WANGANUI FREEZING COMPANY

Stratford Evening Post, Volume XXXI, Issue 58, 23 October 1911, Page 5

WANGANUI FREEZING COMPANY

NEW MANAGEMENT DESIRED. (Per Press Association.) Wanganui, October 22. A special" general meeting of the Wanganui breezing Company was held on Saturday afternoon to consider the following notice of motion: •‘That provided a purchaser can be found tor the company’s assets as a going concern at a price which, after providing for all liaoilities, will produce a sum sufficient to return to the sixvreholdors at least the par value of their shares, the shareholders consider such sale desirable, and authorise same.” After a long meeting, the motion was carried by a mapority of over 200 votes. An amendment was carried “That with the exception of the chairman, Alfred Burnett and G. S. Robertson (who is’Nelson Bros.’ representative), the board of directors resign immediately, and that Messrs. Henry Corn foot, R. E. Beckett, Allan Robinson, and C. L. Duigan he appointed to the board.” ' The meeting then adjourned to a date to be fixed, when the resolution will be submitted for confirmation. It is possible that the remaining directors will also resign, in which case a deadlock will occur, as the articles of association do not provide for the appointment of new directors, save by the board, of which three are necessary to form a quorum. The promoters of the meeting are fully satisfied with the soundness of the company, but are dissatisfied with the management.