OPERA HOUSE COMPANY.

Evening Post, Volume LXXXIII, Issue 79, 2 April 1912, Page 8

OPERA HOUSE COMPANY.

ANNUAL REPORT.. • INCREASE "OF CAPITAL. The report to be la-id before the annual ' ! meeting of the Opera House Company, • Ltd. , states that the directors recommend » dividend of 5 per cent., this, | together with 7 per cent. paid on 30th ' September, making the dividend 12 per I cent, for the year ; that the usual bonus 'of £105 to the directors be declared, and that such dividend and bonus be made payable on and after 15th April, ' 1912. During the year the electric light installation ha& been completely overhauled and considerable improvements were effected to the satisfaction of tho City Electrical Engineer and the Underwriters' Association. These improvements were paid for by the kesee. It will be noticed that the item " Cubastreet Extension Mortgage " has disappeared from the balance-sheet, the same having been duly paid off m August last, on which date the whole of the company's property was absolutely free from debt of any ljind. On 4th September last an extraordinary general meeting of the shareholders took place at the Social Hall of the Opera, House, when the following resolution was unanimously passed 1 : "That it is desirable that tho company should build in Wellington a new theatre, such as may unset the growing requirements of the city, and that for that purpose the purchase should 'be completed' of a piece of land fronting Manners-street, having a frontage of H6ft by a depth of 2401 1, as negotiated by the directors." In terms of the above resolution the board purchased from Mr. T. G. Macarthy a, block of land in. Mannere-street (116 ft by 240 ft). The price was £23,200, of which £5000 has been paid. ' The land has been transferred to the company, arid a mortgage for the balance duly given to My. Macarthy, the term h«ipg ten years, and the rate of interest 4| per. cent, pev annum. At an." extraordinary meeting of Ehai"ehold«rs, held «m <?th 'September, 1911, the capital was increased, froni^ £20.000 to £50,000 by the creation of 6000 now shares of £5 ■each. The shared have been duly offered to tho shareholders at par. and upon ■easy terms of payment, 1466' being applied for. Tho directors havo applied tor tho full number of shares they were ■entitled to. As tho company authorised the erection / of & new theatre, it will now be necessary for the shareholders to supply sufficient funds to complete the contract, and ihe beard thought it best ' that the whole subject be 'dealt with at an extraordinary general meeting, which will b© held immediately after the business of the general meet-< ing is disposed of. The board has secured the services of the Hou. William Pitt, of Melbourne, for the erection of the new theatre. The plans and specifications are expected in two weeks from date. As there will be work of great imipcrtance to the company in connection with the erection of > the new theatre, the board recommends that, in accordance with rule 47 of the company, tlii' number of directors ho increased from four to five. Mr. W Barber is the retiring director. jukl offers himself for 2 o -election. • Following the alumni meeting ;tn extraordinary meeting will be held to consider a motion that tho Articles of Asecriution. of the comijany be altered as follows : — (1) By omitting Article 40, reading, "no shareholder shall hold mor© than one-tenth part of the capital of the company." (2) By adding the following Article to be numbd'cd 23u, vid. ; — '"Any uew Bhaies iasiwd in miri fiueaee of any resolution to increase* ike

Tho Hon. T. Buxton was sworn in today ac a member of the Executive. During the month of Maxch, 31,7710 a of gold, valued at £125,581, were exported from New Zealand, a decrease of 10,5440z, valued at £42,911, compared with March, 1911. The export for the quarter was 101,3760z, valued at £401,880, a decrease of-16,224, valued at £68,761. The hearing of the income tax case, Kauri' and Taupo Totara Timber Company v. tho Commieeioner of Taxes, was resumed before the Court of Appeal to-day, the Bench consisting of Justices Denniston, Edwards/and Chapman. vSir John Findlay, K.C., with him Mr. J. Logan Stout, appeared for tho Taupo Totara Company, Mr. T. Cotter, K.C., with him TVIr. C. J. Schnauer, for the Kauri Company, and the 'Solicitor-General (Mr. J. W. Salmond) for the Commissioner of .Taxes. Mr. Cotter concluded his argument, and Mr. Salmond was replying ac The Post went to press. "As one who, yesterday, went in quest of the fiver, I would like to ask the management to produce Janeen on the stage in' the disguise he wore in front of the Post Office," writes a correspondent, who is rather sceptical whether Mr. Jansen was really in tho crowd. The management states most em- j phatically that there is no ground for th<j correspondent's scepticism. Mr. Jansen was, Mr., Talbct states, among the l crowd. ■Representatives of the Hawkes Bay Coal and Oil Prospecting Syndicate, who hold boring right* over a large area in the i Eketahuna district, met property, owners hist week, when matters connect- ! ed with the option to bore were discusBed." An- old- age'pensioner, a man named William Durie, aged 71, residing at 42, Wallac^street, foil down and died suddenly 'in* Abel Smith-street last evening. An 1 inquest is being held this afternoon at the. Morgue. Messrs. Brand and Johnston will hold a sale of household furniture in their rooms to-morrow,' when the contents ot a turnished residence will be sold. Included'in the catalogue' will be found fumed oak sideboard, high-back oak dining room suite, and bodroom suites. Owing to the largo '-number of lots > the salo t will commence at 1, o'clock. On Thursday moming, at 11 o'clock, tho firm will hold a ealo of household furniture and .effects on the premises, No.' 130, Riddiford-utreet; and at 1 o'clock, on the premises, 12, Oxford-ter-race (off Adelaide-road) they will hold an auction sale of household furnishings.