CULLIFORD COMPANY.

Nelson Evening Mail, Volume V, Issue 62, 15 March 1870, Page 2

CULLIFORD COMPANY.

o A meeting of the shareholders iv this company was held at the Oddfellows' Hall last evening, W. Wells, Esq., in the chair. The following report was read by the legal manager .- — . " Nelson, 14th March, 1870. . "Gentlemen — Owing to the prospectors' not havina got a title to the quantity of land, they agreed to give to the Company under the original agreement of date the 2Sth October, 1869, .the Directors informed them that they should require a modification of such terms, and proposed, subject to the approval of the general body of shareholder*-, that instead of the prospectors receiving £2000 in cash, GOO paid-up shares, and 200 scrip shares, they should receive £1000 in cash (£SOO to be paid now). 300 paid-up shares, and 100 scrip shares, to which proposal the prospectors have agreed to accede. In tbe event of the. prospectors taking steps for compensation from Government, it is understood that whatever they, may receive shall be their own property.. It now remains for shareholders to say^ Avhether they will carry out the proposals of the Directors. '• George Williams, Chairman." After some discussion it was. ultimately agreed to accept the offer made by Culliford and his mates as specified in the report. On the motion of Mr; 'Hibble, -it was agreed that the directors should not dispose of the 400 shares : thus set free,' without first ascertaining the wishes of the shareholders on the subject. '•.-•-