Taunton, Delmard & Co: The Reconstruction Scheme: A special private meeting of the shareholders of this company was held yesterday, at the Colmore Chambers, Newhall Street, to consider the scheme of reconstruction submitted by the joint-committee of creditors and shareholders. Mr. J. P. Lacy presided; and there was a large attendance, amongst those present being Messrs. S. Hingley, S. A. Edwards, D. Anderson, A. H. Griffiths (members of the joint-committee), A. H. Gibson, A. Keen, J. H. Pearson, Joseph Ash, R. Taunton, E. M. Coleman, R. A. Pinsent, &c. The report of the joint-committee was read, showing that the assets of the company were valued as a going concern at £62,000 and this would enable them not only to pay the debenture-holders and the creditors but also give a substantial dividend to the preference shareholders. … (discussion) … Eventually it was resolved unanimously on the proposition of Mr. Pinsent, seconded by Mr. A. Griffiths that the meeting approved of the scheme, subject to the preference shareholders reducing their £10 shares to £5 each. It is stated that new capital, to the amount altogether of £6,000 was promised in the room.
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