OTAGO TURKISH BATH COM-PANY.

Otago Witness, Issue 1297, 7 October 1876, Page 7

OTAGO TURKISH BATH COMPANY.

The annual meeting of the Otago Turkish Bath Company was held in the Institution on the 28th. The Chairman of Directors (Mr Who. Asher) presided, and about 20 shareholders were present. The minutes of the previous annual meeting were read and confirmed.

THE BALANCE BHBET.

The Secretary read the following particulars of the balance sheet for the year ending 31st August, 1876 : — Liabilities : To capital called up, L 114 1; less calls in arrear, Lll4 12s 6d ; mortgage account, L3OO ; Bank of New Zealand, L 196 10s 9d ; bills payable, L494 12s 7d ; sundry accounts owing, Ll5O lla ; total, L 2168 Is lOd. Assets :By property account, L 1556 15s 7d ; furniture account, L 156 12s 4d ; Urquhart M'Pherson, L 97 19s 9d ; W. S. Burton (balance of books sold by him), L 3 lls 8d ; cash, 19a ; profit and loss, L 352 3s 6d ; total, L 2168 Is lOd. Profit and Loss. — To balance of this account, 31 Jt August, 1875, L 316 19s 6d ; accounts presented subsequently and paid, but properly belonging to last 7ear, L2B 6s lid ; formation expenses (law), 1875, Ll7 0s lOd ; stationery, &c, Ll9 4s 6d ; rent, interest on mortgage, insurance, &c, Ll3B 17b 6d ; interest account, Lsl 14s Bd ; wages account, L 465 18s ; general charges, fuel, water, gas, &c, L 286 13s Ud ; total, L 1344 15s 6d. — By bath proceeds, inoluding amount charged to W. S. Burton for book)! sold, L 992 2s ; amount of deposits on formation of Company not claimed, 10s ; balance to new account, L 352 3s 6d ; total, L 1344 15s 6d.

Capital Account. — To 2000 shares at±A each, L2OOO. By shares allotted at LI each, L 114 1; 859 Bharea unallotted, L 859 ; total, L2OOO. Henrt Woodcock, Secretary. Examined and found correct. Sydney James, Auditor.

September 19th, 1876. The Chairman said he was sorry that the Directors could not lay before the shareholders a better balance sheet than they did. The only account he could give for that was that business in the Baths had been very bad during the past year. If they recollected, the season was very much against the Turkish Baths. They were now progressing — the receipts being more than they vreie last year. The amount owing by Urquart Macpherson, the first Secretary of the Company (L 97 19s 9d), wt»s likely to be paid. Mr Macpherson was now in a good financial position in Melbourne. They would no doubt have seen by the Press that the Directors had written to the Corporation, asking that the rate charged for the water be reduced. They had waited as a deputation upon the late Mayor, who promised to bring: their case before the Council. The swimming baths had been the means of learning more boye to swim than the Corporation Baths had been ever since they were opened. • — (Hear, hear..) The late Mayor (Mr Walter) coincided with tho Directors that some preference shoula be given to the Turkish Baths when compared to the rate per 1000 gallons charged for a water engine. No reply had yet been received from the Corporation. The Company paid no less than L24 17s 6d for one quarter's water rates. The water in the swimming bath, which holda 23,000 gallons, required to be changed very frequently. Each time the water was changed, it cost the Company LI 3s. Another difficulty had arisen. Immediately after the last general meeting, the Directors got notice from Wellington that the Company would be fined LSO for not having complied with < the Stamp Act. They had looked over the Joint Stock Companies Act, and they found no mention of a similar Company to the Turkish Bath Company, hwing to pay sUmp duty. They were then referred to the Stamp Act, where they found that the Company should pay 10s per LIOOO on the nominal capital, to the General Government. One clause of the Stamp Act, however, explained that all places ot public recreation were not liable for the duty. The Directors h»ld that the baths were a place of public recreation, and the Registrar of Stamps in Wellington remitted the fine, but they had to pay for the stamp. The warm water baths which had been erected during the past yew, had proved one of the best financial speculations of the Company, the amount received in January being L239s ; February, Ll9 ; March, L2O 4s ; April, Ll9 4s ; May, Ll7 13s ; June,Llß 6s ; July, LlB 6s ; and August, Ll6 12s. Since the institution of th« plunge baths, the staff had not been increased. In eighteen months these baths will have paid for their construction. The Directors hnve had it under serious contemplation for the last three or four months, whether it would be for the benefit of the Company to lease the baths, and they would submit the question for the consideration ef the shareholders. It was with great repugnance that the Directors camo before the shareholders and said they had no dividend to declare. The three retiring Directors were Mr Muir, Mr Fenwick, and himself. Excepting one meeting, they had always been able to farm a quorum. He moved the adoption of the balance sheet, as read. Mr R. K. Murray seconded the motion, which was carried unanimously.

ELECTION Oi' OFFICERS.

Messrs Robert Wilson, Win. Ashor, and Muir were elected Directors for the ensuing year. Mr Sydney James was re-elected Auditor. LEASE OV THE BATHS.

Mr Duthie moved — " That the Directors be empowered to let the Baths by tender if they should see fit."

Mr Price seconded tho motion, which wa* earned unanimously.

MEDICAL PRACTITIONERS AND THE BATHB. The Chairman complained that some of the medical practitioners aid not sufficiently recognise the curative properties of the Turkish Bath 3, which had been of great benefit to numerous patients who had been troubled with rheumatics. The following amusing circumstance had come under his notice. In one case a doctor here said to his patient, " You must not go to the Turkish Baths ; you are not in a sufficiently healthy position. You must take this medicine." The patient quietly put the medicine in a cupboard and came to the Turkish Baths. When the doctor next visited him he said, " You are really progressing very nicely. lam very much pleased to see you getting on so well. Continue the medicine as before." "All right," said the patient, who, when he was quite cured, showed the doctor all the medicine bottles, still uncorked, in the clipboard. He (the Chairman) related several instances where persons had recovered from severe attacks of rheumatism through using the Turkish Baths. Mr Esther and other shareholders mentioned cases where medical men had recommended their patients to use the Turkish Baths here.

COMPLIMENTARY.

Mr R. K. Murray, in moving — "That a hearty vote of thanks be tendered to the Directors for their services during the past year "" — • spoke in highly complimentary terms of tho Chairman. Mr Muir proposed a similar compliment to the Secretary, and the other officers of the Institution. The motions were passed by acclamation, and the meeting dispersed.