CHAMPION COPPER COMPANY.

Inangahua Times, Volume IX, Issue 1355, 30 January 1884, Page 2

CHAMPION COPPER COMPANY.

-• (Nelson Maif..} There was a numerous attendance of shareholders at the first genera' meeting of this Company which was held in the Council Chamber last night, 48 being present and 84 others represented by i proxies. Tho total number of share- i holders is 254, who hold 50,462 out of the 90,000 shares offered. Mr Frank , Hamilton was voted to the chair, and the first two hours were occupied in ! discussing the Articles of the Asspcition. ' The next business was the election ! of seven Directors for which office the following were proposed, those whose names are in italics being elected : — * Messrs M. Andrew* Frozen, Hamilton ' Rodder ■ ackaon Parker and Smyths C Wilson, Davis, A.'llarley, Mr Light- c band, A. T. Jones, Shields, and s Moutray. c Messrs Pitt and Moore were appointed solicitors to the Company, and Messrs H.Edwards and J. "YVflgjn. n auditors, their fee being fixed at i 5 ss, b two propositions to -make it £10 10s g and £7 7s I'einglost. *C

Mr Bayfeild was appointed Secretary at a salary of £210, the, transfer fees to be the property of the Company. A discussion took place with reference to the remuneration of tbe directors, but it was decided to leave this an open question until the Company wa* proved to be a paying concern. Mr Syratbe proposed that the 6588 unalloted shares he held in trust on behalf of the Company, arguing* that shares- were already at a premium* and likely to- rise in value, and if it were deemed necessary at a future date today down a tramway and to sell the unalloted shares m order to raise the money, the premiums would go far towards meeting the cost. Mr : Reeves, on the other hand, thought that the shares should be offered to tbe present shareholders pro rata on the number held by each. They had borne the burden and heat of the day, and it was only tair that they should derive this benefit 4 This was seconded by Mr A. Harley, and opposed by Messrs Andrews and Jackson and ultimately negatived, Mr Siuythe's resolution being carried by a large majority. It was resolved to hold a special meeting on the afternoon of the 6th February, in order- to confirm the ; decisions just arrived at. L . , Mr Bayfeild then returned his thanks for the appointment as Secretary, . stating the salary voted would enable him to give full attention to the j Company's concerns. He himself was i a large shareholder, and they might rest satisfied that no effort should be wanting on his part to promote their interests. A vote of thanks to the Chairman for his able conduct of the meeting was then carried on the motion of Mi Holloway, second by Mr Price.