Page 1 Advertisements Column 1

Poverty Bay Standard, Volume IX, Issue 958, 9 July 1881, Page 1 (Supplement)

A bridged PROSPECTUS OF THE -kA. EAST COAST NATIVE LAND AND SETTLEMENT COMPANY (Limited.) Capital, £500,000, in 100,000 shares of £5 each ; whereof 70,000 will be allotted to the Aboriginal Native Contributors of Land called “ Original Shares," and 30,000 to European subscribers of capital, and called “ Capitalist Shares." Kist issue of Capitalist Shares 20,000, payWole as follows 5s on application, 5s on allotment; subsequent calls, if they are required, not to exceed 5s each, nor to be made at intervals of less than three months. Provisional Dibkctors. H. Graves Aickin, Esq., Auckland John Barraclough, Esq., Oamaru Horace Bastings, Esq., M.H.R., Dunedin F. H. D. Bell, Esq., Wellington Wm. Buchanan, Esq., Auckland John Buchanan, Esq., Napier C. A. De Lautour, Esq., M.H.R., Gisborne G. Fenwick, Esq., Dunedin Allan Macdonald, Esq., M.H.R., Gisborne H. Mackenzie, Esq., Auckland "*F. J. Moss, Esq., M.H.R., Auckland Hon. H. R. Russell, M.L.C., Hawke’s Bay Hon. W. H. Reynolds, M.L.C., Dunedin Wiremu Pere, Native Chief, Gisborne Henare Potae, Native Chief, Tokomaru Bay J. B. Poynter, Esq., Gisborne D. Proudfoot, Esq., Dunedin Montagu Pym, Esq., Dunedin G. M. Reed, Esq., Gisborne W. L. Rees, Esq., Gisborne R. H. J. Reeves, Esq., M.H.R., Nelson B. C. Reid, Esq., M.H.R., Hokitika H. C. Robjohn, Esq., Napier Major Ropata, Native Chief, Tokomaru Bay J. M. Shera, Esq., Auckland B. Stout, Esq., Dunedin T. S. M. Thompson, Esq., Wellington W. H. Tucker, Esq., J.P., Gisborne B. Wilson, Esq., Dunedin Solicitors : Wellington—Messrs Sievwright & Stout. Gisborne—W. L. Rees. Bankers : The Colonial Bank of New Zealand. Brokbbs and Agents : Dunedin—J. B. Bradshaw Wellington—Lidbetter & Cooper. Auckland —A. Saunders Oamaru—Joseph Booth. Greymouth—G. M. Moss Hokitika—Messrs. Wade & Spence Ohristchurch—T. B. Craig Napier—M. R. Miller Hon. Secretary : F. J. Moss, MJIJt., Wellington.

The following is an epitome of the objects of the Company as detailed in the Prospectus, which may be obtained from the Brokers and at the various Branches of the Colonial Bank :■ — The object of the Company is the Voluntary Association of the owners of Native Lands with European Capitalists, for the purpose of promoting settlement on the lands on the East Coast of the North Island of New Zealand. This is intended to be attained by the Native Owners contributing blocks of land at original or unimproved values, receiving paidup shares in the Company for the same ; the European Shareholders contributing capital to be called up in fixed and limited amounts as may be found requisite for conducting the operations of the Company. It is intended that the cash capital raised shall be employed in defraying expenses of management, completing titles, effecting surveys and subdivision into farm and township lots, opening means of access, conducting the sale and leasing of lands, promoting the formation of Special Settlement parties from England and elsewhere, making advances to settlers on security, and generally in utilising the lands and property vested in the Company to the best advantage. The Company is at present registered under the Joint Stock Companies Act, with a nominal capital of £25,000, by the promoters, -who finding it necessary to increase their operations, transfer their interests to the extended proprietary, retaining 1000 paid-up Capitalist and 1000 paid-up Original Shares in the Company. The Government having abandoned the purchase of Native lands, the Native owners in the Poverty Bay and East Coast districts being strongly desirous of opening their lands for settlement, in a manner mutually beneficial to jthemselves and such Europeans as may be desirous of becoming associated with them on the principles proposed in the Prospectus, have, after making provision for their own requirements, entered into contracts for passing over large areas of valuable land to the Company, at prices based on those of former Government purchases, receiving shares in payment for the same. It is anticipated that the Company will be able to dispose of its lands to great advantage, as under its control, and with its guarantee, title will be absolutely good, while all lands purchased will be at once placed under the Land Transfer Act, and will be sold from time to time for cash, or on long deferred payments, and generally in accordance with the regulations guiding the disposal of the Waste Lands of the Crown. The Capitalist Shares will be preferential, having secured to them a minimum of eight per cent, per annum as a first charge on the profits, with a further division of profits in proportion to the capital invested. Five Directors will be elected by the Capitalist Shareholders, and four by the Original Shareholders, the qualification of a Director being the possession of not less than fifty >a'nares. * The Capitalist Shareholders will, under regulations, be entitled to purchase Lands of the Company for their own Lona fide occupation surrendering their shares in payment, which shall be accepted as valhe for ten per cent, over the amounts paid up- The Native Shareholders will tflso'be Entitled, under regulation, to select'Preserves for their own occu-