Regarding the amendment, the chairman said that he would give them the reasons why the board Urged shareholders to vote against it. Not a word of detriment had. been expressed against the board Mr. Cornfoot, and the only reason for the amendment was that Mr, Hillaly, the holder of a large block of shares, was considered more eligible to a seat on the board than 4 small holder. He thought that It was generally conceded that so long asa Girector fulllled the qualifeation sot forth In the Articles of Association, and n of his being a lar was eligible to act in that capacity,
small shareholder did not arise. The duly of a director was to look after the interests of all shareholdors, large or small, and that was rounds that it might not be desirable or in the Interests of the company to have on the board a member of the Stock Exchange, What was required of a director was not knowledge, of the market value of shares," but general business ability and of how to run the company on sound business Mines for the benefit of its shareholders. He asked them whether they thought it tale or" just, now that the company was in such a sound position, to deprive one of the rectors of the credit due in part to his helping to bring about this position. He asked them to vote against the amendment, On the first counting, the amond-rent was Jost, but ona subsequent counting it was found that those in favour of it were in a small ma-
Text read from the printed page and cleaned; old type leaves the occasional error.