North Canterbury Saleyards Company.

Star (Christchurch), Issue 5259, 15 May 1895, Page 1

North Canterbury Saleyards Company.

The adjourned annual meeting of the North Canterbury Saleyards Company was held at Rangiora yesterday aftirnoon. There was an attendance of about sixtyi Captain Parsons, Chairman of Dhectorß, presided. . '

The Chairman, in opening the. business, eaid that the present meeting was hald to consider the position of the company. He wished to correct a statement he had made at the last meeting, to the effect that there were 541 shareholders. The actual number of shareholders was 296, who held nearly 1500 shares. The present position of the company had been fully explained at the last meeting, and iv was for the shareholders to consider whac .ehould be done.

Mr J. Stalker Baid he objected as a director to be held liable for the expenses of working the yards ; and he considered that the shareholders should pat. their money down to free the companj from its liabilities. [ ■

MrW. Anderson proposed— " ?hab the yards be kept open providing shaieholders take up not less than ISO shares, md that this -meeting, in order to econom'sa, begs to ask the Directors to dispense vith the secretaryship during the present depression, and considers that the lirectorß should arrange with the eeveial auctioneers to pay the fees due at their (tbe Directors') ordinary monthly meting." The mover pointed out that th« money from ISO shares would pay off the bank liability and leave a surplus for inaidental expenses. By dispensing with- tie Secretary, the working expenses would be reduced to .£SO, and he believed that confidence would be restored, larget entries received, and the Directors enable! to pay a dividend. -

A long discussion ensued, and it was ultimately resdlved to act on the first part of Mr Anderson's motion, a show o'i hands deciding that the yards Bhould le kept open.

In response to an appeal for sham to be taken up, thirty-seven were applied for. The Chairman pointed out thai this number would noc relieve the Directors as desired. ■

Mr J. Douds moved a motion to tb? effect tbat each shareholder should guarantee the company a earn not exceeding 5i for one year, to assist the Directors in keeping the yards open.

The motion being carried, a guarantee form was drawn up, and most of those present signed it.

This concluded the business. i. At a meeting of the Directors, held afterwards, Mr B. W. Chapman was ejected chairman for the ensning year.