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263. What are the total arrears owing to date ? —I have not the call-book with me ; but, speaking roughly, about £2,800, I think. 264. Has there been any mention of liquidation of the company ? —No ; no such request has been made. 265. Do you consider the financial affairs of the company are in a satisfactory or healthy condition ?—I think they are —if we can get the calls in. 266. Do you think Mace is a man likely to pay up his calls ?—He can, I think, with assistance. 267. Is he looking to Mr. Cook for any assistance ?—I cannot say. 268. Has the money that has been received on Mr. Mace's shares come from him, himself— has he always paid by cheque? —I really cannot tell you how he has paid. 269. All that he has paid has been the application-money ? —Yes. 270. Who paid that cheque in?—l cannot say from memory. 271. Have you any means of ascertaining?— Yes; there are means of ascertaining. 272. Would the bank-book show it ?—lt would not show whose cheque it was. 273. To the best of your knowledge; did Mace pay that money himself? —It is a long time ago, and he was not in Dunedin at the time the application-money was paid in to the brokers. I cannot say whose cheque it was paid by. 274. Is Mr. Mace a capitalist ?—I could not express any opinion. 275. You know nothing of his financial affairs ?—Not sufficient to give an opinion. 276. You think, then, he is good to pay up the balance ?—He might with assistance ; I do not think he can with his own means at the present time. 277. There is a writ out against him?— Yes. 278. Has he met it ?—So far he has not paid it. 279. Has execution been levied on him ? —No; his solicitors are trying to arrange matters with the directors. 280. Has judgment been obtained ? —No, I think not. 281. But judgment has been obtained against a good many of the shareholders?— They were taken to a different Court altogether. 282. Mr. Herries.] Have you got the share register there ?—Yes. 283. Were all those people who subscribed the articles shareholders ? —Yes ; all on the sharelist. 284. Have the calls been levied on every one of the shareholders?— Yes. 285. Mr. W. Fraser.] I presume these summonses and writs were taken out in consequence of certain instructions from the directors ?—Yes. 286. What were the instructions? Will you read them out?—l will: "Besolved, That all shareholders owing more than two calls be sued, and that the secretary prepare accounts and instruct the company's solicitor to sue at once for all calls due." 287. Then, by this resolution the directors determined that the names of all persons in arrears with calls should be sent to the solicitor to sue at once ? —All in arrear up to the sixth call. 288. No; the resolution says that " all shareholders whose calls are in arrears, and have been duly notified, their names be handed to the company's solicitor, with instructions to sue at once, including the sixth call "? —There were two more calls struck, then. 289. That is to say, all calls up to the sixth; and therefore any one who had paid up to the sixth was not included in this resolution? —That is so. 290. How many calls have been made ? —Eight. 291. You stated just now, in answer to Mr. Easton, that Mr. and Mrs. Cook and certain other persons owed calls upon their shares ?—Yes. 292. Do they owe anything up to the sixth call ?—Yes ; they owe the sixth call now— the sixth, seventh, and eighth call. 293. Do you consider, then, that they came under the scope of this resolution ?—Strictly speaking, I think they did; but I would like to explain. Mr. Cook had been duly notified about this, and he interviewed the directors, and they agreed not to summon under six calls, as far as I understand. He is only owing three calls, and it would mean suing him for one call in order to bring him into line with the others. 294. Where is the evidence of that?— There is none that I can see; the minute is the only evidence relating to it. 295. I want to know how it comes that after this resolution was passed by the directors certain persons are sued and others are not: is there any authority for it? There may be some private arrangement ; if so, I presume there is some record of it?—No, there is not. 296. Then, by the minutes of the company, all the parties who had not paid the sixth call ought to have been sued ?—Yes. 297. The Chairman.] The minute is dated 12th February of this year?— Yes; there is mention at a subsequent meeting on the 26th February of returned drafts. I may mention in this connection that I had notified some of the shareholders who lived at a distance that I would draw on them at a certain date, and I drew on them accordingly. 298. Mr. W. Eraser.] Can you answer this question: Has Mr. Cook on behalf of himself, or Mrs. Cook, paid the sixth call since that date ?—No ;it is still owing according to the register; but it was resolved that legal proceedings be deferred for ten days, so there was apparently considerable delay in issuing the summonses. 299. I thought perhaps you had drawn on them and the draft had not been paid ?—No. 300. Has any money been paid since the date of the minute, on account of Mr. and Mrs. Cook's liabilities?— Yes.