Page 4 Advertisements Column 2

Nelson Evening Mail, Volume IX, Issue 161, 9 July 1874, Page 4

Public Notices. PROSPECTUS OF rPHE COLONIAL BANK o_ NEW x 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 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 Hartmaxn, 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 Provisional Committee to supply the same by placing before the public the present-carefully considered scheme, with the full confidence that it will meet with very general support. 2nd. Asa first step it is proposed to ofE* to the people of this Colony one-half of the nominal capital, or 200,000 shares, in fair 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 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 of the Colony without having been firrt 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 6hall be in Dunedin, and that a General Manager of bigh professional standing riiall 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, and generally watch the intercuts of the whole Institution. 4th As soon as a sufficient number of shares have bi en applied for to warrant the commer.cea.ent of business, the Head Office will ba 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. lt will be the chief aim of the Promoters of this Bank to aid and conserve alike the interests of the wbole community in this Colony. The Mercantile, Trading, Pastoral, Agricultural, Mining, Artiz-w, and Laboring classes will each have fair treatment and support from the Colonial Bank. To the Mining Interest special attention will bs given with a desire to acquire for the -liners the Mint value of tbeir 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. 6th. It is not intended by the promoters tbat this Bank shall purchase gold but merely be prepared to v ake advances upon it until realised, in the came manner that it will bd ready to do upon wool, grain, or oth.r prodace. 7 th. The amount of New Zea'and Money in the hands of the three Banks from Australia trading in the Colony on the 31st December last, es shown by their several returns furnished to the Government, appear thns, withctft giving odd numbers :— Paposits. Circulation. Total. Union Rank of Australia ££70,000 £123,425 £993,425 Bank of New South Wales 560.000 104,849 664,849 Bank of Australasia ... 193,000 38,962 231,962 Showing a total of ... £1,690,236 or nearly two millions of money belonging to Colonists entrusted to Boards of Directors in Melbourne or Sydney to coatrol or manipulate as it may please their tastes; or as it may be convenient for the gcod of commerce in Victoiiacr New couth Wales; or for tbe bene ficial regulation of their exchange operations in those Colonies. Bth. The Promoters, in placing tbe foregoing facts before the people of this Colony, desire to point but 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 interest, and on most arbitrary conditions. They thereore hive no hesita ion 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 riak 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 other of the Australian Colonies, where the real interests of the foreign Bank most strongly take root, 9th It bas been determined by the Promoters that the first issue of 200.000 Shares shall be conducted Ly 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 oi'the Provisional Committee is willing; to become a subscriber for the nuffiber of Shares standiog opposi tf his name.* 10th. It is proposed! st the issue of Shares above reierred to, that 5s per share be paid on Application ; that IDs 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 atter Allotment ; and tbat a 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 commenting ousiness in Dunedin ; after which, future Calls will not exceed ss. per Share, nor be mtde at shorter intervals than three months between each Call. llth. Tbe Act of Incorporation for tbis Bank will be so framed as to limit the 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 bare much pleasure in strongly recommending "Tsb Colonial Bank of New Zealand" to the BUpport pf all Colonists having the real welfare of New Zealand at heart. Such an Institution is much wanted at the present time, and a* the development of the Colony proceeds, its usefulness will also increase, and he more and more appreciated, both as an investment for the savings of the people and as a useful Bank. Judging irom fhe influence and sound experience