GUNTON'S BEACH AMALGAMATED GOLD DREDGING COMPANY.

Otago Witness, Issue 2524, 30 July 1902, Page 25

GUNTON'S BEACH AMALGAMATED GOLD DREDGING COMPANY.

An extraordinary general meeting of shareholders in. the Gunton's Beach Amalgamated G.D. Company was held on Friday for the purnose of considering the advisability of going into voluntary liquidation. Thpre were 15 shareholders present, and Mr J. P. Lane pieBidod.

The Chairman moved the following resolut.on- — "That it has been proved to the satisfaction of tins meeting that the company connot, by reason of its liabilities, continue its business, and that it xs advisable to wind up the same, and accordingly that the company be wound up voluntarily."

The rr.otion was seconded by Mr W M'Farlane and carried.

On the motion oi the Chairman, seconded by Mr Palmer, Mr S. T. Mirams was appointed liquidator; and on th^ motion of Mr H. White, seconded by Mr J. M'Far'ene, his remurerat:on was fixed at 30 guineas.

In reply to a question as to what the principal cause of the company going into liquidation, the Chairman stated that the directors had tried \ory hard \u pull the company through, but weie unable to do so. Messrs Knewstubb Bros., the contractors for the construction < f the pontoons, had met them very fairly, but Mr "Roberts had practically forced them into liquidation by refusing to meet them in the matter of commission. They had paid the engineer ±'100.

In reply to further qiiesUor>s, the Chairman stilted thut there was about £140 m hand The only asset they had v.as the dredge, winch was mortgaged to Messrs Knewstubb Broß.

This concluded the business, and the meeting dispersed.