City and Suburban Tramway Company.

Star (Christchurch), Issue 5349, 29 August 1895, Page 1

City and Suburban Tramway Company.

Att extraordinary meeting of the bhareholders of the City and Suburban Tramway Company was held yesterday afternoon. Eleven shareholders were present. Mr W. Thomson, Chairman of Directors, presided, and said that the Directors had sent round a circular to the shareholders, asking if they would take up shares so aB to enable the Directora to close with Mr Brightling's offer in respeot to the company's liability to him. The present meeting had been called for the purpose of ascertaining how mauy shareholders would take np the balance, about 1000 shares, of the 2000 required. The Directors would take up 1000 provided the otber shareholders would take the balance. If that waß done they could go on. Since the circular had been issued seventy-five shares hnd been taken up. In reply to Mr Swarm, the Chairman said that tbe shareholders had not been canvassed, ex .ept by the circular. If each shareholder would take up fifteen or sixteen shares, tbe number wanted would be taken up. A call of 2s 6 d per | | share per month would meet the payments which required to be made. Mr W. Beece suggested that the shareholders should be seen personally in regard to the matter. Otherwise they would have to throw over the line. The Chairman said that if the company went into liquidation, a few of them were prepared to form a syndicate to take over the line, Mr Beece moved— "That a letter be sent to eaoh shareholder, pointing out the urgency of the situation, and asking for a reply within soven daya." Mr Moor ssconded the motion, Whiph was carried, and the meeting closed;