PETROLEUM.

Taranaki Daily News, Volume LI, Issue 300, 15 December 1908, Page 4

PETROLEUM.

JX<iU:\VOOD OIL AND PROSPECTING COMPANY.

A meeting of shareholders of the ln« jjlewood Oil Company was held on Friday night'hi»t, Mr. Thos. Furlong presid-

Hie follow ing resolutions were uuaniiiiou>!v roiilinii.-d: - (l)" That the capital of the company be increased to the 1 amount of Cl.\ooo by the creation of additional capital to the amount of ;l £SOOO. divided into .500 shams of til | each ,tn Ik* i- .led as preference shares, J entitling lac iiulders thereof to receive! out of the |>r< i;; s oi the company avail-] able for divided hHnre any dividend! is paid to the or shares in th*M now existing capital »f tue company, a preferential dividend at the rate of i: 10 per eentuiu per annum, and after the holders of shares iu the existing capital of the company shall have received dividend at the same rate to an etjual dividend with the holders of the shares in the existing capital in any surplus of profits available for dividends, and also entitling the holders thereof on a winding up of the company to a preferential claim-on the distribution of the assets of the company remaining after paying the debts and liabilities of the company, and the cost of winding-up.'* (2) "That each of the existing £lO shares in the capital of the company he divided into live £2 shares, and so that as regards these shares not fully paid up, the proportion between the amount (if a:iv) which is paid and the amount (if any) j which is unpaid on each share of reduc-

Ed amount shall be the same us it was in the case of the existing tit) share, from which the share of reduced amount is derived."

Mr. J. E. Wilson, the company's soli-

citor, was present, and explained the ne«- prospectus Messrs Ahier, Watkins :nul Elwin were appointed a committee to arrange for the issue of the pros-

pectus. It was decided to issue a further 1001! shares, the rate of brokerage not to exceed .) per cent.