LIMITED LIABILITY.

Otago Daily Times, Issue 311, 18 December 1862, Page 8

LIMITED LIABILITY.

To be Incorporated under the " Joint Stock

Company's Act."

Capital £30,000, In 6,000 Shares of £5 each, with power to increase

the Capital,

A Preliminary Deposit of 10s. per share, payabl to the credit of the Company's account with tf> Bank of New Zealand, upon application for share; A farther payment of 10s. per share, payable o allotment, And all subsequent calls to be made at the rate c £1 per share, at intervals of at least two month! Provisional Directoi*3 : John Hyde Harris, Esq., Deputy-Superintenden A. Chethain Strode, Esq., Resident Magistrate W. H. Cutbsn, Esq., Chief Commissioner < Crown Lands. Thomas Dick, Esq., Provincial Secretary. E. B. Cargill, Esq., Merchant. V. J. Alderson, Esq., Merchant. W. K. Reynolds, Esq.. Merchant. James Paterson, Esq., Merchant. James Jones, Esq., Merchant, John Cargill, Ehq., Merchant Henry Driver, Esq., Merchant. (With power to add to their number.) Consulting Engineer : J. T. Thompson, Esq., Chief Surveyor. Solicitor: J. A. J. MacGregor, Esq. Secretary : A. G. M'Conibe, Esq. Bankers : Bank of New Zealand. An ample supply of pure water for tfc use of tt inhabitants of Dunedin is daily becoming .a matte of urgent necessity; and as the increasing prosperit of the Otagogold fields justifies the anticipation of large and rapid increase iu the population of tli town, this necessity assumes an importance wine cannot be exaggerated. The streams of water which ran through the town and which were once sufficient and suitable for a requirements, are now no longer capable of afford ■ ing, nor is it desirable to rely upon those source for, a -supply of this essential element of healt and cleanliness. Any undertaking which shall not provide Jai-gel for the present and future wants of this rising di will, in the opinion of the promoters of this cornpan' be unworthy of support, and it is with a view to tli lulnlinent of this object that they have decided upoi availing themselves cf the best of several sources o supply which are practically inexhaustible, and ii which no engineering difficulties present themselves In order to secure the advantages of the advic and suggestions of the most practical and experiencei engineers and scientific men in the Province, th prompters have determined to offer a suitabL premium for the best devised scheme for supplying the town and suburbs with a never-failing and powe* ful supply of pure and wholesome water. Contractors of known ability and experience ar< prepared to undertake and proceed with the works a soon as practicable. It is proposed that the capital shall be £30,000 ii 6,000 shares of £5 each, with power to in rease the capital. A preliminary depo.r't of 10s per share to b( paid to the credit of the Companys account with tht Hank of New Zealand, upon application tar shares a further payment of 10s per bhare on allotment and the subsequent calls to be made at the rate of £1 per share, and at intervals of not less than twe months. The Company will be incorporated under the " Joint Stock Companies Act/' and be conducted bv a Board of Directors to be elected at the first general meeting of the shareholders in terms of said Act. The qualification for voting at such fixst general meeting- shall be the payment of £1 per share, and shareholders holding twenty-five shares shall be eligible to serve on the Board of Directors. The promoters considering that the working classes and small householders are peculiarly interested in, and will receive great and Jasting benefit from this project, anticipate that every such inhabitant of the Town will consider it his duty to at once enrol himself as a shareholder in the Company. As a medium for the investment of Capital, no reasonable doubt can be entertained of the success or remunerative character of the scheme. In England, in Scotland, and in the adjacent colonies, similar undertakings have Droved most profitable to the shareholders, and in a sanatory aud pecuuiary point of view the advantages which tbe inhabitants of Dunedin will derive from a superabundant supply of pure water cannot be estimated till actually within the reach of every individual In the single item of Insurance which ( now can only in certain circumstances be effected, and at a ruinous rate, it will benefit the owners of property bv a reduction of present rates of premium from 90s and 55s per cent to about 10s and 5s per cent. In consequence of a similar undertaking having been introduced into Ale - bourne, an extensive fire there is now almost an in possibility, while during the period that Melbourne ■was without its present ample supply of water, the loss of property by fire amounted to a much larger sum than would have constructed several water-works of immense magnitude, and if immediate steps are not taken to prevent such a calamity as an extensive fire in this thickly populated town, it may devastate more property in one night than the capital of the Company now übout to be established. In these respects it is impossible to estimate the value of the works which it is designed to construct here j but apart therefrom, and on sanatory and economical considerations, it is believed that an ample supply of pure water permeating the town is of sufficient urgency and importance to induce the Government and the public most heartily to support this undertaking. ' Application for Shares will be received at a future date, of "Whick, due notice vrill bt giTen,