441
English Company law, which prevented the reduction of the value of a share beyond one-fourth the amount paid up. At the time no measure gave the relief to the Company which it sought, but the shares are found still too large, the amount paid up being $500 while there are only 60% of them.
The extension of the Company's business renders it desirable that the shares should be increased in number as well as made of smaller denomination so as to give shares to numerous contributors & business in London and other centres of trade, as they are now deterred from purchasing shares at the present high denomination and are thus deprived of an opportunity to invest their capital which it is undesirable for them to lock up.
The Directors would further draw the attention of His Excellency to the fact that the shareholders of the Union Insurance Society at a general meeting held yesterday (Mr. P. Ryrie, Chairman) resolved to subdivide their stock into shares of a smaller denomination of $125 paid up.
9.
441
English Company law. which preventd The reluction of the value of a share
beyoud
oud our
fourth the amount
paid up. At the time no measure-
gave the relics, to the Company which it sought, but the shares are found. still too large, the amount paid
up being $500 while there are only 600
%
them.
the extension of the Company': busiures rendus it desirable that
the shares should be increased in
as well as made of smaller
invent 20 as to give shares to
Mumble
contributors & business in Loudore
and other centres of trade, as ture nauto
by purchasing shares at the present
are deprived of
preminine are
Hi
LLAL
capital which it is undesirable for
them to lock up.
The Derietors would further.
draw the attention of His Excellency
to the fact that the shareholders the Union Fusurance Socity at
a le
meeting
feld
yesterday (How P.
Hyrie, Chairman, resolved to subdunde
their stock wits shares
น
de
denomination of $125 pail up-
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