Page 1 Advertisements Column 1

Manawatu Herald, 27 September 1892, Page 1

PROSPECTUS OF The Manawatu Farmers' Go-operative Association, Limited. Incorporated under "The Companies Act, 1882." Capital £1 00,000. Divided into 20,000 Shares of £5 each, with power to increase as required. Payable as follows : 03 on application, fis ou 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 cage will further calls be made exceeding 2a 6d per month. PROVISIONAL DIRECTORS : J. D. R Hewitt, Cap., R.N. W. S. Gakpnkr, Esq. J. E. Nathan, Fsq. V.?. Snow, Esq.. li. Wau-w, Esq. (Wallis & Smith) James Stobbs, 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 Palraerston.) PROSPECTUS. rp HE Association has been formed I for the purpose of acquiring the old established and successful General Busines3 of Messrs Joseph Nathan & Co. at Palmerston North, in the Maoawa'u District, und there' after to oarry on a general business upon the co-operative principle, under waioh shareholders and oustomeru of the Association will sbare in the profits, according to methods to be determined feoin time to time by the Directors, and for the other purpose mentioned in the Memorandum ot Association, a oopy of which 's endorsed on this prospectus. An association of this nature requires, in «he chief c ■-ntres, commodious business premises replete with | i*Hciiiti< s for economically and expedi tiousjy carrying on the attributing trade. Experienced managers, with a thorough knowledge ot local requirements, ar< indospensible for the j efficient conduct of. tbe business, and for -keeping good saleable oleau atooksi.; . It is necessary to know m what markets, at .what seasons, and in what quantities to buy their requirements. It is 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 of all such institutions is the begin- ( ning; for they must have capital i at command, and have such finan* eial arrangements, not only in tbeColony, but in the various maikets of the world, as will inspire the utmost confidence, to enable it to build up a first class credit and good nanie> and thus transact business on rook bottom limits. Tbe 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 pattof the balance of the profits amongst the shareholders, according to tjhe.amoirot of business done by each, and a bonus to employees, and to carry part «o a Reserve Fund for the equalisation of dividends, and for, the aistinot object of starting or investing in suoh local industries in the district as will prove conducive to the welfare of the sharebolders, employ . labour, and promote the wealth and population of the district. The Association will, wherever inducement is offered by Hetile?* and others, und subject to tb,e consent of the shareholders, enfleftvoi: r to ally itself or amalgamate with similar institutions, and thus, « t>y sharing &c oost of management pud cobiluot of business, reduoe expeiwtfPi.itud enlarge its sphere of usefulness, i This is far fiom beiug a speculative concern. The business of the vendors hasvbeen oarriealon successfully for years; and the promote' B have such confidence in the future of the Association that they are prepared, bo Jong, as they have fair representation on the Board oi Management under tnefcbotrol of/Mr Cohen, to guarantee that the dividend for tbe next two yei*Bj?iiall;»otbe lesa than 6 per Ccl Jt diou'd be pllinly una««to-d