ROTORUA FLAX LANDS.
SUPREME COURT CASE. DIFFICULTIES OVER SCHEME. [liV TELEGRAPH. OWN CORRESPONDENT.] DUXEDJX. Saturday. A case brought in the form of an originating summons to obtain solution of certain difficulties thni had arisen in connection with the carrying out of the scheme for the development of certain flax lands near Rotorua, was heard in the Supreme ( ourt before Mr. Justice Kennedy. The plaintiffs were Leslie Knox Munro, solicitor, of Auckland, and llenrv Walter Shove, accountant, oi Auckland, the defendants being New Zealand Flax Securities, Limited. Dnnedin. It was explained that the intentions of the documents were obscure. A company was formed in July. 1928. with 14 .shareholders. 733 acres of land being acquired for approximately £SSCO. and an issug of 1466 bonds was made. Ihe whole of the bonds were offered at C 25 each, and they had not been disposed of, though the majority had been pair! up in fuii. Ihe deed of trust container! a provision which gavcthe trustees the choice of either u>tit wiling llie milling of the (lax themselves or of allowing the company to do the milling on a royalty basis. The case was adjourned till Wednesday.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZH19320620.2.127
Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21213, 20 June 1932, Page 11
Word Count
193ROTORUA FLAX LANDS. New Zealand Herald, Volume LXIX, Issue 21213, 20 June 1932, Page 11
Using This Item
NZME is the copyright owner for the New Zealand Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries and NZME.