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1 correction by SheffieldPark - Show corrections

QUEENSLAND.

We have papers to the 16th instant from Bris- bane, and to the 14th from Rockhampton,

Winding-up the Tramway Company.- The Daily Guardian remarks that the last scene in the last act of the Moreton Bay Tramway Com- pany appears to be rapidly approaching its consummation. On Friday last, Messrs. Coote and Stephens were summoned before the Supreme Court to show cause why they should not be com- mitted for contempt, for refusal to ohey an order of that Court, issued some year and a half ago. That order was, that they should each pay the in- stalments due upon one thousand shares which each had taken up in the company, and upon which at that time, they had not paid one farthing. It will be remembered that in the early stage of the company's career three of the directors took up one thousand shares each, in addition to those which they had previously held, in order that certain conditions in the Moreton Bay Tram- way Company's Act might be complied with, and the company thus be legally formed and launched into existence. It was requisite that a certain number of shares should be taken up, and in order to make up this number, three of the directors took an extra thousand shares each. When the company was wound up, of course the holders of these shares were called upon to pay the instalments due. They repudiated their liability, and argued that, with regard to the three thousand shares the assumption was not bona-fide, and that the shares were merely nominally taken up for the benefit of the rest of the shareholders, and, to facilitate and expedite the formation of the company. Of course, this shallow attempt to dodge out a fairly con- tracted liability was speedily upset in the Supreme Court, and Messrs. Coote, Stephens, and Buckley were ordered by that Court to pay forthwith the instalments due on their shares. The other shareholders who had not paid up their calls were also ordered to do so. A great deal of the money has not yet been paid, and so the receiver in the estate summoned Messrs. Coote and Stephens to show cause why a rule nisi for their committal to gaol for contempt should not be made   absolute. The ostensible course of selecting these gentlemen from a number of other defaulting shareholders, was that they were two of the largest shareholders, and that if the Court showed that they had this power of com- mittal and would exert it, the rest of the share- holders would be intimidated into at once obey- ing the Court's order and paying up the unpaid calls due on their shares. Mr. Buckley, we be

lieve, has paid up the instalments due upon his extra thousand shares. The minor shareholders, as well as the larger ones, must be prepared at once to meet all unpaid calls, or to be sent to gaol for contempt should the receiver choose, as is his duty, to bring the machinery of the law against

them.

The Rockhampton Bulletin of the 11th instant says :- It was reported yesterday that some rains in the neighborhood of Dawson during the past few days had caused a freshet in that river, but not sufficient to impede traffic By our telegra- phic messages, also, we leam that heavy gales are prevailing along the coast of Moreton Bay, yet, strange to say, here the weather has been calm and fine, with no appearance of rain.

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