MOTION DEFEATED

Stratford Evening Post, Volume IV, Issue 223, 1 September 1936, Page 5

MOTION DEFEATED

FEWER DIRECTORS. Cardiff Resolution Lost By Insufficient Majority. _— j % FROM NINE TO SEVEN. \ Solely for leasons or economy, Mr 'J'. !.'. Perry mo;ed a reduction in! the number of directors at 'be annual meeting of (he Cardiff Co-op. Dairy co., Ltd., test night. The motion, after au amendment was defeated. Mr Perry argued that bigcer factor- , ies, with larger outputs than Cardiff managed to conduct their affairs with a smaller directorate. Mr C. A Marchant, the chairman, Ftated that j,he procedure was difficult, but from a legal ;;; acupoint, it was taken for gram-d that the axe would fall on llic retiring directors. If the < i otion . t a>-re cavrieu, added Mr Marchant, the directors were prepared to resign and.to have five re-elect, e-d from their number. "I hope that ibis matter will , be set at rest," said Mr Marchant. Every vcar, for the past four years the matter came up and it was, to some degree, disturbing to the directors. As a special motion to alter the company's articles, it had to be carried! l:y a three-fourths majority. The motion had been discussed by other companies in Taranaki and alt bad been inclined to let the matter rest. , ?j*

He was not anxious to seo the number on the board reduced, said Mr tf> J. Marchant. Personally, he had always been against a reduction. An amendment that the number of directors be reduced from nine to] seven, was moved by Mr P. Horn. Mr Horn's amendment was seconded by' Mr L. Wickham. The chairman t;;iid the only way to arrive at a decision was to' put the amendment first . This, to be carried, by a bare majority, would be taken as an indication that the shareholders were agreeable to have the word "seven'-' substituted for "five" in the) motion. However, to ■ alter.'..the rarttcles of association, the motion would have to he carried by a three-fourth 3 majority. i The amendment, was carried., - i The motion, the context cf which, lifter the amendment had been carried, was, "That the number of directors be :reduced from nine, to seven" was defected, - as it did not obtain the necessary majority. Messrs D. Brunton, D. Shannon, and J. Stewart, the retiring dierctors, were re-elect*! unopposed. Mr Harry; Clemow was elected to fill the vacancy caused by" the resignation of Mr C. H. Clemow, '-,.