Page 4 Advertisements Column 2

Nelson Evening Mail, Volume IX, Issue 158, 6 July 1874, Page 4

Pnblic Notices. PROSPECTUS OF T^E COLONIAL BANK op 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; 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 .bars, to be made if required, at intervals of not .ess than three months thereafter. NELSON LOCAL COMMITTEE. W. Acton B. Adasis, Esq., M.P.C., Solicitor. P. Donald, Esq., of Messrs. Arthur & Co. Merchants Charles Habtmann, 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 the Provisional Committee to supply the same by placing be f ore the public the present-carefully coneidered scheme, with the full confidence that it will meet with very general support. 2nd. As a first step it is proposed to offer to the people of this Colony one-half ot the nominal capital, or 200,000 shares, in fafr proportions to each of the Provinces throughout lsew Zealand, on tbe basis of the respective populations of each Province, reserving the other ltalf to be disposed of hereatter, as the rapid progress of the colony may demand and shareholders may decide ; but in no instance will any of the remaining shares be offered for sale out ot the Colony without having betn fir6t offered to the Colonial holders, nor will any but a New Zealand Register be kept. 3rd. It is intended that the head CfHce of the Bauk shall be in Duoedin, and that a General Msnagvr of high professional standing ehali be sppointed to guide the operations of the Bank; and also that a Board of qualifltd Directors shall be elected from among the Committee to advise with the General Manager, and generally watch the interests of the whole Institution. 4th Aa soon as a sufficient number of chares have been applied for to warrant the commencement of business, the Head Office will b. opened in Dunedin, in suitable premises already secured under offer, and thereafter Branches will gradually be opened in the chief Centres of fc ettleraent throughout the Colony. sth. It wilr be the chief 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*m, and Laboring classes will each have fair treatment and support from the Colonial Bank, lo the Mining Interest specta* 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. 6tb. It is not intended by the promoters that tbis Bank shall purchase gold but merely be prepared to uake advances upon it until realised, in the same manner that it will be ready to do upon wool, grain, or other produce. "th, The s mount of New Zealand Money in the hands of the three Banks from Austral.*-*, trading io the Colony on the 31st December last, ss shown by their several returns furnished to the Government, appear thus, without giving odd numbers : — Deposits. Circulation. Total. Union Bank of Australia £670,000 £123,425 £993,4.5 Bank of New South Wales 560,000 104,849 664,849 Bank of Australasia ... 193,000 38,962 231,962 Showing a total of ... £t,.90,236 or nearly two millions of money 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 Victoiia cr New fcouth Wales; or for the bene ficial regulation of tbeir exchange operations in those Colonies. Bth The Promoters, in placing tbe foregoing facts before the people of this Colony, desire to point out tho 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 very high rates of inteie9t, aad on most arbitrary conditions. They there-ore have no hesitation in suggesting the prudence and wisdom of the Colonists keeping within their own domain the absolute control of their own monies; as by co doing they will most effectually destroy the risk of luture monetary disturbances, which they have had on more than one occasion to deplore in tbe past, brought about solely by some crisis that has occurred in one or other 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 Shareß shall be conducted by Committees to be appointed severally ia 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 wiliJDg to become a subscriber for the number cf Shares standing opposite bis name.* 10th. It is proposed at the issue of Shares above referred to, that 5a per share be paid on Application ; that 10s per share be paid on Allotc-cnt ; that a Call of 5s per share te made and payable two months after Allotment; that a Second Call of 5s per Bhare be made and payable four months after Allotment ; and that * Third Call of ss. per thare be made and payable cix months after Allotment—making together 30s. paid-up per bhare. No further Call to be made within iwe'vc- months of the Bank first commencing Business in Donedin ; after which, future Calls will not excted ss. per Share, nor be m»de at shorter intervals than three months between each ('all. 11th. The Act of Incorporation for this Bank will he so framed as to limit the liatility of the Shareho.ders 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 Coloniai. Bank of New Zealand" to the support of all Colonists having the real welfare of New Zealand at heart Suchan 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