TURUA PUBLIC HALL.

Hauraki Plains Gazette, Volume XXXVII, Issue 4958, 31 March 1926, Page 4

TURUA PUBLIC HALL.

FORMATION OF COMPANY.

TENDERS TO BE CALLED

Definite progress in. 'connection with the formation of .a public company in Turua for the purpose of having a •town ahll erected Was made at a meeting of the provisional directors on Saturday last. Mr A. H. Rogers, presided over Messrs S'. S. Murray, SG. Williams, A. H. Sutton,-W. Madgwick, J. A. Bennett* J.. Mules, G. Gray, and L E. Gre.cn (secretary): The chairman reported that written applications, had been received for 2019 shares, and there was no reason for delaying the regisitratino of the company and the: allotment of shares.

A draft Memorandum of Asisociation was submitted by the secretary. Tho ■ capital of .the proposed company wasi set, out as, £5OOO in £1 shares," with limited liability. Subject to the incorporatjion of' a cla.use providing that interest shall not be paid on shares until .they were paid up to 10s, and that sufficient profits were available for the purpofse, and a clause providing that tjhe preliminary expenses may be a charge either ..■against the capital or the profits of the company, the memorandum was adopted.

-• Draft Articles of Associtaoin were also submitted and adopted.

Shareholders wei’a ip have one vote only, irrespective of the number of shares held. No shareholder would be eligible for appointment to the directorate unlessi he had tsigned 'the joint and several guarantees of the company’s liabilities to the. bank.

Messrs Bryan and Macklow wree appointed the comapny’s solicitors, and were instructed to take the necessary steps to have the company registered.

■The' secretary was instructed to send but notices to shareholders asking them to send in the amount due on the application for shares,.

The plans and specifications of the. proposed building, ajs l submitted .by Mr A. E. Abqrhart, were adopted, and it was decided that public tenders be called for the erection. The tenders, would close in .about tjiree weeks, and the building must be completed in -ten weeks from the- date of a’ccept- . ance of tender.