Page 2 Advertisements Column 4

Oamaru Mail, Volume III, Issue 627, 7 May 1878, Page 2

LATE ADVERTISEMENTS LODGE WAITAKI, 1111, E.C. "NSTALLATION of. OFFICERS on • WEDNESDAY EVENING, the Bth Inst., at 7.30 sharp. A BANQUET will be held after the Installation. Sojourning brethren are cordially invited. Tickets, 10/6. By order of the W.M. GEORGE BROWNLEE, 574 Secretary. /~\WING to the Volunteer Hall being engaged on Wednesday night, the USUAL DRILL of the Citizen Cadets will NOT BE HELD THIS WEEK. By order. A. M'CORKINDALE,, 575 Captain Commanding. WAITAKI AMATEUR ATHLETIC CLUB. " GENERAL MEETING of the above --*- Club will be held at the Royal Hotel on SATURDAY next, at 8 p.m. GEORGE S. LINTOTT, 580 Hon. Sec. THE COLONIAL INSURANCE COMPANY OF NEW ZKALAND. (Registered under the Joint-Stock ComFIRE AND MARINE INSURANCE. Capital £2,000,000 Sterling, In 200.000 Shares of £lO each. Ten Shillings per Share payable thereon, making £IOO,OOO Cash Capital. First Issue, 1(10,000 Sharc-s. 2s. (>d. per share payable on application ; 2s. (id. upon allotment ; and ss. per share at call, not less than threo months after registration.

"Wellington. BOARD OF DIRECTORS. Chairman : The Hon. C. J. Pharazyn, M.L.C.,. Chairman T ocal Hoard Australian Mutual Provident Society. Vtck-Cuairmen : The Hon. Eandai.l Johnson, M.L.C., Managing Director Northern Land and Loan Company Jacob Juskph, Esq., Merchant A. de B. Brandon. Esq., .M.H.R., Local Director Australian Mutual Providcm Society K. W. Mills, Esq., Merchant The Hon. M. S. Grace, M.L.C., Local Director Australian Mutual Provident ■Society Walter J. Nathan, Esq , Merchant Local Directors, Christchurcii. Hon. Edwp. Kictjardson, M. U.K. Henry W. Lee, Esq., of Messrs. Ward and Co. W. Saunders, Esq., of Messrs. Saunders and Henderson 0. "W, Tirner, Kfq., Merchant. Solicitors : Messrs. Brandon and Son, "Wellington. General Manager : George Samuel Graham (Now Inspector Norwich Union Society). Bankers; Tiie Bank, of New Zealand. Secrutarv : For organisation (and subsequent agent for Canterbury), Mr. Fkedk. E. A. Graham.

Copies of the Memorandum and Articles of Association can be. seen at the Office of the Company, and at any of the Brandies of the Bank of New Zealand, where forms' of application can be obtained, and deposits* will be received.. The Directors each subscribed for LIOOO cash (being part of ordinary capital) prior to the formation of the Company, and have undertaken its organisation as a thoroughly Colonial Institution, with head-quarters at Wellington. One-half only of the shares will be immediately issued, and tho Directors, having already apportioned a considerable number \g a large amount of important re prepared to place the available balance in fair proportions throughout the Colony with persons whose business or infill encc is calculated to be valuable to the Company in the mutual interests of all con eerned. The Company being thus possessed of strong insurance support, and being able to offer the public the guarantee of ample cash capital, with thorough security, will commence business, the whole of the remaining 100,000 shares being reserved for allotment in successive issues to actual insurers with the Company, under the provisions of the Articles of Association, in proportion to the insurance premiums paid by them. The proportion of shares for issue, compared to the amount of pounds sterling of insurance premiums paid, will be declared from time to time at the discretion of the Directors, so a3 to offer a continuous inducement to insurers to join the Company. Several of the Directors have had experience of the great advantage of mutuality in connection with the most successful of Life Association Assurance existing, and, after long consideration, tho Board aic satisfied that the present proposal comprehends the most praciical embodiment of that nrinoipal applicable to Fire and Marine business. The Directors are fully alive to tho importance of considering in the first allotment the great body of small insurers, and they have also determined, notwithstanding any pressure, upon maintaining the chief point of their proposal, viz., that they will keep in hand the whole of the remaining 100,000 shares for futuro allotment to actual insurers upon the definite and equitable basis above statf-d, which places all ranks of insurers upon an equal footing Tho Directors have therefore calculated upon the following results, viz : That the method of fixing the capital will attach a large amount of busiuess, and that the Company will have the sympathies of the public as a Colonial Institution, open to all insurers upon a mutual principle, and yet backed by large capital, security, and business. The Companies hithorto formed have been uniformly successful, and the rapid progress of the Colony fully warrants the formation of a similar (institution in its Capital City. The rates and general terms of business of the Company will be similar to whatever may be current from time to time, as the insured will be enabled to participate as nearly as possible in proportion to the profits derivable therefrom. It is not anticipated that any fnrther calls will be made. The applications for shares will be considered as received, and the Lists will be closed in each Province at the discretion of the Directors. Ihe Bank of New Zealand is now prepared to receive applications for shares. 579