A meeting of shareholders was held on the bth inst. Present:—C. J. King Esq., in the chair, Messrs. Porter, Miller, Lavers Barnes, Gundry, Fergusson, St. Croix, Tate, Little, Provand and Dr. MacGowan.
The Cuainwax said this meeting was called, in consequence of the failure of the meeting called on the 27th May last to bring together a sufficient number of shareholders. That meeting was adjourned to give a further opportunity of discussing the Deed of Settlement. Printed copies of the Deed had now for some time been in their hands. It was for the meeting to decide whether any part wanted alteration, or whether they would accept it as it stood.
Mr. Fenovssos pointed out that Rule X prevented any shareholder from holding more than 100 shares, except those specially named. But how if they sold their shares; could they again acquire shares in excess of 100!
The Cuainmax said the intention was not to permit this. The Rule was only intended to apply to original shares.
Mr. Fencvsson said the Rule was open to misconception; and after sume discussion, proposed the alteration of the Rule to read as follows: member of the Company shall at any time hold more than 100 shares, except as hereinafter mentioned, that is to say the said Charles John King," John Forster and F. Chapman, who shall! be entitled to hold and retain all such shares as may on the first allotment of shares be appropriated to them, and each of them. But no one of them shall acquire any additional share, so long as he is the holder of more than 100.
Mr. Tare seconded the amendment, which was agreed to. ments were then proposed and agreed to:—The following alterations and amend-
Rule 7—The addition of the words, at the end, in full of all charges for general management."
Rule 38-—Proposed by Mr. Mintex and seconded Mr. Baxxes—That the quorum be fixed at 15 members representing 150 shares.
Rule 41—Qualification of voters—Proed by Mr. Baxwes and seconded by Mr.
avens—That instead of a holder of 25 shares having 4 votes, a holder of 20 shares be given 3.
Rule 48—Proposed by Mr. Poxten and seconded by Mr. Lavens—That the number of Directors shall never be less than 3 or more than 5.
Rule 67—Mz. Tare asked an explanation of the intention with regard to advancing money upon goods stored in the wharf. belonging to the Company, so advanced, The Ciaima1ax said interest upon money
would of course belong the Company.
Mr. Tare—Was it intended to borrow money from the banks, to advance The Cuarmaax thought that would make a heavy fraud upon the Company possible.
Mr. Fexcrssoy did not think it was the business of the Company.
Mr. Barnes since the point had been fully discussed by the Directors, who had decided that this would not be legitimate business.
The Deed of Settlement as printed was then agreed to, with the alterations named.
Fomns of the proposed sezip and transfer deed were exhibited and approved; and the meeting then broke up.
Text read from the printed page and cleaned; old type leaves the occasional error.