TARANAKI OIL

Auckland Star, Volume XXXVII, Issue 259, 6 November 1906, Page 3

TARANAKI OIL

. . A circular has been issued by the directors of the Taranaki Petroleum Co.. which, after staling thai the adjournment of the meeting called for Wednesday was due tn the fact that Cue resignations oi' the di reel ol's had not been handed in a clear seven days, says that upon making tlie preparations for the meetin"' the directors found that the former secretary to the company (Mr P. Laing) hail obtained proxies which entitled him to upwards of 800 votes. It has been ascertained that these forms were obtained by Mr Laing 14 days before the company's official forms were I ordered. The secretary was instructed to forward the ollicinl forms in blank. Many of Mr Lung's forms were, however, filled in by him with his own name as the holder of the proxy, and bore the stamped endorsement: ""Kindly sign and return to the secretary. New Plymouth." Mr Laing. engagement with the company terminated at the statutory meeting, and then he offered himself for election as a director of the company. The directors consider that a large number ol sharenoluprs who TOtjPjjj powei whi-h was thereby given lOillio poii (i urn ii iirni tncicuj incn to on" in_ii-i<l<»iil- tl, r exercUr of w-Hic-h would undoubtedly have ruined the eleetU in llr Lung's favour, au_ fiat of to select.