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ENGLISH SEWING COTTON.

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ENGLISH SEWING COTTON. A LONDON RESOLUTION. A meeting of the shareholders of the English ;ewing Cotton Company was held on Friday in ondon, when Mr. F. Handel Booth presided over L small attendance. The following resolution was j noved:—" In view of the unfortunate position v n which the ordinary shareholder is now placed, ( md of the disheartening dissensions on the new 1 3oard, the London shareholders earnestly appeal t o their fellow-shareholders in the M-anchester listrict to attend the confirmatory meeting in Manchester and support the appeal which will be made for definite assurances in regard to the ordinary shareholders' interest. The London ,hareholders desire to utter an emphatic protest: 'I J 1 1.: 1) Against the reduction in the directorial quali- fication from 1,000 to 100 shares; (2) against the increase of the fees of the ordinary director from C200 to L500 per annum; (3) against the unequal working of the Coats agreement." The Chair- man said it was a sad thing for the shareholders when the directors were all chosen from the ven- dors, and as long as this was the case he had no confidence in the company's future. As for the new chairman, he was a very able Manchester business man, but he knew nothing about sewing cotton. Another point was the acceptance of a loan from Messrs. Coats, which he did not view with satisfaction. As far as he could see, they would have to look to America for their future; and it was time they had some one on the Board who would look after their American interests. They would ask him why he was so sacrificial at the Manchester meeting. He could only say that, with the idea of commencing again under har- monious conditions, he did not carry his objec- tions to a division. The resolution was carried unanimously, as was another nominating Mr. Booth and Mr. F. A. Bell for the vacant seats on the Board.

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