Page 4 Advertisements Column 2

Nelson Evening Mail, Volume IX, Issue 152, 29 June 1874, Page 4

PROSPECTUS OF THE COLONIAL BANK 02 NEW ZEALAND. CAPITAL £2,00.0,000 In 400,000 shares of £5 each. To be offered to the public by a first issue of one-half, viz., 200,000 shares. To be called up as follows : — Five shillings on application; 10s on allotment; Ss two months after allotment; 5s four months after allotment; 5s six months after allotment; which will amount to £300,000 paid np Capital at end of six months. No further call will be made for 12 monthi after the Bank is first opened in Dunedin, and future calls will not exceed 5s per share, to be made if required, at intervals of not less than three months thereafter. NELSON LOCAL COMMITTEE. W. Acton B. Adams, Esq., M.P.C., Solicitor. P. Donald, Esq., of Messrs. Arthur & Co., Merchants Chables Habtmann, Esq., of Messrs. Nath. Enwards & Co., Merchants J. R. Mabin, Esq., Auctioneer, &c. Joseph Mackay, Esq., Nelson College. Bankees : The Union Bank of Australia. The Bank of Australasia. Ist. The great want of a thoroughly Colonial Banking Institution for the ' whole Colony of New Zealand having long been felt, it has been determined by the Provisional Committee to supply the same by placing before the public the pr? sent-careiully coneidered scheme, with the full confidence that it will meet with very general suppirt. 2nd. As a first step it is proposed to offer to the people of this Coiony one-half of the nominal capital, or 200,000 shares, in fafr proportions to each of the Provinces throughout New Zealand, on the basis of the respective populations of each Province, reserving the other half to be disposed of herealter, as the rapid progress of the colony may demand and shareholders may decide ; but in no iustonce will any of the remaining sharss be offered for sale out of the Colony without having been first offered to the Colonial holders, nor will any but a New Zealand Register be kept. 3rd. It is intended that the head Office of the Bank shall be *in Dunedin, and that a General Msnager of high professional standing shall be appointed to guide the operations of the Bank; and also tbat a Board of qualified. Directors shall be elected from among the Committee to advise with the General Manager, and generally watch the interests of the whole Institution. 4th, As soon as a sufficient number of shan s have been applied for to warrant ;the commencement of business, the Head Office will be opened in Dunedin, in suitable premise* already secured under offer, and thereafter Branches will gradually be opened in the chief Centres of Settlement throughout the Colony. fith. It will be the chief aim of the Promoters of this Bank to aid and conserve alike tbe interests of the whole community in this Colony. The Mercantile, Trading, Pastoral, Agricultural, Miniog, Artiz^n, and Laboring classes will each have fair treatment and support from the Colonial Bank. To the Mining Interest special attention will be given with a desire to acquire for the Miners the Mint value of their gold, whether in large or small quantities, and until such value can be ascertained a liberal advance will be made upon any gold deposited' for the purpose of coinage. 6 th. It is not intended by the promoters .that this Bank shall purchase gold but merely ' bu prepared to n ake advances npon it until realised, in the same manner that it will be , ready to do upon wool, grain, or other pro--1 duce. ••'!".. 7th. The amount of New Zealand Money in the bands of the three Banks from Australia trading in the Colohy on the 31st December last, as shotfn by their several returns i furnished to tbe Government, appear thus, without giving odd numbers : — Deposits. Circulation. Total.~ Union ' Bank of Australia £870,000 £1 ; 23,425 £993,425 Bank. of New South Wales 560,000 104,849 664,849 Bank of Australasia ... 193,000 38,962 231,962 Showing- a 1 total of ;.. £1,890,236 or' nearly two millions of'inoney belonging to Colonists entrusted to Boards of Directors in Melbourne or Sydney, to control or manipulate as it may please their tastes; or as it may be convenient for the gcod of commerce in Vic toiia or New South Wales; or for, the (bene ficial regulation of their exchange operations in those Colpnies. • Bth The Promoters, in placing the foregoing facts. before the people of this Colony, desire to point out the very great disadvantages 7 that Colonists are sure to labor under lendirg— or rather giving— such a large sum of money *s stated above to foreign Banks, to be lent back to the people here at very high rates of inte*«st, and on most arbitrary conditions. They there ore have no hesitation in suggesting the prudence; and wisdom of the Colonist^ keeping within their own domain the' absolute control of their own monies; as by so doing th^y will mopi 'effect u-! ally destroy the 'tiek 'bf^ldture ' fnohetary disturbances, which they hive had on more than one occasion to deplore in the past, . brought about solely , by some crisis that has . occtjEredUn.on.i6 ;.or other ofthe Australian Colonies, where the real interests of the foreign Bank most strongly take root. 9th It has been 'determined by the Promoters that the first issue of 200,000 Shares shall be conducted by Committees to be appointed severally in ihe chief City in each Province; and no Shares, will be glyen or reserved to the Promoters; but each member ofthe Provisional Committee is willing to become a subscriber for the number of Shares standiog opposite his name.* 10th. It is proposed at the issue Of Shares above referred to, that 5s per share be paid on Application ; that 10s per share be paid on Allotment ; that a Call of 5s per share be made arid^ payable „twp- months After Allct- r merit; that a Se^gnd Call of 5s per share be made and payable four months after Allotment ; and tha%i ; Third Call of ss. per share be made and payable six months after Allotment— making . together 30s. paid-up per Share. No further Call to be made within twelve months of the Bank first commencing oUBineBB in Dunedin ; after which, future Calls will not exceed ss. per Share, nor be m ide at shorter intervals than three months between each Call. llth. The Act of Incorporation for this Bank will be so framed as to limit the liability of the Shareholders to twice the amount of their shares, the same as the other Banks. 12th. As a thoroughly Colonial Institution, the promoters have much pleasure in strongly recommending "The Colonial Bank of New i Zealand" to the support of all Colonißts having the real welfare of New Zealand at heart. Such an Institution is much wanted at the present time, and as the development of the Colony proceeds, its usefulness will also increase, and be more and more appreciated, Jbptfcas an investment for the savings of^fte^pepplfeandiasausehili^ank. i Judging frbfiifjthe; influence and sound experience possessedby the promoting Members of Com- ' mitte^ it is certain that.nq similar Institution Ka^#er yet Jwsen lat»nch|din .the 'Southern k hemisphere under better "auspices.