GALBRAITH IRON AND STEEL COMPANY.

Auckland Star, Volume XXXIX, Issue 250, 19 October 1908, Page 2

GALBRAITH IRON AND STEEL COMPANY.

Some 25 shareholders were present at an extraordinary general meeting of the Galbraith Iron and Steel Company, Limited. The chairman of directors (Key. P. S. Smallfield) occupied the chair. The chairman explained that the object of the meeting wits to consider an offer for the purchase of the company's assets. He referred to the efforts that were being made by the inventor and Dr. Knight to ensure recognition of the patent in England, and the failure so far as they knew of the demonstrations made. Quite recently a letter had been received from Dr. Knight, mating an offer to the company, and asking shareholders to Join a new company. The offer was to the effect that the company should accept £500 cash and 20,000 shares in the new company. The directors were of opinion that the offer should be accepted. In reply to questions, the secretary said the assets of the company were just the patent rights and the safe. ■The action of the directors was unanimously confirmed, and the meeting terminated with votes of thanks to the chair- , man and secretary. The acceptance of the offer means that every shareholder In the present company will receive about one new share for every three held.