NEW ZEALAND SHIPPING COMPANY LIMITED.

Globe, Volume IX, Issue 1236, 20 February 1878, Page 3

NEW ZEALAND SHIPPING COMPANY LIMITED.

An adjourned extraordinary meeting of shareholders in this company was held at the head offices, Hereford street, yesterday, at noon. There was a good attendance, and the chairman of the company, Air J. L. Coster, occupied the chair. The secretary, Mr Gibbs, read the advertisement calling the meeting, and the minutes of the extraordinary meeting of the company held on the loth January. The Chairman then moved that the following articles, which had been passed unanimously at the January meeting, should be adopt ed: — 1. That amended article No. 5 of the articles of association be repealed. 2. That the following article be inserted in lieu thereof :—“ The company may from time to -time borrow upon debentures to be issued under the seal of the company, and signed by at least two of the directors of the company, and also by the general manager tor the time being of the company, any sum or sums of money not exceeding in the whole current at any one time a sum of money equal in amount to the sum of the uncalled portion of the capital of the company for the time being, at such rate or rates of interest as, may from time to time be determined by ’the directors, and the payment of the principal moneys and interest intended to be secured by such debentures, shall be a first charge on the portion of the capital of the company uncalled at the time of the issue of such debentures respectively, and such uncalled portion of the capital of the company shall, when called up, be applied in the first place to the discharge of the principal moneys intended to be secured by such debentures.” Air Tancred seconded the motion, and it was passed unanimously. A vote of thanks to the chairman terminated the meeting.