N.S.W. POLITICS

Hokitika Guardian, 23 March 1932, Page 5

N.S.W. POLITICS

COMPANIES BILL HELD OVER

’STATE PARLIAMENT ADJOURNS

(Australian Press Association )

SYDNEY, March 19. The State Parliament adjourned until April 25.

The Companies Amendment Bill was allowed to stand over in the Legislative Council after a petition praying for its modification was presented and counsel was heard at the bar of the House on behalf of Messrs R. Parker and D. Packer. Counsel explained that the financial position of certain newspapers was affected and asked the House to sav 'that it was not tile place to deal with matters of such grave importa nee to the companies. /. " The “Sydney Morning Herald" says * that it learnt ill the lobbies that the Ministry had decided to drop the Bill, ®'3 it would hi; defeated In the Conti*' and it wn.j rumoured that Mr Concannon had threatened to resign if the ■Government 1 went ahead with the measure.

The Bill aims by amending the Companies Act, to protect the preference shareholders by providing that the ordinary shareholders should not dispose of a company’s assets without the consent of the preference shareholders.

•Mr Lang .said the Bill would Be retrospective to enable shareholders 01 “Smith’s Weekly” '(whom he alleged to have been badly treated in connection with the sale' of the “Daily Guardian”) to institute legal proceedings for the recovery of fheir money.

GOVERNMENT SUED

CANCELLED BREAD CONTRACT

SYDNEY, March 22.

Messrs Dare and Purcell, solicitors, have issued a writ on behalf of the fi'-m of Shndlers, Ltd., claiming from the Government of New South Wales £20,000 damages in respect of an alleged breach of contract. The writ arises out of the contract that was made in July of last year between Mr Lang and Shadlers, Ltd., in reference ,to the manufacture and supply of bread for and on behalf, of the Govorn- ; ment.