AVIATION LOSSES.

Auckland Star, Volume 55, Issue 152, 28 June 1924, Page 11

AVIATION LOSSES.

m COMPANY IN LIQUIDATION. I I SHAREHOLDERS GET 16/51 IN THE £. (By Telegraph.—Press Association.) CHRISTCHURCH, Friday. Those who invested in the Canterbury j (New Zealand) Aviation Co., Ltd., made j a loss of 3/GJ in the £. Tho final business transacted by the | company, which came into being in the war period, and whose property was | acquired by the Government, was the | reception to-day of the report of the j liquidators. They stated that they had j realised the whole of the company's I assets and had collected all moneys owing to the company, amounting to j £24,941 4/4. The liquidators' expenses I J amounted to £253 14/4, and a balance | amounting to £24,687 10/, equal to j 1(1/5* in the £, had been returned to shareholders. ' The paid-up capital of the company i was £30,000 and the losses from April to , July 18, 1923, as shown by the balancei sheet were £5062 17/7. I The chairman, Mr. C. H. Hewlett, said | that expenses had been cut down as j much as possible. Every penny owing i had been collected. He added that the; j company had beon the means of estab- j lishing aviation in New Zealand. If the I company had not started aviation it j probably would not have been started I for many years to come. [ It was decided to send to Mr. H. F. 1 Wigram a letter of appreciation of his work and interest, in aviation, members agreeing that the country was under a great debt of obligation to him.