Page 1 Advertisements Column 1

Manawatu Herald, 15 September 1892, Page 1

PROSPECTUS OF The Manawatu Farmers' Co-operative Association, Limited. Is Incorporated under "The Companies Act. 1882." Capital £100,000. Dividpd into 20,000 Shares of £5 each, with power to increase as required. Payable as follows : 5s on application, 5b on allotment, and the balance by calls. It is not anticipated that it will be necessary to call up any further capita beyond _1 per Share, but in no cade will further calls he made exceeding 2s Od per month. PROVISIONAL DIBECTOHS: J. D. R Hewitt, Cap*., R.N. W. R. Gabdner, Esq. J. E. Nathan, Fsq. P. P. Snow, Esq. L. Wallis, Esq. (Wallis & Smith) Javeb Stubbs, Esq. M. Cohen, jfisq. With pewer to add to their number. BANKERS: The Bank of Australasia. SECRETARY : To be appointed. SOLICITORS : (To be appointed at Palmerston.) ______________ ** PEOSPECTUS. THE Association has heen formed for. the purpose of acquiring the old established and successful J General Busiues3 of Messrs Joseph IJTathan & Co. at Palmerston North, in the Manawa v District, nnd thereafter to carry on a general business upon the co-operative prinoiple, 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 which ! s endorsed on this prospeotus. An association of this nature requires, in the chief c ntres, commodious business premises replete with facilities for economically and expedi tiou. ly carrying on the d.strilutipg trade. Experienced managers, with a thorough knowledge ot ocal requirements, ftr-r indespensible f-r the efftoient conduct of the I usine. s, and for keeping good saleable oh j an gtooks, y It ia necessary to know in what markets, at what seasons, and in what quantities to buy their requirements, ltis of even greater importance t » kuow how. where anl when to export nr otherwise dispose of the produce to the best advantage. But the real 'difficulties of all such institutions is the beginning ; for they must have capital at command, and have such finan* oial arrangements, not enly in the Colony, but in the various matkets of the world, as will inspire the utmost confidence, to enable it to build up a first class credit and good name, and thus transact business on 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 partof the balance of the profits amongst the shareholders, according to the amount of business done hy a each, and a,bonus to employees, and to carry part io a Reserve Fund for the equalisation of dividends, and for the distinct ohject 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. Tho Association will, wherever sufficient inducement is offered by settlers and others, und subject to the consent of the shareholders, eudeavor r to ally itself or amalgamate with similar institutions, and thus, bj sharing the cost of management conduct of business, reduce expenses, and enlarge its sphere of usefulness. , fftU U f*r i^om. boing a speculative concern. The business of the vendors has been carried ion successfully for years, and the promoter s have such confidence in the future of the Association that they are prepared, so Jong as they have fair representation 1 on the Board oi Management under the control bf Mr Cohen, to guarantee that the dividend for the next two years, shall not be less than 6 per oent, • It should bo plainly understood