IN THE AIR.

Taranaki Daily News, 24 August 1918, Page 5

IN THE AIR.

A CURIOUS INCIDENT Received August 24, 1.20 a.m. London, August 22. A curious incident occurred last night. A sausage balloon broke from its moorings and drifted across the metropolis. It resembled a zeppelin in the moonlight. Special constables were called but in some parts. Searchlights followed the drifter, and aeroplanes pursued and downed it in flames.—Aus. and N.Z. Cable Assoc.

WINTER SHOW COMPANY.

AND THE WEST COAST REFRIGERATING COMPANY. At the annual meeting of the West Coast Refrigerating Co. on Wednesday last, Mr. J. R. Corrigan introduced the question of that company taking up more shares in ■ the Winter Show Co. They were all aware, ho said, that the Winter Show Co. had made sacrifices to assist the West Coast Refrigerating Co. and the dairy farmers generally, and in leasing their two' halls to the West Coast Refrigerating Co. they were left in the position of having tp provide more accommodation for their annual show next year or drop the show. The directors had interviewed the various dairy companies, requesting that they should assist the Winter Show Co. by taking up shares, but they took up the attitude that it wa3 the business of the West Coast Refrigerating Co. to do so and not theirs. He would now like an expression of opinion as to whether the West Coast Refrigerating Co. was disposed to give effect to the wishes of the dairy companies. The Winter Show Co. was a sound institution; every 20s share they took up was represented by 30s worth of assets. The chairman pointed out that the West Coast Refrigerating ■ Co. had in the first .place put down two concrete floors in the Whiter Show Buildings at a cost of close on £BOO. They were, in addition, paying them £l7 a week for these two halls, or something like £BOO a year, and that was a big assistance to the Winter Show Co. He admitted that they had got the West Coast Refrigerating Co. out of a big hole, but they were being paid for it. The Refrigerating Co. would far sooner pay a straight-out rent than take up any share capital, because it was not part of .thair business to do so. It was trtw that ih'e Winter Show people would have ace -plod a lesser rental had the Refrigerating Co.. agreed to take up more share capital--tliey had'already had £250 worth of shares-vbut the directors decided upon a straight-out rent. Mr. Corrigan contended that the Winter Show Co. was a district institution, and no director or shareholder got a shilling out of it. All profits went .baqk into improvements. The chairman said that the Winter Show Co. wanted the Refrigerating Co. to take up £2OOO wortli of shares. Mr. Corrigan: Ultimately reduced to £IOOO.

The chairman: £IOOO, plus £2OB a year for the Lloyd George Hall. Now it was a straight-out rent of £l4 a week, with no conditions as to shares. Mr. Johnston: Is the Winter Show Co. still endeavoring to induce dairy companies to take up shares? Mr. Corrigan: Yes, but they will not do so, and thus spread their liability pro rata. The Winter Show Co. did not want the cash; they wanted the guarantee of the Weßt'Coast Refrigerating

Mr. Bridge considered that representatives present had no authority to bind their respective companies in this matter. The chairman said that the Refrigerating Co. had heavy liabilities already, and they required all their funds to develop their own business. His own opinion was that they should stand by what they had done. . lu a general discussion the opinion was expressed that if the whole position was put to the dairy factories they would take up the required shares, and on the motion of Mr. Marx, seconded by Mr. ■Johnston, it was decided that it be a recommendation from this meeting to Individual factories to take up, pro rata 250 £5 shares, and that the West Coast Refrigerating Co. circularise them to»taftt' effect.—Sti. .. ' '