KAPAI-VERMONT.

Auckland Star, Volume XXIX, Issue 135, 9 June 1898, Page 7

KAPAI-VERMONT.

An extraordinary meeting of shareholders iv the Kapai-Vennont Company was held on .May 28th in the Chamber of mines. There was a good attendance. Mr James ' Russell, who presided, said the shareholders had beeu called together to consider the position of affairs, The No Liability Coy., of which they w*re shareholders, was in liquidation, Mr Giblein being liquidator. The position was a curious one. When the property was sold a mortgage "was given over the property. The 40,000 (shares had not been allotted, but the mortgage had been signed and three instalments of interest had .been paid. The last installment was not yet paid. The liquidator had received an, offer iq?

the purchase of the assets of tho Company. The liquidator wanted to know the shareholders' ideas upon the matter. The meeting was called to see if local shareholders were prepared to pay 2/ per share down and another 1/ within 12 months, in order to purchase the assets from the liquidator. If they did not agree to this there was a danger of the pro-< perty being sold to an outsider, when the shareholders might not get anything. After considerable discussion, it was agreed to allow a certain time for shareholders to decide, those willing to join in the agreement being asked to communicate with the NewZealand Mines Trust, a corporation owning about half the shares in tho company.