WINCHESTER FRUIT-PRESERVING AND EXPORT COMPANY, Ltd.

Temuka Leader, Issue 2134, 6 December 1890, Page 2

WINCHESTER FRUIT-PRESERVING AND EXPORT COMPANY, Ltd.

The adjourned annual meeting convened for Tuesday last again lapsed, no quorum being present. Messrs J. A. Young and E. A, Barker, being the only directors in attendance, decided to proceed as by rule 39. A letter was read from a solicitor advising as to the law points submitted. The secretary was instructed to comply with the Act re: list of shareholders, etc., and to write to the Commissioner of stamps re lieense fee. The balancesheet, duly audited, showed a credit balance of £2B Is 4d to 30th September, 1890. The directors decided to carry ont the suggestions contained in tha report, which ii appended:— '• To the shareholders. " Gentlemen, —Your directors, in laying before you the audited balancesheet for the year ending with the 30th September, have again te express their regret that the affairs of the company should continue in a dormant j condition, owing to the general apathy experienced at the hands of the great bulk of the shareholders in neglecting j to pay up their calls. The land is i legally secured, the certificate of title ; being in custody of the bank. The last annual meeting of shareholders, which should have been held in Nevember, 1889, having lapsed for want of a quorum of 12 shareholders, the then retiring directors were formally obliged to continue in office according to the rules of the company and the provisions of the Companies Act; but their labours have been necessarily light. The usual formal business will require to be gone through so as te oomply with the Act. In conclusion we have only to express the opinion that the credit balance might still be held on deposit, and that tke site be carefully held in trust, so that should the shareholders deem it necessary active operations may be begun at any time.—Yours obediently; (Signed) "J. A. Young, " Chairman of Directors."