NORTH CANTERBURY SALEYARDS COMPANY.

Lyttelton Times, Volume XCIII, Issue 10654, 15 May 1895, Page 2

NORTH CANTERBURY SALEYARDS COMPANY.

The adjourned annual meeting of tha North Canterbury Savoyards Company was’ held at Rangiora yesterday afternoon. There was an attendance of about sixty. Captain Parsons, Chairman of Directors, presided. The Chairman, in opening the business, said that the present meeting was held to consider the position of the company. Ho wished to correct a statement he -had made at the last meeting, to the effect that there wore 541 shareholders. Tho actual number of shareholders was ’293, who held nearly 1500 shares. The present position of tha company had been fully ex- : plained at tho last meeting, and it was for the sharoholdors to consider what should? ba done. i Mr J. Stalker eaid ha objected as’a I director to be held liable for the expenses.) of working the yards ; and he considered! that tho shareholders should pub their, money down to free the company from its ! liabilities. Mr W. Anderson proposed—“ That the yards bo kept open providing shareholder* take up not less than 150 shares, and that 1 this meeting, in order to economise, bags' to ask tho Directors to dispense with the secretaryship during the present depression, aud considers that tha Directors! should arrange with tha several auctioneers to pay tho fees due at their (tho Directors 5 ) ordinary monthly meeting.” Tho mover pointed cut that the money, from 150 shares would pay off tho bank liability and leave a surplus for incidental expenses. By dispensing with the Secre-| tary, tho working expenses would be reduced to £SO, and ho believed that confidence would be restored, larger entries received, and tho Directors enabled to pay a dividend. A long dißcnssioa ensued, and it was ultimately resolved to act on the first pari; of Mr Anderson’s motion,' a’ show of bonds deciding that tho yards should bo kept open. • ! la response to an appeal for shares to ba taken up, thirty-seven' were applied for. Tha Chairman. pointed out that .this number would not relievo the Directors as desired. ! ; Mr J. Dowds moved amotion to the effect that each shareholder should guarantee, the company a sum not exceeding 5b for one year, to assist the Directors in keeping tha yards open. The motion being carried, a guarantee form was drawn up, and most of those present signed it. This concluded the business. M At a meeting of the Directors, held after- ■ wards, Mr B. W. Chapman was elected •chairman for the ensuing year.