A LIVELY MEETING.

New Zealand Herald, Volume XLVI, Issue 14219, 16 November 1909, Page 6

A LIVELY MEETING.

TARANATQ PETROLEUM COMPANY.

[BY telegraph.—own correspondent.]

New Plymouth, Monday. The annual general meeting of shareholders in the Taranaki Petroleum Company was held this afternoon. About 120 shareholders were present, and Dr. Prendergast Knight presided. A scene took place when the chairman, putting the motion for the adoption of the report and balance-sheet, caught the meeting napping, and announced it carried, when a section of the meeting had determined not to let it go through. The chairman was taunted with cowardice when he refused to submit the motion again, but he stuck to his guns. Thereupon Mr. J. Elwin, whose nomination for the directorate was to receive the whole support of Mr. Berry, ex-chairman of directors, and his thousand odd proxies, moved, "That no further business be taken till the dispute had been settled."

Mr. P. Kingswell moved an adjournment till January 25. He said he was not going to allow the company to become a one-man show, which would be the outcome of supporting Mr. Berry and his friends. Mr. C. Bellringer, deputy-chairman of the company, said Mr. Berry was bound in honour to pay over the deposit he had engaged to pay in regard to the No. 2 bore test, and until- he had done that he had no claim to a seat on the directorate.

After a very lively meeting, an adjournment was carried, the conditions attaching to the motion being that at the January meeting all the directors retire, the manager to leave the service at once. Mr. Simpson has retired accordingly, having given notice to terminate his engagement as from a couple of weeks hence.