Page 4 Advertisements Column 4

Wairarapa Daily Times, Volume XII, Issue 3814, 19 May 1891, Page 4

PROSPECTUS The (Jo-Operative & Farmers' Alliance OF NEW ZEALAND, (LIMITED). To be Incorporated under the Proyisiona of ''The Companies Act, 1882." CAPITAL. The nominal capital of the Association will be £250,000, in 50,000 Shares of £5 each, payable as follows, viz : —2s. 6d, on application. 5s on allotment, and the remainder in Calls not exceeding 5s per Share, at intervals of not less than three months. It is not expected that more than £1 per share will be necessary. NAME. The name of the Association will be " The Co-operative and Farmers' Atof New Zealand, Limited," and the REGISTERED OFFICE Of the Company will be in the City of Wellington, PROVISIONAL DIRECTORS. The PrDvisional Directors of the Association (until the first General Meeting of Shareholders shall have been held) will be WELLINGTON. City-J. C. McKerrow, George H. Luxford, Joseph Saunders; Makara—T. H, Robinson. MANAWATU, Kereru—Robert Gardner ; Palmerston North—J. 0. Batchelar, Joseph Beale, James Bell, D. Buick; Feilding—J, Johnson ; Paikakariki—Frank Smith. WAIRARAPA. Featherston - Coleman Phillips; Ptiruatanga John Martin, Junr.; Masterton —D. Carman, John Cameron ; Pahiatua Duncan Puckle, W. W. McCardle, Thomas Miller, Georpe Whitcombe. WEST COAST. Fordell—James W. Baker; Campbelltown—Henry Sanson; Waverly—George S. Bridge. With power to add to their number. SOLICITORS Mossrs. Monteath and Stavely, Lambton Quay, Wellington. PROVISIONAL SECRETARY Alexander Jardine. TEMPORARY OFFICE Is in Custom House Quay (National Mutual buildings), Wellington. SHAKEBROKERS Messrs T. Kennedy Macdonald and Co REASONS FOR THE FORMATION OF THE ASSOCIATION. 1. The successful results achieved by co-operation in other countries, and in New Zealand, notably by "The Farmers' Co-operative Association of Canterbury, Limited." 2. The obvious advantage of an agency of which the subscribing producer or consumer shall be not merely client but proprietor. These and other considerations have induced the promoters to invite subscriptions from the public in town aDd country. ADVANTAGES ofthk ASSOCIATION The Association* is projected at the instance of Farmers and Producers generally, in order to secure to them by co-operation, the benefits of interchange which have hitherto gone to the merchant and distributer alone. By cooperation in the formation of the Association the farmer, the dairyman, the fruit-grower, the saw-miller and flax-miller, the wool-grower, other producers, and the Shareholders generally, may sell their produce, and buy what they severally consume, in the most favorable markets. The profits of the Association, after payment of expenses, will belong to and be distributed amongst the Shareholders. Subscribers will thus obtain for produce the full Market value in the Markets of the World subject only to payment of expenses, and a certain fixed per centage in order to enable the Association to pay a dividend not exceeding seven per cent on capital. On the other hand they will obtain goods at wholesale prices. The Association will collect and supply to Shareholders prompt and disinterested information as to the state of and advantages offered by the various markets throughout the world. The Association will seek to ally itself with other kindred institutions, and so by sharing the coßt of Agency in Home and Foreign Markets reduce cost, while increasing efficiency to Shareholders. The profits" of the Association, after payment to Shareholders of a dividend not exceeding seven per centum upon the amount of the paid up capital, wi'l bo divided amongst the Shareholders according to the amount of business done by each or otherwise as may be from time to time by a majority of shareholders at any general meeting determined.

In alloting the shares, the Directors will have regard to prioirtj of application and not more than 100 shares will be alloted to any one person* la submitting an Association of this character to the public it is only necessary to say that it is in no sense a speculative undertaking. The experiences uf similar enterprises in the Colony have Bhown them tu be not only dividend paying, but productive of many collateral advantages to the Producer;,minimising as they do all charges, they necessarily compel merchants and ship-owning firms to lower to a reasonable point their rates of profit, commissions, freights, &c. x The fact that the .New Zealand Farmer's Association of Canterbury (Christchurch), last year had a total profit of £10,804 5s 5d to distribute, and that the Canterbury Farmers' Association (Titnaru), and other similar Associations are all in a most satisfactory financial condition, speaks for itself as to the safety of the capital to be embarked. The central position of the City of Wellington and its magnificent capacity tor the chearj distribution o£ products to all parts of the world, marks it out prominently as the natural centre for the present Company's operations, The recent connec ion of the City with Napier on the East Coast, and New Plymouth on the West 3oast, by through lines of railway, will enable the settlers in these districts to share equally in the advantages, which will accrue to shareholders in the Wellington Provincial District from having at their door the best and cheapest Harbor in the Colony as a distributing centre. T±JE OBJECTS For which the Association will be established and powers deemed necessary for its successful working are : (I.) To carry on thebutineßsof a Cooperative Association in all its branches, (2.) To buy and sell goods, stores, consumable articles, chattels, and effects of all kinds, (3.) To conduct the sales of the Association upon a cash basis. (4.) To offer facilities to Farmers for the shipment of their produce to the various markets of the world, and appoint Agents in the different localities for the furtherance of this object. (5.) To purcnase, take on lease, or in exchange, hire, or otherwise acquire any real and personal property, and any 'riphts, patents or privileges necessary or convenient for the purpose of the Association, and Warehouses for the storage of grain and produce of any kind, and any land, buildirgs, easements, railway sidings, machinery, plapt, and Bfock in trade. (6.) To construct, maintain, and alter any buildings, machinery, engines, plant, and works that may be deemed by the Directors necessary, convenient, or fit for the purposes of the Association, or calculated directly or indirectly to advance the interests of the Association or the members thereof. (7.) To borrow or raise money by the issue of or upon bonds, debentures, bills of exchange, promissory nates, or other obligations or securities of the Association, or by mortgage or yharge of. all or any part of the property of the Association, or of its uncalled capital, or in such manner as the Directors of the Association may think fit, (8). To make, accept, endorse, and execute Promissory notes, bills of exchange, and other negotiable instruments. (9.) To purchase or otherwise acquire and undertake all or any part of the business, property and liabilities of, and *