Page 2 Advertisements Column 4

Oamaru Mail, Volume III, Issue 629, 9 May 1878, Page 2

LATE ADVERTISEMENTS CI P • E C I A L. NOW READY FOR DISTRIBUTION LITHOGRAPHED PLANS FREEHOLD FARMS SHEEWOOD-MAKIKIHI. TO BE SOLD BY PUBLIC AUCTION, FRIDAY, 10th MAY, At Messrs. Miles, Archer, and Co 's Stores, Timaru. MILES, ARCHER, AND CO., Timaru ; MILES, HASSAL, AND CO., 541 Christchurch. BERLIN WOOLS, BERLIN WOOLS, IN GREAT VARIETY SHADE AND COLOR. Also, a splendid assortment of Choice Patterns in CUSHION SLIPPERS, COSIES, &c, &c. RONAYNE AND COTTRELL. THE COLONIAL INSURANCE COMPANY OF NEW ZEALAND. (Registered under the Joint-Stock Companies Acts) for FIRE 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, 100,000 Shares. 2s. fid. per share payable on application ; 2s. (id. upon allotment ; and os. per share, at call, not less than three months after registration. Chief Office Wellington. BOARD OF DIRECTORS. Cha.irm.vn : The Hon. C. J. Piiakazyn, M.L.C., Chairman local Hoard Australian Mutual Provident Society. YIX'E-Cll AIRMEN : The Hon. Randall Johnson, M.L.C.. Managing Director Northern Land and Loan Company Jacois Joseph, Esq., Merchant A. dk I'.. Brandon. Esq., M.U. I!., Local Director Australian Mutual Provident Society E. W. Mills, Esq., Merchant The Hon. M. S. Grace, M.L.0., Local Director Australian Mutual Provident .Society Walter J. Nathan, Esq., Merchant Local Directors, OmiTSTciirßcn. Hon. Emm. Richardson, M.H.R. Henry W. Lee, Esq., of Messrs. Ward and Co. W. Saunders, Esq., of Messrs. Saunders and Henderson 0. W. Ti RNER, Esq., Merchant. Solicitors : Messrs. Brandos and Son, Wellington. General Manacer : Georoe Samuel Graham (Now Inspector Norwich Union Society). Bask kiss : The Bank of New Zealand. Secretary : For organisation (and subsequent agent for Canterbury), Mr. Fheor. 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 .Branches of the Bank* of New Zealand, where forms of application can be obtained, and deposits will 1)0 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 hrad-quarters at

The Company being thus possessed of strong insurance support, and being able to offer the public the guarantee of ample casli capital, with thorough security, will commerce 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 as to offer a continuous inducement to insurers to join tho 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, the Board are satisfied that the present proposal comprehends the most practical embodiment of that principal applicable to Fire and Marine business. The Directors arc fully alive to the 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, via., that they will keep in hand the whole of the remaining 100,000 shares for future allotment to actual insurers upon the definite and equitable basis above stated, which places all ranks of insurers upon an equal footing The Directors have therefore calculated upon the following results, viz. : That the method of fixing the capital will attach a large amount of business, and that the Company will have the sympathies of tho public as a Colonial Institution, open to all insurers upon a mutual principle, and yet backed by large capital, security, and business. Tho Companies hitherto 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. Jhe Bank of New Zealand is now prepared to receive applications for