Page 4 Advertisements Column 3

Colonist, Volume IV, Issue 407, 17 September 1861, Page 4

EW ZEALAND INSURANCE COMPANY. FOR FIBS AND XttARZKS INSURANCE. Head Offices: Fbaser's Buildings, corner of Queen-street and Shortland-street, Auckland. Capital, £1.00,000, With unlimited liability of the Shareholders. Directors: Chairman—THO9. HENDERSON. Deputy-Chairman-S. BROWNING. ALFRED BUCKLAND, JOHN GRAHAM, WILLIAM T. BUCKLAND, GEORGE BURGOYNEOWEN JOHN HENRY BURNSIDE, THOMAS RUSSKLL, HUGH COOLAHAN, C. J. STONE, WILLIAM C. DALDY, WILLIAM C. WILBON. Fz-Directors. DAVID GRAHAM, I JAMES WILLIAMSON, JOHN S. OLIVER; I WALTER KNOTT GRAHAM Auditors : THOMAS COWTON LAW, I RICHARD RIDINGS. Marine Surveyor: WILLIAM CRUSH DALDY. This Company is now prepared to grant Policies and effect Insurance from loss or damage by fire upon Houses and other Buildings, Goods, Wares, Merchandise, and Manufactures, and Farming Stock of every description. . The Company will also take Marine Risks, both in Coasting and Foreign Trade. The Directors respectfully request public support for this Local Institution. The rates charged are the same as those charged by other Companies. Whilst Insurers have the security of a capital more than equal to any contingency which may arise, together with the unlimited liability of a large body of wealthy shareholders, the profits of this company are retained in the colony. Tables of Rates, Printed Forms of Proposals, and all other information may be obtained at the office of the undersigned. CURTIS BROTHERS, 992 Agents ' o JHE BANK OP NEW ZEALAND. To be incorporated by an Act of the Oeneral Assembly, or by Charter limiting the liability of Shareholders. Capital, £500,000, in Shares of CIO eacb. Paid-up Capital, £250,000. PRELIMINARY DEPOSIT 2s. 6d. PER SHARE. A payment of 17s. 6d. per share on signing the deed of settlement; a further payment of 20s. per share three months after signing the deed of settlement ; the balance of 60s. per share, making the total 60 per cent, if required, in calls at intervals of not less than three months thereafter, and on v notice. To be conducted by a Board of Directors—say seven in number—who shall elect from among themselves two Directors, to advise with the Local Manager, as required. The Board to have a general control of the Bank's operations. PROVISIONAL TRUSTEES. Auckland: J. Logan Campbell, T. Henderson, J. O'Nbimi, T. Russell, Jambs Williamson, Esqrs. Wellington : A. D. Brandon, W. B. Rhodes, Esqrs. Nelson: H. E. Curtis, Esq., Hon.E. W. Stafford. , Canterbury: Hon. tf. A. Wbld, J. Cracroft Wilson, Esq. . : Otago: E. McGlashan, J. Jonks, Esqrs. Bawke's Bay: J. Watt, Esq. to Wanganui: Marlboromjh: W. H. Eyes, J. Sinclair, Esqra. Taranaki: Southland : It is manifest to those who have directed attention to the subject, that the Banking establishments in New Zealand have derived immense profits which are payable entirely to a foreign proprietary, from a trade CARRIED ON WITH THE FUNDS OF THB COLONISTS ; a circumstance which must lead to the consideration whether the Colonists of New Zealand are' Wot now in a position to enjoy, and entitled toreceive, whatever advantages can be derived from the employment of their own capital. Another consideration which should unite the Colonists of New Zealand in"an effort to establish a New Zealand Bank, is this, no Foreign Bank will study the interests of New Zealand; but the interests of such an establishment are regarded as paramount; the New Zealand branches being of necessity made to feel the effects (if financial pressure in other colonies, and accommodation is given^br refused, frequently, not according to the requirements of the Bank's customers in New Zealand, but measured by the Bank's engagemients and necessities elsewhere. A New Zealand institution would not be disturbed by these influences : ts capital would be specially devoted to new Zealand interests. A reference to the Bank returns, published periodically in the Government Gazettes of the colony, will show the very large profits made from the Deposits of the Colonists. What foreign Banks have for many years done for us with our own funds, we now propose to do for ourselves by local effort and management. It is, therefore, proposed to establish on a broad aud permanent basis a Banking Institution capable of doing the present Banking business of New Zealand, and snsceptible of expansion with a view to meet the requirements of that prosperous future which it is believed will certainly and shortly be realised for New Zealand. To accomplish this desirable result—to secure the bulk of the deposits now held by foreign Banks— and to give to the public an institution worthy of. confidence—it is proposed that the capital shall be 50,000 shares of £10 each. This amount it is conceived will be more than ample to secure the confidence of the public, and of any foreign Banks with whom it may be desirable or necessary to have trans* actions. ; . ■..:.. One-half of the subscribed capital to be called up as follows:— 2s. 6d. per share on application. 17s. 6d. per share on signing the Deed of Settlement. 20s. per share 3 months thereafter, and the remaining 60s. per share by calls at intervals of not less than three months, and of which three months' notice shall be given. In no case the call to exceed £1 per j share. No further calls to be made without the con- j sent of three fourths of the proprietors present at a meeting specially convened for that purpose. I The shares have been fixed at the moderate sum of j agio, with a view of enabling all classes of the com- ' umnity to identify themselves with the monetary interests of the country. Branches of the '• Bank of New Zealand " will be established in every town of importance in the Co- i lony. Each Branch to be managed by a Local Manager appointed by the General Boaid, and; two Directors, chosen by the resident local proprietary, when the local proprietary represent a capital, of £40,000 in the Bank, until which time aucti'Directors to be appointed by the General Board. '' In London there will be a Board of Direction and Secretary ; and it is anticipated that a sufficient number of influential Colonists, shareholders in the Bank will always be found resident in London to form such | Board. Arrangement with some desirable English Bank will be made for effecting Exchange. The " dank of New Zealand '■ will make advances upon Bills of Lading, Bonding Warrants, and other I legitimate securities. It will be the object of this Bank to render all possible accommodation and facilities consistent with its proper functions to the merchant, settler, storekeeper and farmer. The Balance Sheet of the Bank will be made up every half-year, say on the 30th June and 31st December, and forwarded to each proprietor, together with the Directors' Report, prior to the half-yearly meetings, at which the Dividend will be declared. Trustees to be named provisionally to appoint the necessary officers— to cause the Prospectus to be published and circulated—to receive applications for shares—to allot shares—to open Banking accounts to receive and apply the deposit of 2s. 6d. per share in payment of preliminary expenses—to prepare the Deed of Settlement for execution of subscribers to receive the further sum of 17s. 6d. par share, payable on signing the Deed of Settlement, and to convene a meeting of qualified subscribers after one-half of the ares shall have been allotted, for the purpose of enabling such subscribers to elect the first Board of Directors, of which meeting due notice is to be given in one ormore local papers. After the election of the Board of Directors, and transfer of Balance of Account to them, ! the duties of the Trustees shall ceaie,