27

I.—4a

301. On the 12th February at the meeting of directors when that resolution was passed Mr. and Mrs. Cook owed the sixth call ? —Yes. 302. But they have paid something since that date ? —Yes ; they have made a payment of £275. 303. Would that cover the whole of the sixth call ?—No ; it would leave them still owing the sixth, seventh, and eighth —three calls. 304. What is the amount of a call upon the number of shares they hold ?—£so each. 305. Then, the £275 would pay several calls ? —Yes ; it would cover the second, third, fourth, and fifth calls. 306. Then, at the time the resolution was passed Mr. and Mrs. Cook owed upon all the calls then made, in addition to the sixth ?—Yes. 307. And that £275 simply liquidated calls prior to the sixth ? —That is so. 308. Mr. Herries.] I see that you signed the agreement between Cook and the company for Cook ?—Yes. 309. Had you a power of attorney ?—No ; I was only the manager for him. 310. Why did you adopt a different process in connection with this company from that in connection with the Tucker Flat Company ; why did you not let Cook sign it himself ? —I really cannot tell you that, except that Cook was probably away at the time. 311. But the agreement in connection with the Tucker Flat Company was signed by Mr. Cook when he was away in Auckland ?—Yes. 312. Then, why did you not send this document to him to be signed, as well as the Tucker Flat agreement ? —I cannot say. 313. Do you consider that this agreement is worth anything, as it is signed by you when you had not a power of attorney ?—The company's solicitor would be responsible for that. 314. I see the name Harold Howes on the register ?—That is a son of Mr. Howes. 315. Does he still owe anything?— Yes ; he is one who has been sued. 316. Has he anything to do with Cook and Gray? —No; nothing whatever to do with the firm. 317. Has he been sued ?—Yes ; and confessed judgment. 318. Has he paid?— No. 319. Have any of these people who have been sued paid?— Yes ; some of them. 320. Of their own accord, or did you take steps to enforce it ? —ln some cases they paid at the very last moment before the date of hearing; and others would have paid to the solicitor after judgment being obtained. 321. Why did you enforce judgment against some and not against others?— Some of them would pay so-much on account, and ask for a withdrawal of the summons, which would be agreed to. 322. Do you think that you can get the money from William and Harold Howes ? —Yes. 323. Why have you not taken steps to get it ?—The judgment was obtained through a solicitor, and it is for him to bring the money in. 324. Were any instructions sent by the directors to discriminate between the people sued ?— None whatever. 325. Is Mr. Howes a director of this company ? —No. 326. Who were the directors ? —Mr. Wales, Dr. Martin, Mr. Martin Pearce, and Mr. Parfitt is the local director on the Coast. 327. Was Mr. Cook a director?—He was, but has not been for some time. 328. Was he one of the original directors ?—Yes ; he was elected at the first meeting. 329. The same thing applies to this company as to the Tucker Flat Company—that the office was in Cook and Gray's, you were secretary, &c. ?—Yes, the same thing applies. 330. Did Cook receive any directors' fees during the time he was a director ?—I think so ; he would receive for the period he was a director. 331. You do not know how much ?—No, I cannot say, but I think some £7 is all he got. 332. That was paid into Cook and Gray's account, I suppose?— Yes. 332 a. How much has been paid in on behalf of the secretarial fees, including rent ?—The balance-sheet will show that up to the end of the financial year the secretarial fees were £75 per annum —the same as the Tucker Flat Company—that sum including office-rent. 333. The vendors' shares were allotted in this company? —Yes. 334. When were they allotted —at the first meeting? —No; not till the 28th August, 1900. 335. Who were they allotted to ?—W. B. Cook, 1,000; Goldsworthy, 280; George Parfitt, 100; W. H. Parfitt, 100'; Clement Parfitt, 920 ; Timothy Mullins, 200 : total, 2,600. 336. Have any of those vendors' shares been sold ?—Parfitt has sold forty, and Mullins has transferred 200 to his wife. 337. How many of those shares does Mr. Cook hold now ?—- The lot. 338. What were those shares that were sold sold at ?—I cannot say; the transfer-book will show the consideration. 339. Do you not know of your own knowledge ?—No. 340. Do you think the vendors' shares are worth anything now ?—Yes; mine were contributing shares, and I sold them at a profit of 6d. each. 341. How long ago was that ? —The 22nd January or the 22nd February; lam not sure which. 342. Are the shares quoted in the market now?—l do not think they have been quoted lately. 343. They have a saleable value ?—Yes. 344. What is the position of the company ; has the dredge been ordered ?—Yes, the contract has been let. 345. When is it to be completed ? —I think the time has expired according to the original