EQUITABLE INSURANCE ASSOCIATION.

New Zealand Mail, Issue 978, 28 November 1890, Page 32

EQUITABLE INSURANCE ASSOCIATION.

Dunedin, November 24. An extraordinary general meeting of the Equitable Insurance Association was commenced this afternoon to ratify,, validate, and confirm payments and remuneration received by the Directors since Maroh, 1884. Mr J. B, Callao, who presided, explained that he was not on the directorate when the change wns made. This took place at the first annual meeting, when two shareholders who were not Directors then proposed a resolution altering the clause of the articles of association providing for increasing the remuneration from £3 10s to £7 per meeting. This was passed, but no notice hau bene sent out of it, hence the difficulty. “ Tsr r | body overlooked the matter, and tne minutes were confirmed next meeting. « was not till four or five months agotbst attention was called to it, and the Directors went back to the old scale, and no moreaie was proposed in the resolution. Along discussion followed.. An : addin was proposed to the resolution proviu ng that the Directors will conduct the attain of the Company without fees till Marep, 1892. The discussion on this and anitner amendment lasted till 6.30, when i * carried on a show of hands, but a ballo demanded and taken, and the me ® ,:l , n ß ‘ journed till the evening to allow of 1 suit of the ballot being known. , On the meeting of shareholder* of Equitable Insurance Association resnmieg. the voting was in favour of . l^ l6 ‘^ ra^. d tor 8 making the addition by which the Dir will carry on bnsiness till March, without fees, by 846 against. Mr Bevan, the West delegate, moved another amendmep , the solicitor decided it was not P et “ n , (k , r to the matter, and it was not receive . ; a long discussion, the resolution *■ * t w was carried. Mr Bevan lodged a p , the effect that the resolution was not »g and he threatened to bring the before the law courts.