West Coast Lime Coy.

Hokitika Guardian, 26 June 1922, Page 2

West Coast Lime Coy.

A meeting of shareholders in the West Coast Co-operative Lime Producing Company was held in the Greymonth Council Chambers on Saturday and a goodly number of farmers from all parts of the district were present. Mr W. Butler (Chairman of Directors) occupied the chair. The balance sheet was read, explained and approved of. The following Directors were elected for the ensuing term: —Messrs W. But-

ler, J. Mclntosh, J. McLean, J. Fitzgerald, J. Minehail J. Thompson, and P. Ryder. A discussion took place on the proposal of the outgoing Directors to issue 2000 debentures of £1 apiece in order to effect certain improvements and put the Company on a sound financial basis. It was. reported that 800 of the proposed shares had been already applied for, and, as there are about 300 shareholders in the Company it was pointed out that if the present shareholders took up, on an average, five shares each out of the proposed new issue of debentures, the necessary capital would he raised, and th e whole thing put in working order. A motion was moved by Mr Murrey, and carried, that a meeting of shareholders be held in al>out a month’s time to discuss ways and means of raising the proposed capital.