COMPANY DIRECTORS' FEES

Taranaki Daily News, 21 June 1928, Page 8

COMPANY DIRECTORS' FEES

PROPOSED INCREASE NEGATIVED,

(By Wire —Special to News.) Auckland, Last Night. "If you want a cheap director, I’m here.” He was a thick set gentleman with a florid countenance, and as a shareholder at to-day’s annual meeting of the Farmers’ Trading Company he objected to a proposal that the directors’ fees should be increased from £lOO

to £l5O per annum. Proceeding, he vigorously declaimed, “My shares were knocked down two-thirds, and now •we’re asked to pay the directors more. I’m prepared to act for nothing.” No steps were taken to accept his offer, but meanwhile another shareholder chimed in with the remark that during the lean years “the directors took their money and we got nothing.” Yet another sought to turn the searchlight of 'publicity on to the ways of directors, alleging that attendance records showed that often only five attended out of a possible nine. Despite the presentation of a statement by the chairman of directors that the past year had been "the best yet,” and an address by Mr. Robert Laidlaw that directors of a concern with a turnover exceeding £1,000,000 per annum , should be better paid, the meeting refused to increase the present remuneration.