Page 2 Advertisements Column 3

Wanganui Chronicle, Volume 6, Issue 313, 16 October 1862, Page 2

WANGANUI AGENCY. -New Zealand Insurance Co. For Fire Marine, .& General Insurance, Capital £500,000, . , 'v With Unlimited Liability of the Share- ® holders. POLICIES effected at Current Rates, and all Claims adjusted without delay, by the Agents, without reference. For further information apply a POWELL & CO. Agents for Wanganui. .October 9, 1862. Wanganui Steam Navigation Company. Limited. To be Incorporated under the “ Joint Stock Company’s Act lSSO” Sess, 3. No. 13. Capital £l5 9 000 9 With power to increase it, if necessary, in 1500 SHARES, of £lO EACH. A Preliminary Deposit of 255. per Shaie upon the t shares applied for being allotted. A call of 355. per Share in 6 months from this date, or as soon thereafter as may be necessary. Another call of 40s. per Share, three months thereafter. The balance to be paid up by instalments of not more than 255. per Share,fnor without two months notice being given after the previous call has been paid. To be conducted by a Board of Directors to be elected by the Shareholders at the first General Meeting to be held in terms of the Joint Stock Company Act 1860. The Boai’d of Directors shall have the general management and control of the Company’s operations. PROVISIONAL DIRECTORS. Thos. Waters, esq., Chairman. T. B. Taylor, Esq. D Bell, Esq. James Reynolds, Esq. Geo. Beaver, Esq. Gerorge Turnbull, Esq. H. Ciiurton, Esq. C. W. Hylton, Esq. John Handley, Esq. Thos. McWilliam, Esq. Bankers —The Bank of New Zealand. Solicitor—Hugh Ross, Esq. Sectetary—Edward Lewis, Esq.

The object of the proposed Company is to purchase a Steam Vessel of a size and draught of water suitable for the requirements of the trade of Wanganui. It is intended that she shall be laid on as a regular trader* between Wellington and Wanganui, and shall also be employed in conveying Cattle and Goods to other ports as [the Directors may arrange. It is believed that the time has now come for such an alteration in the means of communication with other ports as this Company contemplates. The rapidly increasing trade of Wanganui, the great difficulty settlers have in conveying their cattle to a market, and the increasing demand in the more thickly popula ted parts of the country for the rural produce of this district, all point out the necessity for placing the coasting trade of this place on a more satisfactory footing. It is well known that the conveyance of Cattle and Goods by sailing vessels for short coasting voyages is uncei*taln, and in the case of perishable merchandize almost impracticable. The facilities hitherto afforded by the Wellington Steam Navigation Company, while perhaps all that could be reasonably expected, have not met the wants of the district ; and serious loss both of time and money has been occasioned by the frequent delays occasioned by the want of power of the steamers or other causes, and by the unsuitable accommodation in them for cattle and sheep. The vessel which it is proposed to purchase will be a Screw Steamer of about 296 tons burthen or 150 tons register, drawing when loaded ft , with 21 ft. beam and 140 ft. over all; built and fitted up with moveable stalls, for the accommodation of Cattle. It is believed at present that such a vessel is being built in anticipation of a proposal made being accepted : and as the order for the steamer goes home by the September mail, it is reasonable to expect she will be here in less than nine months. It may be with confidence anticipated that this Company will be able to secure a considerable addition to its income by the carriage of the mails between this and Wellington. The steamers at present bringing the mail once a month receive ,£SOO per annum for the service. The qualification for voting at the election of the first Board of Directors shall be the payment of the first call, say £3 per share. Shareholders to be allowed to vote by proxy. Any qualified Shareholder having 20 shares, shall be eligible as a member of the Board of Directors. Shareholders shall be entitled to.vote in proportion to the number of their shares, according to the scale given in the Joint Stock Companies’ Act 1860, Table B. . Shares • are reserved for settlers in Bangitikei and Turakina, coperation is particularly invited : and also a few for those Wellington residents who have business connections heie; and. as