Page 4 Advertisements Column 2

Nelson Evening Mail, Volume IX, Issue 154, 1 July 1874, Page 4

Public Notices. PROSPECTUS OF THE COLONIAL BANK oe NEW ZEALAND. CAPITAL ... ~~ ... £2,000,000 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; 5s two months after allotment; Ss four months after allotment; 5s six months after allotment; which will amount to £300,000 paid up Capital at end of six months. No further call will be made for 12 months after the Bank is first opened in Dunedin, and future calls will rot 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 Charles Haktmanx, Esq., of Messrs. Natb. Ed ward 3 & Co., Merchants J. E. Mabin, Esq., Auctioneer, &c. I JosEFH Mackat, Esq., Nelson College. Bankers : 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 feit, it has been determine J by the Provisional Committee to supply the same by placing before the public the irisent-carefully considered scheme, with the full confidence that it will meet with very general support. 2nd. A 3. a firat step it is proposed toeflßr to the people of this Colony one-half oi the nominal capital, or 200,000 shares, in fair proportions to each of the Provinces throughout hew Zealand, on the basis of the respective populations of each Province, reserving the otber half to be disposed of hereafter, as the rapid progress of the colony m«y demand and shareholders may decide ; but in no instance will any of the remaining shares be offered for sale ou». of the Colony without having been first offered to the Colonial holders, nor will any but a New Zealand Register be kept. I 3rd. It is intended that the head Office of [ the Bauk shall be in Duoedin, and that a General Manager of high professional standing ehali be appointed to guide the operations of the Bank; and also that a Board of qualified Directors shall be elected from among the Committee to advice with the General Manager, and generally watch the interctta of tiie whole Institution. <*th As soon as a sufficient number of shans have bf en applied for to warrant the commencement of business, the Eead Office will bs opened in Danedin, in suitable premise* already secured under offer, and thereafter Branches will gradually be opened in the chief Centres ol Settlement throughout the Colcny. sih. It will be the thief aim of the Promoters of this Bank to aid and conserve alike the interests of the whole community in this Colony. The Mercantile, Trading, Pastoral, Agricultural, Mining, Artiz-n, and Laboring classes will each have fair treatment and support from the Colonial Bank. Jo the Mining Interest specia' attention will be given with a desire to acquire for the Miners the Mint value of their gold, whether in large or email quantities, and until such value can be ascertained a liberal advance will be made upon any gold deposited for the purpose of coinage. 6th. It is not intendel by the promoters that this Bank shall purchase gold but merely be prepared to n ake advances upon it until realised, in the tame manner that it will be ready to do upon wool, grain, or oth:r prodace.. 7 th. The omonnt of New Zealand Money in the bands of the three Banks from Australia trading in the Cokny on the 31st December last, as shown by their several returns furnished to the Government, appear thus, withcut giving odd numbers :— Deposits. Circulation. Total." Union Bank "~ of Australia £€70,000 £123,425 £993,425 Bank of New South Wales 560,000 104.849 604,819 Bank of Australasia ... 193,000 38,962 231,962 Showing a total of ... £1,890,236 or nearly two millions of money belonging to Colonirti 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 grod of commerce in Victoiiicr New bouth Wales; or for tiie bene flcUi regulation of their exchange operations in those Colonies. Bth The Promoters, in placing the foregoing facts before the people of this Colony, desire to point out the very great disadvantages that Colonitts are sure to labor under lendi' g— or rather giving— such a large sum of money as stated above to foreign Banks, to be lent back to the people here at very high rates of interest, and on most arbitrary conditions. They there ore ime no hesitaion in suggesting the prudence and wisdom of the Colonists keeping within, their own domain the absolute control of their own monies; as by bo doing they will most effectually destroy the risk of future monetary disturbances, which they have had on more than one occasion to deplore in the past, brought about solely by some crisis that has occurred in one or otber of the 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 ehali be conducted by Committees to be appointed severally in ihe chief City in each Province; and no Shares will be given or reserved to the Promoters;, but each member of the Provisional Committee is willing to become a subscriber for the number of Shares standing opposite bis name.* 10th. It i? proposed at the issue of Shares above reerredto, 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 and payable two months alter Allotment; that a Second Call of 5s per share be made and payable four months alter Allotment ; and that a Third Call of ss. per ebare be made and payable six months after Allot* ment— making together 30s. paid-up per Bhare. No further Call to be made within ; twe've months of the Bank first commencing Dufliness in Donedin ; after which, future Calls will not exceed ss. per Share, nor be nude at shorter intervals than three months between each Call. 11th. The Act of Incorporation for this Bank will be so framed as to limit the liability of the Sbareho'de^s 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 Zealand" to the support of all Colonists having the real welfare of New Zealand at heart. Sachjan 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, both as an investment for the savings of the people and as a useful Bank. . Judging from the influence and sound experience