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Our Auckland correspondent wires that a special extraordinary meeting of the Native Land Company was held this afternoon to consider the advisableness of giving the directors power to realise the assets of the company, and of increasing remuneration of the directors. Mr Kissling, one of the liquidators, stated that the object of the resolution was to give the liquidators the power of compromising instead of forcing people into bankruptcy, but not with the view of showing leniency. Mr Clark proposed and Mr Campbell seconded—"That the liquidators may exercise the power of compromise under the 221st section of the Companies Act." This was carried. It was also resolved that, in addition to the sum of LIQO voted to each liquidator on the 4th August last, tne remuneration be increased by L2OO, to be divided between the liquidation as they arranged, to cover the charge for olerical worjs, and that in the event of landed eatate being realised by liquidators the remuneration for the sale shall be 1| per cent, on the amount of the sale. A resolution was also passed requesting the Bank of New Zealand to allow the liquidators sufficient time to rsalise landed property and recover as much as possible of the shareholders' money.

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Bibliographic details

THE NATIVE LAND COMPANY., Issue 7934, 15 June 1889

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THE NATIVE LAND COMPANY. Issue 7934, 15 June 1889

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