Page 3 Advertisements Column 2

Thames Star, Volume VI, Issue 1780, 16 September 1874, Page 3

!'. : ..V..'" ". v>^"X'6rp.";\""■ '" '■■■■"] COUET PEIDE OF PAENELL, 4409. mHE QUARTERLY $S33BScßr -*• MEETING- of the w^fW^^^^i Court will bo held in |m^mS^»j[ tho Masonic Hnll, QueenI aMiit'Wsft92 9tr<>et, Grahamstown, on y^pP^M' THURSDAY EVENING, Sep* ember 17, at 7.30 o'clock p.m. Business —To consider Anniversary. Chas. Ahieb, r Secretary TUESDAY, 22nd SEPTEMBER, At 12 o'clock. VALUABLE CRUSHING PLANT, ENGINE, BOILER, &c. TAMES CRAIG lias been favored with instructions from the Directors of the Shotover No. 1 Goldpining Company to sell by Public Auction, at the Company's Mine, Kuranui Creek, Grahamstown, on above date, all their Valuable Plant, consisting of — 12-STAMPER BATTERY, complete 1 Pair Horizontal Engines, 16 h.p. nominal 1 Cornish Boiler 15-6 x 4-3 400 feet 8-inch Piping, with door piece?) plunger pole and barrel, stuffing, box, &c. 1 Large Avery'a Weighing Machine 1 „ Set Gold Scales Battery and Engine House, and a quantity of material aa per inventory to be seen at the office of the Auctioneer, Albert-street. ■ Ternw Cash. £7502 NEW ZEALAND INSURANCE COMPANY. ESTABUSHED 1859. . IN consequerice of the extension of the business of this Company, and the numerous applications which have been made by the Public to increase the Capital and to -widen its operations by the' issue of new Shares, and thereby increase the number of shareholders, an Extraordinary Meeting of Shareholders was held on the 9th instant, when the Company resolved to increase the Capital to One Million Pounds, by the creation of 100,000 shares of £10 each. Of these Shares it has been determined to offer 50,000 to the public, the remaining 50,000 shares to be allotted to the present shareholders in exchange for their interest in the Company. The present Proprietors thus offer one-half of the Company's interest for sale. * The Shares now offered to the public are of £10 each, of which £2 is to be paid up ; they will be sold at £i 10s each, or Fifty shillings premium, payable as follows:— £0 10 0 per share on application. £10 0 „ on allotment. £10 0 „ on 31st May, 1875. £10 0 „ on 30th November, 1575. £10 0 „ on 31st May, 1876. £4 30 0 1 One half of the sums to be paid from time to time ■will be credited to Capital, excepting the last payment, when 5s will go to the Capital, thus making the complete payment to Capital Account of £2 per share. Any sums received on account of Capital before the SOth November next will be credited with interest at the rate of 10 per cent, per annum from the date of allotment to that date, and from that date they will carry full dividend rate, and participate in all the future advantages accruing in proportion to the amount of capital paid. Any Shareholder may prepay his.instalments, and thereupon his prepayments, after 30th November next, will carry full dividend rate from date of payment. In case of default being made in payment of any instalment, the Directors to have full power to forfeit any shares in respect of which such default is made, and 'to sell or otherwise dispose of them, as they think fit. To ensure a general distribution, the 50,000 shares now offered will be divided as follows :—Auckland, 15,000 ; Dunedin, 10,000 ; Christchurch, 7000; Wellington, 6000; Nelson, 2000 ; Taranaki, 1000; Napier, 2000 ; Westland, 1000; Wanganui, 1000; reserved for the Australian Colonies, 5000; and the Directors reserve the right not to allot to any of the places named any greater number than that allowed to each place. •■ . ■ The applications for Shares will be considered aud allotted in order of date of application. The Directors do not bind themselves to allot any Shares to any person they may consider not eligible as a Shareholder, and they may return the application money to such applicant. The present Proprietors will thus receive 50,000 Shares of £2 each, represented by the present paid-up Capital of the Company; the present Be-Insu-rance Fund of £40,000 will belong to the New Account, to begin from 30th November next, in which the new Shareholders will participate in proportion to the Capital paid up. The new Shareholders' payments of £2 per Share of Capital will make the Paid-up Capital £200,000; the Company will then stand with a Subscribed Capital of £1,000,000, with £200,000 paid-up, and a Re-Insurance Fund of £40,000. The Premium on the new shares, and all the funds and property of the Company as it now exists, over and above.the present paid-up Capital of £100,000 and the £40,000 Re-Insurance Fund, will belong to and be divisible among the old Shareholders. The steady progress which this Company has made is well known. The original amount paid by the first Shareholders was £4,845, au additional issue of new shares was made in 1862, and £3,372 was then capitalised, making-in all £5,227. The Capital now stands at £100,000, it .having grown to this amount from time to time out of profits. In addition to this, and out of profits also, a Re-Insurance Fund of £40,000, and a Reserve Fund of £35,000, have been added to the Company's assets. And, during the whole period of the Company's existence, the Shareholders have received dividends at the rate of 10 per cent, per annum, and the amount paid in dividends has been £72,171. Losses amounting to nearly half a million have ; occurred since the commencement of business, and have invariably been promptly met. The amount of accumulated funds belonging to the Company, and invested, now stands at £214,000. The investments consist of Real Property, Mortgages, Bank, Loan Company, Gas, and other Shares, City Debentures, &c. The interest accruing from these investments would pay on the proposed increased Capital of £200,000, a rate of interest to the Shareholders equal to 7i per cent., that is to say if all the premiums were lost the Company would be able to declare a dividend of 7J per cent, from the present invested accumulations; whereas, the. invested funds, when the.present plan is carried out, will begin with £240,000. ; Applications, accompanied by the payment of 10s. on each share applied for, must be made on the annexed form, and forwarded to the Agents of the Company, or to the Manager of the Head Office, Auckland, on or before the 10th day of October, 1874. Prospectuses and Forms of Application can be obtained at the Company's Office, Auckland, or from aiiy of the Agents of the Company. \ By orderof the Board. , .. • George P. Pierce, ■': ■: ■ Manager. Auckland, 11th September, 1874. \TT AN TED—A: SERVANT—AppIy Mrs. \f Aikbn, Parawai. te7486 WANTED to BUY, a Second-hand BILLIARD TAB&E.—Address B. T. W., office of this paper. a 7503 FOR SALE—TWO HORSES, Staunch in Light and Heavy Harness. —Apply ; Alex. Philiips, Short-land. b7492