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PERPETUAL TRUSTEES COMPANY.

The fifth annual meeting of tho Perpetual Trustee, Estate, and Agency Company was held this afternoon at the'company’s offices. Mr Walter Hislop occupied the chair, and amongst those present were the Hon, W. 11, Reynolds, \V. D. Stewait. M.U.R., T. Moodie, James Smith, J. Mitchell, Colin Allan, Edmund Smith, Dr Yates, and James Wilkie.

The Chairman, in moving tho adoption cf the report (which has been already published), congratulated the company upon the success of its operations for the year ended the 30th April, and in the course of his remarks said it might be interesting to shareholders to know the nature of the company’s business. He had gone through tho books, and found that the company acted as agent for over 200 persons or trusts, who between them held 706 mortgages, securing the sum of L 330.636, on which the company collected annual interest to the extent of L 23,000, Tho company had also clients owning properties valued for property tax purposes at L 773,680, which were let to 130 tenants, who paid an annual ground rent of L12.4871757d. He also stated that the constituents of the company had not sustained any appreciable loss beyond having to accept reduced rates of interest in certain cases.

The adoption of the report was seconded by Mr Moodie and carried unanimously. MrC. Allan moved and Mr J. Mitchell seconded the reappointment of Messrs Reynolds and Hislop as directors, which was carried unanimously.

Mr C. Allan brought up the question of there being two auditors, and said he thought one was sufficient, He moved accordingly. The motion was seconded by Mr J. Smith and carried without dissent; Mr William Brown being re-elected solo auditor at L4O per annum.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD18890610.2.30

Bibliographic details

PERPETUAL TRUSTEES COMPANY., Issue 7929, 10 June 1889

Word Count
288

PERPETUAL TRUSTEES COMPANY. Issue 7929, 10 June 1889

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