Company name: Fraser Sons & Co Ltd
Company name: Board of Directors
Dates in business: 1909-1947
The board of directors was responsible for conducting and managing the whole business and affairs of the company, subject to the control of the shareholders in general meeting.
The board had the power to appoint one or more directors, or any other person, to be managing director or manager of the company. Any or all of its powers, other than the power of borrowing money or forfeiting or accepting a surrender of shares, could be delegated to the managing director. The managing director had to conform to the regulations imposed on him by the directors.
The directors caused accounts to be kept in books of the assets, liabilities, receipts and expenditure of the company.
Management of company
The articles of association, 1909, stipulated that the number of directors of the company was three. This number could be increased or decreased by the company in general meeting with the consent of the directors.
The first directors of the company were Hugh Fraser, James Arthur Fraser and John Fraser, the former partners of Fraser Sons & Co. Hugh Fraser was chairman. He was to remain chairman for as long as he remained a director.
James Arthur Fraser died in 1911.
At the company's annual general meeting in 1923, Hugh Fraser proposed that his son, Hugh, should become a director of the company. In 1924, Hugh junior was appointed managing director.
Hugh Fraser, the elder, died in August 1927 and his trustees transferred all of his holding in Fraser, Sons & Co Ltd to his son Hugh. Hugh became chairman of the company and appointed his mother, Emily F.M. Fraser, and cousin, Captain James A. Fraser Henderson, as directors.
In April 1929, John Fraser sold his share in the company to Hugh Fraser.
Records held for Fraser Sons & Co Ltd:
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