Union Sash and Door Company.

Auckland Star, Volume XVIII, Issue 26, 1 February 1887, Page 4

Union Sash and Door Company.

At tho conclutiou of the annual meeting a shareholders vi the above Company yesterday aiwrnoorj, a fpecial meeting was held for the purpose or passiug a special resolution to alter clauses 9, TO, 11, 31, and 39 o: Jche Ailiclts ot Association, On the ihouoq ot Colonel Haultain, eeeonded by Captain Thomas, the number of directors was reduced iroro Ito 5. It waa also resolved, ou lhe motion oi Colonel Haulfciin Chul thiea directors iosteau of tour should form a quorum, and that the remuneration of the uirectu.s should, be £301) instead of Jiij'OO a year. It waa also resjlved to alter Clause 31, so as to include in the business of an ordinary unnual meeting the election of directors and auditors, which by anover--tight hud btea ou.itcedfrora tho ruUj. Discussion thuu endued upon .Rule 39, which read as follows:—Un oveiy question to bo decided oy voting, oveiy sharenulder pveeenb at auy meeting iv persoa or by projty and, entitled to vote thereat, shall have one vota for every share held by him, Mr Upton ih.iiii.eu cut chat a ciause \u the Companies Act, ISS2, reguluttd tiia voting so that tho holdeie of a large number of shares wore prevented irom twamping the emalitx1 shareholders. That clause had not been adopted by tho Company., Colonel Haultain moved, and Capl.afa He-Weil seconded, thai clause 44 of tho first schedule of tho Companies Act, «SS2, be suusiituted tor rule Hi) of the Com tinny, which read as follows :—"Every member fihah have ouw vote lor every siiara up to tc-n. Ha shull have an additional vote for every five shares beyond tho first ton shares up to 100 shares', aud in aaditional vote for every ten shares beyond the n'rst lOOsharea." Tht in«ticju was carried by a majarity oj the shareholders present, but ou the shareholding strength beibg ascertained, it was luund that there -.vc-re 1,058 ehareßfor auct 2,602 agaiuet the resolution; it was accordingly declared io^t. Ou the motion ot Mr Monk, voles oi thanks were. accorded the Chairman and oilicsia of tha Company, after which the meeting terminated.