WAIRAKEI LTD
An extensive programme of alterations) and improvements to its hotel property was outlined at the annual meeting of Wairakoi, Limited, held in Auckland on .Friday. The meeting was presided over by Mr. J. A. Gentles, chairman of directors. Improved earnings during the year ended Juno 30 wore indicated in the reduction of the mortgage by i-530 and the bank overdraft and creditors by £721. The chairman pointed out that, although the financial position had improved, little had been done in recent years in the way of1 renovations and renewals, and the time had come when these were urgently necessary. Careful ■consideration had been given to the question of capital reconstruction, stated Mr. Gentles, the directors being of the opinion that the book values of the company's assets were far in excess of their actual values today. The directors' proposals in this direction would be submitted to the shareholders in the near future. The report and-balance-sheet were adopted, and Messrs. J. A. Gentles and G. L. Thorburn were re-elected directors. Mr. H. X Simmonds was reappointecl auditor.
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https://paperspast.natlib.govt.nz/newspapers/EP19341015.2.146.14
Bibliographic details
Evening Post, Volume CXVIII, Issue 91, 15 October 1934, Page 12
Word Count
178WAIRAKEI LTD Evening Post, Volume CXVIII, Issue 91, 15 October 1934, Page 12
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