Native Land Company.

Gisborne Standard and Cook County Gazette, Volume III, Issue 313, 18 June 1889, Page 2

Native Land Company.

Auckland, Saturday. An extraordinary meeting of the Native Land Company was held yesterday afternoon to consider the advieableness of giving the directors power to realise thg assets qf the company, and of incrauing the remuneration of the directors. Mr. Kiuling, one of the liquidators, stated the object of the resolution was to give the liquidators the power of oompromising instead of foraing the people into bankruptcy, and not with a view to showing leniency. Mr Clark proposed, and Mr Campbell seconded, "That the liquidators may exercise the power of oompromise under the 221st notion of the Companies Act." Carried. It was also moved by Mr Clark, "That in addition to the sum of £lOO voted each liquidator on the 4th August last, the remuneration be increased by £3OQ, to bo divided between the liquidators, as they arrange to cover charges of clerical work, and (n the event of the landed estate being realised by the liquidators the remuneration for the eels shall be one and a quarter per ceqt. on the amount of the sales. ” He stated the Bank of New Zealand could realise on tfie estate. On November 23rd, 1888, a resolution was passed requesting the Bank of New Zealand to allow the liquidators sufficient time to realise on the landed property to recover as much as possible of the ehereholdere' money.