ROSS GOLDFIELDS, LTD.

Evening Post, Volume LXXX, Issue 83, 5 October 1910, Page 3

ROSS GOLDFIELDS, LTD.

MEETING OF SHAREHOLDERS. AUCKLAND, 4th October. A meeting of local shareholders in the Eoss Goldfields, Limited, was held in the Auckland Stock Exchange call-room this afternoon for the purpose of considering matters relative to ihe reconstruction of the company. Mr. liuttle'said he had called the meeting together at the request of the liquidator, who had asked him to convey the views of 'local shareholders regarding the reconstruction of tho company. Mr. F. Hull said that although the meeting was a small one, it represented a good many sharec. In his opinion, and he believed in that of local shareholders, the company should be reformed with a capital of £80,000, in t>j,Qoo shares of £1 each, 70,000 .shares to be issued and paid up to 14e. or 15s. He moved iv that direction.

The chairman moved that they recommend the liquidator to adopt the following scheme of reconstruction: — "(1) That a new company be formed with a capital of £80,000 in 80,000 shares of £1 each; (2) that 70,000 shares be offered pro rata to the shareholders of the Ross Goldfields, with 14s paid-up, thus carrying a liability of 6s per share.' 1 This, he said, was on the basis of the old company. Mr. H. Maspen seconded, and Mr. Hull withdrew his motion in favour of the chairman's, which was carried. The chairman moved : — "That it be eugested to the liquidator, if he carried out the scheme, that he raise the capital ,by making Is per share payable on application, and Is per share on allotment." Such a course, he said, would enable the company to clear off its liabilities, and leave £2000 in hand. Mr. Hull seconded, and the motion was carried. It was further decided to suggest that the company's office, if possible, should be located in Wellington.