WELLINGTON OPERA HOUSE CO. ANNUAL MEETING.

Evening Post, Volume LXXXI, Issue 84, 10 April 1911, Page 8

WELLINGTON OPERA HOUSE CO. ANNUAL MEETING.

The twenty-third ordinary general meeting of shareholders of tha Wellington Opera- House Company, Limited, was held this afternoon at the Opera House. Mr. W. C. Gasquoine presided. The report and balance-sheet (which have been already published) were adopted, a point " as to filling the vacancy on the directorate, caused by the death of Mr. H. Flockton, being reserved for discussion. It waa decided in terms of the directors' recommendation that a dividend of 5 per cent.— this, , together with 7 per cent, paid on 30th September, making the dividend 12 per cent, for the yearbe paid, and that/ the usual bonus of £105 to the directors be declared. Such dividend and bonus is to be made payable on. and after 10th April, 1911. It \vas_also decided that the sum of £308 19s 3d be paid in reduction of the Cubastreet extension mortgage, which will then stand at £661 5s Bd. Mr. Osborne proposed that another member bo added to the directorate. He nominated Mr. J. H. Flockton. It was moved by Mr. Wm. Freeman that until further notice, and until determined by a general meeting of the shareholders, the number of directors should be four. Mr. MTiennan expressed . himself as against the reduction of the directorate ; it savoured too much of a close corporation. The secretary (Mr. W. McLean), who is also a shareholder, asked that the number of passes should be reduced from six to four. Several shareholders expressed the opinion that the meeting was going outside rule 30 in permitting the introduction of extraneous matter not in the report, and without the requisite notice being given. The chairman admitted both propositions. It was decided by five votes to three, that the number of directors remain at four. Mr. T. G. Ma,carathy was re-elected a director. Mr. Wm. C. Stephens, F.P.A., was elected auditor at a remuneration of £10 10s.