COMBINED BUYERS.

Pahiatua Herald, Volume XXXIII, Issue 9980, 10 July 1925, Page 7

COMBINED BUYERS.

A SOUTH ISLAND MEETING

Electric Telegraph—Press Association CHRISTCHURCH, July 8.

An unofficial meeting of shareholders of Combined Buyers, Ltd., representing South Island interests was held to-day, 18 being present. The three following motions Mere 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, f,. F. Wallis and E. H. Watts, at £IOOO a year each, as being extravagant and unnecessary, and that such action is detrimental to the interests of shareholders. That this meeting claims that South Island shareholder's are entitled to. direct representation on the hoard of directors, and ho,pcs that no. if not both, the new directors may ho chosen from southern shareholders. That this meeting emphatically declares the necessity of getting rid of the incubus cf the preference shareholders’ privileges at once and, failing this object, the company go into liquidation. Tt was decided that if it becomes necessary to go into liquidation the present shareholders should take steps to reorganise it.