Page 3 Advertisements Column 4

Nelson Evening Mail, Volume V, Issue 158, 7 July 1870, Page 3

PKOSPECTUS OF THE • ■ . „ ~fcTEL3ON PATENT SLIP COMPANY; To be registered under ike Joint' Stock Company'sLimited Liability Act, 1860. CAPITAL, £10,000 in 2000 Shares, of £o Eachi. Provisional Directors : Honorable Thomas Renwick,.M.L.C , Chairman,. Mr Alexander Brotvn Mr Thomas R. Fisher: „ James Burnett „ Thomas Freemaw „ Arthur S. Collins „J. Henry „ Jamfs Cross „ Henry Hounsellu •' ; „ j. r. dodson „ m. llghtband „ Henry Drew „ J. R. Mabik „ Edward Everett „ Thomas MackatI Mr John Scott. Bankers : The Union Bank of Australia. Solicitors : Messrs. Adams and Pitt. Secretary : Mr. John M'lntosh. Registered Office : Mr. M'lntosh's Office, Trafalgar-street,. Nelson. 1. The object of this Company is to supply a* long-felt want in connection with the shipping interest of this Province, viz:- A means whereby thelarge fleet of Local and Inter-Provincial steam and sailing vessels may have a speedy, safe, and» convenient method of getting repairs effected at Nelson, thereby maintaining the reputation of its Harbor, as one of the best suited for the purpose in New Zealand. 2. As a means of promoting this enterprise, the Provincial Government, although unxble topromise a lease for a longer period than twentyone years, will grant a lease of a suitable site, rent free, for that term, and at the end of suoh term the Government to h ive the option of parchasing the Slip and Buildings at a valuation, or they will either rgn.ew the lease for a further term of twenty-one years, or else allow the Company to remove the Slip, with all Machinery and Buildings, from the site leased. 3. The Provincial Government, further recognising the importance of the proposed works, are prepared to guarantee interest on the capital expended at the rate of £10 per cent, per annum for ten years, in terras of the Nelson Patent Slip and Dry Dock Act, 1867, and the Nelson Patent Slip and Dry Dock Act Amendment Act, 1869,, to any Company that will undertake and complete the necessary works. 4. The estimated cost of the intended woi ks is £7000, and it is proposed that, should the rtoss proceeds be in excess of the working exposes and repairs, so much of such excess, to the ci centof 5 per centum per annum on the capital, shall, in the first place, be yearly S3t apart as a Sinking Fund for the redemption of said capital. 5. As soon as Shares in the Company, representing capital to the extent of £7,000, are subscribed for, a Deed of Association will be prepared. Permanent Directors elected, a Slip on Morton's patent principle, capable of taking up vessels of 500 tons register, procured, and the necessary works for its erection proceeded with. 6. Such a favorable scheme has seldom been laid before the public of Nsw Zealand, seeing that for the first ten years interest at the rate of £10 per cent, is guaranteed. Besides, should the gross receipts exceed the working expenses, and thereby enable a Sinking Fund to be set apart^ the capital invested will be considerably reduced. However, without the aid of the Governmentguarantee, looking to the progress these Coloniesare making, and their rapidly increasing shipping, interest, a speculation of the kind is worthy the attention of investors, even on its own merits^ Moreover, considering the number of workmen* employed' in this and the sister Colonies in therepair of ships, the indirect benefit to Nelson, by the erection and working of the proposed .Slip,. would be of great importance. 7. Application for Shares, with a deposit of £1 per Share, must be made in the annexed form;the balance in calls, not exceeding £1 per Share, at intervals of not less than one month, or such extended time as the Directors may deem expepedient, of which one month's notice for the payment thereof will be given by advertisement in at least one of the local newspapers. FORM OF APPLICATION FOR SOARES.TO THE PROVrSIONAL DIRECTORS OF THE NeL— son Patent Slip Company Gentleman— l beg to make application for; Share in the above Company, for which I enclose (in terms of the Prospectus) £ being the deposit of £1 per Share* and I hereby agree - to pay the residue of the said Share if allotted to • me, and further, to sign the Deed of Association.. when called upon to do so by the Provisional. Directory. Date Name, in full Address Business 1197 Signature-