Page 2 Advertisements Column 3

Gisborne Times, Volume XXVI, Issue 2272, 18 August 1908, Page 2

PROSPECTUS OF THE GISBORNE CO-OPERATIVE BAKERV COMPANY, LIMITED. A COMPANY INTENDED TO TIE INCORPORATED UNDER, “THE COMPANIES ACT, 1903.” PROPOSED DIRECTORS: A. P. HAILEY, Baker, Gisborne. HERBERT NY. \YI BETA MS, Clorfc in Holy Orders, Gisborne. 11. E. Illld,, Band Agent, Gisborne. •I. HAROLD KANE. Chemist, Gisborne. (!. PA LAI.RET, Settler, Gisborno. L. R EDWARD, Clerk, Gisborne. J. A. AICKIN, Accountant, Gisborno. BANKERS: THE BANK OF AUSTRALASIA, at Gisborno. SOLICITORS: REES BROTHERS & BRIGHT, of Gisborne. AUDITOR-: ANDREW GRAHAM, of Gisborno, Accountant. SECRETARY AND BROKER: CHRISTOPHER- GISBORNE PIESSE, of Gisborno, Accountant.

OBJECTS. stituted by tlio bakers of Gisborne, riM , ■ , , i .1,- n„„, .and this mothod will bo adhered to by '1 he objects and poneis o t oCo - Diroctol , s K 0 Ion „ a , s tllo ]oca | P-an.v >»'o.sot out an the Memo uu u ukers take ft p ko printcTat‘ the end hei-eof and forms Min Hailey lias undertaken,, should ‘".lp y," the Company require his services, to °r< ,L-’'l'..ill,. A of the act ® s manager for the Company for llie Company 1 . 12 months, and has also entered into “Companies Act, 11KM, except as „„7 „ r!+ll + v„ „„ +„ added to and modified by the General a covenant with the Company not to Articles of Association, a copy of enter into competition with the Comwliicli is also printed at the end here- cither on Ins own behalf or as of and forms ‘part of this l>ros„o«„s. TSII, ™£c" , . ,CA.L U AC. AVith a capablo manager, an up-to-Tho capital ol the Company is ( ] a te plant, and no fear of bad debts, £SOOO, divided into 0000 Shares of £1 the Directors aro confident that the each. ~ , , business can bo made a highly success--01 the above-mentioned shares 2ol) f u l one. are to be issued and credited as paid- jt will bo their aim to extend the up in lull in part consideration ot tlio benofits of co-operation to all branches sale to the Company, particulars of t-Jio comnnvnity, and if tlio public winch are hereinutter more partieu- ass j sk by subscribing for shares and lari - set out, 2000 shares are reserv- supporting tlio Company, tlio Directed lor subsequent issue for extension ors f eo ] confident that they can by ol business, and the remainder, -100 way 0 f dividends and bonuses inaterisluiros, are ollered to the public for a l]y lesson to shareholders the cost of Subscription, payable as follows: the “staff of lifo.” iwo shillings per share on applioa- To comply with the Provisions of Lloll - .. . . .. “The Companies Act, 1903,” the follliree per share oil allot- lowing matters are set out:— And the remaining fifteen shillings A <?f the Memorandum of per share shall be payable in calls Association with the names adof not more than five shillings per dresses, and descriptions of the share at intervals of not less than signatories and tile number of one month. • shares subscribed for by them Tirrminaea - respectively is printed at the .1 L ivl Übl.b. end hereof, and forms part of I lie Company is being formed lor the prospectus, die primary purpose of acquiring tlio (b) The number of shares fixed by Bakery Business now carried on by the Articles of Association a® the vendor. Arthur Percy Hailey, 111 tlio qualification of a Director Gladstone Poad, Gisborne, and of car- j s ten. Tlio Directors may aprying on, consolidating, and extend- point a Managing Director, ing the trade or business, and of ear- and fix his remuneration rying out the objects mentioned m tlio ( c ) Tlio names, addresses, and desMeinorandum of Association. criptions of tlio proposed Dillio 1 rustee lor and on behalf of rectors are sot out at the blithe Company has contracted with the ginning of this Prospectus. . said Arthur Percy Hailey (hereinafter (d) The minimum subscription on sometimes called “the Vendor”) to which the Directors may propurchaso tlio business as a going eon- C eed to allotment is fixed at ceni. but not, including book or other 1000 shares. Tlio amount paydebts. the prices fixed for such pur- ablo on aimlication and nllotchase are as follows: niont are hereinbefore set out. (a) The sum of £350 for tlio good- (c) It has been agreed to issue 50 will of tlio said business and fully-paid up shares and 750 leaso of the premises. debentures, which are the sliar(b) The value determinable by valu- es and debentures hereinbefore ation in the ordinary way of referred to and agreed to be the buildings, stock-in-trade, taken by tlio Vendor in part plant, fittings, machinery, fur- consideration of tlio purenase niture, goods, chattels, and ef- moneys. fects of the said business in, (f) The Company proposes to purupon, or about the premises or chases tile lease and business as used by the Vendor in the said a going concern of Arthur Pertrade or business. cy Hauey, and to pay for the The Vendor will accept payment of same partly out of the proceeds the purchase money aforesaid as fol- °f the issue offered for subscriplows:— tion by this Prospectus. The (a) £250 or 250 fully paid-up shares amounts payable in cash, shares in the capital of the Company. and debentures to the Vendor (b) £750 by debentures repayable in aro hereinbefore set out. three years, arid carrying in- (s) The amount payable as purchase terest at the rate of £5 per money in cash, shares, and decent per annum. - „ ben tares for such property as (c) . Tlio balance may at the option aforesaid, including 'goodwill, ■' of the Company be paid in has been hereinbefore set out. cash, or the Company may take (h) The Company has agreed to pay over the liabilities of the Veil- a commission at the rate of £0 dor, and the balance after al- l ,cr cent to the broker on all lowing for liabilities as afore- . shares subscribed for. said, shall be paid to the Veil- (*) The preliminary expenses of and dor in cash. incidental to tlio formation and _ establishment of the Company -UUkjJ.iVtM3b. and xti]fit the Company shall be It will no doubt interest intending entitled to commence business Shareholders to ascertain as nearly are estimated to amount to as possible tlio present position of the £75, and will bo borne by the business xiroposed to be acquired. Company. Four and a half years ago Mr. (j) The Vendor will pay Mr C. G. Hailey, with little or no capital of Piesso for his services in the his own, commenced business in this promotion of the Company the town. He commenced in a small way, sum of 50 guineas, and for the first year had no shop in 00 Tlio contract for sale to the connection with his bakehouse. Three Company of the property of the and a half years ago he acquired from said Arthur Percy Hailey and Mrs. Byrne a lease of a quarter-acre the stock-in-trade, plant, , inasection in Gladstone Hoad at a rental chinery and other assets (exceptof £52 per annum. He has sublet ing book debts) before enumorfor the remainder of the term a por- ated is dated tlio 13th day of tion of the section with buildings August, 1908, and is made be--011 such portion at a rental of £SB tween the said Arthur Percy 10s per annum. It will therefore be Hailey of the one part and seen that the lease of the balance has Harold Ernest Bright us Trusa very real value, and the price fixed tee for and 011 behalf of the for the goodwill cannot be considered Company of the other part, excessive. Such contract and copies of the

Since entering into possession, Mr. Memorandum and Articles of Hailey has erected on a portion of Association of the Company the land retained by him a substan- anc j °f the Lease, Sub-Lease, tial brick building of the approxi- and Agreement referred to in mate value of £SOO. Ho has installed this Prospectus can bo inspect-up-to-date bread and eakc-ma'king ed at the offices of the Coinmachinery, and generally has acquired pany’s Solicitors, Messrs Rees a thoroughly efficient plant. The Di- Brothers and Bright, Lowe rectors would call special attention to Street, Gisborne, during busitlie machinery which lias been instal- ness hours led by Mr. Hailey. This is of the ( J ) The names and addresses of the latest pattern, and gives the business auditors are set out at the com-' proposed to bo acquired advantages niencemeut of this Prospectus, not enjoyed by any other businesses (m) Mr. Arthur Percy Hailev, Dim Gisborne. rector, is interested in, the proA balance recently taken out by a motion of and in the property competent accountant shows that of- proposed to be acquired to the ter drawing a good income tile Veil- extent only of bis interest as dor’s assets exceed his liabilities by endor under tlie contract,parapproximately £I7OO. This balance- Honiara of which arc hereinbefore sheet the Directors believe to be cor- given, and none of the other rcct, and will submit same to share- Directors have any interest holders with fullest confidence, but therein. owing to the fact that Mr. Hailey has 00) This Prospectus is dated tho not kept his books on approved lines 13th day oi August, 1908, and they can give no guarantee to the ,)a signuil by the persons named shareholders as to the accuracy of the therein as Provisional Directstatement. AV’hon it is remembered ors._ It lias been filed with the that_the greater part of the time the ' Registrar of Joint Stock CornVendor was running his business on pannes. , a credit basis, and that £3OO or there- Application lor shares should be abouts lias been allowed or written off n '. e upon tho form accompanying for bad and doubtful debts, tho posi- tllls Prospectus, and sent to the Section must lie considered a highly sat- votary of the Company, together with isfactory one. Mr. Hailey’s cash talc- “ ,0 amount payable on application, mgs average from £2OO to £3OO a Jio allotment is made, the deposit month, so that some idea can bo form- be returned in lull, and if the ed of the excellent connection which number of shares allotted on any <aplie has worked up. plication is less than tho number ap’file lease of the Vendor’s premises Pjied for tlie balance of the <applicanins out in September, 1911, but this Lon money will bo applied in reducfact should cause no concern, as the Lon of the allottee’s future liability Vendor has by a subsidiary agreement 0,1 Lie shares allotted, obtained from the Lessor an under- Dated the 13th day of August,l9oß. tO . P<}y Lhq value less the sum SIGNATURES OF PROPOSED of £lO of the brick building erected DIRECTORS, by the Vendor, and also has obtained \ -p TT •> , i r< • i b.v sucli agreement a first refusal jY ' Danoy, Baker, Gisborne, should tlio Lessor be desirous of re- Herbert AA . ilhams, Clerk of Holy letting the premises, and tlie Vendor pr r Glsbornc “- undertakes that these benefits shall H. D. Hill Land Agent, (Ashorne. bo extonded to the Company. "• Harold Jvane, Chemist, Gisborne. G - Palalrefc - Settler, Gisborne. PROSPECTS. I j. Redward, Clerk, Gisborne. Tlio tiino seems opportune for tlie J as - C.’ Aidliin, Accountant, Gisborne, formation of this Company. TTie AVitness to all above signatures—coupon and cash system has been in- J. Todrig AA r itty, Clerk, Gisborne.

THE F EDERAL J7IISH J^j-ART. GLADSTONE ROAD. F RESH FISH Daily. the Trawler. Direct from Ring up Telephone 158, and our Cart will -promptly deliver your orders. A. J. RUSHER, Proprietor.