The Chairman explained that the meeting had been called to confirm a special resolution passed at the recent annual meeting. The Directors, anticipating that the resolution would be confirmed, had called for tenders for the erection of the Iniildinjj in pursuance of the plans and specifications which were on the table at the last meeting. The building speci fied was a three-storey brick building, with front shop, back shop, and dwelling apartments on the ground floor, and two storeys above consist ing of heven or eight rooms including a strong room. There were seven tenders ranging from £1280 clown to £1050, the lowest, by Messrs Bateman and Stait. The architect (Mr lloss) considered the tenders very reasonable. The Directors estimated that the building would command a gross annual rental of about £400 at a moderate rent, and this at an expendi ture of £1030 was a very profitable invest ment. The Directors therefore wished the shareholders to make an effort to raise the necessary capital. The Directois would not l'eceive any tender till they weie sure of the shares being taken up. Each Director had consented to take 25 shares of the new issue, and it' the shareholders accepted them in a .similar ratio the necessary amount would speedily be raised. Air A. U,iu, Jack moved — " That in accord ance with tbe special resolution passed at the annual general meeting of shareholders, held in the Allipucum Hall, on Thursday, the 24th day of February, IS7O, the capital of the Com pany be increased to the extent of L2OOO, or <uiy smaller sum the Directors may determine, by the issue of new shares ; such shares to be first offered at par to tho present shoreholder&, pro mln. IViling the issue of a sufficient number of shares to provide the required capital, the Directors be authorised to borrow a further sum of LSOO on mortgage of the Com- P'lnv'f property." Mr T. Mooimi: seconded the motion. MrT. Condon said he had been taken by surprise, and wanted to know when a dividend was to be declared. He moved the following as an amendment — " That in order that share holders may have an opportunity of examining the accounts, this meeting be adjourned till Monday, the 10th inst "

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