WINDING UP.

Dominion, Volume 1, Issue 147, 16 March 1908, Page 7

WINDING UP.

"0. 11. DRUCH, LIMITED," TO DISAPPEAR. CAPITAL EXPENDED. STATEMENT BY CLAIMANT. nr TELEGCAPn—PItESS ASSOCIATION—COrYEICHT London, March 13. G. H: Druoe, Limited, has resolved to wind up. Mr. Georgo Hollamby Di'uee (claimant) Stated that all tho subscribed capital had boon expended, and'therp were still liabilities to the amount of £300. WILL THE CLAIM BE DROPPED? LIQUIDATOR TO DECIDE. (Rec. March 15, 5.30 p.m.)'

London,. March 14. At tho meeting at which it was decided to wind up G. H. Dfuco, Limitcid, thero wero half a dozen shareholders present, besides tho officials of tho company. Mr. G. H. Druco informed the meeting that tho winding up need not affect tho proceedings to establish his claim to tho Portland and Do Waldon estates, which would bo continued or dropped according as tho liquidator advised. The shareholders' tights wero intact, and any assets which might ultimately remain would be distributed. ,

' THEN—AND MOW. ' "G. H. Druco, Ltd.," is .the, original . Company. The seebnd Company, which' Was formed after the trial started, called the "New Druce-Portland, Ltd.," r was ordei-edito be compulsorily wound-up by Mr. JiistlCe Neville in January last.' The three leading witnesses ef G. H. Druc6, Ltd,, all stand charged with perjury... In. the. light of, events, it is, interesting tb . read some ef tho remarks at a'Meeting ef the Company last Juno, .when, the prospects appeared roseate. . ,\ . . .. i For ■ instance, "Mr. Thomas- It.' ' ,Vi. Coburn, barristerand ' solicitor . of : : tlid Supremo Coilft of Victoria, Who went tb England,, from Australia, with-Mr. Druee for tho purposo of assisting him to prepare his case, said that they, had the Statement-by the fifth duke that ho: was T. C., Druce, given to his, btfn private secretary, and written down in her diary at tho .time,' Could, they imagines more pesitive evidence than that ?• The lady; Who lifid cbifld from New Zealand\te give evidence,' had been'promised nothing,by them whatever; all she : had'boon paid was a sufli-' cient stlfn to kedp,her in tenjland, ftfltl the lady. companion .whb.-came from' New Zeiiland with her. N I ~ ' ;

At the:same meeting it was stated that "Mr.Druco had receive 1 from tho Salo of ordinaiy shares a sum very-'-much, in excess of their par value, and thi3' money he had faithfully oxpoiuled iri'tho prosecution of his,claim, but the amount so realised would , not, be sufficient to conduct the actual trial before'tho Court, which, it was expected, would take placo towards ! tho end of tho, present' year. ~lt was estimated that tho cost of such trial .would amount.,to ; between 1 ,,£4000 and .£SOOO. v . All' shares not applied 'for; under this proposal within one month would go on the market for .sale at && per share; or such'sum Over <Ei as market dealingY might determine."