RESIGNATIONS NOW FIVE

Press, Volume XCIX, Issue 29165, 28 March 1960, Page 14

RESIGNATIONS NOW FIVE

Cement Company Board (New Zealand Press Association) INVERCARGILL, March 27. Two more directors of the Southland Cement Company have resigned. Mr John Barron, of Invercargill, confirmed his resignation tonight and it is understood that Mr J. C. Fraser, of Winton, resigned at the same time—immediately after the general meeting of the company’s shareholders on Friday. Mr Fraser was not available for comrrient tonight. A reported third resignation cannot be confirmed.

Messrs Barron and Fraser’s resignations bring the total resignations from the directorate during the last few weeks to five. Mr Barron said tonight his resignation had nothing whatsoever to do with the defeat on Friday of his motion which sought to have the minimum stock holding qualification of a director raised from £lOO to £5OO. Only two members of the directorate as at the ehd of the last financial year now remain. They are Messrs R. T. Stewart • deputy-chairman), of Underwood, and Mr A. L; Adamson. Mayor of Invercargill. The former resignations were those of the chairman, Mr D. D. Fea. of Winton, two directors. Messrs L. E. Raines and G. P. Duthie, and the supervisor, Mr R- G. Stark. Three of these were replaced by Messrs J. R. McIlwrick, a public accountant, of Invercargill. H. Richardson, a builder, of Invercargill, and R. J. Mclean. a farmer, of Kennington. Messrs Fea and Duthie said they resigned for health reasons and Mr Raines would make no comment.