Air Training Corps.
The weekly routine orders for the No. 21 Squadron, Air Training Corps, Masterton, are: — Parades: Thursday, January 14, and Monday, January 18, at-6.50 pm. at the Wairarapa College, Masterton. Syllabus: January 14, drill, P.T., and signals; January 18, drill, P.T. and signals. Company’s Petition Dismissed. Judgment has been given at Auckland by Mr Justice Fair dismissing a petition by the Taupo Totara Timber Company, Limited, which sought confirmation of a resolution to reduce its capital. New Zealand Forest Products, Limited, opposed the petition. The resolution, for which confirmation was sought, was for a reduction of the petitioning company’s capital by £34,203 by the return out of surplus assets of the company of 5s a share to the holders of 136,813 fully-paid preference shares of a nominal value of 15s each. His Honour said the evidence established that a serious fire hazard existed. Confirmation of the company’s resolution in such circumstances, said his Honour, would, it seemed to him, amount to the Court’s sanctioning the company’s conducting its finances without retaining a“equate provision for a contingent liability for which it was reasonable to require provision to be made.
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Wairarapa Times-Age, 13 January 1943, Page 2
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190Air Training Corps. Wairarapa Times-Age, 13 January 1943, Page 2
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