DUNEDIN.

Daily Telegraph (Napier), Issue 3503, 28 September 1882, Page 3

DUNEDIN.

September 28. The report of the proceedings at the two meetings of shareholders in Guthrie and Larnach's Woodware Factories Company, at which a resolution agreeing to the liquidation of the company was passed and then confirmed, is being published in the local papers. The proceedings were of considerable interest, principally as affecting the relations of the Bank of New Zealand to the company. In the course of the speech of Mr Larnach (chairman) he said, " I do not mean it offensively, I only wish to say this, for the information of shareholders, that the company's account has been one of some value to the bank from its commencement. Here is a statement of the interest, discount, and exchanges paid since the commencement of the company down to the end of last month. The interest, discount, and exchanges paid to the bank up to the end of December, 1881, amounted to £79,279 19s 8d ; that is, from the Ist of September, 1877, to the 3lßt December, 1881. From the 31st of December, 1881, to the 31st July, 1882, there has been an additional amount of £37,990, so that during the company's existence there has beeu something over £117,009 paid in discount, interest, and exchanges. The sums passed through the bank-books by the company, paid in the shape of bills and cash, amounts from the Ist of September, 1877, to the 31st of December, 1880, to £1,841,888, out of which over £453,000 of cash has been paid in. There has also been paid in by cash over £325,000, and additional in bills of over £650,000, so that the account has not been without profit to the bank, but has been one of considerable value."