The adjourned extraordinary meeting of shareholders in the above Company was hold Tuesday. Present—Bfr. J. in the chair; Mosers. W. H. Si A.J, Little, 0. B Bad land, Directors; Messrs. C.
Kill, B.C. Brown, Banyard, Chrystall, Carnie, Dunman, Groom, Glover, Hannen, Bitch, Hughes, W. B. Jamieson, Manson, J. Macgregor, Nichol, Noetzli, Pryer, Rodewald, Simpson, Thurburn, RK, E. Wainewright, J, Wilson, and J, Dunn, Acting Secretary.
The Cuainssx, in opening the business, anid they had uow to resume the adjourn extraordinary meeting. Propos before the meeting was one proposed by Mr. Groom, and seconded by Mr. Macgregor—No. Tof the Deed of Settle-hat "The Company shall period of ninety-nine years from lute of these presents," be annulled.
The pull demanded upon the passing of that resolution was taken yesterday, were, for the rerolution, fave told you enn only regard that rem sion of opinion. We h that the majority th renolution binding, Mr. Gnoom—May [ask, as you say the jority is not binding, what majority ficient 7 The Cuatxzax—I am not prepared to Groom—Ia your legal adviser proto say?
Wainzwntout (the legal advisor)
think 1 am called upon to a nything. The Directors say it is not Mr. Groom—Are you speaking as on behalf of @ special shareholder, or as an ordinary shareholder, or as counsel of the Company 7 Mr, Watxewnicut—Aa Counsel of the Company.
Mr. Groom—I think the Directors should tell us what majority they would consider sufficient.
Cuamsax—I do not think we are upon to do 80, Mr. Warsewniont—1 la by no means an easy question to answer, My own opinion is that yo majority is sufficient.
any rate Ido not think that less than two-thirds of the total number of votes would be sufficient, That fs, at least, another view of the subject, and I do not any it is a just one. As 1 said before, it a very difficult question to Me. Groom—Then may the Chairman read Rule 114?
he CHuremas—It la a legal q tion, one that we, not being can scarcely be expected to ans is very likely the matter will have to be settled legally, and such questions would then be settled. As Directors, we do not wish to place difiievltien in the way of having the matter settled; we are merely acting between two patties, and it Directors' consider Rule 114 is " binding Rule or not upon the Company. No one doubt that what has really happened is that, after a consultation with the legal wt, there is a belief in his and the tors' minds chat Rule 114 ought er. to have been altered at all. But they are not prepared ital question now ig is scarcely the pa might have been expected to take. the Directors must lave made up their minds on such " point, and we only want to know what decision they have come to.
The Cuaimmay—I do not think it at all. touch depends upon whether rule 114 can be read as ai to funda principles or the Company. We thin to fundamental princi cannot bear upon clause' 7, which must regarded as one of the fundamental rules of the Company.
Mr. Hanxex—We only wi nto the inejority—mhat my be auflicient The Cuarnstax—As I told you before, we are not prepared to say what number would be sufficient.
Mr. Watnzwnictt—One partner is not bound io giv the ce-parti of Inw must be settled by a Jourt of law. So far as my opinion goes, itis a very difficult question to decide, and one that the Directors can only get decided by some legal tribunal, The Directors are between two sets of partners, one of which wants aomethiny on one aide, and the other on the other It is not for them to say wh ight egard to Rule 114, I do not think that Lor anyone dao should be called upon to 80 difficult a point off hand, As I have said, it must by some or some body outside the shareholders the Directors have they ought to have received full advice upon all these pain'
as to lay the opinion before the shareholders.
Cuareuax—Well, in ovr opi question can only be settled by some legal tribunal, outside the body of shareholders altogether, as Mr. Wainewright now tells hie. Parma "I bog leave to propose That the busines and affair of this Com-Eistributed among the sherebolders, immediately wound up, and ite assets Mr. Hircx seconded, and on a show of hands, the motion was declared carried by 18 for to 10 against.
Mr. Steovaten and Mr. Bape demanded that a poll be taken The Cnaremas—This is really a very important question, and cannot be decided in one afternoon." We ahal give Shareholders time to reco: matter, fix the poll for Monday, the loth Mr. Pryer—Do you think they' lit not had time within the past three monthe to change their minds?
The Cuancsay—Perhaps your friends may have found it enough, but some of ours may not have done 40," We were not 40 well prepared fur these meuaures as you, Mr, Goos—The number of votes recorded at the poll were 2,792—this meeting is postponed fo he holders of the opportunity of votes The Cuainstay—They might wish to have the opportunity.
Mr, GRroum—May I ask, if you, (as Chairs of the Directors, received instruct to vole on the shurer in your name, ex officio, agai lution which wns passed yesterday The Caimsax—I do not think you have the right to put auch n question, Mr. Gxooa—I certainly think ight to nak it.
The CuarmaaN—Then I must decline to anewer it, meeting can adjourned, a motion be made-for its adjournment.
The Chairman has no was any objection, Mr. J. Baconecon—Might T ask, if the adjourned till after the poll whether after thi ares will: not be transferred, because the bucks are closed.
Mr. J, Macanecon—And proxi The Cuarnstan—Proxies will be accopted, if registered forty-eight hours before the Poll it is one of the objects of the Poll to enable shareholders to do this, Mr. GRoom—I understood the register to be closed for 14 days previous tu each General Meeting as a matter of: conto see what Sharehold and in order that warrants might be issued to the abureholders ssu registered.
Cuarnstax—We have not registered shares for the last fortnight.
Mr. Gxooa—Then you propose to close the register for another mouth 7
After a brief consultation among the Directors, The Cuarnstan anid—We seo no objec: tion to allow shares to be transferred We will open the transfer now prepare that we 1 ordinary veneral mee!
4 till November 16th, ab 230, Mr. Stecrurep seconded the motion.
Mr. Puyer—In the event of " question being put at the next meeting which will require a poll, will the meeting be sdjourned for another month 7 The Cstatrstax—We cannot say.
The meeting then broke up.
Text read from the printed page and cleaned; old type leaves the occasional error.