STEWART GOLD COMPANY

Evening Star, Issue 24005, 2 October 1941, Page 2

STEWART GOLD COMPANY

HOW IN LIQUIDATION MEETING OF CREDITORS A meeting of creditors of tlio Stewart Gold Company, in liquidation, which was ordered by tlio court to bo wound up on September 8, was held before the Official Assignee (Mr J. M. Adam) to-day. The meeting was called to consider the appointment of a liquidator in place of the Official Assignee and to decide whether the creditors wanted a committee of inspection appointed. The meeting decided that no application be made to the court for a liquidator, and also that no applications bo made for a committee of inspection to act with the liquidator. Liabilities of the company, an unregistered one. were set down at £1 ,GB3, and wages and salaries £426. Assets, whch were composed wholly of mining machinery and plant at Waikaka, were estimated at £2,175. There were 22 members of the company, holding 750 £lO shares all fully paid up Creditors discussed with the assignee the question of the liability of these shareholders, the assignee stating this matter would have to bo decided later. It was decided to leave the disposal of the plant and machinery in the hands of the assignee,' who will inspect it before coning to anv decision concerning the method of sale.