KAPANGA GOLD-MINING COMPANY.
Aw extraordinary general meeting of the shai eholders of the Kapanga Goldmining Company was held in the company's office, Queen-street, on Monday last. Present : Messrs. Heale, Cochrane, R. Wood, Stark, Harris, Walton, Potter, Kerr, Tioup, Abbott, Machattie, Turnbull, Wrigley, and Home. On the motion of Mr. Potter, seconded by Mr. Wood, Mr. Heale was called to the cbair. The Secretary (Mr. Home) read the advertisement calling the meeting ; also, a letter- from Mr. Cochrane, proposing an alteration in a resolution passed at a former meeting. The Chairman intimated that the business before the meeting was to ascertain the views of the shareholders upon the proposal mentioned in the advertisement, namely, whether they should rescind the resolution requiring that the sum of £1,800 be reserved, prior to the payment of any dividend. Mr. Abbott then moved, seconded by Mr. Cochrane, that the resolution be rescinded. After a long discussion, in which Messrs. Abbott, Wood, Cochraue, and Troup took part, Mr. Abbott submitted the following resolution, which he stated that he intended to propose in the event of his motion being carried, " That £1,800 be considered a sufficient reserve for all contingencies, and that when that sum is found to the credit of the company, the directors be empowered to declare the balance in dividends." The Chairman then put the motion to the meeting whether the original resolution should be rescinded. The motion was negatived, so that the original resolution remains unaltered. Mr. Abbott moved, aud Mr. Cooiirane seconded, a vote of thanks to the Chairman, which was carried, and the meeting separated.
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Bibliographic details
Daily Southern Cross, Volume XXII, Issue 2807, 25 July 1866, Page 5
Word Count
264KAPANGA GOLD-MINING COMPANY. Daily Southern Cross, Volume XXII, Issue 2807, 25 July 1866, Page 5
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