NEW ZEALAND STEAM NAVIGATION COMPANY.

Hawke's Bay Weekly Times, Volume 1, Issue 15, 15 April 1867, Page 86

NEW ZEALAND STEAM NAVIGATION COMPANY.

IMPORTANT MEETING OE SHAREHOLDERS. . (Evening Post. 6th AprU.) A pbivate meeting of shareholders in this company, opposed to the scheme of amalgamation, was held last night at Barrett’s Hotel, J. M. Taylor, Esq., in the Chair. Mr. Bishop read the annexed report of the committee appointed at the previous meeting, and which was adopted with a vote of thanks from the shareholders to the committe for their successful exertions :

The protest against amalgamation which you adopted was signed by 72 shareholders, resident here and at the Hutt, and was handed in to the Manager of the Company on the Bth March, together with the separate protests with the signatures of 88 shareholders.: - . A circular note from your, committee, with a copy of the resolutions and. protest which you. had adopted, together withm 1 letter commenting on the report of the Panama; Company’s December meeting, and also a proxy paper was issued to every shareholder in the colony by the. first week in March—those to non: residents in Wellington were all posted .on March. Ist. - . This action was responded to by many proxies being sent in to varioas shareholders; 53 were sent to your committee by the ,36th March, in time, and 10 have been received too late, which would otherwise have increased the majority by 111 votes. , The result has . been that ,on Eriday last .the seheme of amalgamation wus rejected by. 1314 votes against '471, and by 143 shareholders against 30: The object for which your committee was appointed has therefore been attained.”. Signed J. E. Nathan, ' ' Ed. Owen, W. Bishop.

: Wellington, sth April, 1867. I It being generally believed, from statements by'.several of the directors, that they intend to proDOse, at the meeting on the 18th' instant, at once to wind up the company, thA following resolution was put and camed 4 iinanimously:— , That this meeting. considers that any attempt to wind tip the company at. the present moment would he'seriously injurious to the interests of the shareholders-; and. that efforts he' inadei to prevent the adoption of suen a plan.- " '■ That in order to, secure a profitable return for the enpittsi invested, it is requisite that a more economical and energetic system of management be introduced; and under a Board of Directors, the' number' of' which* shall not exceed five* or be less thaii three.* <

The following Committee was 1 appointed to carry out tlie 1 vje we of the meeting, with power to'add to their number: — J. E. Nathan, E. Owen, W.Biabop, J. M. Taylor, E. Tdomath, Jos. Burue, and Jno PUmmer.