoters do not desire now nor in the future, to take out theii capital, but to carry on the business on the new lines with Mr Cohen a the head of affairs, assisted by al t l}e present staff, many of whon have been known to you for years. Disinterested experts will be em ployed to certify that stocks havi been taken at absolute cost, and al bad or old stock has been reduced ti the market value or taken awa; altogether. :