THE ISLAND BAY RACING COMPANY.

New Zealand Herald, Volume XXIV, Issue 7914, 5 April 1887, Page 5

THE ISLAND BAY RACING COMPANY.

Wellington, Monday.

A special meeting of the Island Bay Park Racing and Coursing Company was held tonight, to consider the following resolution :— " That it has been proved to the satisfaction of this meeting that this Company ennnot, by reason of iti liabilities, continue its business, and that it is advisable to wind up the name, and accordingly that the Company be wonnd up voluntarily, under the provisions of The Company a Act, 1882.". Dr. Newman, president of the Company, who presided, exi plaiaed that the Company had got into its present position owing to laok of Bupport from the shareholders. The liabilities were : Secured, £3000; unsecured, £400; total, £3400. The assets (exclusive of land) amounted to only £339, showing a deficiency of £3061. The resolution was carried without opposition. Dr. Newman and Mr. A. J. McTavieh were appointed liquidators, and were empowered to sell the aeaets of the Company at such prices as will cover the liabilities of the Company. It is understood that a new company ia being formed to take over the property and continue the raoing.

Peter Osbeck, Spade Guinea, Kivulet, and Volcano were yesterday scratched for all engagements at the Takapuna meeting. The settling on the Otahuhu meeting takes place to-night at the Star Hotel, Otahuhu. Acceptances and general entries in connection with the Takapuna meeting are due on Thursday next, at nine p.m. The final payments and draw for the Easter Cup, to be run off at Plumpton Park on Saturday next, will take place at nine o'clock to-morrow evening at the Queen's Ferry Hotel, Vulcan Laue. Final payments for the trotting match and acceptances will also be received at the same time*