Page 3 Advertisements Column 2

Thames Star, Volume XVII, Issue 5183, 27 August 1885, Page 3

Compan es The New Zealand Co-operative Land and Labour Company (Limited-) REGISTERED UNDER the JOINT STOCK COMPANIES ACT. CAPITAL, £20,000, in 20,000 SHARES of £1 EACH. Bankers : The Bank of New Zealand. Executive Committee: Mr Waddell (Mayor Mr Mays of Auckland) Mr Graham (Mayor of Mr Cooper Hamilton) Rev.W. Tebbs Mr Reea Mr Goldie Mr Outhwaite Hon. W. Swanson Mr Mumford Mr Garrett Mr Dnnningham Mr .Jnry Major Green Mr Jeune Mr Thorne Mr Grant Mr Peacocke Mr, Wright T)ROSPECTUS. This Company is founded— To make producers, capitalists, and consumers partners under the Joint Stock syßtem in the property and wealth produced, whether that property and wealth consist in the produce of the soil and manufacture on the one hand, or on the other of land and the instruments of manufacture and production. The persons who invest money and provide for the purposes of the Company, will receive interest upon their money and a share in the profits arising from the Company's transactions, both in money and value. The workers of whatever class employed, directly or indirectly, by the Company will be entitled, besides their wages, to a share in the profits of the Company; as above. And the purchaser and consumers will also be entitled, besides the goods so purchased by them, to a share in the same way, of the Company's profits. It is deemed wiser to issue all shares fully paid up, because the making of and suing for calls often occasions annoyance and inconvenience to shareholders ; while the forfeiture of shares consequent upou non-payment of [ calls, takes away the capital already invested by the shareholders, without any remuneration. But the Directors will receive deposits from intending shareholders, in sums of two shillings and sixpence and upwards, as may suit the convenience of all depositors, and such sums when amounting to one pound will entitle the depositor to become a shareholder and receive a share. Every applicant for shares will thus upon the deposit of two shillings and sixpence per share, be entitled to have such shares held for him till the first day of March, 1886, at or before which time, if he intends to retain such shareß, he must complete the full payment of one pound per share. If he do not so complete the payment for all, then he will receive as many shares as his deposit fully "covers, and the balance will be thrown open for other persons. Whatever the amount of the deposit, the depositor will be entitled to receive either shares or goods from the Company's Stores to the value of his deposit, aud all shareholders will be entitled to purchase on the credit of his shares to the amount of seventyfive per cent, in value. All shares first issued or taken up to the amount of £5,000 will bear a preferential dividend. Thus the first £5,000 will bear a preferential dividend of £1 per cent, over the second, £2 per cent, over the third, and so on. The second issue of 5,000 shares will bear a preferential dividend of £1 per cent, over the third, and bo on. After the issue of 20,000 shares'* each issue up to 60,000 will consist of 10,000j and thence to one hundred thousand of twenty thousand each. After one hundred thousand have been issued, the preferential dividend will be one-half per cent., and the issnei» will be fifty thousand until altered by the Central Board of Directors. Shareholders purchasing share* will be entitled, besides their share of the profits, to interest at the rate of £10 per cent, per annum upon the amount of shares paid for. by them. This, however, will only hold good on the first 20,000 shares issued, after which and up to £50,000, 7i per cent, interest will be allowed. From £50,000 up to £100,000, 5 per cent., and above that as may be decided by a general meeting of shareholders. It is intended to form districts in all centres of population in the Colony, in which local Boards of Directors will be elected by local shareholders to conduct and manage local business of all descriptions. .. In all communities there are two sources of profits. One ariseg from cash profits of the year—the other arises from improvements, such as buildings, fences, plantations, stocks-in-trade, waste lands reclaimed, increase of flocks and herds, &c, and from the unearned increment of land. Both these would be divided amongst paying shareholders, workmen, and customers, in exact proportion to the money, work, and purchases respectively, of the different individuals. The yearly caßh profits will be divided in cash as dividends. The increased value will be divided every three years in shares, which will bear dividends, but which cannot be sold or parted with for ten years from date of issue. A reserve fund, however, of ten per cent, will be kept for various purposes. Besides the large interest, of ten per cent, per annum, the first issue of shai'es will be entitled to preference dividends over shares taken up afterwards. Thus eveiy increase to the Company's capital and property will make the first shares more valuable. This Company offers greater advantages than any other Co-operative Society, or Savings' Bank, or Joint-Stock Company. Co-operative Societies are generally formed under the Friendly Societies' Acts. In those Societies, therefore, although the depositors are entitled to interest, and are enabled to give a bonus to all purchasers, yet the profits cannot be distributed, because there are no shareholders. At this time the Co-Operative Societies in England have immense sums of surplus profits, which they cannot divide, nor profitably use. So in Savings' Banks: the depositors receive five per cent, interest; but great profitßare made beyond interest, which belong to nobody. The Auckland Savings' Bank haß made great profits out of the money of the people, and yet the Depositors cannot touch those profits. In the Government Post Office Savings' Bank the Depositors are in exactly the same position. Nor are the monies so deposited invested for the employment or personal benefit of the Depositors. Ordinary Joint-Stock Companies are monopolies, pure and simple; and the profits made out of the labour of the workman by the assista^ of the purchaser, all go to the capitalist. This Company joins the best principles of all the three other institutions—and adds to them many advantages which no other plan haß'ever presented. This Company accomplishes the object for which all Trade and Labour and Aid and Friendly Societies are established, infinitely better than the organisations now existing. Trades and Labour Unions are formed to Bupport men on strike, and for purposes of mutual defence. When strikes occur, great sums of money are spent, and trade is injured. This Company, with the workmen s money, will give employment to all out of work; and instead of keeping men in idleness, will keep them in profitable employment, and render labour the partner of capital. Throw* this Company tlie labourer will