MEETING OF A LIMITED LIABILITY CO. IN LAWRENCE.

Tuapeka Times, Volume IX, Issue 607, 11 October 1876, Page 2

MEETING OF A LIMITED LIABILITY CO. IN LAWRENCE.

(Communicated?)' Held at a few minutes' notice, when the following directors attended : — Messrs. A. B, C, and D. Mr. B proposed Mr. A for the chair (no seconder.) Mr. D then entered the room, and also proposed Mr. A, but was immediately informed by the Secretary that Mr. A -was already m the chair. He replied, "All right." Mr. C suggested that the directors should take off their hats and pay due respect to the chair. The Chairman replied, "It does not matter ; you can keep on your hats or smoke if you like, for I am going to enjoy my pipe." Agreed to. The minutes were then read by the Secretary, and it was duly proposed that they be confirmed. (No seconder.) Signed by the Chairman. A letter asking for a rise in the manager's screw was duly held over till next meeting. Next business: account read and passed without a murmur. Manager's report read and received. Financial report read and received. The Chairman asked twice if there was any other business ; all silence for some time, when Mr.fC. got upjand proposed a vole of thanks to the chair ; and just as he got his hat to go, Mr. B proposed that the account be changed from the Bauk of New South Wales to the Colonial Bank. Mr. D immediately enquired, " On what grounds do you propose it ? " " Because lam a shareholder." Mr. D then stated, "If that is the case I shall second it." The Chairman then stated to Mr. C, " You are all shareholders, and I suppose you have no objections."" Mr. C replied, " Certainly I bare ; and I stall profcesb against any account being changed from one bank to another on such frivolous grounds." The Chairman ordered the Secretary, to register Mr. C's protest, who objected, and stated that he would request his protest to be recorded at the proper time, and proposed an amendment, "That the account be not changed," and stated although a small shareholder, he would not support it, unless some tangible reason was given for so doing, and at the same time, as there was only three directors besides the Chairman present, he would still move the amendment so as to give the Chairman an opportunity of seconding if he so desired, thus taking advantage of the Chairman's voting power under the Act. The Chairman replied that he was not aware that he could second a motion ; if he could his sympathies were in favor of removing the account. He then put the proposition which resulted, as might have been expected, in 2 hands up against 1. He then put the amendment — 1 for it ; but he remarked as there was no seconder he had no occasion to put it. Mr. C. requested that his protest be now recorded, which was done, and stated that no one in business would think of moving his account without a cause, and stated if the directory had any reason for so doing, he would be one of the first to have the account removed. Some very hot remarks were now indulged in, to the amusement of Mr. C. who stated that he heard that changing the account was the principal object for calling the meeting. A vote of thanks terminated the pleasant meeting of directors, who all adjourned to soothe their troubles over the cup that cheers.