Page 2 Advertisements Column 3

Oamaru Mail, Volume III, Issue 634, 15 May 1878, Page 2

LATE ADVERTISEMENTS : j phesbyt;: i:ian soiree. 2 ANNUAL SOIREE of St. Paul's Presbyterian Church will bo held in the Volunteer Hall, on WEDNESDAY, 15th INST. Addresses will be delivered by tho Revs. Dr. Stuart, P. Barclay, H. Dewsbury, J. Stevens, J. Cameron, and other gentlemen. Tea on the table at (>'. 30. Tickets, to be had at the principal stores aud shops, 2s Gd each ; Children under 12, Is Gd. 597 UNION FIRE AND MARINE INSURANCE COMPANY OF NEW ZEALAND. SHAREHOLDERS arc hereby reminded that, in accordance with the terms of theArticles of Association of this Company, a CALL OF TWO SHILLINGS AND SIXPENCE per Share on Shares standing in their names in tho Company's Books on this day's date will be DUE on tho Ist JUNK next, payable at tho Union Bank of Australia, Oamaru. All overdue calls will be charged interest at tho rate of 15 pi>r cent, per annum till such time as they may be paid. W. DEYENISH MEARES, General Manager. Christehurch, Ist May, 187 S. 584 COLONIAL INSURANCE OOM.I PANY 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 thcroon, making £IOO.OOO Cash Capital. First Issue, 100.000 Shares. 2s. (id. per share payable on application ; 2s. (id. upon allotment ; and ss. per Bhare at call, nob less than three months after Chief Ollice Wellington. BOARD OF DIRECTORS. ( 'llAlliMAN : The Hon. C. J. Piiauazvn, M.L.C., Chairman 1 ocal Hoard Australian Mutual Provident Society. VICE-CIIAIUMKN : The Hon. Randall Johnson, M.L.C., Managing Director Northern Land and Loan Company Jacoji Josrcrjf, Esq., Merchant A. vk B. Buandon. Esq., M.H.R., Local Director Australian Mutual Provident Society E. W. Hills, Esq., Merchant The Hon. M. S. Ciiack, M.L.C., Local Director Australian Mutual Provident Society Waltkii.L Nathan, Esq., Merchant Local Dikkctoks, Ciuustciiurcii. Hon. Kiiwn. KiciiAiiiisoN, M.H.R. Hknry W. Lke, Esq., of Messrs. Ward and Co. W. Savnmki;s, Esq., of Messrs. Saunders and Henderson C. W. Ti'KNEit, Esq., Merchant. Solicitous : Messrs. Brandon and Son-, Wellington. (.'lnkual Manager : Gr.oucu Samuel Graham (Now Inspector Norwich Union Society). Bankkks: The Bank ok Nkw Zealand. Skcuktakv : For organisation (and subsequent agent for Canterbury), Mr. FIJKDK.. E. A. (iICAJIAM. Copies of the Memorandum and Articles of Association can be seen at tho Ollice 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 lie received. Tlie Directors each subscribed for LIOOO cash (being part of ordinary capital) pnor to the formation of the Compauy, and have undertaken its organisation as a thoroughly Colonial Institution, with head-quarters at Wellington. One-half only of the shares will bo immediately issued, and the Directors, having already apportioned a considerable number in securing a large amount of important support, arc prepared to place the available balance in fair proportions throughout the Colony with persons whose business or influence is calculated to be valuable to the Company ii\ the mutual interests of all concerned. The Company being thus possessed of strong insuranoo support, and being ablo to oiler the public the guarantee of amplo cash capital, with thorough security, will commence business, the whole of tho remaining 100,000 shares being reserved for allotment in successive issues to aotual insurers with the Company, under tho provisions of tho Articles of Association, in proportion to tho insurance) premiums paid by them. Tho proportion of shares for issue, compared to the amount of pounds sterling of insurance premiums paid, will bo declared from tima to time at the discretion of the Directors, so as to offer a continuous inducement t»> insurers to join tho Company. Several of the Directors havo had experience of the great advantage of mutuality in connection with the most successful of Life Assurance Association existing, and, after long consideration, the Board are satiFlied that the prosent proposal comprehends the most praotioal embodiment of that principal applicable to Fire and Marino business. The Directors are fully alive to the importance of considering in the first allotment the great body of small insurers, and they havo also determined, notwithstanding any pressure, upon maintaining tho eliief point of their proposal, viz., that they will keep in hand the whole of tho romaininfl 100,000 shares for future, allotment to actual insurers upon the definite and equitahlo basis above stated, which places all ranks of insurers upon an equal footing The Directors have therefore calculated upon tho following results, viz. : That the method of fixing tlie capital will attach a largo amount of business, and that the Company will have the sympathies of tho public aa a Colonial Institution, open to all insurers upon a mutual principle, and yet backed by large capital, security, and business. The Companies hitherto formed have bocn uniformly successful, and the rapid progrcsß 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 bo similar to whatever may be current from time to time, as tho insured will be enabled to participate W nearly as possible in proportion to tho profits derivable therefrom. It is not anticipated that any f nrther call? will be made. The applications for sharosi \yi\\ b,e oonn sidered as received, and tho Lists will he closed in each Province at tlm discretion oi the Directors. 7 he Bank of New Zealand i» now prepaid to receive applications for aha/ret. $79