AUCKLAND COFFEE PALACE COMPANY.

New Zealand Herald, Volume XIX, Issue 6564, 30 November 1882, Page 6

AUCKLAND COFFEE PALACE COMPANY.

♦ GENERAL MEETING. Tn K annual meeting of the Auckland Coffee Palace Company (Limited) was held at noon yesterday in the Colonial Bank Buildings. There were twelve shareholders present, and Mr. Joseph Newman presided. The minutes of the previous meeting were read and confirmed. The Chaikman said as the shareholders were aware the law required that the annual j meeting of the company should be held for the purpose of receiving the report of the directors. The business was merely formal, and he would use his privilege of moving the adoption of the report. I.he Skck.taky (Mr. Milne) then read the j rvport as follows :—The articles of association require that a meeting be held in the month oi November each year. The direc- ' tors have to report that they have kept the j objects of the company steadily before them, j and until interrupted by the extraordinary ; general meetings held in July and September ' 'was carrving on the work connected with the erection of the buildings. Owing to a I , resolution carried out, the meeting in Sep- j teinber resolved to dispose of the site. . Measures were taken to do so, tirst by j tender, and s:.b--.;ueutly by public auction. | j Tiie site was sob : on tiie 10th November for | j i.159,.0. No accounts are presented at this meeting in view ol a probable winding up of tiie company, which may be determined on at the extraordinary general meeting to be held at the close of the present meeting. The directors retiring aie Messrs. Graves Aickin and John Chambers. The Chairman said that as this was purely a matter of form, the shareholders j would be more satisfied if they could finish the whole business iu one day, but this could not he. as certain things were required by tiie Act. As they were so near the funeral of the project, he need not make ', many comments, but allow it to e buried decently. He might, however, state that the directors had given the fullest attention to the business ol the company, and it was not on account of any neglect or fault of theirs that they had failed to succeed, but influences had teen Li ought to bear, before which they had to bow. He now moved the adoption or the report. Tue motion was seconded by Mr. Com ton and carried. ! Messrs. G. Aickin and J. Chambers were rc-cleetvd directors. Tliis concluded the business of the annual meeting. I.Xn:AoKi.'IN.\:.Y MKETI.NO. Tiie Chaii'.man said the extraordinary meeting was called for the purpose of adopting the following resolution, prepared by their solicitor:—''That the Auckland Coffee Pala.e Company (Limited), be wound up voluntarily, .ii.d that .lohu Milne be ap-p.-.nted Iniu.-iati.r." Tiie secretary and i.iinsclr had fallen into an error iu not sending out proxies. They Were uiuier the impussion that the attendance at tiie general meeting would be sufficient for the extraordinary meeting, but they found that the Act re.juiieu that two-thirds in number and value must be represented either in person or by p:o\y, so that their best course would be to adj..-urn the present meeting for a week, ami the secretary would in tiie meantime send out proxy iorms. Mr. Auki.v asked whether it would not be necessary to give fourteen days' notice of the extra, r liuary meeting, as the present not ijcliij- a full meeting may not have power to adjourn. It was finally agreed, on the motion of Mr. Limb, that tile present meeting stand adjourned for a Week or for a fortnight if the company's solicitor thought it necessary. Mr. La.'.m asked whether they should not have seine statement of accounts before them, even if thev could not deal with them. The Src.'ii'.TAßY explained that the company had i-JuOO overelraltat tile bank. The sites realised .'JII'.'UO, covering a mortgage of ii.YJU, so that tin-re was £1 I'JO to deal with. Tiiero were certain other accounts and charges to be met, but shareholders who had pud up their calls would receive a substantial return. I