PETROL COMPANY

Otago Daily Times, Issue 22891, 27 May 1936, Page 6

PETROL COMPANY

ELECTION OF DIRECTORS INTERESTS OF PREFERENCE SHAREHOLDERS (Per Uwtep Press Association)

WELLINGTON, May 2d. The result of Tuesday's poll for. the election of two direqtora to represent the preferenee shareholders on the directorate of the Associated Motorists' Petrol Company was declared to-day by the ohairman. Mr Charles Todd, in the presence of « small attendance, Messrs W. A. O'Callaghan and V. W. Johnston were reelected- The votes cast were:—OCallaghan 07,834, Johnston 57,719, James M'lDtosb 40,402, W. M King 40,307. Mr Todd eaid that if all the questioned votes and proxies in favour of the elected candidates were rejected, and »" the questioned votes in favour of the other candidates allowed, the voting would still *tand in favour of Messrs O'Callaghan and Johnston. He congratulated them on what he called their victory. It had been a hard fight, and things had been said whloh in cooler moments mignt not have been said. After the fight came peace, and it was to be hoped that the peace would be conducive of the best interests of the company. After congratulating Messrs OCallaghnn and Johnston on their election, Wr M'lntosh intimated that the committee set up by the preference shareholders met week was going to continue in being. Whethor the committee would require to have som* dlfferont standing by way of representation had not yet been decided, but if that was thought necessary appropriate stens would bo taken so that the committee might have standing in any negotiations with the company. ho tar as ho was aware, whatever action had been taken had not been done without recognising the valuable work the company had done for the motoring punnc; and no desiro had ever been evinced that the action should be destructive "J the success of tho company. He would be very sorry indeed to see the company suffer as the result of whatever action mignt have been taken.