NEW ZEALAND AGRICULTURAL COMPANY.
LONDON". August 25,
Last Monday a special general meeting of the New' Zealand Agricultural Company was held «,t the Institute of Chartered Accountants, •ioorgate place, to consider a resolution for deducing the capital of the company from £55,675 to £5667, divided into Is shares, such reduction to be effected by retitraing to shareholders part of they: capital. The chair was
occupied by Mr J. G. Griffiths, who, in moving that the resolution be confirmed, said the position of affairs was practically the same as at the date of ihe last meeting, except that some additional assets had been received from New Zealand. It was the intention of the directors directly tho resolution was parsed, to apply for the authority of the oourt to distribute a further 9s per share. The shareholders would then ha-ve had returned to them 19s in respect of each £1 share. When the distribution had boen effected the directors would invest in first-class securities such a sum of money aa wc-itld be equivalejit to Is per share, that being the whole of the remaining capital, and any other funds which were received would be paid to the shareholders by way of dividends. The motion was seconded by Mr J. R. Whamond, and agreed to.
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Bibliographic details
Otago Witness, Issue 2691, 11 October 1905, Page 23
Word Count
212NEW ZEALAND AGRICULTURAL COMPANY. Otago Witness, Issue 2691, 11 October 1905, Page 23
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