DISSATISFIED SHAREHOLDERS.

Dominion, Volume 5, Issue 1266, 23 October 1911, Page 4

DISSATISFIED SHAREHOLDERS.

FREEZING COMPANY OTRECTOBS 'ASKED TO KESIGN. CBy TelcKrinli.-SDCcial Correspondent.) Wanganui, October 22. A Rpncral meeting of thn .Meat Freezing Comirany was held on Saturday at'l.ernnon to consider tho followiuß notice of liiolion:—'"J'har, prcviiliuj a purchaser can be found for Iho eoinpnny's assets, and business as a goiiw eoncurn at a price which (after providing for all liabilities) will produce, a sum sufficient to return to tho shareholders at least the par value of their shares, the shareholders consider such ii sulo desirable, and authorise the siuiie." Alter a ioiiß mooting, by a majority of over 200 voles, ,in nitiomlment was carried: "That, with tho exception of the chairman, Alined Hurncl.t, «i;d (.!. H. KobcM'lson (who is Kelson Brothers' represeiitaliye), the board oi' directors resign iiiiinediatelv, and that Honry i.'ornioot. 11. E. IlecUett, A Inn hV-binsmi, nml C. li. Tlnitrau, be appuinlc:! to (lie Ikwiil." The mo?tiii!i then adjourned to n <ln(o to be fixed, w!ii>h the resolution will be submitted for o 'liriimlinn. Jt is |K><-Nible .that the roiiiaiiiiiiff direclcrs will also I'oyijfii, in which rase a deadlock will wur, as the arlic.liw of association do not: provide for the appointment of new clirwtcTS, save by tho lx\ird, ,)1' which three are liocessnry <o form a quorum. Tho promoters of the mectinc nro fully .<v\'tjsfir<l with tho soundness of tho company, but me diasatislicd v.itli Lho nu'-nn-sciiiciit.