After explaining the largeness "f the sum owing to the secretaries in London, the Chairman said that the debenture holders would be asked to exchange their present de-Dentures for debentures in the new company which would be identical in every respect, security, ete., with those now held. If this was agreed to, the directors intended to propose to the shareholders that the present company should be liquidate ed and that a new company with an authorized capital of Tls. 750,000 in shares of Ti. 1 be formed. Shareholders would receive eight of these Ti. 1 shares for every £1 share at present held, in addition to which
Text read from the printed page and cleaned; old type leaves the occasional error.