Page 1 Advertisements Column 1

Manawatu Herald, 4 October 1892, Page 1

FROSPECTUS . . OF The Manawatu Farmers' Co-operative Association, Limited. Incorporated under "The Companies Act, 1882." Capital £loo,ooo. Divided into 20,000 Shares of £5 each, with power to increase as required. Payable as follows : 5a on application, 5s on 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 case will further calls be made exceeding 2s 6d per month. PROVISIONAL DIRECTOES : J. D. B Hbwitt, Capt, E.N. W, S. Gabdner, Esq. J. E. Nathan, Fsq. P. P. Snow, Esq. L. Wallis, Esq. (Wallis A Smith) James Stubbs, Esq. M, Cohen, Esq. With power to add to their nnmber. BANKERS: The Bank of Australasia. SECRETARY : To be appointed. SOLICITORS : (To be appointed at Palmerston.) PROSPECTUS. *Tp HE Association has been formed V for the purpose of acquiring the old established and successful General Business of Messrs Josrepn Nathan & Co. at Palmerston North, in the Manawa'u District, and thereafter to carry on a general business upon the co-operative principle , un der which shareholders and oustomers of the Association will share in the j profits, according to methods to be j determined from time to timo by the j Directors, and for the other purpose ; n entioned in the Memorandum ot ', Association, a oopy oi which 's en- ! dorsed on this prospeotus. j An association of this nature re* J quires, in the chief entree, commodious business premises replete with facilities for economically and expedi tiously carrying on the distributing trade. . Experienced managers, with a thorough knowledge ot local requirements, are indespensible for the efficient cooduot of the business, and for keeping good saleable cltan atooW . It is neeessaTy to kaow in what markets, at what seasons, and in what quantities to buy their requirements. It is of even greater importance t'> know how. where an! when to export or otherwise dispose of the produce to the best advantage. Bnt the realdifticulties of aU such institutions is the beginning ; for they must have capital at oommand, and have such finan* cial arrangements, not only in tiie Colony, but in the various markets 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 of tie Association after payment of expenses will belong to and be distributed amongst the shareholders. It is at present pro* posed after payment to shareholders of a dividend of 7 per cent, upon amount of paid up capital to divide part of the balance of the profits amongßt 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 suob local industries in the distriot 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 setters and others, und subject to the consent of the shareholders, eu« deavocr to ally itself or amalgamate with similar institutions, and thus, by sharing the' cost of management and conduct of bußin?BS, reduce expenses and enlarge its sphere of usefulness. ' - This iß"fa* from being a speculative concern. The business of the vendors has been oarriedUn successfully for yeaTS. and 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 the dividend for the next two years fhril not be >ss than 6 per Ci Xt ihoutd bt plainly understood