An extraordinary general meeting of the above Company was held on Wedn day, the 21st Jnnusry, at the Compa Offices, for the purpose of passing lution to increase the Capital of the Company by the creation of 10,000 new shares of one hundred dollars Directors, and Shareholders, representing 9,082 shares.
Phe Cuaikstay of the Company opened proceedings Ly w reference to the adver read. Ile then spoke as follow:
ment convening the meeting, and which
Gentlemen, n the Report Company's doings to the eud of you will have seen that the result of business to that date had been very successful, and L may say that Ue statement which we shall Iny before you in March next 1s to date—to be weeble, though it btu you that at present your Directora are wualle to put before You definite figures. Contidenos in the Future of our Company would seem to be proved by the fact that shares have re cently been gold at as high a fi for the §20 paid-up. he position being such, your Directors consider the present an eminently fitting time for bringing before you a proposal to increase the Company's capital, Should our proposition be passed by you, your Company will obtain with additional financial strength. increase of credit wmongat the insur public, and we hope that many who did not look altogether with favour upon the Ofice at ite birth will now come forward with valuable support, Further, your Directors will, with the passing Of the scheme we are' met to consider, be in_® position to ye the lines now should stich a step—on mature out n—nppear tu be desirable, Nhe proposal which Lam about to put before you will—i ed—give an tart to your General Keservo Fund. The crontion of w considerable Kesorve Fund your Directors deem of the highest importance, Iwill vow read you the resolution which youe Drectura ask you to pass, It is as follows "Phot the Capital of the Company shall be increased tu $3,000,000 by the creation vf 10,000 new Shures, of $100 each, "Phot 8,000 of such new Shares shall be offered in the first instance to the pre= sent shareholders at a premium of S10 hare in proportion to the unt of the cupitnl of the Company held by them respectively—and that the disposal of the reminining 2,000 and any balance of the 8,000. not taken up by the shareholders shall be left in the discretion of the D rectors—but shall not be ed of at ales premium than $10 per shar That all premiums received on the sala of the 10,000 new Shares elisli be carried to the General Reserve Fund of the Com-propo! issue of new Shares upon these terms, your Directors—upon careful scrutiny of the accounts—consider that they are offering you good value for your money. The ques the how Shares has been a most dill to aulve, and after very careful tion your Directors huve de propose that 8,000 of the new Shares shall be offered to existing Members, wha will now yet two new Shares for every five of oid, whilst the remaining 2,000 shares shill be offered to those of the veneral public who are in a pi to support the Company with business, Nothing further remains to mo to ud beg therefore to proj ose the resrlution which is already in your hands, but which L will agsiu real. "Before doing se, however, E may say that our Regulations do not require us to call a meting for confirming the b we to-day past 20 that with your pr proposition before you, the scheme will be forthwith carried ow The Chairman having ro-read the resolution, The Hon. W, G. Guttand ruse and said:—Mr. Sohat havingaaked me to attend here to-day and sny Directors in the business before us, have great pleasure in doing sv, browse apart from ever liking to clu what I can to assist my neighbours, I hare peculiar pleasure in niding 20 good a one as Me. Sohst. 1 have so thank him for te opportunity of actendiag this Company's © reunions," for dey serve to the monotony of the lestings of the Tanjong Pagar Dock Com pany, which have got to be so intensely Feapeetable that quite hail the chance afforded by w fresh Company's meet at which we may enjoy " half hours amusement in the midst of buying: Lam afraid, however, that whit our Chairman has proposed will be ay acceptable to us all that I shall be disappointed, and that there will be 20 sparring at all," As Singapore men, L feet sure we but be proud ut the access which has ao far atte this Company, Some sey it is income aay it is youd Lam clined tot a little of both.
what the Chairman has stated ik, recommend itself to all of ne. What the Company are now ding cannot fail to he of adv Phey are incrensing their capital to $3,000,000 by " scheme which places $100,000 to eve clusion 1 have pleasure in seconding the rosulution proposed by the Chairuran, fool sure that all present will be —[f ans shareholders have any remarks to make relating to the resulution before the meeting I stall be glad i€ they will offer thei No shareholder rising, the Chairman put the resolution tu the meeting, and it was carried without a ringle dissentient.
The Cuaimmax—Uentlemen, w that one Capital is w be raised to $3,000,000, Aaticle No. 128 in our printed Regulats will require to be changed. In mov'
ation to-day Dearing upon that sh of order, but Lgive notice that at the 4th Ordinary General Meeting to be held next March your Directors will bring forward a proposal to alter Article 125, which reads to the fuleffect the Reser and until a special Resolution of the Company shall increase the amount of the General Reserve Lmay mention, with reference to the limit of time within which "pplicati from present members for their proportion of new Shares must be in the Company's hands, that your Directors have Gxed the 28: h February as the last day for rece! applications from Shareholders the aitsSettlements, whilst for membersoutsue our S-tlements up to and including the Ist April will be the limit imposed. $30 per share will have to be fully paid upon application, and intereat will accrue from the date on which funds are made available to the C here. of thanks to th chairman, ed by De, Mogtistox, and seconded Me, W. B, Surry, the meeting doeed.
Text read from the printed page and cleaned; old type leaves the occasional error.