Page 4 Advertisements Column 2

Nelson Evening Mail, Volume IX, Issue 155, 2 July 1874, Page 4

Public Notices. PROSPECTUS OF THE COLONIAL BANK of NEW x ZEALAND. CAJPITAL „" ... £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 np as follows .- — Five shillings on application; 10s on allotment; 5s two month, after allotment; 5s four months after allotment; 5a 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 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, Eeq., M.P.C., Solicitor. P. Donald, Esq, of Messrs. Arthur & Co. Merchants Charles Hartmann, Esq., of Messrs. Nath. EDwards & Co., Merchants J. R. Mabin, Esq., Auctioneer, &c. Joseph Mackay, 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 felt, it has been determined by tho Provisional Committee to supply the same by placing before the public the present-carefully considered scheme, with tbe full confidence that it will meet with very general support. 2nd. As a first etepit ia proposed to offer to the people of this Colony one-half of the nominal capital, or 200,000 shares, in fair proportions to each of tbe Provinces throughout Kew Zealand, on the basia of the. respective populations of each Province, rrserving $he other half to be disposed of hereafter, as the rapid progress of the colony may demand and shareholders may decide ; but in no iostance will any of the remaining shares be offered for sale out ot the Colony without baviog betn first offered to the Colonial holders, nor will any but a New Zealand Register be kept. 3rd., lt is intended that the head Office of the Bank shall be in Dunedin, and that a General Manager of high professional standing shall 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 advi«e with the General Manager, ard generally watch the intemts of tho whole Institution. .th A. soon as a sufficient number of shares have been applied for to warrant the co nmencement 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. sth. It will be the chief aim of the Promoters of this Bank to aid and conserve alike the interests of. the whole community io this Colony. 'Ihe Mercantile, Trading, Pastoral, Agricultural, Mining, Aitiz _, and Laboring classes will each have fair treatment and support from tha Colonial Bank. To the Mining Interest specia' attention will be given with a desire to acquire for the Miners the Mint valne of their gold, whether in large or small quantities, and until such value can . be ascertained a liberal advance will be made ' npon any gold deposited for the purpose of coinage. 6th. It is not intended by the promoters that this Bank shall purchase gold- but merely be prepared to n ake advances upon it until realised, in the same manner that it will be ready to do upon wool, grain, or other prodace.. 7 7th. The amount of New Zealand Money in tbe bands of the three Banks from Australia trading in the Colony on the 31st December last, as shown by their several returns furniched to tbe Government, appear thus, without giving odd numbera :— _ Deposita. Circulation. Total." Union Bank " ; of Australia £670,000 £123,425 £993,425 Bar . of New ; South Wales 560.000 104,849 604,849 Bank, of Auatralaaia ... 193,000 88,962 231,962 . Showing a total of ... £1,890,236 or nearly two millions of money belonging to Coloni-i. entrusted to Boards of D rectors in Melbourne or Sydney to control or manipulate as it may please their t.stea;. or aa it may. be convenient for the gcod of, commerce in Vic - to-ia c. New . outli Wales; or for the bene flcial regulation of tbeir exchange operations in those Colonies. Btb ,; The Promoters, in placing the foregoing fawts before the. people of this Colony, desire to point out the very -great disadvantages that Colonists 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 high rates of interest, and on most arbitrary cnditions.C They thereore hive no hesita ion in suggesting ; tbe f prudence -Vnd wiadoji of the Colonistsjceepina; wfthitv their ojwn domain the absolute controlof their own monies; as by so doing they will most effectually destroy. the risk of luture monetary distatbanoes, which they have had oii more t^ian one occasion to deplore in 'the past,' brought about solely by some crisis that bas occurred in one or other of the Australian Colonies, where the real interests of the foreign Bank moat strongly take root. 9th It has been determiued 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 Pro/ioce-, and no Shares will be given or reserved to tbe Promoters; but each member of the Provisional Committee is willing to become a sub.criber for the number of Shares standing opposite bis name.* 10th. It is proposed at the issue of Shares above re'erredto, 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 after Allotment; that a Second Call of 5s per share be made and payable four months after Allotment ; and that a Third Call of ss. per thare be made and payable six months after Allot- • ment— making together 30s. paid-up per Share. No further Call to be made within twelve months of the Bank first commencing ousiness in Dunedin ; after wbich, future Calls will not exceed ss. per Share, nor be m«de at shorter intervals than three months between each ("all. 11 th. 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, tbe 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. 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, both aa an investment for the savings of the people and as a useful Bank. Judging from the influence and sound experience