DUNEDIN.

Auckland Star, Volume V, Issue 1498, 28 November 1874, Page 3

DUNEDIN.

(Per Press Telegram Agency.) This day. A meeting of the shareholders of the Titanic Steel Company was held last night. The chairman, Mr Speeding, said the shareholders, on first taking up shares, were led to believe they would only have to pay t6 10s a share, but now they found the action of Mr Smith, who founded the company, has repudiated, and the shareholders were called on to pay £10. Owing to the large number of shares taken by some who were unable to do this, the directors now stated that Mr Smith had no authority to act in the way he had done, and could not uphold his action. The deposit money, when applied for, was refusedf Shareholders had received summary notice to pay £10 per share, and had to appear at Wellington on certain days between December the 11th and the 18th. A motion was carried, that unless compelled to do so, the shareholders will pay no more calls. Seeing the action taken, it was resolved to telegraph to Mr Stout, at Wellington, to apprise him of the action taken, and request him, while in Wellington, to watch the interests of shareholders. Colonial hams, Is 2d to Is 3d ; English, not much in demand at Is 4d to Is 6d ; beef, do 9d ; cheese, best quality, very scarce at lid to a shilling.