POTTER'S WOOL-SCOURING MACHINERY COMPANY.

New Zealand Herald, Volume XXI, Issue 7162, 30 October 1884, Page 5

POTTER'S WOOL-SCOURING MACHINERY COMPANY.

A general meeting of the company, convened for the purpose of transacting ordinary business, and to consider the advisability of winding-up the company, was held yesterday afternoon at the company's office, Colonial Bank/Buildings. Mr. Burtt presided. There being a quorum present, the minutes of last meeting were read and confirmed. The Chairman said as they had heard, the object of the meeting was to consider the position of the company and the desirability of winding it up. The Secretary would read to them a balance-sheet which, although not formal, would couvey the position of the company. The capital account was as follows :—2OOO fully paid-up shares at £1 ; 2665 subscribed shares called up, 15s, £1548 los ; less calls unpaid, £193 103 - £1355 ; Bank of Now Zealand, £344 Is 2d ; accounts owing by company, £174 103 6d; total, £1573 11s Sd.—■ By paid for machinery, £336 5s Sd ; patent rights, £312 10a 4-1 ; general expenses, £98 lls 2d ; wages, £345; wool-scouring, Auckland aud Christchurch, £735 12s 4d; accounts owing, £9 17j 2d ; unadjusted balances, £14 12s; cash in hand, £21 35—£1873 lls SJ. The liabilities wtre £56S lls'Sd, and'the assets £741 0s 2d. — Several questions were asked and replied to by the Chairman, who moved, " That an extraordinary general meeting of the company be called to authorise the winding up of the oompany, and the appointment of a liquidator; and (2) that tha directors dispose of the machines and patent right 3 to the best advantage."— A somewhat animated discussion took place between Mr. Potter, the promoter of the scheme, several shareholders, and the Chairman, relative to the position of the company, its patent rights, &0., and Mr. Potter moved, " That no question for"winding up this company be considered until tho accounts and balauce-shoat be submitted to the shareholders, such accounts to be signed by the shareholders and auditors."—Neither ■ step was taken, aud it was finally agreed, "That the annual meeting of the company be called as soon as practicable after the arrival of account sales and proceeds of wool forwarded to London."—This concluded the . business.