2-224 (Raw)

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The Gentlemen who Signed the requisition for a meeting to be held on Thursday the 16th Current to take into Consideration the necessity of forming a Joint Stock Auction Company in Melbourne, assembled together this day Wednesday the 8th April 1840 by Mutual Consent, at the office of William Meek Esqre and deeming delay injurious to the prospects of the Company, formed themselves into a Joint Stock Company, appointing Directors with power to add to their number, and Officers and issuing a prospectus of the Company of which the following is a Copy. [87]
From the unexampled prosperity of the Town of Melbourne the Capital of Australia Felix, especially in a Commercial point of view, from the rapidity with which it has become in the short space of Three Years, the Second town in the territory of New South Wales & from the Constant & daily increase of its Trade, both in Stock and merchandise of every description almost the whole of which is disposed of thro' the medium of Public Auction.
It is proposed in order to meet the wishes of the World Generally, as Well as those of the resident Stockholders & Graziers of this magnificent district and also to further the interests of Gentlemen introducing Stock for Sale from the elder Colony, to form a Joint Stock Auction Company in the Town of Melbourne to be denominated
"The Australia Felix Auction Company"
with a Capital of £50.000. to be raised in shares of Ten pounds each. The Said Company to be managed by Twenty Resident Directors and one Managing Director. That the plan & principle upon which the Sydney Auction is conducted & which have been found to work so admirably be adopted as the System of conducting the affairs of this Company.
While the projectors of this Company admit that the profitable results of such an institution must mainly depend upon its judicious management they at the same time feel confident that the period has arrived for the formation of such a Company and that no public Institution as yet formed in Melbourne offers so many advantages to the Proprietors with so little risk and so small an outlay of Capital....
Fifty Shares to qualify for Directorship.
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