PAYMENT OF CALLS.
A MINING CASE. [Per Press Associaton.] DUNEDIN, June 15
The Lady Roxburgh Gold-dredging Company sued a shareholder for unpaid calls. The defendant's plea was that a certain director had 'not properly paid his calls, therefore, th|> defendant could not be compelled to pay in accordance with Section 5 of the Companies Act. The director in question deposed that he instructed the secretary to credit his call account with £3 3s due to him for fees, and that he paid the balance by cheque. The Magistrate (Mr Carew) held that no proper provision having been made by the shareholders for their remuneration after the reduction of their number, the directors had no authority to vote themselves ./fees. Therefore, the director could not pay £3 3s in the manner stated, and he had not paid his calls on the date of issue of the proceedings. The plaintiffs were non-suited.
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https://paperspast.natlib.govt.nz/newspapers/TS19030615.2.47
Bibliographic details
Star (Christchurch), Issue 7731, 15 June 1903, Page 3
Word Count
150PAYMENT OF CALLS. Star (Christchurch), Issue 7731, 15 June 1903, Page 3
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