MASTERTON A. AND P. ASSOCIATION.

Wairarapa Age, Volume XXXII, Issue 10405, 28 August 1911, Page 5

MASTERTON A. AND P. ASSOCIATION.

CENERAL MEETING OF MEMBERS. A special general imeetftog of members of the Masterton A. arid P. As'socdatiicxn was held in the Aaaoc&Or tion's office 011 Saturday afternoon kusfc, twenty-three members being present. The ohair was occupied "by Mr W. J. Welch (Vdoei-PSnesid&iit). The objeot xstf the meeting was to pass & special resolution detaimg witib tihe overdraft of the Assooiation. Thie chlairmain moved the irasolia-. Itian', of wihicih due notice had been* given, as follow®: "It is hereby resolved thlat the Asobeiatioai fihall borrow "upon; itch© security of first inori>gage of its Soiway property, MianaSa, ftihie sum of £4OOO iat the xiaJte of, 4| per cent., <and the Ctommdtfcee ofiib& Association is iauiJioTisad to {hiarviei the neoessary documienit of mortgage executed; ; The purpose, for (wMdh ttihle money sthall -be barrowed! is .the repayment of the Assocaation/e exiistMg dieibifr to- the Battk of Australasia." ■Mr 6. C. Summerell seconded rthieanoisolution. The chiairmim explained that the object of the resolution was' to emaible the AssocdataozL to convert its overdraft into a mortgage. He poom/ted out ibfoat the Bank of Australasia bad not been pressing +ihe Association in any way. In fact, it wtae quite willing Ito allow matters too contiinue ias at present. It was only proposed to wipe off a portion of the overdnalfib. The motion, was put 'and Carried unanimously. • Ait a subsequent meeting of ttiba Committee,-the (resolution passed at the gemerafl meeting , was confirmed, and 1 Messrs G. C. Summerell and D. Oalselberg were appointed ito siga the mortgage.