WALTON PARK COAL AND POTTERY COMPANY.

Evening Star, Issue 8116, 16 January 1890, Page 2

WALTON PARK COAL AND POTTERY COMPANY.

TO THE EDITOR.

Sir, —I should like to give the shareholders of this company the opportunity, previous to the extraordinary general meeting on the 20th hast., of forming their own opinions on the following article of association, the interpretation of which will at that meeting come into question i Article XLVI.: When a poll is taken the share holders shall be entitled to votes in respect to the shares held by them as follows Ten shares to 50, one vote ; 50 to 200, two votes ; 200 to 500, five votes ; 500 to 1,000, seven votes; 1,000 to 1,500, nine votes ; for each 500 above 1,500, one vote, J understand the directors are advised that the voting should be taken on the cumulative principle, as follows :

That the article: does not justify cumulative voting, and that this interpretation does violence to the wording of the article, is not only my opinion, but that of a large number of intelligent business and professional men whom I have consulted.

f think the consensus of opinion is that it should be read thus ' " > i hj. ■

The late Master of the Rolls (Sir George Jesrel) laid down the dictum “ that whatever was opposed to common sense was bad law,’ ! I think, in the judgment of most men, the directors’ interpretation of this article will come under this category.--.-! am, etc., Thomas Haklanp. Roslyn, January 14.

Votes 10 shares up to 49 .. 1 BO „ „ 199 .. 8 200 „ „ 499 .. 8 500 „ „ 1,000 .. 15 1,000 „ „ 1,500 .. 24

70 shares up to and including Above BO ,, ' Vote?. BO 200 1 2 » 200 „ 500 5 „ 500 „ „ 1,000 7 .. 1.000 „ „ „ 1,500 .. 9