FREEZING COMPANY DISPUTE

Taranaki Daily News, 20 December 1932, Page 5

FREEZING COMPANY DISPUTE

RESIGNATION OF DIRECTOR. STATEMENT BY THE CHAIRMAN. By Telegraph.—Press Association. Christchurch, Last Night. Mr. John Montgomery has resigned his seat on the directorate of the Nev/ Zealand Refrigerating Company. In making this announcement the chairman of directors, Mr. H. A. Knight, stated that Mr. Montgomery’s resignation had been tendered in direct opposition to his (Mr. Knight’s) wishes. He said that having regard to recent criticisms he was willing to tender his own resignation at any moment, leaving it to the shareholders to say whether he should take any further part in the administration of the company. He felt, however, that the immediate and most vital factor to be con-sidered-by the directors was the effective carrying on of the company’s business. At the annual meeting the shareholders would be given an opportunity of signifying their wishes as to future constitution of the board, but in the meantime Mr. Knight considered it the duty of himself and the other members of the board to remain in office. Mr. Knight added that Mr. Tripp’s resignation, announced at a recent extraordinary meeting of shareholders, was tendered after discussion and with his (Mr. Knight’s) approval