BELMONT LAND CO.
APPLICATION TO WIND IT UP. (By Telegraph.—Press Association.) Auckland, June 5. Application was made at the Suiprcmo Court to-day, before Mr. Justice Cooper, for an order for winding up the Belmont Land Company, which was formed in 15107, with a capital of i'lo,ooo, ill 21) shares, for the purposo of purchasing an estate of over !)l>o acres at Belmont, in the llutt Valley. The land was to bo cut up and fold. "The application was mad'? by Mr. Ziinan on behalf of one of the shareholders, and Jlr. 15. W. Burton appeared for the. company to object. Mr. ziman said that the estate had wen purchased at a cost of .£211,000, which worked out at about .£2O pa- acre, and there was now some talk of selling the land for £Vd per acre. Counsel gave figures which, he said, proved that the company could not pay its debt?, and he contended that it should bo wound up. Mr. Burton said that the shareholders wore also creditors, and they washed thnv no order .should be made, pending the result of certain negotiations for this disposal of the property. His Honour reserved decision.
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Dominion, Volume 6, Issue 1769, 6 June 1913, Page 4
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194BELMONT LAND CO. Dominion, Volume 6, Issue 1769, 6 June 1913, Page 4
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