ALEXANDER MINES

Hokitika Guardian, 4 October 1932, Page 6

ALEXANDER MINES

PAYMENT OF DIVIDENDS. (Per Press Association — Copyright.) , ; WEffJJINGTON, 'October 4. A dispute 'between different classes of shareholders in Alexander Mines Ltd., the mining Coy. having a registered, office .in Reef ton, .led to that company issuing an originatingV.summons asking the opinion of the Court whether on the construction of its memorandum and articles of association in declaring and paying dividends, it should do so (a) according to the amount paid up on its shares. (2) According 'to share capital of Company irrespective of. the amount paid up on shares. - • (b) 'Or in. what other way.

William Hill, of Greymouth, arc-hi-teet, and Duncan Amgns Me Vi car, of Blackball, butcher had been named as defendants, the foamier as representative of the holders of partly paid shares, and the- latter as representative of holders of fully paid shares. By order of Mr Justice Blair, the summons has heen removed into the Full Court for argument, and is being heard by it here to-day. When the ease was called this meaning, the Chief Justice asked who was responsible- for the filing of-the papers and on ; being informed that it was the solicitors for the Company, said were it not for the fact that counsel, other than members. of the firm acting for the Company, from -Dunedin and 'the West Coast were present, he would have asked other -members of the Court to join with him in refusing to hear the case, on account of the condition in which the papers were presented and the late dlafe of their filing. Legal argument is proceeding.