VERY LATEST.

Wairarapa Daily Times, Volume XI, Issue 3513, 17 May 1890, Page 2

VERY LATEST.

[by telegraph]

(PER UNITED PRESS ASSOCIATION.)

The N'Z. Stud Company.

Auckland, Saturday. ' A resolution to voluntarily wiud up the N.Z, Stud Co. was passed at a special meeting of 'shareholders yesterday. Mr James Ilussell, who presided, said lie did. not think he need trouble tbem with any detailed account of die finincial position of the Company, suffice to say that they had been carrying ou fotyeavs past under a great disadvantage, inconsequence of the fact that .they owed a largo sum of money, principally to tlie bank, and a large sum they had to pay as interest' had to a certain extent crippled their efforts. The Company's property comprised a large number of mares, which were every day gotting older, and in the natural, course . of . events they decreased in numbers, and every year saw a loss of two, three, or more. As the Company was not in a position to supply a certain, sum of money for replacing the mares, the Bank had asked them to go into liquidation. .Personally, he could not say a word against the Bank's action, He thought thoy had done what every prudent creditor'would have done, Mr Russell said further that there wiis a'prospect that the Company would not leave Auckland, lie did not think there was any intention to have forced a sale of property. There was rather a desire on the part of the Bank to put money into it and'nurse it until a better price might be got for it in tlio future. llb coxld assure, shareholders, however, that the most would he made of the property. Mr H. E. Whitaker was appointed liquidator.