Page 4 Advertisements Column 2

Nelson Evening Mail, Volume IX, Issue 160, 8 July 1874, Page 4

Public Notices. PROSPECTUS OF THE 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; 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 not exceed 5s per share, to be made if required, at intervals of not less tban three months thereafter. NELSON LOCAL COMMITTEE. W. Acton B. Adams, 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 determine! by the Provisioral Committee to supply the game by placing te'ore the public the present-carefully considered scheme, witb the full confidence that it wiil meet with very gtneral support. 2nd. As a first step it is proposed tooflvr to tbe people of this Colony one-half of the nominal cap'tal, or 200,000 shares, in fair proportions to each of the Provinces throughout Few 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 m«y demand and shareholders may decide ; but in no instance will any of the remaining shares be offered for sale out of the Colony without having betn 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 ehall be appointed to guide the operations of the Bank; and alao that a Board of qualifitd Directors shall be elected from among tbe Committee to advise with the General Manager, arid generally watch the interests of the whole Institution. 4 th. As soon as a sufficient number of shares have been applied for to warrant the commencement of business, the Dead Office will bd opened in Dunedin, in suitable premises 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, Mining, Aitiz*n, and Laborir.g classes will each have fair treatment and support from the Colonial Bank. To 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 nntil such value can be ascertained a liberal advance will be made upon any gold deposited ior the purpose of coinage. 6tb. It is not intended by the promoters that this Bank shall purchase gold but merely be prepared to u ake advances upon it until realised, in the same manner that it will be ready to do upon wool, grain, or other pro* duce. ?tb. The amount of New Zealand Money in the bands of the three Banks from Australia trading in the Colcny on the 31 at December last, ss shown by their several returns furnished to tbe Government, appear thus, without giving odd numbers :— Deposits. Circulation. Total. Union Bank of Australia £870,000 £123,425 £993,425 Bank of New South Wales 560,000 104,849 684,849 Bank of Australasia ... 193,000 38,962 231,962 Showing a total of ... £1,890,236 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 tie convenient for the gcod of commerce in VictoiiaorKewfcouth Wales; or for the bene flcial regulation of their exchange operations in those Colonies. Bth The Promoters, in placing the foregoing fids before the people of this Colony, desire to point out the very great disadvantages that Colonists are sure to lab?r 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 moat arbitrary conditions. They therefore hive no heaita ion in suggesting the .prudence aud wisdom of the Colonists keeping within their own domain tbe absolute control of their own monies; ashy eo doing they will most effectually destroy the rhk 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 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 determined by the Promoters that the fi st isiue 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 given or reserved to the Promoters; tut each member of the Provisional Committee is willing to become a subscriber for tbe number cf Shares standing opposite bis name.* 10th. it is proposed at the issue of Shares above re erred to, that 5s per share be paid on Application ; that 10s per ahare 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 ana payable four months after Allotment ; and that a Third Call of ss. per bhare be made and payable six months after Allotment—making together 30a. pa'd-up per bhare. No further Call to be made within iwe've months of the Bank flret commencing ousiness in Dunedin ; after which, future Calls will not exceed sb. per Share, nor be nnde at shorter intervals than three months between each Call. Ilth. Tbe Act of Incorporation for this Bank will be so framed as to limit tbe liability 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 Colonial Bank of New Zealand" to the support of all Colonists having the real welfare of New Zealand at heart. Such an Institution ia much wanted at the present time, and as the development ot' 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 Irom the influence and Bound experience