CARRICK RANGE WATER SUPPLY COMPANY.

Dunstan Times, Issue 514, 23 February 1872, Page 2

CARRICK RANGE WATER SUPPLY COMPANY.

• —o By request we re-print, in extenso, the followin') report, as published in the Cromwell Argus. In accordance" with an'advertisement a meeting‘of the shareholders inf the above Company was held in the Town Hall Cromwell, on Thursday afternoon last. There was a good attendance, and the Mayor (Mr. James Taylor) was voted to the chair. The Chairman, in opening the meeting, said that they had met for the purpose of considering the advisability of talking im mediate steps to have the Company registered, and also for the election of permanent directors. There were over 000 shaies taken up, 500 of which hadheen applied for within tbe past -week. The Interim Directors wore perfectly satisfied with this result, and were of opinion that the time had arrived when the Company should be registered, and permanent Directors and office-bearers should be appointed. They would be in a position to commence work in a fortnight, and the branch creeks between tbe saddle and Coal Creek could be brought in before winter- He would call on the Secretary to read the minutes of the various meetings of projectors. The Secretary (Mr. Smythios) having read the minutes of the projectors’ meetings and also of the meeting of the Provisional Directors, at which it was resolved to hold the meeting of shareholders, The Chairman said he wished to impress on the shareholders the necessity of'electing directors who would push the affair ahead. They did not want names as in the first instance but men who would do all in their power for the Company. The question as to whether the Company should be registered immediately or not was then opened by. Mr. Baird who considered they were premature in taking any steps in the matter until 1500 or 2000 shares had been taken up. Mr. Colclough did not agree with Mr. Baird. He thought that the time to register the Company had arrived. If the Company were registered that would be no reason why they should commence work before tbe requisite number of shares had bean taken up to enable them to do so. They would not spend more than they'would have to do if the Company lemained unregistered. He would’move—“That immediate stepsshouM be taken to have the Company registered. ” Mr. Goodger would second Mr. ColclougVs motion He felt confidant that the affair would be easily and successfully floated. Mr.' Traer did not agree with Mr. Colclough. He thought they were premature in taking steps to have the Company regisc 'red, and lie would propose as an amendment—“ That the Company bo not registered until 2000 shares are taken up.” Mr. Baird would second the amendment. If they had 1500 or shares taken up they would havet something tangible to work upon, but with only 900 they had really nothing. Mr Smythics thou -lit it would have a most injurious effect if it were resolved not to register the Company at present. It had bean advertised all over the Province that this meeting was to beheld for the purpose of taking steps to have the Company registered and if the intention was not carried out it would be believed by outsiders that the Company was a failure, and they would consequently ho backward m taking r.p shares. People in Dunedin could not bo expected to take up shares until the Company was registered. Mr. Stuart thought it would be extremely damaging to go on with the matter in a slow coach manner It they wanted the Company successfully floated they must go in as if they ment it, —have the Company registered and not be frightened of their pockets. He had his eye on the scheme for the last five years, and ho was certain that if there was no help from outsiders at all, the shares would be all taken up in the district. The amendment was then put, but lost,— thejprospoer and seconder only voting for it. The original motion was then carried nem. con. The meotingtheu proeee le 1 to the election of directors. After a discussion as to the best number to appoint. Mr. Cnodgerpropesed—- “That five Directors be appointed for six-months, and that three form a quorum at meetings.” Seconded by Mr. Stuart, and carried. Tho following gentlemen were on the motion of Mr. Stuart, appointed directors : —Messrs Taylor, * Marshall, Goodger, Hazlctt, and the mover (Mr. Stuart). On tho motion of Mr. Fraer, seconded by Mr. Colclough, Mr. Siuythies was appointed Legal Manager, at a salary of 40(, per annum. Tho question of thennmberof scripuecessary to constitute one or more votes was left to the Directors tor 'port on, and they were also instructed to draw up Bye-laws for the Company and submit them to a meeting of shareholders, to bo convened for that purpose. The followingappoiutmouts wore confirm • ed:~ Solicitor, Mr. Allanby ; Treasurer, Mr. Taylor; Bankers, Bank of New South Wales. The A 7 cw Zealand Gazette of the 10th instant; states-that “ The' Qu'eenstown Athonasum and Town Hall Company, Limited ” has been registered under the Joint Stock Companies Act. ' jl