THAMES THEATRE.

Auckland Star, Volume LXIX, Issue 153, 1 July 1938, Page 4

THAMES THEATRE.

LIQUIDATION APPROVED

PAYMENT OF 19/ A SHARE

At a meeting of shareholders in the Thames Theatre Company yesterday it was decided to go into voluntary liquidation, Mr. James Kernick, the secretary, being appointed liquidator. The chairman, the Hon. A. Burns, M.L.C, stated that the reason for liquidation was that the company had sold all its assets consisting of the King's Theatre, Thames, and the picture plant to Messrs. Kerridge and Company. Mr. Burns stated that the company was formed in 1915 with a capital ot £12.000 to buy the theatre and plant from the then owner. In 1918 the capital was reduced to £0000 and from 1020 the theatre was leased. The company had disbursed £12,807 in dividends, equivalent to an average of per cent for the whole period. It was now proposed, and the cash'was In hand, to pay 19/ in the £ to tho shareholders. A sum .of 17/6 would be paid immediately, and the balance of 1 'fi at a later date. The price obtained for the concern was £7500. the assets on the books being only £1182 more than that figure. The motion was moved bv the chairman and seconded by Mr. S- C. Muir and carried unanimously. Mr. E. B. Clendon thanked the directors for their diligent and careful management. It was remarkable, he said, that a company in Thames should pav such dividends over a period of years and then repay practieally all of its capital.