VOTING BY PROXY.

Inangahua Times, 4 March 1909, Page 4

VOTING BY PROXY.

An interesting problem with regard to votes by proxy was disclosed at the annual meeting says the O. D. Times of the.Olrig Gold Dredging Company lately. It appears that there is a movement among a section of shareholders to have the office of the company moved from Dunedin to Alexandra, while others strongly oppose this. Naturally, both parties worked to secure as many proxies as possible for use at the annual meeting, where the question was to be settled. It so happened that the secretary stated on the printed proxy form that the proxies must be lodged not less than 24 hours before the time of meeting, and trusting to this, the Dunedin shareholders lodged most of theirs two days before the meeting. The Alexandra shareholders, however, were aware that an error had been made, as the articles of the company distinctly state that proxies must be lodged 72 hours beforehand, and they forwarded theirs accordingly. At the meeting last night the Alexandia directors claimed that the proxies lodged within the 72-hour limit must all be disallowed, but Mr Donald Reid, the company's solicitor, gave it as his opinion that, as the directions of the company's proper officer had 'i;een followed, the company would be estopped by its own action from disallowing the late proxies. In any case, he said, as far as that meeting was concerned, the decision lay with the chairman, who accordingly ruled that the challenged proxies be received, It is understood that legal proceedings will be instituted to upset the business done at the meeting, which was marked throughout bv much bitter feeling.