The extraordin general meeting }was then proceeded with, the chairman saying:—Resolution No. 1 of this meeting. reads as follows:—"That each of the existing Tls. 20 shares be divid-fed into four shares of Tls. 5 each Jon which the sum of Tls. 5 shall be leredited as paid up."
There is not much for me to say with regard to this, I think. It speaks for itself. The idea originate el entirely with come of the shareholders and we were approached ime ago with a proposal to call a special meeting of the company for the purpose of discussing the advisability of its being done. The request came from a forge and influential number of the members who thought that it would be a means of making the shares of the company more popular amongst the general public and making them saleable. It was felt that they were getting a little unwieldy at such a high premium. Your directors considered carefully the suggestion of walling a special meeting for this purpose and arranged with the proposers that the matter should be left over until the annual meeting when it would be brought forward from the chair. It is a matter entirely for you to decide and we shall be pleased to jerry out your wishes with regard it. The resolution is proposed lby myself and seconded by Mr. Prentice. and is now open for dis-
Text read from the printed page and cleaned; old type leaves the occasional error.