J.D. WILLIAMS

Evening Post, Volume LXXXV, Issue 27, 1 February 1913, Page 5

J. D. WILLIAMS

SERVICES DISPENSED WITH SUCCEEDED BY A NEW ZEALANDER SUGGESTED CAUSE OF RECENT SHARE PANIC. By Telegraph.-Presfc Aasoclafion.-Copyright, SYDNEY, 31st January. The recent excitement in tho sharemarket in connection with the shares of the Greater J. D. Williams Amusements Company has died down, and the holders are now awaiting the directors* report. Mr. J. D. Williams is retiring from the position of managing director. Mr. William Barrington Miller, formerly of Now Zealand, has joined the directorate. (Received February 1, 9.25 a.m.) SYDNEY. This Day. The directors of the Greater J. D. Williams Amusements Company have carried a motion dispensing with the services of Mr. J. D. Williams, the managing director, from to-day. The duties will be assumed by Mr. W. B. Miller. In a published statement Mr. Williams contends that the directors have no pown- to dispense with his services; that can only be done by a two-thirds vote at a general meeting of shareholders. In July last, he pays, one director suggested to him that a Royal Commission should enquire into the affaiis of the company. Mr. Williams said he agreed that this was the best com be. Another director, however, f-aid that that wa? foolish. A few days later the directors declared a dividend of Is 6d per share, despite his opposition. Mr. Williams says the declaration of the dividend helped to cause the present Stock Exchange panic, because it swallowed up the company's leady cash.