An extraordinary general meeting of the above company was held on Friday afternoon at 3 o'clock in the Central Hotel. Mr. John Prentice presided. The following shareholders were present:—Messrs, Colin Buchanan, A. Shewan, and Murray Adamson (Directors), Drummond Hay, W. Kingsmill, J. Johnson, R. W. Mustard, J. A. Stewart, J. H. Osborne, E. U. Smith, Lowe, W. D. Little, Cock, J.D. Thorburn, Duncan Glass, and others.
Mr. J.B. Osborne was appointed secretary to the meeting.
The Chairman in proposing the resolution as advertised said when the Company was started a twelve ton plant was thought to besuficient and now it was found not so and the directors have proposed to recommend the shareholders to purchase a twenty-five ton plant, consequently the directors had written home for estimates. It had also been found necessary to increase the capital of the Company. The demand for ice in Shanghai was increasing so much that it was impossible to meet it by the existing Company. Regarding the resolution before them, all the old shareholders had applied for the new shares, and to each shareholder would be given share per share. He therefore begged to propose that the capital of the Company he increased to two hundred thousand tals, by the creation of four thousand now shares of twenty-five tals each, The proposition was seconded by Mr. Murray Adamson and carried unanimously.
The Chairman stated the next resolution was:—That the ordinary meeting should be held in the month of March, Ly fore proposed that the ordinary of the Company be held in the month of March in every year at such time and place as may be determined by the Board stead of being held not Inter than the 30th of November in every year as preiously resolved. proposition was likewise carried j Unanimously, The Chairman then stated that the Company were in treaty with the old Company to take over their business, A provisional agreement had been drawn up by the Directors by which they would take lover the old Company, paying the shareholders of that Company with the shares the Shanghai Ice, Cold Storage and Refrigeration Company, Ld. This would (be to the advantage of both Companies and also to the advantage of Shanghai. He simply told them this before they took up the new shares so that there would be no speculation.
The meeting then terminated.
Text read from the printed page and cleaned; old type leaves the occasional error.