TRANSFER OF SHARES.

Auckland Star, Volume LIX, Issue 65, 17 March 1928, Page 14

TRANSFER OF SHARES.

COMPART CASS SETTLED

CROSS ACTIONS DISPOSED OF.

(By Telegraph. —Own Correspondent.)

HAMILTON, Friday

When the case of Abraham, Williams, Ltd., against James O'Connor and Robert Bullians, farmers, of Taumarunui, for specific performance in respect of a sale of 5000 shares in the Hayward Timber Company was resumed this morning, Mr. N. Johnson (for defendants) mentioned there were prospects of a settlement.. He understood that the purchasers of the shares had agreed to payment of an extra one shilling per share, representing a total of £250, and that all other matters in dispute had been satisfactorily settled. The case was therefore allowed to stand over, to enable counsel to confer and fix the final details of settlement.

Following on this action was • suit brought by O'Connor and Abrahams against the Hayward Timber Company, Ltd., in which the former claimed that the present directors of the company, Messrs. Gordon, Smith. Carroll. Simpson and Bullians, had been invalidly appointed, and asked Court for an order restraining them from further acting in that capacity. They also asked that the cqpapany should be restrained from enforcing a call of 2/6 per share made by the directors, and that the plaintiff O'Connor should be compensated for his alleged wrongful dismissal as manager. Defendants claimed that they had been rightly appointed, and that the financial position of the company justified the call that had been made.

When the case was called this morning before -Mr. Justice Blair, it was stated by counsel that Messrs. Gordon, Smith, and Carroll had agreed to take over plaintiffs' shares in the company, and plaintiffs withdrew their action. A petition by the company to hare plaintiffs adjudicated bankrupts was also withdrawn by leave of the Court.