The Southland Frozen Meat Company.

Manawatu Standard, Volume XI, Issue 1649, 4 March 1886, Page 2

The Southland Frozen Meat Company.

(l EB UNITED PRESS ABSOOI4TK)ir.) Inyercargi^l, Tuesday. An extraording meeting of the Southland Frozen Meat. Company was held oa Saturday, to consider the proposal to wind; up the Company. Mr ...Carswell presided, and read a series of resolutions drawn by a special Committee appointed 'at last meeting, and consisting; of tors and several shareholders, to consider what action would-.be most advisable under the circumstances. He moved the adoption of the first as follows : — <J That it has biieri proved to the satisf action- .of the Southland Frozen Meat Company thatit cannnot by reason of; its .liabilities continue its business, and that it is advisable to wind up the Company-volun-tarily under the provisions of the Companies Act, 1882." After- a lone: discus, sion Dr;Hpdgkin§on.mdye4'as an amendment, t \Th^t...b*eto|re/.aiiy-.actioa is taken by this meeting towara ..winding th« Company up, the • report an3f resolution read by the Chairman^ andPS full state, ment of the position of the^Compariy be printed and circulated among the shareholders,: (and another, meetipgylje qheld m four, weeks from date to giye time to obtain a l^ sufficient! nniriber^df Shares to relieve, the Company from its. present emDarrassment." On being j .amendment .was carried by r a large majority. Tlie pressing necesßity lc fSr action arises irotri the fact : that the Birpctors^are perspnally, liable for- £2500 to th^bahk; while aU.. thY sh%re\<«pflal is called up. : »The .workspace valued at over £11,000. They have never frozen a cargo. jThe position of the Company ,has been aggravated by the refusai c 'oftfte New Zealand 'Shipping* Company to allow its steamers "to~"call at the Bluff for frozen" meat," and the Umpossibility; 'of Setting sailing vessels; at this season.