FINANCIAL COMPANY'S YEAR.

Evening Post, Volume LXXXII, Issue 25, 29 July 1911, Page 3

FINANCIAL COMPANY'S YEAR.

The twenty-fifth annual meeting of the Wellington Investment, " Trustee, and Agency Company was held last evening. Mr. J. R, Blair, chairman of directors, presided. In moving the adoption of the Teport and balance-shee^ (already published in The Post), the chairman observed that the year had been A generally satisfactory one to the company. Deposits had increased by £9000 over the previous year, and mortgages by .a similar amount. The company had nad a large amount of business ' offered it, but it was not all of a character that Commended itself to the directors. The profit and loss account showed a gain of £100 under the heading of management expenses. The results of the year's grading were most satisfactory considering all the circumstances. Speculation was practically dead ; but speculation was tlie factor that determined the activities of any and every community. When there wae no speculation business was naturally quiet. There was no reason why, however, they should not look forward to yeai'S' as prosperous as those that had passed. The dividend paid to original shareholders was 10 per cent, right through. The original shareholders were now reaping the benefit. Those who bought their shares when the division took pkce. had not got the same advantage. The country wae prosperous, and the directors wished to so build tip the reserve fund that it will beabsolutely certain that shareholders will receive their dividends yeatf by year, and the time might come when the directors would be able to increase it. The report and balance-sheet were adopted. Messrs. R. M. Simpson, and G. M. Richardson, retiring directors, were re elected. Messrs, E. Buchok and J. It. G. Rowley, auditors, were also re-elected.