ASHBURTON ATHLETIC SPORTS GROUND COMPANY.

Globe, Volume XXIV, Issue 2654, 9 October 1882, Page 3

ASHBURTON ATHLETIC SPORTS GROUND COMPANY.

A meeting of shareholders and other* interested in the formation of the above company was held at Quill’s Hotel, on Friday evening, when there was a large attendance. The Chairman (Mr 0. Percy Cox) read tho report furnished by the provisional directors appointed at the last meeting, and submitted offers that had been received of three separate pieces of land suitable for the projected requirements of the company. After some discussion, it was resolved, on the motion of Mr D. Thomas, seconded by Mr Gundry —“ That the capital of the company consist of 500 shares of £5 each, instead of 200 shares j 300 to be offered to the public at once, and the balance to be held in reserve, and itausd when the directors think fit." The Chairman submitted a draft copy of the articles of the association, and suggested that a meeting should be called at an early data for tho enrolling of the company and the appointment of permanent directors. Already 121 share* had been applied for, and he thought there was every probability of 300 being taken up, and the company floated under most favorable auspice*. Mr D. Thomas thought that while they had the advantage of such a large meeting it would be better to appoint permanent directors at once. Considerable discussion then ensued as to the number of directors it would be advisable to appoint, three separate motions being put to the meeting, the respective mover* being in favor of the appointment of nine, five and seven directors. Mr Thomas and Mr Gundry pointed out the advisableuess of having a* large a directorate as possible, so that it should be a thoroughly representative one. Ultimately it was resolved, on the motion of Mr S. Saunders, seconded byMrßestoll—“That the company be enrolled now that over 100 share* are applied for, and that seven permanent directors (four to form a quorum) be elected by the shareholder* present, and that they ba authorised to purchase a piece of ground and proceed with the business of tho company as soon as the articles of assooktion are signed ; a meeting for that purpose and other necessary business to be held at Messrs Matson, Cox and Oo.’e office at an early date.” The meeting then proceeded to the election of directors, with the fallowing result Messrs C. P. Cox, S, Saunders, J. Orr, A. Orr, W. H. Qnudry, T. Bullock aud A. Nelson.

A number of share* were applied for in the room, and there ia every probability of the company storting on a most satisfactory basis.