N.Z. AND RIVER PLATE LAND MORTGAGE CO.

New Zealand Herald, Volume XXXI, Issue 9611, 8 September 1894, Page 6

N.Z. AND RIVER PLATE LAND MORTGAGE CO.

A meeting of shareholders in the New Zealand and River Plate Land Mortgage Company is called for ten o'clock to-day, ab the company's office, to consult with regard to the following letter, which it is proposed Bhall accompany proxies to be sent home by mail: — To the Directors of the New Zealand and River Plate Land Mortgage Company (Limited). Gentlemen, — We, the undersigned shareholders in the above company, in sending our proxies in favour of the new companv, have to express our wishes as follows 1. That the commendable caution proposed to be exercised in refraining from further investments in the Argentine, pending a decided improvement in the condition oi that country, should be supplemented by an undertaking not to make any increase until theshareholdershavegiven theirconsent thereto. 2. That in giving a mortgage over the uncalled capital, and a floating charge over the general assets to the debenture-holders, ii lower rate of interest proportioned to the security should be stipulated tor. 3. That in the event of there being a colonial register of shares, every facility shall be given for their transfer to the London register if desired. 4. That the limiting of the debenture stock to one-half of the subscribed capital, as in the present company, should be retained in the new company. This would mean £>00,000 debenture money, and £180,000 of shareholders' money, together with the probable profit on the realisation of assets (now so drastically written down), of, say £100,000, in all £780,000. 5. That in the new company such investments as those on the London list should be rigidly eschewed. 6. That while not desirous that our proxies should remain inoperative if effect cannot b? given to these views, yet should any voting take place on these points we wish our proxies to be used in their favour, and generally trust to the Board giving full weight lE© these our representations.