DAISY COMPANY'S AFFAIRS.

New Zealand Herald, Volume LXIII, Issue 19486, 16 November 1926, Page 15

DAISY COMPANY'S AFFAIRS.

"DRY" SHARE? RESUMPTION. BRUNTWOOD CONCERN'S SCHEME. R fc [BT UXEGRAPH.—-OYW CORBEBPONDENT. ] HAMILTON. Mend By. A special general meeting of the shareholders of the Bruntwood Co-op. Dairy Company was held in the Bautapu Hall, the chairman, Mr. H. J. Ambury, presiding over a fairly good attendance. The principal feature of tha agenda paper was the important question to dairy companies of "dry" shares resumption. As a result of a direction from the last annual meeting a schema for this purpose was submitted to the shareholders and adopted almost unanimously. The chairman said he regretted that the "dry"t shareholder* were practically unrepresented at the meeting, in spite of the fact that a personal letter fully explaining the intention of the scheme and stating the proposed resumption value, etc., was sent to each "dry" shareholder. The chairman read several letters from "dry" shareholders intimating the value they placed on their shares, which varied from 7s 6d upwards. -Mr. Ambury said he considered it safe to assume that, considering the "dry" shareholders were to be released from the bank guarantee, tbey realised that the suppliers were anxious to settle the matter amicably to stabilise the whole concern. It now "rested with the meeting to fix a fair resumption value. He was sure the suppliers did not wish to take advantage of the "dry" shareholders' absence. He considered the value of 12s a fair one. The chairman moved: "That in future no interest be paid on paid up capital and that a sum not exceeding £3OO per annum be set aside for the resumption of *drv v shares at 12s per share." The motion was carried.