1 : TORE WOUND TIFf At the meeting of the Harbour Board this afternoon the following letter, received from the Ferroconcrete Company of Australasia, Ltd.; was Wad by the secretary:-—
Adelaide, 4th March,l9o9.
The Secretary. Auckland Harbour Board, Auckland, N«Z_, yy
Dear Sir,—We regret to have to inform you that in consequence of- pressure put upon u» Dy o&e of our creditors we have been obliged to call ft meeting of our shareholders to wind up the Company. We 'have' inatrwiiM'---' trot : representatives in Auckland -to - endeavour 'to'" arrange *y-mtfi:- r yoU ;t<> allow IU to complete our contracts under a liquidator, and we trust that you will agree to thin arrangement a* wo think it Will best conserve the interest«f ''all 'parties concerned. :■ — Yourg faithfully, (Signed), J. I__ Samuel, Secretary. , ft-;-2-ft: The Hon. E. Mitchelson said that when. theletter-wM handed to him'he thought it', *'*w» &timtirdtoairz that it should have been received after (the "Standing Committee had recommended the pajmeiit of £12,000 to the C<m* pany. At his instigation, the manager, Mr. Robertson, came to see him, and Was asked if he had any idea that this letter was forthcoming -when the application for the |12,00p was'made. The manager had assured-him. that he had not. '2- ' '' :' ' ■ ■• J
Mr. Napier: Is* the letter from Adelaide? .'•_'*
Mr. Mjtchelsonr Yes, from the secretary of''the'Company. '"'" '.ft- '■>'■ ■•!' The Chairman went bnrtb'eay; that the Board's solicitor had advised that they were amply protected; ; &* - '. Mr. moved'thatithe letter be referred to the. Board in mittee. ____"'sitw*' no objection to "'the work being carried out udder a liquidator. The BoardTiad the-'caitf-j-'eaid'the arrangement would suit them quite vfell. The motion was agreed to without further discussion. tJj\ --/ft.'
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