COMBINED BUYERS, LTD.

Hawera Star, Volume XLV, 9 July 1925, Page 5

COMBINED BUYERS, LTD.

MEETING IN CHRISTCHURCH. (BY TELEGRAPH. PRESS ASSOCIATION.) CHRISTCHURCH, July S. An unoffioiail meeting of shareholders of Combined Buyers, Ltd., representing South Island interests, was held today, eighteen being present. The three" 1 following motions "were carried .unaninnuusiy: —■ That this meeting protests against the action of the preference directors with the assistance of T. Taylor in proposing to appoint three joint managers, Messrs. T. Taylor, L. -F. Wallis and El. H. Walls at £IOOO a year each a.s being extravagant and unnecessary and that such action is detrimental to the interests of the shareholders. That this meeting claims that the South Island shareholders are entitled to direct representation on the board of directors and hopes that one, if not both new directors, may be chosen from the southern shareholders. That this meeting emphatically declares the necessity of getting rid of the incubus of the preference chareholders’ privileges at once, and failing this object, the company go into !io nidation. 1 It was decided that if it becomes ueceosarv for the company to go into hi bint ion the present ■ shareholders .should take steps to reorganise it.