656
THE NEW ZEALAND GAZETTE.

(c.) To enable the directors to carry out the objects in-
tended to be effected by resolution No. 3, hereinafter set out,
it is intended to vest the following powers in the directors
with respect to the assets and accounts mentioned in the
said resolution No. 3:—
(1.) To keep a separate liquidation account of such assets;
(2.) To empower the Board of Directors to determine what
accounts and assets come within the operation of
resolution No. 3 hereinafter mentioned;
(3.) To value and revalue such assets at such intervals as
the directors may think fit;
(4.) In making up balance-sheets for declaring dividends,
to estimate the said assets according to the last
valuation thereof, or to make up such balance-sheets,
if the directors think fit, without reference to the
state of the liquidation account;
(d.) (1.) To buy mortgaged land when sold under power of
sale;
(2.) To acquire mortgaged lands absolutely in cases of
bankruptcy;
(3.) To pay off prior mortgages;
(4.) To purchase equity of redemption in any such lands
from Assignee in Bankruptcy;
(5.) In cases of mortgages of leasehold or other cases of
leasehold, to purchase the freehold if directors think
beneficial;
(e.) To sell, mortgage, charge, or otherwise deal with the
said assets in such way as the directors may think fit;
(f.) To accept fully paid-up shares in any company pur-
chasing the said assets as consideration or part consideration
for the sale thereof, and to hold such shares until the direc-
tors can conveniently dispose thereof;
(g.) To make the before-mentioned power and provisions re-
trospective as from the 11th October last;
(h.) To empower shareholders from time to time to change
the principal place of business of the bank to any part of
the Colony of New Zealand or any part of the British domin-
ions;
(i.) To validate conveyances, assignments, and transfers of
properties, including shares in companies, being part of
assets to bank in its corporate name, and to enable the bank
to hold in its corporate name, and without the intervention
of trustees, properties, including shares in companies form-
ing part of said assets;
(j.) To do all such other things as are incidental or con-
ducive to the attainment of the before-mentioned objects.
The following is a copy of the resolutions above referred
to:—

1. "That £3 per share of the present paid-up capital of
   the bank be and the same is hereby cancelled, such capital
   having been lost or being unrepresented by available assets;
   and that henceforth dividends shall be paid on such shares
   as representing £7 each instead of £10 each, the original
   amount thereof. But such reduction shall not interfere with
   or in any way alter the liability of shareholders to contribute
   a further sum of £10, as provided by the bank's Act and deed
   of settlement, in the event of the assets of the corporation
   being insufficient to meet its engagements."

2. "That the directors be empowered, at their option, to
   receive from shareholders willing to pay the same £3 per
   share to reinstate their shares to the original amount of £10
   per share, and on all shares so reinstated to pay dividends on
   the original amount of such shares: Provided that such
   payment to reinstate shares shall not render the shareholder
   liable to pay any further or larger amount than he would
   have been liable for if the shares had remained at £10 each,
   as originally created."

3. "That the several assets and accounts held for realisa-
   tion, and outside the category of what may be regarded as
   ordinary and current business, be liquidated by the directors
   as speedily as may be, having regard to advantageous reali-
   sation thereof; and that in the meantime such assets be
   transferred to, and held and treated in globo in, a separate
   liquidation account, and so as that surplus in realising any
   one asset may be set against deficiency in realising any other
   without passing such surplus or deficiencies respectively
   through the ordinary profit and loss account."

4. "That the words beginning 'and if' in clause 102 of the
   deed of settlement, to the end of the clause, be and the
   same are hereby deleted."

5. "That in disposing of the new shares created and
   authorised to be issued by the resolution of the special
   general meeting of proprietors, held on the third day of
   October last, the Board of Directors may make it one of the
   conditions that payment for such new shares may be made
   by such instalments as the Board of Directors may think
   fit."

And notice is hereby further given that copies of the said
Bill will be deposited at the office of the Examiner of Stand-
ing Orders, at Wellington, at or within fourteen days after
the commencement of the session.

Dated this 31st day of May, 1889.

260
C. E. BUTTON,
Auckland, Solicitor for the Promoters of the Bill.

[No. 36

NOTICE.

In the matter of "The District Railways Act, 1877," and
the several amendments thereof, and in the matter of the
Cobden Railway and Coal Company (Limited).

NOTICE is hereby given that it is the intention of the
aforesaid company to apply to His Excellency the
Governor for authority, under the above-mentioned Acts, to
construct a railway from Cobden vid Coal Creek to a point
near the Seven-mile Creek, a length of 4 miles and 78 chains
or thereabouts; and that the plans defining the middle line,
and direction thereof, and books of reference showing the
lands required to be taken for the same, and the names of
the owners and occupiers thereof, as far as they can be
ascertained, have this day been deposited, and may be in-
spected, at the office of the Grey County Council, in Gresson
Street, in the Borough of Greymouth, the office of the
Borough Council at Greymouth, the Post Office at Cobden,
and the Public Works Office at Wellington, during office
hours, without fee.

By order.

WILLIAM WHITNEY DARTNALL,
Resident Engineer of the Cobden Railway and
Coal Company (Limited).

Dated at Greymouth, 2nd May, 1889. 229

"THE DISTRICT RAILWAYS ACT, 1877."

NOTICE is hereby given that the Point Elizabeth Rail-
way Company (Limited) intends to apply to His
Excellency the Governor, under the twentieth section of the
above Act, for leave to construct a railway about 7 miles and
10 chains long from Mawhera Quay, Greymouth, through
Block XII., Greymouth Survey District, and Blocks I., II.,
III., and IV., Cobden Survey District; and that the plan
and book of reference showing the line of such railway and
the limit of deviation, the lands required to be taken, and
the names of the owners and occupiers so far as can be ascer-
tained, have been deposited at the office of the Grey County
Council, and the Public Works Office, Wellington, and can
be there inspected free of cost.

By order.

EDWARD IVEAGH LORD,
Engineer to the Point Elizabeth Railway
Company (Limited).
221

CONTENTS.

APPOINTMENTS—
Cadet .. .. .. .. .. .. PAGE
Cemetery Trustees .. .. .. 648
Clerk of the Executive Council .. .. 647
Consul .. .. .. .. .. 648
Deputy Commissioner of Stamps .. .. 648
Governor and Commander-in-Chief .. .. 648
Health Officer .. .. .. .. 648
Licensing Committee .. .. .. 648
Local Land Officer .. .. .. .. 645
Member of Licensing Committees .. .. 648
Members of Land Boards .. .. .. 648
Rabbit District Trustee .. .. .. 649
Ranger .. .. .. .. .. 648
CROWN LANDS NOTICES .. .. .. 652
LAND—
Proposed to be taken for Road .. .. 647
Removal of Restrictions .. .. .. 646
Taken for Railway .. .. .. .. 645
LAND TRANSFER ACT NOTICES .. .. 654
MISCELLANEOUS—
Application for Registration of Trade Mark .. 650
Bonding Warehouses .. .. .. 650
Certain Acts under "The Licensing Act, 1881,"
validated .. .. .. .. .. 646
Civil Service Examination Notice .. .. 650
Friendly Society registered .. .. .. 651
Member of Land Board resigned .. .. 649
Officiating Ministers .. .. .. .. 651
Patents .. .. .. .. .. 651
Powers under "The Public Domains Act, 1881,"
delegated .. .. .. .. .. 646
Proposed Loan .. .. .. .. .. 649
Road Board Elections .. .. .. .. 650
Special Claim cancelled .. .. .. .. 651
Special Order .. .. .. .. .. 649
Tenders .. .. .. .. .. 650
Trustee of Nelson Savings Bank resigned .. 649
MINING NOTICES .. .. .. .. .. 654
NATIVE LAND COURT NOTICES .. .. 652
PRIVATE ADVERTISEMENTS .. .. .. 655
VOLUNTEERS .. .. .. .. .. 649

By Authority: GEORGE DIDSBURY, Govt. Printer, Wellington.