Untitled

New Zealand Mail, Issue 1747, 30 August 1905, Page 30

At the Supreme Court at Dunedia on Saturday Mr Justice Williams gave judgment in the case of the Federal Portland Cement Company, a summons by the liquidators for direction as to distribution of assets. The facts were that the company had wound up voluntarily. The assets had been realised and debts paid, and the sum of £1469 Is 6d was in the hands of the liquids tors. The question was how this sum should be distributed amongst the different classes of shareholders. His Honor decided that there was only one fund to be divided. That fund, so far as paid-up shareholders was concerned, was the amount now in the hands of the liquidators. They were entitled to a certain portion of it, and the other shareholders had also a right to a certain proportion of the same fund. Unless there were two funds, distribution must bo in proportion to the capital already paid up, and there was only one fund. On the recommendation of the Scenery Preservation Commissioners, a small section on the left bank of the- Manawatu river, in the Tahoraite district (Hawke’s Bay), has been reserved for scenic purposes. A block of twentyseven acres on the right bank of Catlin’s river, Otago, has been similarly set aside.