LATEST AUCKLAND NEWS.

Waikato Times, Volume XXVII, Issue 2226, 14 October 1886, Page 2

LATEST AUCKLAND NEWS.

[BY TKLEGRAPH— OWN CORRESPONDENT.] South British Insurance Company. Auckland, Wednesday Night. A STORMY meeting of the shareholders of the South British Insurance Company took place to day. The hon. Mr Chamberlin charged the directors with going into divers manifestly unsuccessful speculation I',1 ', and alleged that in many instances the piivate interests of the directorate had been more considered than those of the shareholders. The shareholders must take care their money was not put into such investments as the Unehunga Ironsand Company, or the Onehunga Woollen Company, or the Freezing Company, in which some directors were greatly interested. He would now refer to another niiitter, that was the ThaniesRotorua railway. They had all heard about that railway, but they had not all heard that siiinn directors had tried to shove the company into this speculation. Had they done so the shaie,*. would have gone down fully 30 per cent at the present time. He hail struggled against this project, and thought it was hut just to state that Mr llobbs had bi-en with him, and the chairman had not unduly pressed the matter. Mr Chamberlin'!* statements were categorically denied by the directors. The following motion was carried, with only one dissentient : — " That this meeting regrets that Mr Chamberlin should have made such serious charges against the directors, which charges in the opinion of this meeting Mr Chamberlin failed completely to establish." Messrs Buckland and Hobbs, the retiring directors, were nominated for re-election. There were also two new candidates, Messrs D. (Joldie and Elkin. A show of hands resulted :— Buckland, 30; Uoldie, 2t); Elkin. 2(5 ; Hobbs, 2G. A poll was demanded, and resulted in the election of Messrs Hobbs and Buckland.