COMBINED BUYERS (LTD.).

Otago Daily Times, Issue 19527, 9 July 1925, Page 11

COMBINED BUYERS (LTD.).

SOUTH ISLAND SHAREHOLDERS. THREE RESOLUTIONS PASSED. (Peb United Pbess Association.! CHRISTCHURCH, July 8. The unofficial meeting of shareholders of Combined Buyers (Ltd.), representing South Island interests, was held to-day, IS being present. The three following motions were carried unanimously;— “That this meeting protests against the action of the preference directors, with the assistance of T. Taylor, in proposing to appoint three joint managers (Messrs T. Taylor, L. P. Wallis, and E. H. Watts) at £IOOO a year each, as being extravagant and unnecessary, and that such addon is detrimental to the interest of shareholders.” “That this meeting claims that the South Island shareholders arc entitled to direct representation on the Board of Directors, and hopes that ouc, if not both of the new directors may be chosen from the southern shareholders.” “That this meeting emphatically declares the necessity of getting rid of the incubus of the preference shareholders’ privileges at once, and failing this object, the company go into liquidation." It was decided that if it becomes necessary for the company to go into liquidation that the present shareholders should take stops to reorganise it.