GOLD MINING COMPANY

Dominion, Volume 22, Issue 139, 8 March 1929, Page 10

GOLD MINING COMPANY

LIQUIDATION AVOIDED

Dominion Special Service.

Auckland, March 7.

“I am quite satisfied we ean get this money,” said Mr. P. F. Watson, chairman of the Caledonia-Kuranui-Moana-taiari Consolidated Gold Mining Company when informing a meeting of shareholders that only 2600 more shares were required to save the company from voluntary liquidation. Of the 32,250 shares originally required 29,650 had been subscribed. The meeting was called to confirm a resolution -passed at ah earlier extraordinary meeting to wind up the concern under the provisions of the Companies Act.

After hearing the chairman’s report on the position the shareholders present unanimously accepted his advice to throw out the resolution and give the directors an opportunity to raise the balance of the required capital. That morning the directors had secured all but 7998 of the shares needed. Mr. Watson said. They themselves had subscribed 4750 shares between them in addition to the quota they had contributed as shareholders, ’leaving a' balance of 3248 still to be subscribed. Several hundred shares were offered at the meeting, with the result that the balance was reduced to 2600. A unanimous rote was then accorded against the resolution to wind up the affairs of the company, and the directors were authorised - to proceed to allotment as soon as 2600 shares were collected.