RANGIORA LINSEED, OIL, AND FIBRE COMPANY.

Globe, Volume XXIV, Issue 2626, 6 September 1882, Page 3

RANGIORA LINSEED, OIL, AND FIBRE COMPANY.

A gen aril meeting ol the shareholders of the abore company was held in the Council Chambers, Bangiora, on Monday evening. There waa a large attendance, about fortyshareholders being present; Mr J. Johnston, chairman of the directors, presiding. An apology was read from the secretary, Mr B. Aherne, for his non-attendance; he also enclosed his resignation of the office of secretary, as he had removed from the district.

The Chairman stated the object of the meeting to bo the consideration ef a proposal made by the Christchurch Company for the amalgamation of the two companies, and is the event of the shareholders of the Bangiora Company deciding to go on, to elect directors, consider the articles of association, and in fact to start the company. He stated that all the canvassers’ books bad not been returned, so that he could not tell the exact number of shares applied for; but be had before him applications [for 1400, and there were no doubt more to be reported, so that the number would be at least 1500. He hoped those present would be prepared to go on with the company, and he did not see why they should not do so, notwithstanding the fact of the—establishment of a company in Christchurch j as although that might tend to reduce the profits on twine and oil, yet there would be room for the two companies. The sacra ary of the Christchurch Company in bis communication stated that they proposed to put scutching mills in the various districts in which flax was grown, but that ’ would not suit the Rangicra people. They must have a mill of their own if they are tcexpect the project to do them any good. He also read the report of the meeting of share, holders of the Christchurch Company, hold in Christchurch that day, when it was decided to carry on that company. Mr B. Evans moved—“ That the meeting affirm the decision of the former meeting of ' shareholders re going on with the company.’’ Mr Fnlton seconded the motion, and thought that when something was done to show that they really intended to go on, a great many more shares would be applied for. It had been stated that the movements of the Christchurch Company had acted like an electric battery on the Bangiora Company, for as soon as the one took any steps lor wart* the other would immediately respond by holding a meeting, while nothing was dene so long as the Christchurch people were inactive. He hoped that would not be the ease any longer, but that the Bangiora people would pull together and establish their company at once. ~~ The motion waa carried unanimously. Mr Eulton then proposed—“ That a reply be sent to the Christchurch Oompaiy, stating that the Bangiora Company could not amalgamate wi;h them, having decided to go on their own account.”

Mr Backham seconded this motion, which was carried unanimously. It was decided that the number of directors be nine, five to form a quotum. _ Ths following shareholders were then nominated for the office of directors, viz., Messrs H. Eiaekett, sen., J. Johnston, Isaac Wilson, J. Fulton, W. A. Burt, G. Euckham, W. O. Nichols, W. H. Luxton, O. D. Orossley, M. Maofarlane, E. Franz, J. B. Downes, and Hon. H. B. Qresson. As several of these gentlemen were not present, and their consent had not Loen obtained, it was decided to ballot for the number required at a meeting to be held in a week.

The resignation of Mr B. Aherne, as sec. retary cf the association, was accepted with regret, aid a hearty vote of thanks was passed to him for his past services. Mr J. Fulton was appointed secretary pra tem. With regard to the articles of the association, the chairman said that he bad only reo. ived the draft of them an hour or so before the mooting, and would suggest that several of the promoters should read it over and bring the same before the next meeting of shareholders It was then decided to adjourn fer a week to allow of this being done. The chairman and secretary were appointed to sign cheques, and the meeting terminated with a vote of thanks to the chairman.