WELLINGTON CITY TRAMWAY COMPANY.

New Zealand Mail, Issue 421, 6 March 1880, Page 22

WELLINGTON CITY TRAMWAY COMPANY.

An extraordinary general meeting of the above company was held in No. 4 Room, AtheJsum, on Friday, Feb. 27, the Hon Dr. Grace in the chair. There was a moderate attendance of shareholders meet in<* The Chairman explained that the meetm 0 was simply called for the purpose of confirming a resolution carried at a special meeting last month, to the effect that the company be wound up. The shareholders would know the reasons for this action becoming necessary, from the explanations previously made to them. He would, therefore, not detain them, but would call upon the secretary to read the notice convening the meeting. Mr. Sisley having read the notice, __ Mr. E. W. Mills moved the following resolution -.—That the resolution passed at the Extraordinary General Meeting of the shareholders of the Wellington City Tramways Company (Limited), duly convened and held at the Wellington Athenaeum, on Friday, the 9th day of January, 1880, that the Wellington City Tramways Company (Limited) be wound up voluntarily in accordance with the provisions of the Joint Stocn Companies Act, 1860, and the amendments thereto, be confirmed. EIVER seconded the motion. A Shareholder, who was not present at the previous meeting, asked for the reasons for winding up the company. The Chairman made an explanation to the effect that in consequence of some of the shareholders making a difficulty, the company had failed to meet its pecuniary liabilities, which had been made good at his expense. Upon the value of the property becoming demonstrated, an appeal had been made to the shareholders to pay up their calls. bufc Payment had been resisted by litigation, and a claim against the company of £3OOO became due, for which the money was not forthcoming. Everything had been stated to the creators at a meeting, and it had been reso ve liquidate the concern rather than be forced into insolvency. He had done his best to do something for the shareholders, and he might state that he had already heard of two probable offers of purchase. . The motion was then put and carried unanimously. Mr. J. F. E. WRIGHT moved that the_ present secretary, Mr. Sisley, be appointed Travers seconded the motion, and suggested that Mr. Sisley’s remuneration as liquidator be the same as at present. The suggestion was adopted, and the motion was then carried. . This terminated the business, .the chairman thanking the shareholders for their attendance.