Wellington Building and Investment Company.

Evening Post, Volume XLVIII, Issue 24, 28 July 1894, Page 4

Wellington Building and Investment Company.

The eighth annual general meeting of the aboyo-named company was held last night in the Chamber of Commerce, Mr. J. B. Blair (Chairman of Directors) prosiding. Upwards of 20 shareholders were present. '1 ho annnal report and balance-sheet, whiuh have already been published, wore tnkon as read. The Chairman, in moving their adoption, commented on tho satisfactory position of the Company. Every seourity held by the Company had been seratinised by the directors, and no sum bad bcon set 'down for depreciation, aa the directors did not think that any of the properties upon which the Company had advanced money would depreoiate supposing they fell into the shareholders hands or had to be realised. Tho business transacted in the year had been slightly leas than last year's. Good sconrities were harder to obtain at present tban they were some time ago, and it was duo to the onre exercised by the directors tbat the returns, were less by only some £40 than they were last year. Daring eight yuarß the company, on an average business of £70,000, had only written off j6250. The motion was seconded by Mr. J. E. Smith and agreed to. Messrs. James M'Kerrow and John Cumin were re-eleoted directors, and Messrs. D. T. Stuart and John Soott as auditors. On the motion of the Chairman, a dividend of 5 per cent.— being at the rate of 9 per cent, por annum— was declared, and the Chairman announced that dividend warrants would be ready to-day . A vote of thanks waa passed to the directors for their services daring the year and the Chairman having acknowledged the compliment, the proceedings terminated.