PATEA NOTES

Wanganui Chronicle, Volume LXXXII, Issue 19208, 10 January 1925, Page 2

PATEA NOTES

(From Our Own Correspondent.) The first annual meeting of the Patea District Meat Company, Ltd. was held at the office of the Patea farmers’ Freezing Co. on Friday last. Tiie chairman, Air. C. Dickie, presided. The statement of accounts for period ended November 30, 1924, was presented, with the auditor’s report for same period. In moving the adoption of the auditor’s report and statement of aecuunls mo chairman stateu inai tne uiiecioro had necided not to start operations mis year, but to hand over the contract to the Patea Farmers’ breezing Co., and advance to that company any snare capital it received, auu any obtained against store warrants. At the first meeting of shareholders it was freely staled that it was not a fair thing to expect the directors to sign a joint and several and carry the whole burden of the company. However, he was glad to say that the directors had taken upon themselves tho responsibitiiy, anil had arranged an advance against the uncalled capital. Ho thought that everything pointed to a fairly good year, and formally moved the adoption of the statement of accounts aud the auditor’s report. 'The motion was seconded, and carried without dissent. On the motion of Mr. K. W. Hamerton, seconded by Mr, N. Glenning, the retiring director and auditor were unanimously re-elected. The annual meeting then adjourned. An extraordinary general meeting of the Patea District Meat Company, Ltd. was held on Friday January ‘J, 192 5, immediately after the close of the nrst general meeting. The business was io confirm the following resolution passed at the first statutory meeting of the company held on Friday, December -9, 1924:—“That upon any offer of shares to the public for eubseripiiou, the company may pay commission of not more than 2J per cent, on the nominal amount of the shares already allotted and a commission of not more than 5 per cent, on the nominal amount of any shares that may be allotted after November 30, 1924, in pursuance of tho powers in that behalf expressly conferred by the Companies Act, 1908.” The resolution was confirmed, on the motion of the chairman and seconded by Mr. A. T. Christensen. The meeting then adjourned.