PATEA FREEZING WORKS

Hawera Star, Volume XLVIII, 10 January 1925, Page 4

PATEA FREEZING WORKS

ARRANGEMENT FOR THIS YEAR.' DISTRICT MEAT COMPANY NOT OPERATING. The first annual meeting of the Patea District Meat Company, Ltd., was held at the office of the Patea Farmers’ Freezing Company yesterday. The chairman (Mr. C. Dickie) presidio moving the adoption of the auditor’s report and statement of accounts, the chairman stated that til© directors had decided not to start opeiations this year, but to hand over the control to the Patea Farmers’ Freezing Compapy and advance, to that company any share capital received and any advance obtained against store warrants. At the first meeting of shareholders it had been freely stated that it was not a fair thing to expect the directors to sign a joint and several and carry the whole .burden of the company. However, he* was glad to say that the directors had taken upon themselves the responsibility, and had arranged an advance against the uncalled (capital. He thought that everything pointed' to a fairly good year, and formally moved, the adoption of the statement of accounts and the auditor’s report. —The motion was seconded and carried without dissent. - On the motion of Mr. R. W. Hamerton, seconded by Mr, W. Glenny, the retirincr directors and the auditor were unanimously re-elected. The annual meeting then adjourned. An extraordinary general meeting of the Patea District Meat Company, Ltd., was held immediately after the close of the annual general meeting, the business being to confirm'the following resolution passed at the first statutory meeting of the company, held on Fridav. December 19, 1924: “That upon any offer of shares to the public for subscription the company may pay commission of not more than 24 per cent, on the nominal amount of the shares already allotted, and a. commission of not more than five per cent, on the nominal amount of anv shares that mnv be allotted after the 30th dav of November. 1924. in pursuance of the powers in that behalf expressly oonforred bv the Companies Act, N 1908.” The resolution was confirmed, on the motion nf the chairman* seconded bv Mr. A. T. Christensen. The meeting then adjourned.