As you are now aware your direetors have devoted the past twelve months to reorganizing your company, ud they now believe that it will be able to show profits, but, burdened With @ lose of $16841428, it would yo be @ very considerable time, before you" would benefit in the form of "The situation has been very carefully considered, and your directors are unanimously' agreed that it would
pany to pass the special rosel the best interests of the com for which this Meeting is called, the effect of which would be to reduce Your paid-up capital by $929,230.77.
Ti. is proposed to allocate this sum in the following manner:—Goodwill, the loss as "at De-Jcember 3i, 1983 and the loss the end of June all to That the report and statement of lee written off completely. Fur-account as, presented. for the twelve ther it is proposed to write down the months ending February. 28, 1004, be values of Furniture and Fixtures, Tope, Machinery and Delivery Equip: W. Crawford and seconded by Mr. ent, "You will note that ft is proposed to eliminate Goodwill Account That Mr. D, W. Crawford be re-elected entirely, which fe fustiged by the director of the company., Proposed years. 4 fosses fislained during the past two by'hir. D. Menule and seconded by 317. RJ, Bowerman.
That the appointment of Mr. J.
The loss from January—June of Cheeseman to the board of directors bs this year which has yet to be de-Confirmed. "Proposed by Mer. W. finitely ascertained was partly. o©- Menmie.
Grawtord and seconded' by Mr.
premises and consequent. temporary ctstonea "bythe removal of your That Mecsre, Thomson & Ca. be re {oss of some of our clients, bardy by elected auditors of the company for the the fact that the reorganisation was remuneration of $1000, Proposed of completed, and partly by the ne Mir. G. Lindsay and seconded by Mr. fealty of increasing feserves on Sundry Debtors, in particular that of International Films (China) Ltd.
Text read from the printed page and cleaned; old type leaves the occasional error.