Tubeless Tyres Affairs: In our last issue I gave particulars of the agitation now going on in connection with the Tubeless Tire Company … (continues) … Most of the statements contained in the report are alleged to be incorrect, and so that there shall be no mistake Mr. Palmer replies to each specifically in the order of the paragraphs in the report as follows: (1) Mr. Dunlop was never elected on the board of directors, for reasons explained to the shareholders at first and subsequent meetings. Mr. Heaton did not resign for the reason given; in fact, he did not resign at all. His agreement expired, and the directors did not consider it advisable to re-engage him, and, ipso facto, he ceased to be a member of the board. … (continues) … When Heaton and I consulted our solicitor re the formation of the company (Pinsent and Co.), who has been my solicitor for the past fourteen years, he at once said, “Let your independent directors, Hughes and Iliffe, arrange all the prospectus and appoint their own solicitors. I cannot, or rather will not, act, and you must both be independent.” … (continues) …
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