Shareholders Of Shipping Company Express Concern

Wanganui Chronicle, 1 July 1948, Page 6

Shareholders Of Shipping Company Express Concern

(P.A.) Auckland, June 30. Dissatisfaction with the state of the company’s affairs and apprehen- | sion as to its future were expressed by shareholders of the Northern Steamship Company, Ltd., at a crowded and lengthy annual meeting. The election of directors resulted in the defeat of one of the three retiring directors while a new director was elected to fill the vacancy on the board The decision was reached at a record poll of shareholders. The retiring directors were Messrs. E. Anderson, G. S. Poole and H. M. Rogerson. For these three vacancies and one other caused by the death of Mr. A. J. Hutchinson, additional nominations were Messrs T. C. Webster, V. C. Bedford and A. R. Thompson. The ballot resulted in the return of Messrs H. M. Rogerson, T. C. Webster, A. R. Thompson and G. S. Poole. The meeting also decided that a balance-sheet should he brought down in six months and that In the interim the directors should carry on the company as a going concern. It was explained that, this would not restrict the company’s freedom of action in the purchase of any new vessels.