THE PATENT SLIP COMPANY.
(BY TELEGRAPH.—PRESS ASSOCIATION.)
Wellington, this day. At a special meeting of the Patent Slip Company, the Chairman-announced that at 'the end of March the Government subsidy ot £2,450 per which bad in accordance witli the original contract been received for twentyone years, would expire, and the Company would have to make other arrangements. He also stated that, instead of paying the shareholders an annual dividend of seven per cent., the Company had paid only five per cent., and the balance had been placed on deposit, Which now amounted to £10,000. The proposal of the directors was that the Bhareft should be reduced in order from £10 per share to £3 per shore. At the same time it was proposed to pay shareholders at the rate of £3 per share out of the £10,000 above mentioned, so they would receive £6 ■for each £10 share. With the reduced capital the Company would be able to go on paying dividends at the same rate as hitherto. In order to give effecb to the above; the shareholders yesterday passed a number of special resolutions.
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Bibliographic details
Auckland Star, Volume XXV, Issue 16, 19 January 1894, Page 2
Word Count
185THE PATENT SLIP COMPANY. Auckland Star, Volume XXV, Issue 16, 19 January 1894, Page 2
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