NATIONAL INSURANCE COMPANY.

Otago Daily Times, Issue 7653, 28 August 1886, Page 3

NATIONAL INSURANCE COMPANY.

TO the editor.

Sin, —In to-day's Times "A Shareholder" suggests that others than directors should he entrusted with proxies from those who cannot be present at general meetings. This is, I think, a very sensible suggestion, as the custom hitherto common of giving directors overwhelming voting power by means of proxies has beeu decidedly prejudicial to the interests of the company. Whilst I am convinced a further change in the directory is very desirable, 1 do not think with your correspondent that a pledge to pay dividends under any circumstances would be a sufficient qualification for n director. There may be good grounds for not paying a dividend even at next meeting; but if the directors cannot this time show a sufficient proGt, then it appears to me that one of two things should be done, and that speedily—either wind up the company and divide the proceeds, or restrict its operations within manageable limits and reduce the capital to its original amount by returning, say, onehalf to the shareholders. —I am, kc,

Another Shareiioldisi!,

Dunedin, August 2G,

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