WANGANUI FREEZING COMPANY

Taranaki Daily News, Volume LIV, Issue 104, 23 October 1911, Page 5

WANGANUI FREEZING COMPANY

NE(W MANAGEMENT DESIRED. By Telegraph—Press Association. Wanganui, Last Night. _A special general meeting of the Wanganui .Freezing C'o. was held un Saturday afternoon to consider the following notice of motion: "That providing a purchaser can be found for the company's assets as a going concern at a price which, after providing for all liabilities, will produce a sum sufficient! to return to the shareholders at least the par value of their shares, the shareholders consider such sale desirable, and authorise same." After a long meeting, the motion was carried by a majority ofl over 200 votes.

An amendment was carried "that with the exception of the chairman, Alfred Burnett and G. 8. Robertson (wh» is Nelson Bros.' representative), the board! of directors resign immediately, and thati Messrs. Henry Cornfoot, R. E. Beckett, Allan Robinson and C. L. Duigan be appointed to the board." The meeting then adjourned to a date to be fixed, when the resolution will be submitted for con f nrmatioH. i It is possible that the remaining directors will also resign, in which casi a. deadlock will occur, as the articleslof association do not provide for the S>pointment of new directors, save by tlip board, of which three are necessary, t > form a quorum. The promoters of .th > meeting are fully satisfied with-, th i soundness of the company, but are dissatisfied with the management. ,