Page 4 Advertisements Column 4

Thames Star, Volume VI, Issue 1783, 19 September 1874, Page 4

NEW ZEALAND INSURANCE COMPANY. Established 1859. IN consequence of the extension of the business of this ■Company, and the numerous applications which have been made by the Public to increase J;he 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 exchango 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 £4 10s each, or Fifty shillings premium, payable as foiow :— £0 10 0 per share on application. £10 0 „ on allotment. £10 0 „ on 31st May, 1876. £10 0 „ on 30th November, 1875. £10 0 „ on 31st May, 1876. £4 10 0 . ' ' 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 80th 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, 0000; Nelson, 2000; Taranaldj 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 and I 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 Re-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 £201*2000 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 arid 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, an additional issue of newshares was made in 1862, and £3,372 was then capitalised, making in all £8,227. 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 £85,000, 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 7^- per cent., that is to say if all the premiums were lost the Company would be able to declare a dividend of 7£ per cent, from the present invested accumulations; whereas, the invested funds, when the present plan f a 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 any of the Agents of the Company. By order of the Board. George P. Pieuce, Manager. Auckland, 11th September, 1874.

NOTICE , TO MERCHANTS, SHAREBROKERS MIKE'MANAGERS, ETC. TliE LATEST CONVENIENCE. ypELiaiIAFH FORMS (No. 171) bound in Books of 100 each, with Block for keeping memorandum of telegrams, Just Published at the Evekiko Stab office. Those handy little books are coming in' o general use in Auckland, and other places, oTßODgsfc nil claasofl of bueiner wen having to transmit important telegrams COVERNIVSEN LIFE ASSURANCE AND ANNUITIES. 'I HE Undersigned, having been Appointed I AGENT for the Thames District, is open to receive applications for Life Assurance Policies or for the Purchase of Annuities. / JAMES HOPCKAFT, EVENING STAR OFFICE ALBERT STREET, Gbahamsto-wn. Ct AU S, Circulars (on note or letter paper) ; in plain and fancy type. Carters' Ecceipls printed, bound and perforated, tie ETENiua Stab Office.