THE OTAGO AND SOUTHLAND INVESTMENT COMPANY.

Southland Times, Volume I, Issue 20, 16 July 1864, Page 4

THE OTAGO AND SOUTHLAND INVESTMENT COMPANY.

The following is the prospectus of ..the above" Company, the capital of which is set down at; y £500,000, in 50,000 shares of £10 >achj first ;< issuo 25,000 shares, of which 10,000 have already been subscribed for by shareholders^ in the Bank of ,;: Otago, Limited, and 5000 are reserved for Now '' Zealand. It is not proposed to call up more'thaiv t " £5 per share ; calls not to exceed 10s. per share, and. »,. not more frequently than after three months? inter- .-I val. A preference will be given to shareholders ih. tke Bank of Otago, limited. ."':"' ,; " Tliis company has toeen estivbHsiiea to nia. its ; ; progress of the thriving and important Province's" of New Zealand, especially those of Otago and Southland, by the introduction of capital for invest-, ment in land and other property. .. ' "The company's operations will embrace tho following objects, viz. :—' - "Ist. — Receiving money in. this country on deposit or debenture, and investing same in New ' Zealand, at increased rates of interest. " 2nd. — Malting advances upon mortgage of real estate, and on G-overnment and other securities.' " 3rd. — Acting as agents for Local Governments . and landed proprietors, purchasing, selling, and managing property upon commission, and transacting any other agency business. " Similar associations have met with remarkable success in Canada, Australia, and other British Colonies. The tenth report of the Canada Agency Association, issued in August last, shows the sum of £257,000 secured on real estate, bringing a' good return to the investors, while . the shareholders of the association receive a dividend of-.., 20 per cent., besides bonuses. •"•.-:' : " The head office will be in London, and the . chief colonial office in Dunedin, with branches' or ■■•; agencies in such parts of New Zealand as the ■•: directors may from time to time determine..---"It is not proposed that more than £5 .per,.,share shall be called up, as the capital-.. 0f the association is intended more as a guarantee -to ; persons who may advance money for investment, than for guaranteeing permanent loans. . ■■< •>■•■- --" The whole of the preliminary expenses up_ to the allotment of shares, including the registration . and incorporation of the company} brokerage, advertisements, law charges, &c, are guaranteed not to exceed one-quarter per cent, atpon the nominal capital of the company. _ ; "A copy of the articles of association can be inspected at the offices of the company;. ■ ::.-.; ■; " Application for shares must be made in the form annexed to the prospectus, accompanied' by; ' the deposit of 10s. per share. - •?■ . ; ■ " Forms of application can be had at the Bank of Otago (limited), and branches ; or of any of : the committee." - * :