EGMONT BOX COMPANY.

Taranaki Daily News, 18 November 1919, Page 7

EGMONT BOX COMPANY.

SPECIAL GENERAL MEETING. A special meeting of the shareholders of the Egmont Box Company was held tit the company's offices yesterday morning, when there were present Messrs. A. .Morton (chairman), W. D. Powdtell, ,1. ttoolridge, C. J. Belcher, F. Eanford, and J. Brown (directors), and a number of representatives of other shareholding companies. I On the motion of the chairman, peconded by Mr. F. Eanford, the resolution passed at the last general meeting increasing the share capital from £IOO,OOO to £200,000, was confirmed unanimously. Mr- Morton then moved the confirmation of the second resolution previously passed altering the basis of the allotment of shares from four shares to every ton of cheese produced by shareholding companies, to twelve shares for pvery ton of butter and six shares for every ton of cheese. Mr. Johnston seconded. Mr. J. Marx referred to some unseasoned timber supplied to the Mangatosi compa'ny, but in reply to Mr. Morton fiaitt this was during the last season and not the present one. The chairplan replied that there was no discrimination in the supply of boxes and ciates to shareholders. The companies had this season ample supplies of seasoned timber. Mr, Corrigan said his company hoped that the Box Company would yet ajjroe to pay interest on pa'id-up capital. The Box Company was running a timber business, and should run it on business lines. The chairman said the proposal to pay interest had not been definitely rejected. The recommendation had been defeated, it being decided not to do so jit present. They might at a later date be able to see their way clear to nav interest. • w Mr. Corrigan said he had heard rumours of a suggestion to make a rebate on crates instead of paying interest. He hoped that this was not correct, as it ivould only result in penalising his company and tne Mangatoki company, who tvere procuring some of their supplies elsewhere. The chairman said it was only a suggestion. " Mr .Corrigan hoped the suggestion would not materialise It would be very unfair on the two companies he had mentioned. The company should nav interest. . * ' file motion was carried unanimously. .. A further resolution was passed altering the voting power in accordan.-e with the new basis of allotment of shares. In reply to questions, the chairman said the proceedings in connection w'+h the agreement for the purchase of timber from the Tongariro company were now well in hand. The necessary legislation had been passed, and the arrangements were now veil in hand. Further satisfactory nrrangempnt* had boil made with the bank in this connection. ""Argus,