Page 1 Advertisements Column 1

Manawatu Herald, 17 September 1892, Page 1

; PROSPECTUS OF The Manawatu Farmers' Co-operative Association, Limited. * Incorporated under " The Companies Act, 1882." Capital £1 00,000. Divided into 20,000 Shares hf £5 each, with power to increase as required. Payable an -follows : Hs on application, fls on allotment, and the balance by calls. It is not anticipated that it willbo n-jcessary to call up any further capital 'jeyond £1 per Share, but in no cai»e w'jl further calls he made exceeding 2p. (jd pev month. P'ItOVISIONA!, DIRECTOBS: 3-/j. B Hxwirr, Cap., K.N. V". . S. Gardner, Esq. J. E. Nathan, Fsq. I«. P. Snow, Esq. L. Walijs, Esq. ( Wallis & Smith) James Stgihis, Esq. M. Cohen, Esq. With power to add to their number. BANKEUS: The Barik of Australasia. SECRETARY : To be appointed. SOLICITORS : (To be appointed at Palmerston,) PROSPECTUS. HE Association baa been formed I for the purpose of acquiring the old established and successful General Business of Messrs Joseph Nathan & Co. at Palmerston North, ►-'in the Manawa'u District, Hntl thereafter to carry on a general business upon the co-operative principle , under which shareholders and customers of the Association will share in the 1 profits, according to methods to ho ! determined from time to time by the J Directors, and for the other purpose j mentioned in tho Memorandum ot Association, a copy of which 'g en ■ i dorsed on this prospeotu?. , An association of this nnture requires, in the chief centres, commo- 1 diooß business premises replete with \ facilities for economically and expedi | tiously carrying on the d striruting" trade. ! Experienced - managers, with a | thorough knowledge ot ; oeal r< quire* i ments, ar« indespensible f-^r rim : efficient conduct of the I usiiu'sa. and ! for keeping good saleable chan stocks. It is neoGHsnry to know in what-. markets, »X "what seasons, and in ' what quantities to buy their requirem'jtita. It is of evou greater importance t • kuow how. where an 1 when to export <r otherwise .dispose of the produce to the bost advantage. But the realdifticulties of all such institutions is the beginning ; f»r they must have capitnl at command, and have such finan* , oial arrangements, not <nly in the' Colony, but in the various ma-kets of the world, as will inspire the uf | most confidence, to enable it to build up a first class credit and good name, aud thus transact business on rock bottom limits. The profits of tbe 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 pal t 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 Reserve Fund for the equalisation of dividends, and for the distinot ohject of starting or investing in such local industries in the district as will prove oonducive to the welfare of the shareholders, employ labour, find promote the wealth and population of the district. Tho Association wi'l, wherever sufficient inducement is offered by settlers and others, i.nd subject to the consent of the shareholders, endeavor, r to ally itself or amalgamate with similar institutions, and thns, by sharing the cost of management ' and conduot of business, reduce exp#nses and enlarge its sphere of usefulness. This is far from being a speculative concern. The business of.the vendors has been carried \on successfully for years, aud the promote- s have such confidence in the future of the Association that they are prepared, so Jong as they have fair representation on the Board oi Management under the control of Mr Cohen, to guarantee that tbe dividend for tbe next two years frhall not be less thnn 6 per fccht. . I* shou'd bo plainly understood