A COMPANY IN DISTRESS
Wellington , August 31. The annual meeting of the -dS-ated Water and Cordial Company, LlmitedJ took place last evening. The statement I of the Chairman ahowed the company to | be placed in a very peculiar position. Some little time ago the services of the Secretary and Manager (Mr L. Davis) were dispensed with, and although continually requested to hand over the boohs of the Company he had not done so. The Directors were consequently nnable to present a balance-sheet. The Chairman I sjdd that from enquiries he had been able to make it would appear that the ln-| debtedneas of the Company was about £16,000, and that the Company had be.en nearly mined from the fact that many of the shareholders were no more use j financially than dummies, and the opinion of the directors was that if the shareholders decided to carry on, the only mode open was to call up the balance, wind up the Company, and form a new cne of more moderate dimensions.—After some discussion, it was decided that' unless the books be handed over In 24 hours legal proceedings would be taken for their recovery. The meeting ad journed for a week.
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https://paperspast.natlib.govt.nz/newspapers/AG18860831.2.18
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Ashburton Guardian, Volume V, Issue 1329, 31 August 1886, Page 3
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200A COMPANY IN DISTRESS Ashburton Guardian, Volume V, Issue 1329, 31 August 1886, Page 3
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