The profit and loss account shows a ba'ance on the credit side of £3,547 18s 7d. This lias been applied to the reduction of accounts owing to our agents, overdrafts, etc. On reference to the balance-sheet of 18S3 it will be seen that our indebtedness to Wright, Stephenson and Co. at that date was £5,637 19s 4d. This account has been reduced to £1,633 13s Id. The overdrafts and other accounts have bee'u considerably reduced. There has been paid to the share holders £i per share towards the reduction of.capital. By the terms of the sales of the Eweburn Runs, etc. —viz., one-third on delivery, one-third at twelve months, and one-third at twenty-four months —it is impossible to wind-up the Company at once, but it is confidently expected that the whole affair can be wound-up in twelve months, when the Directors fully anticipate that the shareholders will receive the full amount of their capital. In accordance with the provisions of the Joint Stock Companies Act, it will be necessary at this meeting to appoint a Liquidator (or Liquidators) to wind-up the affairs of the Company. As the whole of the Company's property is now sold, with the exception of the wool shipped to London and a few trifling things, your Dirctors will give up their duties to the Liquidator (or Liquidators) whom the Company may appoint so soon ns the delivery of the property has been completed ; and in doing so will take this opportunity of thanking the shareholders for the confidence placed in them for so long a *Aine—several of the Directors having held office from the commencement of the Company." Mr Robert Glenn had much pleasure in seconding the adoption of the report and balance-sheet, and was very much gratified to think that the transactions of the Com pany were likely to terminate so favorably to the shareholders. The motion was put and carried unani mously. The Chairman said the next business would be the appointment of a Liquidator (or Liquidators). For his own part, he thought that, as everything had been sold, one /vould be sufficient. After considerable discussion, ■- It was proposed, seconded and carried unanimously—" That Mr William Newman be appointed Liquidator to wind-up the affairs'of the Company,and that the remunera tion be £50." After passing a bonus to the Directors, Hon. 