Page 1 Advertisements Column 1

Manawatu Herald, 20 September 1892, Page 1

PROSPECTUS OF The Manawatu Farmers' Co-operative Association, Limited. Incorporated under "The Companies Act, 1882." Capita! £1 00,000. Divided nito 20,000 Shares of £5 each, with power to increase as required. PayaUe as follows : 04 on application, 5s on allotment, and the balauce by calls. It is not anticipated that it will be necessary to call up any further capita beyiSnd 11 per .->hare. but in no case will further calls be made exceeding 2s Gd per month. PROVISIONAL DIREOTOKS: J. D. R Hewitt, Cap., 11. N. AY. S. Gakdker, Esq. J. E. Nathan, Fsq. F. P. Snow, Esq. L. Wallis, Esq. (Wallis & Smith) J.\MEB STUBB3, Esq. M. Cohen, Esq. With power to add to their n timber. BANKERS: The Bank of Australasia. SECRETARY : To be appointed. SOLICITORS : (To be appointed at Palmerston.) PEOSPECTUS. I np HE Association lias been formed J[ for the purpose of acquirinu the old established and successful ] General Business of Messrs Jnsi-rii Nathan & Co. at Palmerston North, in tho Manawa v District, ■•n-i thereafter to carry on a general business upon the co-operative priuci pi", under whioh shareholders and customers of J the Association will share in the ■ profits, according to methods to l>o ! determined from time to tim.j by the ' Directors, and for the othtfr purpose | mentioned in tho Memorandum ot Association, a copy ot which 's en • : dorsed on this prospectus, Au association of this nnture requires, in ihe chief p n'res. commodious business premis s r*plnle with faciliti' b for economically nud fxpedi tious'y carrying on thn d !-triluting trade. E»p«-'rienL-ed managfrs. with a thorou .h Icnowhvge ot ocalr-qnire-ments, ar • indespensible fr tlio efficient co duot of the I \\wwt •». and for keeping good saleable oUan acock s. It is necessary ro krow in what I markets, at what aeasons, and in ! what quantities to buy their requirements. It is of eve:i greater importance t know lvw. whero ' an i when to export < r otherwise I dispose of the produce to the brst advantage. But the realdifficulties of all such institutions is the beginning ; for they mnat have capital , at command, and have such finan* cial arrangements, not enly in the Colony, ))ut in the various ma» kets of the world, as willinsoire the utmost confidence, to enable it to build up a first clbbs crpdit and good name, and thns trausact business on rock bottom limits. The profits of tte 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 tho profits amongst the shareholders, according to the amount of business done by each, and a bonus to employees, and to carry part to a Beserve Fund for the equalisation of dividends, and |or the distinct object of starting or jnvesting in such local industries in, •ihe district as prove conducive tp the welfare pf the shareholders, employ labour, find promote the 'weal'li and population of the district. Tho Association will, wherever sufficient inducement is offered by settlers aud others. «tnd subject to the consent of the shareholders, endeavor r to ally itself ov amalgamate -with similar institutions, and thus, by sharing the cost of management and coudnefc of business, reduce expenses and enlarge its sphere of .usefulness. This is far from being a speculative ■concern. The business of the vendors thas been carried [on success fully for <yeats, and the promoter have such 'confidence in the future of the Association that they are prepared, sc Jone- as they have fair representation on the Board oi Management undei the control of Mr Cohen, to guarantee that the dividend for the next twe yeatß vhall not be less than 6 per should bo plainly understood