TIMARU STEAM COLLIER COMPANY.

South Canterbury Times, Issue 2908, 21 July 1882, Page 2

TIMARU STEAM COLLIER COMPANY.

A meeting of shareholders ■ was held last night, Mr J. S. Gibson in the Chair. The Chairman placed the articles of association before the meeting, and spoke very encouragingly of the prospects of the Company, and the probable effect of its establishment,upon the welfare of the community in general. The following resolutions were passed;— “ That the Articles and Memorandum of Association as read be adopted.”

“That as an instruction to tbe Directors, this meeting approves of the plans and specifications of the proposed steamer, as presented by Mr Watson, marine engineer, and are also farther of opinion that the terms ashed by the said engineer for superintendence during the building of the said vessel ore reasonable."

Mr McGill seconded the resolution, which on being put was carried unanimously. Mr Priest moved—“ That the ap. poiutment of solicitor to the Company bo loft to the Provisional Directors. ’ “ That the action of the Directors in appointing the Bonk of New Zealand as the Bank of tbe Company bo approved and confirmed*”

Mr Taplin seconded the propositions, and they were carried. It was also moved —** That it be an instruction of this meeting to the Provisional Directors that they at once taka the necessary steps to procure the proposed vessel in order not to lose time, and that they are instructed to call a general meeting as soon as the Company is incorporated, for tbe purpose of electing the permanent Directors, and confirming the action of the provisional Directors.” Mr Watson, marine engineer, who was present, submitted plans and gave important information as to the construction of a steamer. The Chairman suggested that one boat should bo obtained first, and others sent for eo necessity arose. The meeting terminated with a vote of